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Mar 29, 2024
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so has the market put the ftx fiasco behind it? let's bring in natalie brunell. natalie, thanks so much for being with us today, always good to see you. >> it's great to see you, kelly. thanks so muchful can. kelly: okay. so so right off the bat, i've got to get your reaction to the sbf sentencing. i've heard all sorts of, oh, it was too much, it was too little. what do you think, 25 years? >> look, i'm just glad the whole trial is behind us. i hope ftx customers get as much money back as possible, and honestly, i just hope people learn the very important lesson that bitcoin and crypto are very different, and i can't help but think that if sbf just had laser eyes and focused on bitcoin and avoided all the leverage and counterfeiting money through all coin, then he'd be enjoying a new all-time high instead of looking forward to prison in his 50sful. [laughter] kelly: yeah. he would be enjoying an all-time high, and actually that was one of the reasons why the judge said, yeah, you know, there's harm here. because customers are getting paid back, but they're gettin
so has the market put the ftx fiasco behind it? let's bring in natalie brunell. natalie, thanks so much for being with us today, always good to see you. >> it's great to see you, kelly. thanks so muchful can. kelly: okay. so so right off the bat, i've got to get your reaction to the sbf sentencing. i've heard all sorts of, oh, it was too much, it was too little. what do you think, 25 years? >> look, i'm just glad the whole trial is behind us. i hope ftx customers get as much money...
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next one for you, jonathan, disgraced ftx founder sam bankman-fried got 25 years in prison for his financial fraud. 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
next one for you, jonathan, disgraced ftx founder sam bankman-fried got 25 years in prison for his financial fraud. 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...
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kelly, thank you very much. >>> my next guest created unicoin after the ftx collapse. his name is mo, and he joins me now. great to have you, mo. let's begin begin with unicoin. what is it? >> unicoin is actually an alternative, right, that we actually launched because we believed that the lack of transparency, the anonymity and the decentralization of traditional cryptoor currency was so volatile -- clip the currency was so volatile and is so suspect, you know, and open for all kind of nefarious behavior. so unicoin is asset-backed. it's public reporting, it's compliant k. and so we believe that that is the future of cryptocurrency and, certainly are, sam bankman-fried's case certainly supports that message. ashley: and talking of sbf, what did you make of his sentence? do you think it's fair? >> i do think it's fair, and i think that the department of justice sent the right message and the judge, judge kaplan, did as well in the 252-year sentence and this -- 25-year sentence and this $11.2 billion fine. i think the message loud and clear. they're not going to tolerat
kelly, thank you very much. >>> my next guest created unicoin after the ftx collapse. his name is mo, and he joins me now. great to have you, mo. let's begin begin with unicoin. what is it? >> unicoin is actually an alternative, right, that we actually launched because we believed that the lack of transparency, the anonymity and the decentralization of traditional cryptoor currency was so volatile -- clip the currency was so volatile and is so suspect, you know, and open for all...
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with the famous politicians, famous celebrities, athletes and whatnot, it wasn't that long ago when ftx was advertising on the super bowl , then look what happened. maria: he was one of the leading donors, political donor donors to democratic candidates. maria: he gave away millions of dollars to politicians up and down from the top down in d.c. to advance his own image into advances on power in his own status. i don't feel sorry whatsoever and i'm not to feel the word sad, good riddance he deserves to be in jail and i hope he serves all 25 years. what he did was put his stain on was a very incredibly exciting emerging world and that's a crypto currency market but when you have the face of it being being sam bankman-fried, that tarnishes a lot of good things about the block chain that a been ignored and tarnished by him. the agreed justness in his attitude, i cannot believe it. maria: thomas, your thoughts. >> that's exactly right and we have to remember we may not be in this position that were in and the amount of money $40 million to democrats imagine how many candidates he supported
with the famous politicians, famous celebrities, athletes and whatnot, it wasn't that long ago when ftx was advertising on the super bowl , then look what happened. maria: he was one of the leading donors, political donor donors to democratic candidates. maria: he gave away millions of dollars to politicians up and down from the top down in d.c. to advance his own image into advances on power in his own status. i don't feel sorry whatsoever and i'm not to feel the word sad, good riddance he...
