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it is the wild west, ftx turned out to be a hot air i ftx turned out to be a hot air balloon and it popped. the largest cryptoexchange admitted to being a criminal conspiracy to commit money laundering. that exchange is still going, so you can make money in crypto but you should tread carefully. crypto but you should tread carefully-— crypto but you should tread carefull . ~ . , ., , carefully. what lessons have been learned? the _ carefully. what lessons have been learned? the main _ carefully. what lessons have been learned? the main lesson - carefully. what lessons have been learned? the main lesson is- carefully. what lessons have been learned? the main lesson is whenj learned? the main lesson is when ever anyone _ learned? the main lesson is when ever anyone talks _ learned? the main lesson is when ever anyone talks techno - learned? the main lesson is when ever anyone talks techno babble, | ever anyone talks techno babble, don't listen. i know the technology, it is not remarkable. crypto is a way to construct financial instruments out of the sight of regulators and now we are getti
it is the wild west, ftx turned out to be a hot air i ftx turned out to be a hot air balloon and it popped. the largest cryptoexchange admitted to being a criminal conspiracy to commit money laundering. that exchange is still going, so you can make money in crypto but you should tread carefully. crypto but you should tread carefully-— crypto but you should tread carefull . ~ . , ., , carefully. what lessons have been learned? the _ carefully. what lessons have been learned? the main _...
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the defence says that people who lost money with ftx stand to be paid backin lost money with ftx stand to be paid back in full. the resulting way the prosecution has argued for between 40 prosecution has argued for between a0 and 50 years incarceration time for sam bankman—fried. the defence far less, between five and six years. some tough words from the judge this morning. he said he sees the loss greatly exceeding $550 million and the reason why that is a bar is because that is the top of the sentencing guidelines. if that can be shown on the judge is able to give the widest sentence, the greatest sentence that is in his guideline book. he said he will come in below that, but he likened it to keep going to las vegas, taking the bag of loot used all, betting it, winning the outcome and then not be entitled to keep the fans. the judge said just because bankruptcy proceedings have been able to call back some money, we pay some creditors and debt for investors and customers doesn't mean no crime was committed. ., ., , ., , , ., committed. how has he appeared in revious committed. how h
the defence says that people who lost money with ftx stand to be paid backin lost money with ftx stand to be paid back in full. the resulting way the prosecution has argued for between 40 prosecution has argued for between a0 and 50 years incarceration time for sam bankman—fried. the defence far less, between five and six years. some tough words from the judge this morning. he said he sees the loss greatly exceeding $550 million and the reason why that is a bar is because that is the top of...
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from his cryptocurrency exchange ftx by. the former billionaire ceo was previously found guilty of fraud and conspiracy. prosecutors say he took almost £8 billion from customers. and some other stories now. a man has been arrested on suspicion of manslaughter in connection with the death of gogglebox star george gilbey after the a0 year old died in a fall at work. george, who was a self—employed electrician, sadly died at the scene. and it's a great day for freddie flintoff fans as he's making his return to tv after his top gear accident with a second series of a bbc cricket documentary called field of dreams. time now to leave you with 10 seconds of a swan rescued from a supermarket roof in an ikea bag. the best thing about this is the swan was called steve. the team used a 13 metre ladder to rescue him and bring him back to safety. you're all caught up now. see you later. i'm mark edwards, welcome to sports day. here's what's coming up on the show. newcastle's sandro tonali charged by the english fa for alleged betting
from his cryptocurrency exchange ftx by. the former billionaire ceo was previously found guilty of fraud and conspiracy. prosecutors say he took almost £8 billion from customers. and some other stories now. a man has been arrested on suspicion of manslaughter in connection with the death of gogglebox star george gilbey after the a0 year old died in a fall at work. george, who was a self—employed electrician, sadly died at the scene. and it's a great day for freddie flintoff fans as he's...
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there are about 1.2 million people who were still out of pocket from the ftx collapse. the defence has been maintaining that 11 billion we heard today, i have heard it is 8 billion, most of that money that has gone missing has been recovered by the debtors and will be given back to the individuals, but of course they will be given the monetary terms that they lost back in 2022. and of course, if you had one bitcoin on the ftx exchange in 2022 you would have lost 16,000, but if you would have lost 16,000, but if you had been given back that bitcoin, today's value is more like 70,000. i would bitcoin, today's value is more like 70,000. iwould be bitcoin, today's value is more like 70,000. i would be very interested to see whether victims make of this. i know one particular high—profile victim that has been a leading campaignerfor victim that has been a leading campaigner for other victims, victim that has been a leading campaignerfor other victims, he is campaigner for other victims, he is about campaignerfor other victims, he is about £2 million out of pocket. and i k
there are about 1.2 million people who were still out of pocket from the ftx collapse. the defence has been maintaining that 11 billion we heard today, i have heard it is 8 billion, most of that money that has gone missing has been recovered by the debtors and will be given back to the individuals, but of course they will be given the monetary terms that they lost back in 2022. and of course, if you had one bitcoin on the ftx exchange in 2022 you would have lost 16,000, but if you would have...
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fm— of people who lost money on his exchanue, ftx. ., ., exchange, ftx. let me ask you more broadly about — exchange, ftx. let me ask you more broadly about the _ exchange, ftx. let me ask you more broadly about the american - broadly about the american regulators and how they have allowed financial institutions and ordinary investors to get involved in crypto, so it is kind of legitimising it, you might argue. the last time you are on newsnight, you called it a hierarchical ponzi scheme still feel the same? , . ~ , the same? yes, and i think there is more to come _ the same? yes, and i think there is more to come here. _ the same? yes, and i think there is more to come here. -- _ the same? yes, and i think there is more to come here. -- so - the same? yes, and i think there is more to come here. -- so do - the same? yes, and i think there is more to come here. -- so do you i more to come here. —— so do you still feel the same? sam was a client which makes the stable coins for crypto exchanges and that is what is being traded. tether. his other comp
fm— of people who lost money on his exchanue, ftx. ., ., exchange, ftx. let me ask you more broadly about — exchange, ftx. let me ask you more broadly about the _ exchange, ftx. let me ask you more broadly about the american - broadly about the american regulators and how they have allowed financial institutions and ordinary investors to get involved in crypto, so it is kind of legitimising it, you might argue. the last time you are on newsnight, you called it a hierarchical ponzi scheme...
