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Mar 29, 2024
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there is only regulatory uncertainty around the rest of crypto. and and i think a lot of people are disappointed by politicians in general on both sides who overpromise and underdeliver, all the while enriching themselves to the point of generational wealth while they opine how sad it is that we no longer have a middle class. and one of of the best things about bitcoin is it isen inherently apolitical. it removes the power that comes with manager able to manipulate money and print limitless unit withs, and it really unchains capital from the prison of politics. so no matter who gets elected, i think bitcoin going to shine. kelly: ewell, certainly, that's something that a we're going to be curious to see about the candidates as they come out. before i let you go, i wanted to bring up etherium. larry fink says that he doesn't think it would have much bearing on an etf, a spot etf ai improvement what do you think? >> look, when i entered the space, i was confused. why are people saying bitcoin is so different, and i experimented, and then i really le
there is only regulatory uncertainty around the rest of crypto. and and i think a lot of people are disappointed by politicians in general on both sides who overpromise and underdeliver, all the while enriching themselves to the point of generational wealth while they opine how sad it is that we no longer have a middle class. and one of of the best things about bitcoin is it isen inherently apolitical. it removes the power that comes with manager able to manipulate money and print limitless...
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Mar 29, 2024
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crypto is trading as it does 24/7 and it is making unusual moves. meantime it is my honor to bring kelly o'grady to this, kelly was all over the sam bankman-fried and you are putting up with crazy people walking around you and that's just your producer. a lot of people, couldn't understand this, were saying 25 years, he got off lightly. that still a lot of time. >> it is. he's 32 years old. there's a lot of factors that go into sentencing. the message it sends to society and to him but can he be rehabilitated. something that goes into revegetation's where he is going to spend his next 25 years. we took a little bit of a look into that. the judge suggested he be transferred to long-term facility as low or medium security facility and one of the big things they were focusing on in the defense argument was his diet. why looked at various prison standards standard menu, chickpea tacos, baked ziti, the judge recommended that he would serve that 25 years in the san francisco bay area. you can see those on-screen, low security gives you more flexibility to
crypto is trading as it does 24/7 and it is making unusual moves. meantime it is my honor to bring kelly o'grady to this, kelly was all over the sam bankman-fried and you are putting up with crazy people walking around you and that's just your producer. a lot of people, couldn't understand this, were saying 25 years, he got off lightly. that still a lot of time. >> it is. he's 32 years old. there's a lot of factors that go into sentencing. the message it sends to society and to him but...
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Mar 29, 2024
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do the crypto markets care? have we beyond sbf? >> indeed, ashley. almost reminds me back in 2004 when it was -- excuse me, in 2014 when it was mount gox was the crypto blowup of the ere arrowhead and it survive that had and it'll survive sbf. it was new technology but very old time fraud. very traditional old fraud and justice was served. whether you want to buy crypto or not, ashley, it's a different story. only 2% of the people that own crypto use it as a currency but sbf, justice is served and new technology and old fraud to the whose house he goes. ashley: very quickly. it's been a pretty darn good first quarter and s&p gaining 10% and nasdaq 9 and dow 5.5 and new quarter begins monday. can we keep this no mentum? >> i think it's in new areas of the market, ashley. i'm looking at areas like natural gas for example, scg isen etf i like that's off the radar screen play. the big tech names that have led the market for the last five years and look, international paper at a new 52 week high. jp morgan, banks are doing very well. stocks can continue w
do the crypto markets care? have we beyond sbf? >> indeed, ashley. almost reminds me back in 2004 when it was -- excuse me, in 2014 when it was mount gox was the crypto blowup of the ere arrowhead and it survive that had and it'll survive sbf. it was new technology but very old time fraud. very traditional old fraud and justice was served. whether you want to buy crypto or not, ashley, it's a different story. only 2% of the people that own crypto use it as a currency but sbf, justice is...
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Mar 29, 2024
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what happens to the money and crypto crook sam bankman-fried. he will serve a lengthy 25 year prison sentence for orchestrating one of the largest financial frauds in history. all the investors will be made home. kelly o'grady is watching the story like a hawk all week. good morning. >> good morning. we're expecting his legal team to mount an appeal next. sbf will find out why he serves the sentence. a low or medium security. dorm-style beds. white collar criminals. medium sleep on a steal bed and share a cell with violent criminals. inmates can enjoy racquetball and learn to crochet. victorville another medium option. he can paint a mural. he is vegan and look to keep that diet. i checked out the bureau of prisons everything from tofu and soy taco saaliad. those activities might sound fun. not a walk in the park. inmate deaths, epa violations. not as bad as a jail he spent a few days in in another country. >> dana: i go to the pilates place. i don't like this idea of the soy taco bowl but pilates was very interesting. i don't play foose ball or
what happens to the money and crypto crook sam bankman-fried. he will serve a lengthy 25 year prison sentence for orchestrating one of the largest financial frauds in history. all the investors will be made home. kelly o'grady is watching the story like a hawk all week. good morning. >> good morning. we're expecting his legal team to mount an appeal next. sbf will find out why he serves the sentence. a low or medium security. dorm-style beds. white collar criminals. medium sleep on a...
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Mar 29, 2024
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kelly, what's next for the former crypto king? >> reporter: so is,ing ashley, his legal team will mount an appeal, but sbf is also a set to find out what his long-term dig cans look like. the judge recommended bankman-fried serve his sentence at a low or medium security fit. anything above 20 years requires one of those medium ficialghts but the bureau of prisons will ultimately decide which one. the. judge lambasted sbf yesterday as a scammer though he urged the bop to take into account his autism when determining the facility. cap lain also a recommended it be with in the bay area so his parents can visit more easily. you've got low security which affords more dormitory-style beds, or your white collar criminals, a medium would see sbf sleeping on steel beds with violent criminals as potential cell meats. -- cell mates. a web site shares inmates can enjoy foosball, act debtball with, tech learn to croce. victorville is a another option, he can even paint if a mural. and, of course, he's also going to look to keep his vegan diet
kelly, what's next for the former crypto king? >> reporter: so is,ing ashley, his legal team will mount an appeal, but sbf is also a set to find out what his long-term dig cans look like. the judge recommended bankman-fried serve his sentence at a low or medium security fit. anything above 20 years requires one of those medium ficialghts but the bureau of prisons will ultimately decide which one. the. judge lambasted sbf yesterday as a scammer though he urged the bop to take into account...
