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sam bankman-fried, the disgraced founder of the now defunct cryptocurrency exchange ftx, was sentenced to 25 years in prison for fraud and conspiracy. district judge lewis kaplan noted bankman-fried's "apparent lack of any remorse" for defrauding ftx customers out of at least $8 billion. bankman-fried's lawyer said they plan to appeal. a federal judge has tossed elon musk's lawsuit against the watchdog center for countering digital hate, writing in his ruling "this case is about punishing the defendants for their speech." elon musk sued the non-profit after they reported that hate speech, racism, and misinformation soared on the social media platform x, formerly known as twitter, after the billionaire took ownership of the site in 2022. the center for countering digital hate welcomed the lawsuit's dismissal, writing on x -- "we'll continue exposing hate and lies on x, and campaigning for social media bosses like musk to be held accountable." to see our interview about this case with the head of the center for countering digital hate, go to democracynow.org. colombia has expelled its ar
sam bankman-fried, the disgraced founder of the now defunct cryptocurrency exchange ftx, was sentenced to 25 years in prison for fraud and conspiracy. district judge lewis kaplan noted bankman-fried's "apparent lack of any remorse" for defrauding ftx customers out of at least $8 billion. bankman-fried's lawyer said they plan to appeal. a federal judge has tossed elon musk's lawsuit against the watchdog center for countering digital hate, writing in his ruling "this case is about...
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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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. >> you just need ftx! >> reporter: ftx once the go to celebrity endorsed crypto exchange. behind the scenes customers did not know sam bankman-fried was using billions of their money for himself to prop up his struggling hedge fund. at trial prosecutors played this interview with our george stephanopoulos. >> you do know and did know ftx deposits were being funneled to alameda? >> i was vaguely aware that that was how some wires were being sent in the first place. >> george: didn't that set off alarm bell in your head? >> there are a lot of people who are involved in that process. 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. >> reporter: customers lost everything. one victim telling the judge the money which i wanted to spend on a family home taken away, as well as my children's education. in addition to the 25 years in prison, bankman-fried was ordered to forefit $11 billion to compensate victims. one of the stiffest white collar sentences handed down in years and reflected
. >> you just need ftx! >> reporter: ftx once the go to celebrity endorsed crypto exchange. behind the scenes customers did not know sam bankman-fried was using billions of their money for himself to prop up his struggling hedge fund. at trial prosecutors played this interview with our george stephanopoulos. >> you do know and did know ftx deposits were being funneled to alameda? >> i was vaguely aware that that was how some wires were being sent in the first place....
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prosecutors accused the co-founder of ftx of defrauding investors and customers of more than $11 billion, before the crypto exchange collapsed. >> he will still, for the majority of his life, or for the remainder of his life, be working to pay back or to pay this essentially, this fine, which severely limits his ability to do bad in the future, as was one of the judge's big concern. >> the judge strongly admonished bankman-fried, but the sentence was less than a quarter of the maximum for his convictions. the 25 year sentence could be reduced with good behavior when dealing with a quarter century at great taxpayer expense. >> it gets in the way of what people should be most concerned about victims. he should be working and paying that money back. >> bankman-fried's parents attended the sentencing, both taught at stanford. his mother asked the judge for leniency. bankman-fried could be sent to a minimum security prison here in california. >> our time now. 736. the biggest crane on the eastern seaboard just arrived by barge in baltimore to help remove the wreckage from that deadly bridge c
prosecutors accused the co-founder of ftx of defrauding investors and customers of more than $11 billion, before the crypto exchange collapsed. >> he will still, for the majority of his life, or for the remainder of his life, be working to pay back or to pay this essentially, this fine, which severely limits his ability to do bad in the future, as was one of the judge's big concern. >> the judge strongly admonished bankman-fried, but the sentence was less than a quarter of the...
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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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just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to only do good. but the judge wasn't having any of it during sentencing, saying, quote, he knew it was wrong. he knew it was criminal. bankman-fried's parents issued a short statement following that decision, saying, we are heartbroken and will continue to fight for our son, even if victims in this case get their money back. many who invested in cryptocurrencies at the time of ftx's collapse have lost out on a considerable amount of income, experts say many of those currencies would be worth much more today. bitcoin's value, for example, has increased more than 300% since late 2022. back to you at the
just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to only...