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ftx allowed people to trade their normal money for digital currencies like bitcoin. but money stolen from ftx was used to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and bankman—fried was arrested. there is a courthouse in manhattan. we will give you that sentencing when it happens. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. i want to let you see a clip when you asked sam bankman—fried whether he was incompetent or fraudulent, which has been one of the key elements of the criminal case. were you incompetent, or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. it was a really bad mistake, and it hurt a lot of people. and that's on me, one way or another. how did you find him? use fr
ftx allowed people to trade their normal money for digital currencies like bitcoin. but money stolen from ftx was used to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and bankman—fried was arrested. there is a courthouse in manhattan. we will give you that sentencing when it happens. with me is our cyber correspondent, joe tidy, who was...
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ftx was the exchange we are talking _ laws. ftx was the exchange we are talking about, _ laws. ftx was the exchange we are talking about, who - laws. ftx was the exchange we are talking about, who is - are talking about, who is leading the crypto exchanges now? it leading the crypto exchanges now? , ., now? it is all influx. the ceo of finance — now? it is all influx. the ceo of finance comedy _ now? it is all influx. the ceo of finance comedy was - now? it is all influx. the ceo i of finance comedy was largest exchange pleaded guilty to money—laundering charges last year, we will be sentenced next month. there are other businesses in the space, coin bases there, we are also seeing traditional finance companies like blackrock and fidelity investments start to offer bitcoin products as well. {lilia bitcoin products as well. ok, connor sephton, _ bitcoin products as well. ok, connor sephton, has - bitcoin products as well. 0k, connor sephton, has been a pleasure. thank you very much. finally, if you are celebrating easter — and perhaps inviting family for an easter lunch
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he hasjust been the ftx founder sam bankman—fried. he has just been sentenced in that courthouse you see there on your screens, to 20 years in prison for multibillion—dollarfraud. 20 years, those detailsjust multibillion—dollarfraud. 20 years, those details just coming into us. we knew the prosecutors were pushing for between a0 and 50 years. we already knew that was unlikely an hour or so ago, but we have waited to find out the exact details of the sentence. that has come 20 years in prison for sam bankman—fried. that conviction, we had at last year, for fraud, money—laundering. we heard on the court in the last three minutes from the judge, the court in the last three minutes from thejudge, a lack of remorse for the terrible crimes that in part one of the reasons that the judge came to that tariff of 20 years. these are the pictures from previous court appearances. sam bankman—fried there. after the collapse of his scheme and billions of dollars of investors' money into ftx, before it collapsed. we heard about his extravag
he hasjust been the ftx founder sam bankman—fried. he has just been sentenced in that courthouse you see there on your screens, to 20 years in prison for multibillion—dollarfraud. 20 years, those detailsjust multibillion—dollarfraud. 20 years, those details just coming into us. we knew the prosecutors were pushing for between a0 and 50 years. we already knew that was unlikely an hour or so ago, but we have waited to find out the exact details of the sentence. that has come 20 years in...
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the 32—year old founder of the collapsed crypto exchange ftx could now face decades in prison.
the 32—year old founder of the collapsed crypto exchange ftx could now face decades in prison.
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ftx-— of people who lost money on his exchanue, ftx. ., ., exchange, ftx. let me ask you more broadly about — exchange, ftx. let me ask you more broadly about the _ exchange, ftx. let me ask you more broadly about the american - broadly about the american regulators and how they have allowed financial institutions and ordinary investors to get involved in crypto, so it is kind of legitimising it, you might argue. the last time you are on newsnight, you called it a hierarchical ponzi scheme still feel the same? . ., ~ hierarchical ponzi scheme still feel the same? , ., ,, , the same? yes, and i think there is more to come _ the same? yes, and i think there is more to come here. _ the same? yes, and i think there is more to come here. -- _
ftx-— of people who lost money on his exchanue, ftx. ., ., exchange, ftx. let me ask you more broadly about — exchange, ftx. let me ask you more broadly about the _ exchange, ftx. let me ask you more broadly about the american - broadly about the american regulators and how they have allowed financial institutions and ordinary investors to get involved in crypto, so it is kind of legitimising it, you might argue. the last time you are on newsnight, you called it a hierarchical ponzi scheme...
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kaplan said he projected entirely the defendant's asser tatian that no one was harmed in the fall of ftx. that was the crypto currency exchange founded by sam bankman—fried. he pointed to $8 billion of customer losses totalling losses to customers investors and creditors more than $11 billion. judge kaplan said that that informs how he made his sentencing decision. as he said, sam bankman—fried sentenced to 25 years in jail, that is far shy of the 40—50 years —— sentencing guidelines provided to thejudge for the crimes sentencing guidelines provided to the judge for the crimes that sam bankman—fried was found guilty of totalled more than hundred years which is easily tense about to a life sentence for the 32—year—old bankman—fried. its, life sentence for the 32-year-old bankman-fried.— life sentence for the 32-year-old bankman-fried. a crypto “ournalist followin t bankman-fried. a crypto “ournalist feiiewingttefi bankman-fried. a crypto “ournalist following the case h bankman-fried. a crypto journalist following the case extensively - bankman-fried. a crypto jo
kaplan said he projected entirely the defendant's asser tatian that no one was harmed in the fall of ftx. that was the crypto currency exchange founded by sam bankman—fried. he pointed to $8 billion of customer losses totalling losses to customers investors and creditors more than $11 billion. judge kaplan said that that informs how he made his sentencing decision. as he said, sam bankman—fried sentenced to 25 years in jail, that is far shy of the 40—50 years —— sentencing guidelines...