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Mar 29, 2024
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this morning, the one time king of crypto is off to federal prison for 25 years, although experts say that sentence could be cut in half with good behavior. and by completing prison rehab programs. ftx was the premier crypto exchange, but it collapsed in late 2022 after bankman-fried used billions in customer funds to keep his hedge fund, alameda research, afloat. at his trial, prosecutors played this abc news interview. >> so you do know, and you did know that fdx deposits were being funneled to alameda. >> so i was vaguely aware that that was how some wires were being sent in the first place. >> didn't that set off alarm bells in your head? >> so there are a lot of people who are involved in that process. and look, i really deeply wish that i had taken like a lot more responsibility for understanding what the details were of what was going on there. >> his lawyer, seeking a more lenient sentence, described bankman-fried as an awkward math nerd, but his victims claim he was more calculating, one telling the judge he lost money. i wanted to spend on a family home, another saying it wa
this morning, the one time king of crypto is off to federal prison for 25 years, although experts say that sentence could be cut in half with good behavior. and by completing prison rehab programs. ftx was the premier crypto exchange, but it collapsed in late 2022 after bankman-fried used billions in customer funds to keep his hedge fund, alameda research, afloat. at his trial, prosecutors played this abc news interview. >> so you do know, and you did know that fdx deposits were being...
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Mar 29, 2024
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the one-time king of crypto headed to prison. how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>> a split-screen moment in new york city. donald trump attends the wake of a fallen police officer, while president obama and president clinton seek to help president biden in a fundraiser. >>> and can anybody else literally get into the 2024 race? >>> and from one texan to another, beyonce's act two is finally here. the meg a stars who collaborate with queen bey on cowboy carter. "early today" starts right now. good morning to you. i'm frances rivera. we again begin with the latest developments in baltimore. the white house announcing the release of $60 million to help with rebuilding the francis scott key bridge. special equipment has been sent to help clear the blocked channel, while the search for the remains of the four missing workers continues. here's alice barr. >> reporter: the impact that struck the heart of baltimore. >> the whole bridge just fell down. >> reporter: now rippling ac
the one-time king of crypto headed to prison. how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>> a split-screen moment in new york city. donald trump attends the wake of a fallen police officer, while president obama and president clinton seek to help president biden in a fundraiser. >>> and can anybody else literally get into the 2024 race? >>> and from one texan to another, beyonce's act two is finally here. the meg a...
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the one-time king of crypto headed to prison. how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>>
the one-time king of crypto headed to prison. how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>>
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Mar 29, 2024
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and in listing celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: and basketball star steph curry good i'm not an expert, and i don't need to be. >> reporter: to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto star's rise and fall and has been in contact with him while detained. he says the man is hard wired for risk. >> you put your hand on a hot stove, and you don't know to take it off until it's burned to a crisp. he didn't feel risk. >> reporter: now, there is no parole for federal crimes, but good behavior can reduce time served. bankmanfried's lawyers will appeal this sentence, and judge kaplan recommends he serve in a medium security prison in the bay area of northern california, norah. that's closer to bankman-fried's parents. >> errol barnett, thank you so much. >>> as russia escalates its attacks on ukraine, president volodymyr zelenskyy spoke with speaker of the house mike johnson today, telling
and in listing celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: and basketball star steph curry good i'm not an expert, and i don't need to be. >> reporter: to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto star's rise and fall and has been in contact with him while detained. he says the man is...
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Mar 29, 2024
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to 25 years in prison after crypto fraud stealing billions of customers, your reaction i know you're predicting that bitcoin can hit $100,000. >> yes. bitcoin 100,000 before the end of the year in ethereum 5000 before the end of the year are my targets. in terms of sam bankman-fried it's so great to see someone criminally prosecuted and sentenced. in terms of the tenor of the sentence it won't be long enough we did not have near enough connection to fts thankfully but i will say it's good that were closing the chapter on essentially a lot of fraudulent and criminal activity i thinking crypto. i wish that the regulators would get their act together with legislatures and make this industry much more credible. it's their fault frankly i think they've done a slow roll on both ends but nevertheless the industry is mature so much so obviously bitcoin etf's have been reported widely in the past week we've seen blackrock launch a money market fund that's focused on ethereum were seeing real world cases tokenized in the gold fund. we'll see a lot of financial products tokenized because it's f
to 25 years in prison after crypto fraud stealing billions of customers, your reaction i know you're predicting that bitcoin can hit $100,000. >> yes. bitcoin 100,000 before the end of the year in ethereum 5000 before the end of the year are my targets. in terms of sam bankman-fried it's so great to see someone criminally prosecuted and sentenced. in terms of the tenor of the sentence it won't be long enough we did not have near enough connection to fts thankfully but i will say it's good...
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. >>> former crypto mogul sam bankman-fried sentenced to 25 years for massive fraud. his apology in court before learning his fate. >>> on the east coast, the soaking rain and flood risk. >>> the race for 2024. president biden sharing the stage tonight with barack obama and bill clinton at a star-studded fundraiser. just miles away, former president trump at the wake for a slain nypd officer as he campaigns on the issue of crime. >>> the mission to protect the giants of the sea. inside the new whale traffic control. >>> and as small-town papers disappear, harry smith takes us to maine, where local news is getting a lifeline. >> announcer: this is "nbc nightly news" with lester holt. >> good evening and welcome. tonight, we are getting our closest look yet at the precarious remains of baltimore's francis scott key bridge and the out-of-control container ship that toppled it. our team out with the army corps of engineers today as they prepare for the formidable challenge of clearing the blocked channel. tonight, special equipment is on the way to begin the work, while t
. >>> former crypto mogul sam bankman-fried sentenced to 25 years for massive fraud. his apology in court before learning his fate. >>> on the east coast, the soaking rain and flood risk. >>> the race for 2024. president biden sharing the stage tonight with barack obama and bill clinton at a star-studded fundraiser. just miles away, former president trump at the wake for a slain nypd officer as he campaigns on the issue of crime. >>> the mission to protect...
