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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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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 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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having us- — back here in the us, in new york, the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, was 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 a couple of things and took into account age, losses involved an impact on the victims and also the message of deterrent 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 who wanted ao—is years and by contrast lawyers for mr bank
having us- — back here in the us, in new york, the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, was 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...
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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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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. hello, 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 b
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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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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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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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-— 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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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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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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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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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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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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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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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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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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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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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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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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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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Mar 28, 2024
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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 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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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 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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Mar 28, 2024
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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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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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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...