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when ftx collapsed bitcoin was worth around $21,000. at its current price it is $70,000. it hasn't stopped the majority rise in crypto currencies and another boom and yet we don't have more rules yet. the other thing worth pointing out is that sam bankman—fried's nemesis, the ceo of binance also faces his own legal challenges and he'll be so instant in a separate case on april 30. , . ., , ., instant in a separate case on april 30. -- sentenced in a separate case. thank yom — here in the uk, more than 200 workers are taking part in two days of strike action at an amazon site in birmingham. members of the gmb union have been striking at the online retailer's fulfilment centre since wednesday. it will be the latest industrial action over a long—running dispute, with gmb calling for a £15—per—hour — that's around $18 — minimum pay rate — and union rights. in november last year, amazon workers from 30 countries went on strike during black friday, over pay and conditions. so are these strikes having any effect? eva pascoe is e—commerce director for the retai
when ftx collapsed bitcoin was worth around $21,000. at its current price it is $70,000. it hasn't stopped the majority rise in crypto currencies and another boom and yet we don't have more rules yet. the other thing worth pointing out is that sam bankman—fried's nemesis, the ceo of binance also faces his own legal challenges and he'll be so instant in a separate case on april 30. , . ., , ., instant in a separate case on april 30. -- sentenced in a separate case. thank yom — here in the...
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bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software debugging? hello and welcome. if you just joined us, i'm sally bundock. we're looking at the top business stories. we start in the us, where in the next few hours sam bankman—fried — the former cryptocurrency tycoon convicted of stealing billions of dollars from customers — will be sentenced for his crimes. the 32—year—old founder of collapsed crypto exchange could now face decades in prison. our cyber correspondent joe tidy was the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise — and downfall — of the man behind one of the biggest financial
bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software...
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judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. bankruptcy proceedings have been able to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former girlfriend of sam bankman—fried and head of his crypto hedge fund, alameda research. she painted the man known by his initials, sbf, as a risk taker hungry for influence. now facing decades behind bars, his risk—taking days are over. in new york, erin delmore, bbc news. scotland could become the first uk nation to legalise assisted dying if a bill introduced at holyrood is approved. under the proposals, a patient could only request medical assistance to end their life if they had an advanced, progressive, terminal illness, which had been diagnosed independently by two doctors. two doctors would a
judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. bankruptcy proceedings have been able to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former...
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judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. bankruptcy proceedings have been able to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former girlfriend of sam bankman—fried and head of his crypto hedge fund, alameda research. she painted the man known by his initials, sbf, as a risk taker hungry for influence. now facing decades behind bars, his risk—taking days are over. in new york, erin delmore, bbc news. in south africa, 45 people have died in a bus crash in the north—east of the country. the bus was travelling from botswana to the limpopo province. the department for transport says the vehicle plunged off a bridge into a ravine after colliding with the crash barrier, and burst into flames when it hit the ground. an eight—year
judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. bankruptcy proceedings have been able to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former...
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kaplan said that he rejected entirely the defendant's assertation that no—one was harmed in the fall of ftx. he wanted to make as much money as possible and then give all of it away. he was the subject of flattering media profiles. "was he the next warren buffett," one magazine front cover set of him. it's a 25—year sentence for sam bankman—fried. we'll see how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45 people killed as bus crashes off a bridge. also on the programme, scotland could become the first part of the uk to legalise assisted dying. we'll look at how different countries around the world approach these sensitive decisions. and we'll have the latest from the world of artificial intelligence. ai therapy, genital scans and perfect pints all explained in al decoded. we'll we�* ll start we'll start this hour with this breaking news out of south africa. 45 people at least are believed to have been killed after a bus crashed in the south african province of limpopo. these are the latest pictures we have here. j
kaplan said that he rejected entirely the defendant's assertation that no—one was harmed in the fall of ftx. he wanted to make as much money as possible and then give all of it away. he was the subject of flattering media profiles. "was he the next warren buffett," one magazine front cover set of him. it's a 25—year sentence for sam bankman—fried. we'll see how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45...
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sam bankman—fried used to be the boss of the ftx exchange — but was found guilty of swindling customers and investors. he's been ordered to forfeit $11 billion dollars — which can be used to compensate victims. he's expected to appeal the sentence — but it could be an uphill battle — sam bankman—fried used to be the boss of the ftx exchange — thejudge had to decide the judge had to decide a thejudge had to decide a couple the judge had to decide a couple of things, and taking into account the sentencing he was considering the age, the losses involved, the impact of the victims, but also the message of the victims, but also the message of deterrence and ultimately he settled on 25 years for sam bankman—fried. it was less than lawyers who had been prosecuting the case had been asking for. they wanted 40—50 years. lawyers for sam bankman—fried were saying he should get less than seven years. judge lewis kaplan decided that splitting the difference in the middle was the way to go. as you mention, sam bankman—fried is only 32 years old, so if he serves the full salary will
sam bankman—fried used to be the boss of the ftx exchange — but was found guilty of swindling customers and investors. he's been ordered to forfeit $11 billion dollars — which can be used to compensate victims. he's expected to appeal the sentence — but it could be an uphill battle — sam bankman—fried used to be the boss of the ftx exchange — thejudge had to decide the judge had to decide a thejudge had to decide a couple the judge had to decide a couple of things, and taking into...
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ftx allowed people to trade their normal money for digital currencies like bitcoin. but money stolen from ftx was used to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and he was arrested. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. can you reflect first of all on what your impressions were of this man because when we see the image of him, he looks like an overgrown teenager, channelling teenager computer geek look. that teenager, channelling teenager computer geek look.— teenager, channelling teenager computer geek look. that is what you not. he computer geek look. that is what you got- he turned _ computer geek look. that is what you got- he turned un _ computer geek look. that is what you got. he turned up to _ computer geek look. that is what you got. he turned up to the _ computer geek look. that is what you got.
ftx allowed people to trade their normal money for digital currencies like bitcoin. but money stolen from ftx was used to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and he was arrested. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. can you reflect...