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what do we think this means for the crypto industry? >> well, there are a few pieces i think are fair to expect to come in the future. first, there's obviously this piece of continuing to make the customers and victims of the sam bankman-fried scheme whole. that's one piece still being resolved. and then there's this regulatory piece specifically looking at fraud and the digital asset space. fully understanding, realizing, and pinpointing the risks that come with this growing part of the financial sector. and then i think you also have this signal that the sentencing really brought a signal that people who hold enormous power in this space will be punished. this is not something that can be slapped away with a fine and then, you know, we'll move on from there. there are serious consequences here. >> 25 years certainly a serious consequence. joining us from d.c. economics reporter for "the washington post," rachel siegel, thank you. >>> still ahead here on "way too early," former republican congresswoman liz cheney is warning about the d
what do we think this means for the crypto industry? >> well, there are a few pieces i think are fair to expect to come in the future. first, there's obviously this piece of continuing to make the customers and victims of the sam bankman-fried scheme whole. that's one piece still being resolved. and then there's this regulatory piece specifically looking at fraud and the digital asset space. fully understanding, realizing, and pinpointing the risks that come with this growing part of the...
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i don't know what that says about the elite, but it sounds worse than crypto. kelly, thank you so much. georgia and the trump team bac ghting tt elk with inner election interferencl by a fani willis dropped. it is unconstitutional to accuso the president of theri united states, former president or anyone else to stand trial on protected speecher a. >> it is not that he just laid over and over and over again but each of those was employed as part of criminal activity with j criminal intentions.oi >> will: joining me sol wisenberg former deputy independent counselor and fox news contributor and localoa clerk for justice for search and article 3 project.rgum so mike, we heard the argumentsn to date in front of the judgent hear the defense made the argument as protected first amendmenargut political speech. the prosecution is making the argument that it is part of conspiracy, criminal conspiracy. it seems to me that came down to the ability to prove knowing or intent that whatever was said, the speaker in this casese f donald trump and fellow defendants knew what t
i don't know what that says about the elite, but it sounds worse than crypto. kelly, thank you so much. georgia and the trump team bac ghting tt elk with inner election interferencl by a fani willis dropped. it is unconstitutional to accuso the president of theri united states, former president or anyone else to stand trial on protected speecher a. >> it is not that he just laid over and over and over again but each of those was employed as part of criminal activity with j criminal...
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Mar 29, 2024
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., , , crypto world? well, 25 years is a “oke, crypto world? well, 25 years is a joke. is _ crypto world? well, 25 years is a joke, is what _ crypto world? well, 25 years is a joke, is what i've _ crypto world? well, 25 years is ajoke, is what i've heard, - a joke, is what i�*ve heard, lovable. there are many people disappointed by the sentence, as substantial as it is, because of how much money people lost. because of how much money people lost-— because of how much money people lost. because of how much money --eole lost. ~ . . ., ., , people lost. what damage has it done to the _ people lost. what damage has it done to the crypto _ people lost. what damage has it done to the crypto investment? | done to the crypto investment? has it damaged it? is it still damaged des�*s are still damaged or has it rehabilitated itself? the crypto markets have recovered, now we are seeing bitcoin at higher prices than ever before, but i would argued that the sentence among investors who may have been interested in crypto has changed and also the way bu
., , , crypto world? well, 25 years is a “oke, crypto world? well, 25 years is a joke. is _ crypto world? well, 25 years is a joke, is what _ crypto world? well, 25 years is a joke, is what i've _ crypto world? well, 25 years is ajoke, is what i've heard, - a joke, is what i�*ve heard, lovable. there are many people disappointed by the sentence, as substantial as it is, because of how much money people lost. because of how much money people lost-— because of how much money people lost....
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Mar 29, 2024
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and it became really popular as the crypto industry grew and grew. and then in november, 2022 there was essentially a run on a bank, and that exposed a big age billion dollars -- $8 billion hole in the money that ftx was supposed to be holding on behalf of its customers. and that kind of kick started this series of events that kind of brought the whole edifice crashing down. william: and so those people who had quote unquote bank their money in his exchanges, they lost all the money. those are the victims in this case. >> those are sort of one subset of the victims. they're probably the largest subset. um, but the other victims, including, you know venture capital investors, who put in more than a billion dollars into ftx and also lenders who gave money to companies in bankman fried's empire. william: so the $11 billion that he's been ordered to pay. who is that? or where is that supposed to go? >> um, that's actually going to the u.s. government. that's not restitution. that's going to victims. but really that number is kind of academic because bank
and it became really popular as the crypto industry grew and grew. and then in november, 2022 there was essentially a run on a bank, and that exposed a big age billion dollars -- $8 billion hole in the money that ftx was supposed to be holding on behalf of its customers. and that kind of kick started this series of events that kind of brought the whole edifice crashing down. william: and so those people who had quote unquote bank their money in his exchanges, they lost all the money. those are...
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Mar 29, 2024
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king of crypto is off to federal prison for 25 years. before he was sentenced today, bankman-fried apologized for his $11 billion fraud. "i made a series of bad decisions," he said, "it haunts me every day." but the judge not buying it, noting there was never a word of remorse for the commission of terrible crimes. >> you just need ftx. >> you just need ftx! >> reporter: with celebrity endorsements and bankman-fried's guarantees money would be safe, ftx became the premier crypto exchange. it collapsed in late 2022 after bankman-fried used billions in ftx customer funds without permission to keep his privately controlled hedge fund alameda research afloat. at trial, prosecutors playing this abc news interview. >> so, you do know, and you did know, that ftx deposits were being funneled to alameda? >> so, i was vaguely aware that that was how some wires were being sent in the first place. >> didn't that set off alarm bells in your head? >> so, there are a lot of people who were involved in that process, and, look, i really deeply wish i had
king of crypto is off to federal prison for 25 years. before he was sentenced today, bankman-fried apologized for his $11 billion fraud. "i made a series of bad decisions," he said, "it haunts me every day." but the judge not buying it, noting there was never a word of remorse for the commission of terrible crimes. >> you just need ftx. >> you just need ftx! >> reporter: with celebrity endorsements and bankman-fried's guarantees money would be safe, ftx...
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Mar 29, 2024
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failed for 25 years, a former billionaire crypto boss sam bankman-fried is cvicted of one of the biggest financial frauds in u.s. history. also coming up on "the world today," tackling homelessness through football. we look at a new netflix movie helping to make a change. ♪ hello and welcome to the world today from bbc news where we start with breaking news coming in to us now from south africa, where at least 45 people have died in a bus crash. the department of transport says the vehicle, traveling from botswana to limpopo province, plunged off a high bridge into a ravine after colliding with the crash barrier. it then burst into flames when it hit the ground. local media is reporting that an eight-year-old girl was the only survivor. the precise cause of the crash is currently being investigated. just to reiterate what we just told you, there has been a serious bus crash in south africa. transportation authorities have been informing us that we believe that 45 people at least have been killed in this crash. this vehicle plunged off a high bridge into a ravine, colliding with a crash
failed for 25 years, a former billionaire crypto boss sam bankman-fried is cvicted of one of the biggest financial frauds in u.s. history. also coming up on "the world today," tackling homelessness through football. we look at a new netflix movie helping to make a change. ♪ hello and welcome to the world today from bbc news where we start with breaking news coming in to us now from south africa, where at least 45 people have died in a bus crash. the department of transport says the...