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Mar 28, 2024
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history exchange ftx. kelly o'grady live with this story. you had breaking right right and left, did the judge slam sam bankman-fried has a scam artist obsessed with political power? it looks like he is 100 million and soleimani for political donations. >> the judge was very intense and the political donations, i came up so much. the campaign finance violations, it's not something he was charged with but at the come up as evidence edit early was it focus today in sentencing. u.s. attorney damien williams that underscores that, his deliberate ongoing lies demonstrated brazen disregard for customers expectations and disrespect for the rule of law also that he could secretly use customers money to expand his own power and influence. the judge underscored power and influence, he used it as a reason he didn't believe crypto act, he said it was a lie and a new what he was doing with the customer money. york law, it's all about intent so sam bankman-fried will serve 25 year sentence in a medium security prison that is the recommendation as of now.
history exchange ftx. kelly o'grady live with this story. you had breaking right right and left, did the judge slam sam bankman-fried has a scam artist obsessed with political power? it looks like he is 100 million and soleimani for political donations. >> the judge was very intense and the political donations, i came up so much. the campaign finance violations, it's not something he was charged with but at the come up as evidence edit early was it focus today in sentencing. u.s. attorney...
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Mar 28, 2024
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digital currency e wobbled and hen dove after sam bankman-fried, the ceo of cryptocurrency exchange ftx, was extradited from his luxury perch in the bahamas and hauled back to the u.s. to face charges he stole billions from his customers. today he was sentenced to 25 years in prison for defrauding hundreds of those customers. it all a went down in federal court in lower manhattan. that is exactly where kelly o'grady is standing by live. kelly. >> reporter: i mean, 25 years, i think in this case this is essentially throwing the book at him. the max that they were looking for was 110. the prosecution was looking between 40-50. but the defense was seeking just 5-6 and a half years. so this really does send a message to sam is himself, someone who's just very young at 32, but also the broader crypto community. just a couple of notes on that sentencing, he's recommended to serve it in a medium security prison in san francisco so his family can come visit him. he's also required to pay $11 billion. of course, that is just a mere formality geffen that he's broke. -- given that he's broke. the
digital currency e wobbled and hen dove after sam bankman-fried, the ceo of cryptocurrency exchange ftx, was extradited from his luxury perch in the bahamas and hauled back to the u.s. to face charges he stole billions from his customers. today he was sentenced to 25 years in prison for defrauding hundreds of those customers. it all a went down in federal court in lower manhattan. that is exactly where kelly o'grady is standing by live. kelly. >> reporter: i mean, 25 years, i think in...
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neil: 17 minutes after the hour, sam bankman-fried, the ftx founder responsible for stealing $10 million, has been sentenced to 25 years in prison. i'm told the he could serve 16 to 18 years of that sentence. that is a moving target. i interrupted you rudely. charles: i just think it does a disservice by saying this is good for bitcoin. this has nothing to do with bitcoin. it doesn't help bitcoin. sam bankman-fried wasn't invested in bitcoin. he committed a garden variety fraud called a ponzi scheme where you take money from peter to pay paul so it doesn't add up anymore. that is it. sort of extrapolate, it is mainstreaming, we had larry fink on it, thinking of more etfs. whether people lose confidence in what is essentially a ledger, not anything really backing up used currency which is backed by full faith and credit. it's a pretty despicable fraudster, he got caught. i tend to agree with the counselor. if you tell me he's getting 40 years in jail. i can see why judge kaplan said 40 years in jail, no one is getting crushed here. let's throw him in jail for 25 years but to extrapolate t
neil: 17 minutes after the hour, sam bankman-fried, the ftx founder responsible for stealing $10 million, has been sentenced to 25 years in prison. i'm told the he could serve 16 to 18 years of that sentence. that is a moving target. i interrupted you rudely. charles: i just think it does a disservice by saying this is good for bitcoin. this has nothing to do with bitcoin. it doesn't help bitcoin. sam bankman-fried wasn't invested in bitcoin. he committed a garden variety fraud called a ponzi...