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the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25 years in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former billionaire became a celebrity atop a crypto empire. prosecutors said he raided customer accounts for bribes, illegal political donations and risky investments. our business correspondent michelle fleury has more. thejudge had to decide the judge had to decide a couple of things and took into account age, losses involved an impact on the victims and also the message of the tarrant and he settled on 25 years for sam bankman—fried, sending him to prison for that time. it was less than lawyers who had been prosecuting the case had asked for you wanted 40—15 years and by contrast lawyers for mr bankman—fried said h
the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25 years in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former billionaire became a...
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the 32—year—old founder of collapsed crypto exchange ftx could now face decades in prison. our cyber correspondentjoe tidy was the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise and downfall of the man behind one of the biggest financial crimes in us history. interesting thing that's been happening pretty recently is that the bitmex bitcoin perpetual futures ran up a lot in price. this was sam bankman—fried in his element — at his desk, talking crypto and making incredible profits. his hair and shabby look were all part of the appeal and brand. sbf, as he was known by legions of fans online, portrayed himself as a maths genius who wasn't interested in personal wealth. it was all about developing the cryptocurrency industry and giving to charities. this is big. but ftx, his cryptocurrency exchange that sold bitcoin and other virtual currencies for normal money, like pounds and dollars, grew to be the centrepiece of a sprawling business worth $32 billion. so, when it all came crashing down in december 2022, more th
the 32—year—old founder of collapsed crypto exchange ftx could now face decades in prison. our cyber correspondentjoe tidy was the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise and downfall of the man behind one of the biggest financial crimes in us history. interesting thing that's been happening pretty recently is that the bitmex bitcoin perpetual futures ran up a lot in price. this was sam bankman—fried in his element — at...
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and pounds for crypto currency and he assured those customers, as his ftx was collapsing was safe but when customers went to withdraw funds in november 2022 they were not there in the jury had found that it had been moved to an investment fund and that sam bankman—fried used that money to enrich himself and his inner circle to make political donations in charitable contributions and buy luxury real estate. so when customers went to pull their money out, it was not there. £311" out, it was not there. our correspondent _ out, it was not there. our correspondent in - out, it was not there. our correspondent in new - out, it was not there. our correspondent in new york there. around the world and across the uk. this is bbc news. this is bbc news. in india, deepening religious polarisation and increasing islamophobia have marked narendra modi's second term in power. ahead of the general election, which is due to begin next month, people from the muslim community, which constitutes india's largest minority, have told the bbc they feel they are being marginalised and suppressed. the gover
and pounds for crypto currency and he assured those customers, as his ftx was collapsing was safe but when customers went to withdraw funds in november 2022 they were not there in the jury had found that it had been moved to an investment fund and that sam bankman—fried used that money to enrich himself and his inner circle to make political donations in charitable contributions and buy luxury real estate. so when customers went to pull their money out, it was not there. £311" out, it...
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i hope the ftx case opens people's eyes to the ftx case opens people's eyes to the difference between bitcoin and crypto. i am a bitcoin educator because it is such an important distinction that needs to be made. bitcoin is a network that no one can control or manipulate. it is an asset without any due. what sbf did isissue asset without any due. what sbf did is issue his own token, he washed traded it, marked it up on his balance sheet and use that to extract billions of dollars of customer money. he went out and bought a mansion in the bahamas, put his name on a stadium, lobbied politicians, a lot of people are familiar with bernie madoff, he spent $1 million on political donations before he got caught, sbf spent nearly 100 million, customers' money. cut and dry corruption, fraud conspiracy, i hope you understand and regret the harm he caused people. this is also by bitcoin exist, to show that trust in our current system is constantly broken and we need to remove the power that exist with someone being able to just print money out of thin air, which is what he did. in just print mon
i hope the ftx case opens people's eyes to the ftx case opens people's eyes to the difference between bitcoin and crypto. i am a bitcoin educator because it is such an important distinction that needs to be made. bitcoin is a network that no one can control or manipulate. it is an asset without any due. what sbf did isissue asset without any due. what sbf did is issue his own token, he washed traded it, marked it up on his balance sheet and use that to extract billions of dollars of customer...
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bitcoin recently put in an all time high, when this ftx - all time high, when this ftx exchange was collapsing, that was the crypto winter, huge amounts of money lost at that stage. but it's amazing, the cycle seemed pretty short and you're also already getting record high again and not much change in the price of bitcoin as a result of what happened today. i think the previous installations of this real—life drama had affected the price more. justine, what are your thoughts on a government role here? i your thoughts on a government role here? ~ your thoughts on a government role here? ,, , ., , your thoughts on a government role here? ~ ,, , , ., here? i think you will see stronger reaulation here? i think you will see stronger regulation around _ here? i think you will see stronger regulation around crypto _ here? i think you will see stronger regulation around crypto currencyl regulation around crypto currency but i _ regulation around crypto currency but i also — regulation around crypto currency but i also think for the markets that you're seeing is comparatively new asset — that yo
bitcoin recently put in an all time high, when this ftx - all time high, when this ftx exchange was collapsing, that was the crypto winter, huge amounts of money lost at that stage. but it's amazing, the cycle seemed pretty short and you're also already getting record high again and not much change in the price of bitcoin as a result of what happened today. i think the previous installations of this real—life drama had affected the price more. justine, what are your thoughts on a government...