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Mar 28, 2024
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so 25 years, that is the penalty for the former crypto king. the defense tried to argue that sam bankman-fried diet and lack of social skills warranted lesser prison time. that fell on deaf ears. it will be served in san francisco. i want to share a statement from damian williams on the news today. he said quote his deliberate and ongoing lies demonstrated brazen disregard for representation and disrespect for the rule of law use his customers' money to expand his own power and influence. the judge really zeroed in on that power and influence point today hammering how he used customer money on political donations he pointed to it as a reason he didn't believe sbf good boy crypto act. there was a lot of focus on harm. the defense argued there is none given customers are expected to get all their money back through the bankruptcy process he rejected that he held him responsible for 8 billion in customer losses and another 3 billion for investors and lenders. i will note new york law is bawl intent here not actual law. we heard from sbf. he said h
so 25 years, that is the penalty for the former crypto king. the defense tried to argue that sam bankman-fried diet and lack of social skills warranted lesser prison time. that fell on deaf ears. it will be served in san francisco. i want to share a statement from damian williams on the news today. he said quote his deliberate and ongoing lies demonstrated brazen disregard for representation and disrespect for the rule of law use his customers' money to expand his own power and influence. the...
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Mar 28, 2024
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tonight, former crypto-currency mogul sam bankman-fried sentenced to 25 years in prison in one of the largest financial fraud cases in u.s. history. more on that in a moment. >>> but we begin with the stunning new images just coming in from onboard the cargo ship that brought down baltimore's francis scott key bridge. new images just coming in from the ntsb show inspectors probing the damage, the twisted metal of the bridge draped across the front of the ship. onboard, they found 56 containers of hazardous materials. some broken open, spilling into the water. officials say there is no immediate threat. our team out on the water today with the army corps of engineers. cranes are on the way to clear the debris and tow the ship away. and then to recover theed bos of the four missing construction workers trapped underneath. abc's elizabeth schulze on the scene tonight. >> reporter: tonight, a massive >> reporter: tonight, a first look inside the cargo ship that crashed into baltimore's francis scott key bridge. ntsb investigators combing through the catastrophic damage, collecting evidenc
tonight, former crypto-currency mogul sam bankman-fried sentenced to 25 years in prison in one of the largest financial fraud cases in u.s. history. more on that in a moment. >>> but we begin with the stunning new images just coming in from onboard the cargo ship that brought down baltimore's francis scott key bridge. new images just coming in from the ntsb show inspectors probing the damage, the twisted metal of the bridge draped across the front of the ship. onboard, they found 56...
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Mar 28, 2024
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and enlisting celebrities, including quarterback tom brady peer to begun getting into crypto. >> reporter: basketball steph curry. speak are not expert and i don't need to be. >> reporter: to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto stars rise and fall and has been in contact with him while detained. he says the man is hardwired for risk. >> you put your hand on a hot stove and you don't know to burn to a crisp come he doesn't feel. >> reporter: now there is no parole for federal crimes, but good behavior can produce time served. bankman-fried's lawyers will appeal the sentence, and jud judge kaplan recommends he served in a medium security prison in the bay area of northern california, norah, that's closer to bankman-fried's parents. >> norah: errol barnett, thank you so much. as russia escalates attacks on ukraine, president matt volodymyr zelenskyy spoke with speaker of the house mike johnson today, telling himt is vital that congress pa
and enlisting celebrities, including quarterback tom brady peer to begun getting into crypto. >> reporter: basketball steph curry. speak are not expert and i don't need to be. >> reporter: to promote his brand. back in november, a jury unanimously found bankman-fried guilty of seven counts, including conspiracy, fraud, and money laundering. michael lewis wrote a book on the crypto stars rise and fall and has been in contact with him while detained. he says the man is hardwired for...
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Mar 28, 2024
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CNBC
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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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sentencing de for sam bankman-fried, the 32 once known as a crypto king now we'll spend decades behind bars for one of the biggest financial fraud cases ever. his plea for mercy, the scolding he heard from the judge, and the customers, he swindled. can they ever get their money back? >> plus >> heavy lift cranes will soon be on the seam of the deadly bridge collapse in baltimore ready to move metal off the cargo ship that hit the bridge? just how many other us bridges are at risk of falling if they two, or hit with the same force. and universities now charging students a whopping $90,000 a year here, where exactly all that money goes and just how far off pace it is with inflation welcome, to the lead on jim sciutto in for jake tapper and we begin with our tech lead. sam bankman-fried is now doing time for cryptocurrency crimes a judge is centered. the former ceo of the collapsed crypto exchange, ftx today, to 25 years in prison after jurors found him guilty of stealing $8 billion in savings from his customers. us attorney for the southern district of new york summed it up this way, quo
sentencing de for sam bankman-fried, the 32 once known as a crypto king now we'll spend decades behind bars for one of the biggest financial fraud cases ever. his plea for mercy, the scolding he heard from the judge, and the customers, he swindled. can they ever get their money back? >> plus >> heavy lift cranes will soon be on the seam of the deadly bridge collapse in baltimore ready to move metal off the cargo ship that hit the bridge? just how many other us bridges are at risk of...
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. >>> the crypto king is going to jail for at least 25 years. getting the news today at their a lot of legals around this but the bottom line is bitcoin more than costing him coin after this. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. this is terry's look of total relaxation. and this is his john deere x350 lawn tractor. it does more than just cut grass. ♪ it delivers peace of mind, all year round. ♪ you just have to get in the seat. [ ♪♪ ] >> alright take a look at this this is downtown manhattan outside radio city music hall. the home
. >>> the crypto king is going to jail for at least 25 years. getting the news today at their a lot of legals around this but the bottom line is bitcoin more than costing him coin after this. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give...