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ashley: you know what's interesting, adam, when this happened, ftx collapse, there were a lot of people that said, you know what, this is -- could be really bad news for crypto, the credibility. that hasn't been the case. >> no, look at bitcoin trading at all time highs but i tell you, it was brutal for so many of us. i lost a lot of money. i was long silicon valley bank shares and silver gate. it was painful. i never thought that the ripple effect of what was happening down there in the bahamas was going to be so extreme, and it was. so a lot of us lost a lot of money on this whole thing. by the way, the fact that he now is going to have to serve 20 years, it doesn't feel good, it doesn't bring back the money i lost myself and that i lost for clients. but it does -- it keeps people honest and that's what's important. ashley: i'm being told, adam, this is the been a correction. it's 25 years so you can add on another 5. let's bring in kelly o'grady outside the courthouse with the very latest. kelly. kelly reporter: that's right, ashley. i can confirm it is 25 years and my producer ran n
ashley: you know what's interesting, adam, when this happened, ftx collapse, there were a lot of people that said, you know what, this is -- could be really bad news for crypto, the credibility. that hasn't been the case. >> no, look at bitcoin trading at all time highs but i tell you, it was brutal for so many of us. i lost a lot of money. i was long silicon valley bank shares and silver gate. it was painful. i never thought that the ripple effect of what was happening down there in the...
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now to this, ftx founder sam bankman-fried's sentencing underway in new york. kelly o'grady outside the courthouse, what's the latest? >> reporter: this sentencing is still ongoing. got kicked off at 9:45 or so, but sam bankman-fried looked very disheveled, t-shirt and pants, every different from the clean-cut short haircut we saw during trial, the bushing made his back that we know so well. judge kaplan is coming down so much harder than i think anyone expected. sam bankman-fried is younger, that comes into play with sentencing of the prosecution is looking 40 to 50 years, the defense is seeking 5 to 6. 5, their argument is there was no harm done to victims as the bankruptcy process expects to return all those customer funds. the judge completely rejected that claim today. he went through point by point, arguing this is about intend and what sam bankman-fried and that the loss figure is $10 billion. he underscored customers will be repaid in value last in november of 2,022, the price of bitcoin is four times what it was when ftx collapse. the judge also confir
now to this, ftx founder sam bankman-fried's sentencing underway in new york. kelly o'grady outside the courthouse, what's the latest? >> reporter: this sentencing is still ongoing. got kicked off at 9:45 or so, but sam bankman-fried looked very disheveled, t-shirt and pants, every different from the clean-cut short haircut we saw during trial, the bushing made his back that we know so well. judge kaplan is coming down so much harder than i think anyone expected. sam bankman-fried is...
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the price of bitcoin is over four times what it was when ftx collapsed. the victims haven't seen the money yet. i read dozens of letters of support highlighting the extreme mental health challenges coming out of this for them. the sentencing hearing kicks off at 9:30 today. we expect to hear from victims and supporters. most folks i'm talking to are expecting 20 years. he's young. there's a possibility for rehabilitation. but this is the first major criminal crypto case. part of the sentencing goal will be to send a message to the rest of the industry. maria: for sure. thank you. kelly o'grady in new york city. mark, what's your take. >> it's good news. it sounds like the victims might be made hole. whole.we don't know yet. a crime's a crime. if you're found gil ticks you've got to do time. five to six years would be a slap in the nice all of these victims. 50 to 60 -- 40 to 50 of may not happen but i think to kelly's point, about 20 probably being the likely outcome, i think that sounds to be kind of right on. maria: the impact, the fraud caused. >> with
the price of bitcoin is over four times what it was when ftx collapsed. the victims haven't seen the money yet. i read dozens of letters of support highlighting the extreme mental health challenges coming out of this for them. the sentencing hearing kicks off at 9:30 today. we expect to hear from victims and supporters. most folks i'm talking to are expecting 20 years. he's young. there's a possibility for rehabilitation. but this is the first major criminal crypto case. part of the sentencing...