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Mar 29, 2024
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york to 25 years in prison, after stealing $8 billion from customers of his failed crypto exchange ftx. speaking in court before his sentencing, the man who was known as the crypto king apologised and said he'd made a series of bad decisions. he said he knew a lot of people feel really let down. we'll have more details on that sentencing in our business coverage a little later on this hour. around the world and across the uk, this is bbc news. you're live with bbc news. it was one of last summer's big blockbuster movies and it swept the board during the awards season. but up until now, people injapan haven't been able to see the film oppenheimer. that changes today when it gets a cinema release. the film tells the story of the scientist j robert oppenheimer. this is a national emergency. detonators charged. we this is a national emergency. detonators charged.- this is a national emergency. detonators charged. we are in a race against _ detonators charged. we are in a race against the _ detonators charged. we are in a race against the nazis _ detonators charged. we are in a race against
york to 25 years in prison, after stealing $8 billion from customers of his failed crypto exchange ftx. speaking in court before his sentencing, the man who was known as the crypto king apologised and said he'd made a series of bad decisions. he said he knew a lot of people feel really let down. we'll have more details on that sentencing in our business coverage a little later on this hour. around the world and across the uk, this is bbc news. you're live with bbc news. it was one of last...
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king. 32—year—old sam bankman—fried became a billionaire through his cryptocurrency exchange platform ftx, but but the company collapsed spectacularly in 2022. now he will spend 25 years in prison for lying to investors and stealing customers funds. for more on this here's our north america business correspondent erin delmore. tell us more about it. the judge tell us more about it. the 'udge said today in i tell us more about it. the 'udge said today in a i tell us more about it. the 'udge said today in a court * tell us more about it. the judge said today in a court house - tell us more about it. the judge l said today in a court house behind me that he rejected entirely sam bankman—fried's claims that there were no actual losses when the cryptocurrency exchange ftx collapsed in november 2022. instead, thejudge pointed collapsed in november 2022. instead, the judge pointed to $8 collapsed in november 2022. instead, thejudge pointed to $8 billion in losses from customers, and more losses from customers, and more losses by creditors and investors totalling more than $11 billion. he said
king. 32—year—old sam bankman—fried became a billionaire through his cryptocurrency exchange platform ftx, but but the company collapsed spectacularly in 2022. now he will spend 25 years in prison for lying to investors and stealing customers funds. for more on this here's our north america business correspondent erin delmore. tell us more about it. the judge tell us more about it. the 'udge said today in i tell us more about it. the 'udge said today in a i tell us more about it. the...
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Mar 29, 2024
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the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25 years in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former
the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25 years in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former
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he used to be the boss of the ftx exchange, but was found guilty of swindling customers and investors. he's been ordered to forfeit $11 billion which can be used to compensate victims. he's expected to appeal. european and us markets are closed for the east weekend holidays. yesterday london hit a one—year high while frankfurt inched higher and paris ended flat as traders continued to weigh the recent uptick in inflation. asian indices closed mixed after a senior federal reserve official floated the idea of delaying or reducing cuts to us interest rates, boosting the dollar. major stock markets "are still hovering around record levels as investors continue the world." don't forget you can get in touch with me and some of the team on twitter. hello from the bbc sport centre. xabi alonso has confirmed that he will remain with bundesliga club bayer leverkusen next season, ending speculation linking him the future managerial vacancies at liverpool and bayern munich. alonso has led leverkusen to the top of the league in his first full season with the club, 10 points clear of second—pla
he used to be the boss of the ftx exchange, but was found guilty of swindling customers and investors. he's been ordered to forfeit $11 billion which can be used to compensate victims. he's expected to appeal. european and us markets are closed for the east weekend holidays. yesterday london hit a one—year high while frankfurt inched higher and paris ended flat as traders continued to weigh the recent uptick in inflation. asian indices closed mixed after a senior federal reserve official...
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bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software debugging? hello and welcome. if you just joined us, i'm sally bundock.
bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftx exchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software...
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kaplan said that he rejected entirely the defendant's assertation that no—one was harmed in the fall of ftx. he wanted to make as much money as possible and then give all of it away. he was the subject of flattering media profiles. "was he the next warren buffett," one magazine front cover set of him. it's a 25—year sentence for sam bankman—fried. we'll see how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45 people killed as bus crashes off a bridge.
kaplan said that he rejected entirely the defendant's assertation that no—one was harmed in the fall of ftx. he wanted to make as much money as possible and then give all of it away. he was the subject of flattering media profiles. "was he the next warren buffett," one magazine front cover set of him. it's a 25—year sentence for sam bankman—fried. we'll see how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45...
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much of that money was gone at the time ftx collapsed. since the collapse the bankruptcy attorneys led by john ray have managed to recover a significant part of the money that was lost. that is summer lee for the victims. as we saw today and as we have seen from victim statements in the past it is kind of small comfort. people, even if they have their initial investment back and expect to get their initial investment back one day, many lives were ruined by this episode and they will never be the same. ed: let's go back out to the courthouse on the ground with bloomberg's david gura. the numbers here are staggering. you look at the charges, the totality was 110 years. the prosecutors, 40 to 50 years. we end up with 25 years. we are getting more information. what is top of mind for you, david? david: we're at the point in the hearing where the judge is indicating where he thinks sam bankman-fried might be remanded to prison. he will recommend a san francisco bay area prison. he grew up close to the stanford university campus. both his paren
much of that money was gone at the time ftx collapsed. since the collapse the bankruptcy attorneys led by john ray have managed to recover a significant part of the money that was lost. that is summer lee for the victims. as we saw today and as we have seen from victim statements in the past it is kind of small comfort. people, even if they have their initial investment back and expect to get their initial investment back one day, many lives were ruined by this episode and they will never be...