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Mar 28, 2024
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the fall of one of the longtime crypto billionaire two years ago. he was leading a $30 million penthouse in the bahamas, he was really the face of the crypto industry at the time. today he took the stand in a beige prison jumpsuit pleading for the judges leniency. he was cross-examined back in the fall during his criminal trial. he said today that his actions quote, haunt him every day. he also said, i'm sorry. the judge asking him to forfeit $11 billion. the 32-year-old pointed to the, quote, and not harm he did, the brazenness of his actions. the exceptional flexibility of the truth and his apparent lack of any real remorse. he said he obstructed justice, committed perjury at least three times on the witness stand. they were at risk of committing crimes in the future. he said it is not a trivial risk at all that he comes i can commit another crime. judge kaplan also talked about his risk appetite. said his fraud was another example of this in his penchant for gambling. he was found guilty in november on seven counts of fraud and conspiracy. his fa
the fall of one of the longtime crypto billionaire two years ago. he was leading a $30 million penthouse in the bahamas, he was really the face of the crypto industry at the time. today he took the stand in a beige prison jumpsuit pleading for the judges leniency. he was cross-examined back in the fall during his criminal trial. he said today that his actions quote, haunt him every day. he also said, i'm sorry. the judge asking him to forfeit $11 billion. the 32-year-old pointed to the, quote,...
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Mar 28, 2024
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he said the good boy crypto act was a lie. and one nugget, the judge really honed in on the campaign finance violations. remember, the political donations came up during the trial, but he wasn't charged on that. and when giving the sentence, kaplan repeatedly talked about how sbf was clued in enough to buy power and political influenceful he really used that as an example that he wasn't impacted by his neurological issues. you sort of zoom out, the sentencing is not just about sending a message to sam bankman-fried, the defendant, it's also about society and particularly the crypto industry. you mentioned bitcoin is up today but, of course, we will see where that goes. liz, of course, we are expecting an appeal going forward, but 25 years, you think about the other white collar criminals, only someone like bernie madoff got more than sam bankman-fried. liz: kelly, thank you very much. all right, let's get to charlie gasparino who's got more on the clawbacks and customer funds the ftx bankruptcy court has a managed to locate. e
he said the good boy crypto act was a lie. and one nugget, the judge really honed in on the campaign finance violations. remember, the political donations came up during the trial, but he wasn't charged on that. and when giving the sentence, kaplan repeatedly talked about how sbf was clued in enough to buy power and political influenceful he really used that as an example that he wasn't impacted by his neurological issues. you sort of zoom out, the sentencing is not just about sending a message...
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it's really not a player in the crypto space any longer. crypto is still alive and well and kicking. bitcoin's at $70,000. it hasn't had any impact necessarily on the price of the coin itself or the industry overall. but ftx is no longer. >> is he going to have the chance to try to shorten the sentence? >> i would imagine so. michael milken was convicted and sentenced to 24 months, got out in 22. elizabeth holmes may be able to also shorten her sentence. bernie madoff died in prison, so that -- many ways is a moot point. yeah, i suspect he might. my preference was that he serve the full time. this is -- this was a big fraud. one of the biggest frauds in the history of financial markets. and so you know, i think it's certainly a fair sentence, my own opinion, not a legal opinion. but you know, he did use nor money and did lose investor money and used it not only to live high on the hog, he made political donations, philanthropic contributions, all of those things with wasn't that was not his. a very serious set of crimes. 25 years, probably
it's really not a player in the crypto space any longer. crypto is still alive and well and kicking. bitcoin's at $70,000. it hasn't had any impact necessarily on the price of the coin itself or the industry overall. but ftx is no longer. >> is he going to have the chance to try to shorten the sentence? >> i would imagine so. michael milken was convicted and sentenced to 24 months, got out in 22. elizabeth holmes may be able to also shorten her sentence. bernie madoff died in...
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so crypto should be safer. we need to make it safer, and even to though it seemed like a hiney, new thing that -- shiny, new thing, it's something that bankman bankman fried just moved the money around. charles: yeah. this is crime 101. goes all the way back to time. and, by the i way, i hope next time we don't let the criminals write the laws. great seeing you or really appreciate you on this topic e. >> thank you. charles: all right, folks, i think sam bankman-fried deserved 110 years, and there should, as i was just saying, be a much deeper investigation into the venn isture capitalists and others who helped his meteoric rise. there was nothing special about sbf, the person. yeah, he's got an extraordinary the family and, of course, the smartest venture capitalists in silicon valley got behind him, but why? i mean, really. what they did was give him a stamp of approval, and that opened doors. it's a well-worn approach. it's been with done over and over again. with that approach you raise a lot of money, righ
so crypto should be safer. we need to make it safer, and even to though it seemed like a hiney, new thing that -- shiny, new thing, it's something that bankman bankman fried just moved the money around. charles: yeah. this is crime 101. goes all the way back to time. and, by the i way, i hope next time we don't let the criminals write the laws. great seeing you or really appreciate you on this topic e. >> thank you. charles: all right, folks, i think sam bankman-fried deserved 110 years,...
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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 say sam bankman-fried at risk of committing crimes in the future saying it's not a trivial risk at all, the judge put it. judge caplan talking about sam bankman-fried's risk appetite. fraud an example of his penchant for gambling opinion found seven counts of fraud and conspiracy the family saying we are heartbroken and will continue to fight for our son. his defense team plans to appeal back to you. >> kate, a pending appeal, or exp
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...
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so what does this mean for crypto overall, do you think, or does it mean anything for crypto overall? >> it means a lot of people who thought it was a legitimate long-term investment or a hedge for inflation, those people -- those people really lost. they lost out here. it looks like it was more like a casino or a game or a video game than anything else. i mean, look, there are legitimate ways to invest in crypto, but the really sad part about this story, there were a lot of people who were investing with him and in cryptocurrencies who shouldn't have been. this was not the right kind of investment for them. they should have been in something more in line with their own risk. there's already the risk of crypto and then you have the fraudulent actors in that space. >> yeah, i mean, there are parts of this story that without a doubt are laughable just because they're so crazy. >> you couldn't write it. >> on their face, but for people who are victims of it it's a whole other thing. christine romans and zeka faux, thank you so much. >>> the return of america's favorite pastime is officia
so what does this mean for crypto overall, do you think, or does it mean anything for crypto overall? >> it means a lot of people who thought it was a legitimate long-term investment or a hedge for inflation, those people -- those people really lost. they lost out here. it looks like it was more like a casino or a game or a video game than anything else. i mean, look, there are legitimate ways to invest in crypto, but the really sad part about this story, there were a lot of people who...