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Mar 27, 2024
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sentenced for which is misusing and fraudulent activity with people who trusted sam bankman-fried and ftx with their money. even though the cryptocurrency industry is much small or or than sort of the traditional a banking and financial industry, the there true harm that was caused to investors and people that trusted sam should not be understated. so i think there's a lot of things that judge kaplan will take into consideration.. he's been overseeing the case from the beginning. i think we saw that he's lost a little bit of patience with sam. sam's bail was revoked last august a when it was found that he likely tampered with a witness. and, you know, there's a lot of things he'll have to take into account, sam's age, there's neurodivergent and autism claims. there's a lot that that a will be taken into account. from what i have heard, the general consensus is somewhere between 20-30 years. somewhere pretty much in between the what the two to positive posing counsels are asking for. charles: we know sbf if is from a very well connected political family, their family's involved with, i mea
sentenced for which is misusing and fraudulent activity with people who trusted sam bankman-fried and ftx with their money. even though the cryptocurrency industry is much small or or than sort of the traditional a banking and financial industry, the there true harm that was caused to investors and people that trusted sam should not be understated. so i think there's a lot of things that judge kaplan will take into consideration.. he's been overseeing the case from the beginning. i think we saw...
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Mar 26, 2024
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back down to around that $17-18,000 the prior cycle high, just the ftx, just the ftx scandal saw the price fall below it. it quickly recovered. so this cycle would put us at a triple, if those coincide with what is called the halving event with bitcoin miners. the rewards are cut in half. that in addition to a trillion dollars of new debt every hundred days created by the government. stuart: we shall see. thank, mike. the market is open. fox corporation rang the bell on the nasdaq. we've opened with more than half of the dow stocks, the dow 30, on the upside, and the dow itself is up about 50 points. move on to the s&p 500, also slightly higher, up about a quarter percent, 5230, is the level. and the nasdaq composite also opening higher this morning, a gain of almost .4%, 16,448. better have a look at big peck tech. where are they -- big tech. meta, microsoft, alphabet, amazon on the up upside, but apple is down. just holding on to the 170 level at this moment. truth social has official hi started trading -- officially started trading. i'm looking at a gain of 57%. tell me more, plea
back down to around that $17-18,000 the prior cycle high, just the ftx, just the ftx scandal saw the price fall below it. it quickly recovered. so this cycle would put us at a triple, if those coincide with what is called the halving event with bitcoin miners. the rewards are cut in half. that in addition to a trillion dollars of new debt every hundred days created by the government. stuart: we shall see. thank, mike. the market is open. fox corporation rang the bell on the nasdaq. we've opened...
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Mar 22, 2024
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liquidations going on in the gray scale bitcoin trust because that's where a ton of the assets where ftx, the defunct currency exchange where sam bankman-fried's going to jail for a long time, the recovered funds was parked in that etf, that fund. and as that fund is being liquidated to pay out the victims, it's putting a lot of pressure if on bitcoin. but the flows on a daily basis into the new etfs are outstripping new supply. that's going to comet. we have the halving event which is going to cut the new supply if dramatically coming up in late april. ashley: right. >> so, look, i'm very bullish on this. we have $2 trillion deficits as far as the eye can see. you have the government trying to seize assets can -- ashley: right. >> -- from a former president. what else do you want from it? ashley: exactly. 200,000. mike lee, terrific stuff, sir. thank you so much is. appreciate it. by the way, monday is donald trump's deadline to secure that a $454 million bond many his new york civil fraud trial, so what's the latest on this, lauren? lauren: trump is posting. he claims he has the cash,
liquidations going on in the gray scale bitcoin trust because that's where a ton of the assets where ftx, the defunct currency exchange where sam bankman-fried's going to jail for a long time, the recovered funds was parked in that etf, that fund. and as that fund is being liquidated to pay out the victims, it's putting a lot of pressure if on bitcoin. but the flows on a daily basis into the new etfs are outstripping new supply. that's going to comet. we have the halving event which is going to...