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there should be 2022 collapse of ftx. he was convicted of fraud and conspiracy with the jury finding helical used money from depositors to cover personal expenses like the purchase of luxury property. . prosecutors recommending a prison sentence of 40 to 50 years. his family and friends urging leniency saying ftx investors have largely recovered their funds. the ecb will allow greek banks to make their first shareholder payouts in more than a decade. the last time a greek bank made it evident was in 2008 ahead of the global financial crisis and before the country's debt crisis started. the bank payouts expected to come after greek banks reduce their nonperforming loans and increased financial strength. towns across america are preparing for an economic windfall with the solar eclipse expected to pass across the country. the last eclipse in 2017 was limited for some states with south carolina's tourism department meeting and impact from 1.6 million people traveling to see the eclipse. rochester, new york is one city on the
there should be 2022 collapse of ftx. he was convicted of fraud and conspiracy with the jury finding helical used money from depositors to cover personal expenses like the purchase of luxury property. . prosecutors recommending a prison sentence of 40 to 50 years. his family and friends urging leniency saying ftx investors have largely recovered their funds. the ecb will allow greek banks to make their first shareholder payouts in more than a decade. the last time a greek bank made it evident...
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jonathan: the former ftx ceo sam bankman-fried, facing sentencing over his role in the collapse of ftx. prosecutors pushing for a prison sentence of 40 to 50 years in what has been called the largest fraud in the loss -- last decade. friends and family are urging leniency, saying investors have largely recovered on. you are about to find out what we do with you hi-res at bloomberg. we side -- we send them into the rain outside courthouses. david, fantastic to catch up. can you tell us what to expect later this morning? david: we saw the parents of sam bankman-fried. both law professors, they came here and found their way to the door. the hearing is scheduled to start at 9:30 this morning on the 26th floor of the building behind me. no phones allowed, no buildings, facing everything we get, it's on the notes that people are feeding out to us. they will have a hearing where they kind of go over this comprehensive report on what happened, the fraud committed by spf -- sbf. then the critical thing, the size and magnitude of this fraud , the fundamental disagreement. defense saying no harm,
jonathan: the former ftx ceo sam bankman-fried, facing sentencing over his role in the collapse of ftx. prosecutors pushing for a prison sentence of 40 to 50 years in what has been called the largest fraud in the loss -- last decade. friends and family are urging leniency, saying investors have largely recovered on. you are about to find out what we do with you hi-res at bloomberg. we side -- we send them into the rain outside courthouses. david, fantastic to catch up. can you tell us what to...
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the ftx founder faces decades in jail for stealing billions of dollars of from customers. david joins us live from outside the courthouse now. and tell us about the range of possibility that we are talking about when it comes to possible prison length. david: it is an extremely wide range with what the defense wants in the prosecution is asking for 40 to 50 years. federal guidelines could be as high as 110 years in prison and they are underway and moving swiftly. sam bankman-fried wearing a tan jumpsuit from the jail in brooklyn where he has been. he was there before his trial and states. what was the core of the argument, there are no losses and the bankruptcy recovery effort and the victims are not standing to lose as much money. judge lewis kaplan who presided over the trial and is going to sentence him rejecting out of hand, telling the court i reject entirely the contention that there was no actual loss. he drew a very vivid analogy to going to vegas, taking stolen money and betting it and being successful, that does not clear up the crime of stealing money. we have h
the ftx founder faces decades in jail for stealing billions of dollars of from customers. david joins us live from outside the courthouse now. and tell us about the range of possibility that we are talking about when it comes to possible prison length. david: it is an extremely wide range with what the defense wants in the prosecution is asking for 40 to 50 years. federal guidelines could be as high as 110 years in prison and they are underway and moving swiftly. sam bankman-fried wearing a tan...
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the book on everything ftx. the sentencing, this is a bookend to a saga you covered closely. what you watching for? >> the judge has a lot of discretion to determine spf's fate -- sbf's fate. the defense arguing he should get a light sentence. the prosecution is saying this is one of the biggest frauds in history. they are asking for a 40 or 50 years. the judge could go for more than that. it is up to lewis kaplan. during the trial, sam annoyed him quite a bit it seemed like. it would be interesting to see how he handles this tomorrow. >> one of the other names in this is john jay the third who said sam bankman-fried zero harm argument was rubbish. there was a lot of public pressure here. everyone is weighing in. will you be down there in new york city? >> i will be at the courthouse bright and early. reporters have been hanging out starting in the wee hours to get a seat for the sentencing so it is a bit competitive, but the weird thing to me honestly is how much the crypto market has moved on from this. it is like one of the most prominent faces of the industry is being sen
the book on everything ftx. the sentencing, this is a bookend to a saga you covered closely. what you watching for? >> the judge has a lot of discretion to determine spf's fate -- sbf's fate. the defense arguing he should get a light sentence. the prosecution is saying this is one of the biggest frauds in history. they are asking for a 40 or 50 years. the judge could go for more than that. it is up to lewis kaplan. during the trial, sam annoyed him quite a bit it seemed like. it would be...
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stocks that go through it there's a piece about datacenters, largest users of copper i'm going short ftx and long fcx. i think we're seeing a lot of companies that have been dogs move up. estee lauder, one of my worst picks, what a pivot going into amazon from being travel, resort, and china. kimberly clark is another good one to watch colgate, which rings the bell today, another good one. you're seeing it broaden i thought this was incredible. morgan stanley likes -- they like sl green. i thought they went out of business >> we mentioned the sl green barclay's upgrade yesterday. >> sl green went out of business and it's almost 100% occupied. i'm just joking. sl green is an amazing company, and you have to go to grand central to know, and i know that's hard for a lot of analysts to do modelo -- constellation is going to be number one because bud lost so much shelf space, and i just find when you see minorfol southern go up, and draftkings making a comeback, and wells fargo do well, and jpmorgan -- this is a follow the leader, but the leaders are everywhere, and let's let mag seven rest a
stocks that go through it there's a piece about datacenters, largest users of copper i'm going short ftx and long fcx. i think we're seeing a lot of companies that have been dogs move up. estee lauder, one of my worst picks, what a pivot going into amazon from being travel, resort, and china. kimberly clark is another good one to watch colgate, which rings the bell today, another good one. you're seeing it broaden i thought this was incredible. morgan stanley likes -- they like sl green. i...