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we've seen crypto skyrocket. i wonder if this sentence, this conviction, the fact that a bad actor is being put away, if this does send a message to the crypto community, we are making things safer, in, we will see what happens with bitcoin today but certainly it's been on a run. i will send it back to you. neil: mentioned the prospect of appealing and where that stands but given the severity of the sentence, it's not as far as the judge could have had it go, makes you wonder what chances he would have. >> absolutely. a question i've been thinking about myself. when you have that 25 year sentence come down it is supplemental. for folks watching at home they are going 110, how could he not have gotten that? bernie madoff got over one hundred years, that was for someone who was at the end of their life. when you think of sentencing you think about the possibility of revocation or remorse, to to good in society going forward but even though they are going to appeal, he fired the folks that got connected to convictio
we've seen crypto skyrocket. i wonder if this sentence, this conviction, the fact that a bad actor is being put away, if this does send a message to the crypto community, we are making things safer, in, we will see what happens with bitcoin today but certainly it's been on a run. i will send it back to you. neil: mentioned the prospect of appealing and where that stands but given the severity of the sentence, it's not as far as the judge could have had it go, makes you wonder what chances he...
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the message he was sending to the crypto and industry, 25 years as the industry grew certainly sends a message. to give you a color on how he got there inside the courtroom, they try to paint him as a misunderstood nerd, he himself even spoke in his own defense think that he was sorry but i want to underscore that he never admitted responsibility or fault. he said that he regretted he was not able to fix things and that's very important because his legal team has indicated that they do intent to appeal his sentence as well as the conviction. when the judge put down that sentence, and the child he never made any attempt to conceal how he felt about sam bankman-fried. and today was no different, sam described himself as the good person of the crypto interest rate and that was alive. so harris, he will save that sentence in a medium security prison in san francisco so he is able to see his family but as i have said, he is looking to appeal this going forward. >> harris: kelly, thank you very much and a new round of polling shows donald trump widening his lead over president biden. one b
the message he was sending to the crypto and industry, 25 years as the industry grew certainly sends a message. to give you a color on how he got there inside the courtroom, they try to paint him as a misunderstood nerd, he himself even spoke in his own defense think that he was sorry but i want to underscore that he never admitted responsibility or fault. he said that he regretted he was not able to fix things and that's very important because his legal team has indicated that they do intent...
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i think there is a crypto of today and a crypto of the past. we are in a new institutional era of crypto. i think the trust is building significantly. you can see that in prices and the type of investors who are moving into crypto for the first time. i think that momentum is going to build for the foreseeable future. ed: bitwise asset ceo matt hougan, thank you for your time and what is happening with sam bankman-fried's sentencing. we will sit down with the ceo of walgreens to discuss the company's future. walgreens and the reinvention era right now. that conversation is coming up next. this is bloomberg technology. ♪ okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. ear
i think there is a crypto of today and a crypto of the past. we are in a new institutional era of crypto. i think the trust is building significantly. you can see that in prices and the type of investors who are moving into crypto for the first time. i think that momentum is going to build for the foreseeable future. ed: bitwise asset ceo matt hougan, thank you for your time and what is happening with sam bankman-fried's sentencing. we will sit down with the ceo of walgreens to discuss the...
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let's get another look at cryptos if we can. we should point out we are awaiting the sentencing of sam bankman-fried. adam, come back in here. does today's news have any significant impact on the crypto markets? we know that prosecutors want, what, 40, 50, 60 years and defense attorney says 5 years and appears the judge will come down hard. >> yeah, unlike what's happening in los angeles with reparations for dodger's stadium, there's no reparations in the market but there'll be certainly punishment for mr. bankman-fried. he did something he should never have done. he commingled his funds accounts with customer accounts. you can't do that. it's illegal. no matter how you slice it. he knows that he shouldn't have done that. he admitted it, which is why the trial happened very quickly and while he will be sentenced to jail. you know, markets, we live in such a strange world, ashley. you know, you and lauren talking about transgender sports in reparations and all the d do ovs and interpretations and the markets are very honest. you
let's get another look at cryptos if we can. we should point out we are awaiting the sentencing of sam bankman-fried. adam, come back in here. does today's news have any significant impact on the crypto markets? we know that prosecutors want, what, 40, 50, 60 years and defense attorney says 5 years and appears the judge will come down hard. >> yeah, unlike what's happening in los angeles with reparations for dodger's stadium, there's no reparations in the market but there'll be certainly...
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katie: i will be back for a special edition of bloomberg crypto at 12:00 p.m. eastern and of course you can catch david on the big take, bid take podcast. coming up joshua bolten comes up to talk about how the election risk will impact wall street. this is bloomberg. ♪ personalized financial advice from ameriprise can do more than help you reach your goals. -you can make this work. -we can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. great job astro-persons. over. boring is the jumping off point for all the un-boring things we do. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. taking chances is for skateboarding... and gas station sushi. not banking. th
katie: i will be back for a special edition of bloomberg crypto at 12:00 p.m. eastern and of course you can catch david on the big take, bid take podcast. coming up joshua bolten comes up to talk about how the election risk will impact wall street. this is bloomberg. ♪ personalized financial advice from ameriprise can do more than help you reach your goals. -you can make this work. -we can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our...
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you were a victim of the crypto kid. what is stunning to me, i don't know how much you had there. you actually -- he will go to jail. but your investment could actually be made whole. how is that possible? >> yes, it is a remarkable situation. the way you can see the value of these claims. anybody that has an account and properly filed a claim. basically all the accounts were swept clean and nothing in it. we had records of what was held there prior to the collapse of ftx. each month over the last year the hedge fund markets that fund these claims, in other words i could sell my claim for $0.82, $0.88, $0.90, etc. , as we get closer. because bitcoin has had such dramatic rises in value. many claims will be made close to whole or better than whole, it is extraordinary. remember, we were looking for $7 billion. looks like it has been found. there is precedence to this. many of the claimants in the madoff case were made close to whole and looks like it will happen in the ftx case as well. >> bill: it's up five times in a year, the etf or bitcoin. the people involved in this, not just
you were a victim of the crypto kid. what is stunning to me, i don't know how much you had there. you actually -- he will go to jail. but your investment could actually be made whole. how is that possible? >> yes, it is a remarkable situation. the way you can see the value of these claims. anybody that has an account and properly filed a claim. basically all the accounts were swept clean and nothing in it. we had records of what was held there prior to the collapse of ftx. each month over...