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the proceeds will be used eventually to pay back ftx exercises. the banker of the process declined to comment in this story. and anthropic has raised more than $7 billion the past few years from tech giants including amazon and alphabet and salesforce, and the language model competing with open ai's chat gpt, these are class b shares sold at the same valuation i'm told as the company's last financing round which a source tells me $18.4 billion. the founders of anthropic pre-emptively told bankers they would not accept saudi money they do not plan to challenge money from other sovereign wealth funds including the united arab emirates, the uae-based fund that is actively looking at investing, and one of the people that i spoke to, the potential buyers of ftx's stake are also looking at a bit of a syndicate of new investors. a source tell mese that i'm told that amazon and alphabet are not increasing their holings through this particular stake. anthropic and google and amazon declined to comment. back to you. >> 18.4 $18.4 billion, i mean i grand sch
the proceeds will be used eventually to pay back ftx exercises. the banker of the process declined to comment in this story. and anthropic has raised more than $7 billion the past few years from tech giants including amazon and alphabet and salesforce, and the language model competing with open ai's chat gpt, these are class b shares sold at the same valuation i'm told as the company's last financing round which a source tells me $18.4 billion. the founders of anthropic pre-emptively told...
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sam bankman-fried is set to be sentenced today over the implosion of the crypto exchange ftx. we have mackenzie sigalos here with more. >> good morning. >> what are you expecting when this kicks off in court at 9:30? >> frank, this is sam bankman-fried's final chance to make a direct appeal to the judge. this is an old-school judge who is a legend in the southern districts of new york. he had zero patience for sam's appeal on the stand in october can sam change the judge's mind? the only way he can do that is if he takes the stand and if this time around he accepts responsibility for what happened to ftx customers the judge will also give the government and defense one last chance to make their arguments without a jury in the room, there is nothing off limits. sam bankman-fried's attorney helped a previous client get a four four-year sentence it is possible the victims will take the stand from there, it is all the judge who gives long speeches with the rulings like when he sent sam bankman-fried back to jail in august. >> what are you hearing in terms of possible sentencing wh
sam bankman-fried is set to be sentenced today over the implosion of the crypto exchange ftx. we have mackenzie sigalos here with more. >> good morning. >> what are you expecting when this kicks off in court at 9:30? >> frank, this is sam bankman-fried's final chance to make a direct appeal to the judge. this is an old-school judge who is a legend in the southern districts of new york. he had zero patience for sam's appeal on the stand in october can sam change the judge's...
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. >>> over to today's breaking news that is that ftx founder sam bankman-fried sentenced now to 25 years in prison kate roone you is live out the courthouse with the story. hi, kate. >> reporter: hey, there tyler. sam bankman-fried sentenced to 25 years in prison the big headline for what u.s. prosecutors argue was one of the biggest financial frauds in u.s. history. capped off the fall of the one-time crypto billionaire less than two years ago, living in a $30 million penthouse in the bahamas and really the face of the crypto industry. today, took the stand in a beige prison jumpsuit pleading for the judge's leniency much more contrite, apologetic than defiance and evasion heard from him on the stand where cross-examined in the fall in his criminal trial he said today his actions haunt hi every day. forfeit $11 billion part of the sentencing and admonished. the 32-year-old pointed to the "enormous harm and brazenous of his actions" and exceptional flexible with the truth and lack of any reremorse and obstructed justice, committed perjury at least three times on the witness stand. he did
. >>> over to today's breaking news that is that ftx founder sam bankman-fried sentenced now to 25 years in prison kate roone you is live out the courthouse with the story. hi, kate. >> reporter: hey, there tyler. sam bankman-fried sentenced to 25 years in prison the big headline for what u.s. prosecutors argue was one of the biggest financial frauds in u.s. history. capped off the fall of the one-time crypto billionaire less than two years ago, living in a $30 million penthouse...
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customers and victims here any comment on the bankruptcy lawsuit against you here anything to say to ftx customers? >> we ask that you respect us -- >> what are you going through now? >> reporter: what is your legal advice as an attorney what he would do >> i'm not making -- >> how are you feeling today >> no comment. >> just your feelings. has it been -- >> do you think this trial has been fair? >> reporter: has this been a fair trial >> let him go. >> reporter: okay, guys. hi, guys, sorry. we just saw sam bankman-fried's parents leave the courthouse they're walking down here in lower manhattan. no comment from the parents, joseph bankman is a lawyer himself. both of the parents have law degrees and were legal scholars. they did not have a comment. they paused and said, take our picture, but please respect our space here clearly emotional looking at the cameras and taking a moment, but they're walking away, the two of them, under an umbrella. it's raining as you can see in lower manhattan. their son has just been sentenced to 25 years in prison. we do expect an appeal they've been here
customers and victims here any comment on the bankruptcy lawsuit against you here anything to say to ftx customers? >> we ask that you respect us -- >> what are you going through now? >> reporter: what is your legal advice as an attorney what he would do >> i'm not making -- >> how are you feeling today >> no comment. >> just your feelings. has it been -- >> do you think this trial has been fair? >> reporter: has this been a fair trial...
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that was at the time ftx collapsed, but not going to get their crypto-currency, meaning some may have missed out on bitcoin's 300% rise since then, mel. >> wow kate, thank you. kate rooney, who has been covering this trial since the beginning. but to think about this as the biggest financial fraud in history, we've had -- >> we sure have. >> remarkable ones and to think this one is the biggest is -- >> well, some of the things that characterize a fraud, or kind of a go-go period where there's not a lot of due diligence involved, there's people that didn't do their work, but i think it was also a period of really extraordinary, you know, kind of risk-on and a place certainly in crypto and digital land where a lot of people, i think, were careless about who they invested in the fact is that this was a guy that really, part of this sentence, it almost sounds like some of that showed zero remorse, and that's part of it >> biggest fraud, but very short-term the real big one was the -- you don't want to promise too much madoff kept them going for decades. that's a whole different game. >> y
that was at the time ftx collapsed, but not going to get their crypto-currency, meaning some may have missed out on bitcoin's 300% rise since then, mel. >> wow kate, thank you. kate rooney, who has been covering this trial since the beginning. but to think about this as the biggest financial fraud in history, we've had -- >> we sure have. >> remarkable ones and to think this one is the biggest is -- >> well, some of the things that characterize a fraud, or kind of a...