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we turn now to the former king of crypto, sam bankman-fried. he will be in court for master minding a billion dollar fraud scheme. he's potentially facing decades behind bars. aaron katersky has been following this from the start. he is at the courthouse in downtown manhattan. good morning, aaron. >> reporter: good morning, rebecca. sam bankman-fried was convicted of orchestrating one of the biggest financial frauds in american history. he's about to find out how he will be punished for it. once hailed the king of crypto, currency of the future, this morning sam bankman-fried faces sentences for old fashion crimes. lying, cheating, stealing. >> this kind of fraud, this kind of corruption, is as old as time. >> reporter: bankman-fried became a billionaire at 30, hiring celebrities to hike his exchange, ftx. >> you just need ftx! >> reporter: ftx collapsed in 2022. bankman-fried siphoned billions in funds. that was to keep a privately controlled hedge fund solvent. prosecutors say he deserves as much as 50 years in prison. his attorneys have aske
we turn now to the former king of crypto, sam bankman-fried. he will be in court for master minding a billion dollar fraud scheme. he's potentially facing decades behind bars. aaron katersky has been following this from the start. he is at the courthouse in downtown manhattan. good morning, aaron. >> reporter: good morning, rebecca. sam bankman-fried was convicted of orchestrating one of the biggest financial frauds in american history. he's about to find out how he will be punished for...
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issues, crypto complexity. instead they focussed on follow the money, look at the money, it was stolen that's what the case was about as quickly as the jury returned the verdict in this case, that's exactly how the jury perceived it i think the government did a great job trying the case. i think the defense did the best job with what it had, which was little the government gets high marks. >> on that note, jacob, it wasn't as planned, thought through ponzi scheme as with bernie madoff. the prosecutors didn't have that much evidence. the rebound we've seen in crypto prices, had bankman-fried did this temporarily, might he have got away with it all >> well, you know, that's a great question i think the judge is very much going to view his conduct as very much premeditated we have to look at it as to what happened at the time clearly there are probably many fraud cases that have been -- that have never been investigated or brought merely because investors have been made whole during the perpetration of the fraud.
issues, crypto complexity. instead they focussed on follow the money, look at the money, it was stolen that's what the case was about as quickly as the jury returned the verdict in this case, that's exactly how the jury perceived it i think the government did a great job trying the case. i think the defense did the best job with what it had, which was little the government gets high marks. >> on that note, jacob, it wasn't as planned, thought through ponzi scheme as with bernie madoff....
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and sentencing day for the man once called the crypto king, sam bankman-fried prosecutor's asking for up to 50 years in present, defense attorneys asking for six any moment now a judge is expected to rule on his sentence and cnn exclusives revealing how much money was paid to drop the sexual assault lawsuit against a powerful leader? peter and the republican party, a settlement. all parties denied ever habit if you work in spaceflight, this is the worst possible thing that can ever happen >> my dad died doing what he loved space shuttle columbia. he final flight from your sunday, april 7 at nine and freeze dryness, breakage, new dove, ten and ones serum hair mask with peptide complex 40 hair bonds at a molecular level full helps reverse ten signs of damage in one minute, keep living real key, preparing >> and with ai, we can look at so much more than sales data see that predictive analytics. >> how long have you been doing this? >> as long as we've been with media, people who know know vdo it's so important to have that good night sleep because of injuries over the years, especially a
and sentencing day for the man once called the crypto king, sam bankman-fried prosecutor's asking for up to 50 years in present, defense attorneys asking for six any moment now a judge is expected to rule on his sentence and cnn exclusives revealing how much money was paid to drop the sexual assault lawsuit against a powerful leader? peter and the republican party, a settlement. all parties denied ever habit if you work in spaceflight, this is the worst possible thing that can ever happen...
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how much time the man once known as the king of crypto could face in prison following his conviction of financial fraud? >> and girl scouts scammed the investigation that caught the attention of the secret service and involves the famous cookies. >> these girl scouts are going to have to become like the lady at the safeway. just this requires a visual just holding up the 20 because now they do. >> you know, venmo card payments. i got mine online. they're going to ruin it for people who have cash. who use cash. me looking for cookies always. >> please don't scam these girls. and good morning on this thursday, march 28th. >> yes, we're going to tell you more about that story. we're going to start with a check of our forecast with drew. yeah. >> good morning. so we had some light rain last 12 hours. that front is now to the south of us that supplied us with that wet weather. you can see that on live doppler seven. behind the front we have some cooler air that has moved in here, an isolated shower along the coast. but for much of the day today, it's just a mix of sun and clouds. live. lo
how much time the man once known as the king of crypto could face in prison following his conviction of financial fraud? >> and girl scouts scammed the investigation that caught the attention of the secret service and involves the famous cookies. >> these girl scouts are going to have to become like the lady at the safeway. just this requires a visual just holding up the 20 because now they do. >> you know, venmo card payments. i got mine online. they're going to ruin it for...
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prosecution closing this chapter, it's a crypto story continuing. lisa: continuing on that, what kind of domino effect could we see in the ruling today? as well as the others wrapped up in the scheme that he had? david: that's a great question. he pled guilty and faces federal prison time. alice mission ski going on trial -- alex mission ski is going on trial in the building behind me. prominent individuals on trial in the coming months. but what does it mean for the broader conversation about regulation and how crypto is regarded? it's fascinating to me that it didn't serve as the catalyst many thought that it would. with sam bankman-fried arrested, some thought it would collapse and it wasn't the case. others thought it would expedite regulation to change regulatory structures in washington. that hasn't happened either. a lot is at play and happening as a result. it's not leading to the changes some thought. jonathan: david, old friend, fantastic to see you back on our screens. providing coverage of this story throughout the day on bloomberg tv an
prosecution closing this chapter, it's a crypto story continuing. lisa: continuing on that, what kind of domino effect could we see in the ruling today? as well as the others wrapped up in the scheme that he had? david: that's a great question. he pled guilty and faces federal prison time. alice mission ski going on trial -- alex mission ski is going on trial in the building behind me. prominent individuals on trial in the coming months. but what does it mean for the broader conversation about...