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new head of the ftx in a letter to the judge called statements categorically false. a metaphorical dumpster fire a debate over losses will be key today. typically larger the loss, longer the sentence. bankruptcy stestate $7 billion n customer assets. they won't get cryptocurrency back meaning missed out on bitcoin's 300% rise since then judge has sole discretion today. the fact sam bankman-fried testified intimidating witnesses and may have perjured himself could weigh on that decision, guys. >> kate, a long discussion about this earlier this morning. i guess trying to figure out where they come down i don't know what you're hearing from people. you've been talking to about this opinion they think 20 to 30 years according to one reporter we spoke with earlier. come down in the middle of the two sides? >> reporter: seems to be the average, becky i spoke to the lawyer who prosecuted madoff. ensure as long enough sentence not to come back and commit another financial crime. the consensus at this point saying -- other experts said the floor is essentially 11 years when h
new head of the ftx in a letter to the judge called statements categorically false. a metaphorical dumpster fire a debate over losses will be key today. typically larger the loss, longer the sentence. bankruptcy stestate $7 billion n customer assets. they won't get cryptocurrency back meaning missed out on bitcoin's 300% rise since then judge has sole discretion today. the fact sam bankman-fried testified intimidating witnesses and may have perjured himself could weigh on that decision, guys....
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. >> ftx, this is according to bankruptcy filings as we reported on friday there's a major sovereign wealth fun when it comes to an tropic the uae was interested, and they said they would not accept anything from the saudis because of the national security risk, and the reason the stake is being unloaded is because of the bankruptcy process the sales we are hearing, it's worth about $880 million another major backer, it's where sam bankman-fried began his career the sales are subject to bankruptcy court approval, scott. >> thank you >>> coming up, another big story we are following, boeing ceo stepping down. steve weiss just bought the stock on friday, and we will get a trade update from him on that. we have other stock trades on the move as well, and we are back in two minutes. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. the go-tos that keep us going. the places we cheer. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. see why comc
. >> ftx, this is according to bankruptcy filings as we reported on friday there's a major sovereign wealth fun when it comes to an tropic the uae was interested, and they said they would not accept anything from the saudis because of the national security risk, and the reason the stake is being unloaded is because of the bankruptcy process the sales we are hearing, it's worth about $880 million another major backer, it's where sam bankman-fried began his career the sales are subject to...
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sam bankman-fried, the former ceo of ftx, seen as the legitimate face of the cryptocurrency industry, now sentenced to 25 years, capping off what prosecutors call one of the largest financial frauds in u.s. history, ordering him to forfeit $11 billion, recommending jail in the san francisco bay area the defense team, key lawyer, said there will be an appeal we also have a statement from sam bankman-fried's family saying we are heart broken and will continue to fight for our son. the judge today talked about the enormous harm sam bankman-fried did, and his exceptional flexibility with the truth and an apparent lack of any real remorse, which we got some of the reasoning behind his sentencing one of the key parts, perjury and lack of remorse played into the sentencing >> what was the emotion in the courtroom? you were outside as people were leaving, but what was the emotion from his parents >> reporter: from his parents, i was face to face with his parents as they walked out we were asking for a comment they said, please respect our space and our time here. they did kind of pause for a
sam bankman-fried, the former ceo of ftx, seen as the legitimate face of the cryptocurrency industry, now sentenced to 25 years, capping off what prosecutors call one of the largest financial frauds in u.s. history, ordering him to forfeit $11 billion, recommending jail in the san francisco bay area the defense team, key lawyer, said there will be an appeal we also have a statement from sam bankman-fried's family saying we are heart broken and will continue to fight for our son. the judge today...
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Mar 26, 2024
03/24
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CNBC
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look at a show like show gunn, that's on ftx, but also on hulu. you can see that same phenomenon plague out an i.d. show is right now number one on max so sort of the special exclusive content for streaming is really getting pressure and i think that's part of the reason why subscriber growth is slowing. and it's just -- it points out i think what you're hitting at, which is making this transition from an incredible business, where everybody paid for every channel, to a streaming business where every day, you can scchooe to click on or off, subscribe or unsubscribe, is a dramatic different business and i think that plays back to the whole disney debate around activism and what's happening with the board, is what happens with secession the number one disney has to figure out over the next three year is bob iger can't stay forever. i know he's been there a long time now and came back, but they need to figure out a new ceo >> yep, we're playing it out "the gentlemen," that's a good one. a programming note, new disney board member james gorman will be
look at a show like show gunn, that's on ftx, but also on hulu. you can see that same phenomenon plague out an i.d. show is right now number one on max so sort of the special exclusive content for streaming is really getting pressure and i think that's part of the reason why subscriber growth is slowing. and it's just -- it points out i think what you're hitting at, which is making this transition from an incredible business, where everybody paid for every channel, to a streaming business where...
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Mar 28, 2024
03/24
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CNNW
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the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all those involved saying his decisions, quote, haunt him every day. let's bring in cnn's kara scannell and sara fischer as well. so, so kara, a very basic question here. will spf, victims get any or close to all of their money back? >> it looks. like they will get some of their money back. the question will be, is it 100 cents on the dollar, which is what bankman-fried was arguing to the judge in that people will be taking care of who should get a lenient sentence. prosecutors say, not so fast that there is, there is recovery. there was this big bankruptcy proce
the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all...