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how much time the man once known as the king of crypto could face in p
how much time the man once known as the king of crypto could face in p
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. >>> the convicted con man once hailed as the king of crypto will learn his fate today. in november it took the jury three hours to find him guilty of orchestrating the multi-billion dollar fraud scheme that brought down the company's crypto exchange. federal prosecutors are seeking 50 years, while the defense team is asking for six and a half years or less. >>> the waking up to rain and the potential for flooding. let's go to bill karins. >> great to see you, frances. it's pouring in a lot of areas. even thunder and lightning waking people up in the middle of night. we've got rain from north florida all the wray toay to so new england. not going to be a pretty drive on 95 or the mass pike. pick your highway. and we have thunderstorms around wilmington beach. nothing severe, though. the timing of all this mess. here's how it looks at 7:00 a.m. notice d.c., you're fine. you're not going to see a lot of this rain. new york city will get lighter as we go throughout the afternoon. this is 6:00 p.m., boston to hartford to providence, and right along the coastal areas. but i-9
. >>> the convicted con man once hailed as the king of crypto will learn his fate today. in november it took the jury three hours to find him guilty of orchestrating the multi-billion dollar fraud scheme that brought down the company's crypto exchange. federal prosecutors are seeking 50 years, while the defense team is asking for six and a half years or less. >>> the waking up to rain and the potential for flooding. let's go to bill karins. >> great to see you, frances....
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>>> from the king of crypto to convicted con man. sam bankman-fried will finally learn his fate today. sentencing is scheduled for the ftx co-founder whose massive fraud scheme brought turbulence to the crypto market. charlotte, good morning. >> good morning, frances. it was indeed sam bankman-fried, also known as bf is returning to court in manhattan to receive sentencing for what is seen as one of the largest white collar crimes in history. almost five months ago he was found guilty of fraud, money la laundering and conspiracy by a jury. in 2022, roughly $10 billion in deposits from customers went missing. now the collapse of ftx sent ripples through the crypto world, sending bitcoin prices down. and companies going bank run. several executives testified that sbf misprappropriated thos funds. and also generating some false financial statements. they all pleaded guilty, the former executives to similar charges. they are expected to be sentenced in the coming months. sbf is expected to go to prison. the question is for how long. pros
>>> from the king of crypto to convicted con man. sam bankman-fried will finally learn his fate today. sentencing is scheduled for the ftx co-founder whose massive fraud scheme brought turbulence to the crypto market. charlotte, good morning. >> good morning, frances. it was indeed sam bankman-fried, also known as bf is returning to court in manhattan to receive sentencing for what is seen as one of the largest white collar crimes in history. almost five months ago he was found...
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Mar 28, 2024
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what does this mean for the larger crypto sector it means a good thing. we have seen record high prices in last six months that speaks to the grifters wash out. >> thank you great to see you i know you are heading to the court room right now good luck. >> thank you. >>> coming up on "worldwide exchange," as the s&p preparing to wrap the best first quarter in a half a decade, what jim cramer is saying fear of the b pullback is not an option. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] >>> welcome back we are watching shares of amazon this morning the stock coming off a 1% pop p yesterday after announcing it will invest $2.7 billion in anthropic. that startup is a competitor to openai's chatgpt amazon announced an initial
what does this mean for the larger crypto sector it means a good thing. we have seen record high prices in last six months that speaks to the grifters wash out. >> thank you great to see you i know you are heading to the court room right now good luck. >> thank you. >>> coming up on "worldwide exchange," as the s&p preparing to wrap the best first quarter in a half a decade, what jim cramer is saying fear of the b pullback is not an option. british announcer:...
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>>> convicted x crypto king sam benjamin friede is facing decades in prison. his sentencing now just hours away, as the 11th hour gets underway on this wednesday night. >>> good evening once again, i'm stephanie ruhle, we are now 223 days away from the election and we are learning more about the crossover between donald trump's political fundraising and his court cases. according to the new york times, donald trump has spent, are you ready for this number? more than $100 million on legal bills since 2021. that's more than 90 grand a day. tell your kids to be lawyers one day. trump has relied almost completely on donations from people made to fight the result of the 2020 election to pay for it all. the $254 million donation number you see at the top of your screen right now was what trump managed to raise between the day after the election and president biden's inauguration. only a teeny little fraction of that money actually went toward challenging the election results. now, that money is drying up and trump will either have to find another source of cash to s
>>> convicted x crypto king sam benjamin friede is facing decades in prison. his sentencing now just hours away, as the 11th hour gets underway on this wednesday night. >>> good evening once again, i'm stephanie ruhle, we are now 223 days away from the election and we are learning more about the crossover between donald trump's political fundraising and his court cases. according to the new york times, donald trump has spent, are you ready for this number? more than $100...
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>>> plus, crypto at a crossroads a big win for the s.e.c. and its lawsuit against coinbase, we'll break down the impact on bit count, next. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. empower. what's next. >>> welcome back to "fast money. stocks rallying, closing near session highs. the s&p closing at a new record. the dow jumping 477 points and the nasdaq up about half a percent. >>> the disney desantis feud coming to a close. the media giant agreeing to end litigation over its special tourism district in florida, which governor ron desantis moved to revoke last year. and shares of robinhood getting a boost. the brokerage firm unveiling its new credit card that will offer 3% cash back and j&j getting a pop late in the day. a federal judge r
>>> plus, crypto at a crossroads a big win for the s.e.c. and its lawsuit against coinbase, we'll break down the impact on bit count, next. >>> missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions...
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securities and exchange commission scored a major win against the crypto platform. a judge ruled that the sec's claim that coinbase engaged in sales of unregistered securities could be heard by a jury trial. following the ruling, a spokesperson for the sec said it was cheese -- pleased that yet another court has confirmed that while the term, quote, crypto, may be relatively knew, the frameworks that the courts have used for nearly 80 years still applies. the sec first filed the lawsuit in june claiming coinbase was operating as an unregistered broker. coinbase falling about 4% right now. carnival stair shares in the green but off session highs. fest it opened in the red, then popped and now is up barely half a percent here. cruise operator reported a narrower than expected loss in its fiscal first quarter, raised its full-year outlook. carnival said the francis scott key bridge collapse in baltimore would cost the cruise liner $10 million this year. netflix shares falling after wall street firm web bush removes the stock from its best ideas list. analyst alicia ree
securities and exchange commission scored a major win against the crypto platform. a judge ruled that the sec's claim that coinbase engaged in sales of unregistered securities could be heard by a jury trial. following the ruling, a spokesperson for the sec said it was cheese -- pleased that yet another court has confirmed that while the term, quote, crypto, may be relatively knew, the frameworks that the courts have used for nearly 80 years still applies. the sec first filed the lawsuit in june...