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just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison. experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to only do good, but the judge wasn't having any of it. during sentencing, saying, quote, he knew it was wrong. he knew it was criminal. bankman-fried's parents issued a short statement following that decision, saying, we are heartbroken and will continue to fight for our son even if victims in this case get their money back. many who invested in cryptocurrencies at the time of ftx collapse have lost out on a considerable amount of income, experts say. many of those currencies would be worth much more today. bitcoin's value, for example, has increased more than 300% since late 2022. kumasi thank you. >
just two years ago, the ftx founder mingled with the rich and powerful after becoming a billionaire at age 30. now he'll be spending 25 years in federal prison. experts believe that sentence could be cut in half with good behavior. and by completing prison rehab programs, bankman-fried's parents, who are law professors at stanford, sent the judge a letter prior to sentencing, according to our media partners at the mercury news, his parents described him as smart, empathetic and motivated to...
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i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. he's still waiting to get that money back. >> i think it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> and our thanks to kate for that report. >>> still to come, beyonce does dolly, and a brand-new take on a country music staple. right after this. sic staple. right after this. try the swiffer powermop. ♪♪ an all-in-one cleaning tool that gives you a mop and bucket clean in half the time ♪♪ our cleaning pad has hundreds of scrubbing strips that absorb and lock dirt away, ♪♪ and it has a 360-degree swivel head that goes places a regular mop just can't. so, you can clean your home, faster than ever. ♪♪ don't mop harder, mop smarter, with the swiffer powermop. can an oven roasted turkey breast don't mop harder, pack so much succulent flavor, that the mere glimpse of it induces turkey sandwich daydreams? if it's hillshire farm, oh, hill yeah.™ it ain't my dad's razor, dad. ay watch it! it's from gillette
i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. he's still waiting to get that money back. >> i think it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> and our thanks to kate for that report. >>> still to come, beyonce does dolly, and a brand-new take on a country music staple. right after this. sic staple. right after this. try the swiffer powermop. ♪♪ an...
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just two years ago, ftx founder sam bankman-fried mingled with the rich and powerful. 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 calc
just two years ago, ftx founder sam bankman-fried mingled with the rich and powerful. 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...
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was convicted in november for stealing more than $8 billion of customers of his now-bankrupt company ftx. his lawyers plan to appeal. >>> kia is recalling more than 400,000 tellurides because of a roll away risk while in park. the recall covers all vehicles made between 2020 and 2023 and some 2024 models, too. kia says until owners can bring in their vehicles to get the free software fix, they should use the manual parking brake instead. >>> and kfc is getting saucy. the company is adding saucy nuggets to its menu starting monday. there are five flavors to choosing from, honey sriracha, korean barbecue, wticky chicky sweet and sour, nashville hot, and georgia gold. >>> that's your cbs "money watch" report. i'm carissa lawson, cbs news, new york. >>> up next, we've got your new beyonce country music. we'll hear her versions of dolly parton's "jolene." beyonce country music. we'll hear her versions of dolly parton's "jolene." (bridget) with thyroid eye disease i hid from the camera. and i wanted to hide from the world. for years, i thought my t.e.d. was beyond help... but then i asked my d
was convicted in november for stealing more than $8 billion of customers of his now-bankrupt company ftx. his lawyers plan to appeal. >>> kia is recalling more than 400,000 tellurides because of a roll away risk while in park. the recall covers all vehicles made between 2020 and 2023 and some 2024 models, too. kia says until owners can bring in their vehicles to get the free software fix, they should use the manual parking brake instead. >>> and kfc is getting saucy. the...
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how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>>
how long sam bankman-fried will spend behind bars for his role in defrauding ftx investors. >>>
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sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> how much? >> $2 million. so -- and that was for a family home and for my children's education, and that's overnight. >> reporter: bankman-fried was once hailed as the future of finance with an estimated net worth of $26 billion. and enlisting celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: -- and basketball star steph curry -- >> 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 hardwired 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 doesn't feel risk. >> reporter: now, there is no parole for federal crimes, but good behavior can reduce time served. bankman-fried's lawyers will appeal this sentence,
sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> how much? >> $2 million. so -- and that was for a family home and for my children's education, and that's overnight. >> reporter: bankman-fried was once hailed as the future of finance with an estimated net worth of $26 billion. and enlisting celebrities including quarterback tom brady -- >> i'm getting into crypto. >> reporter: -- and basketball star steph curry --...
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bankman-fried express nothing remorse after being sentenced to 25 years in prison after defrauding ftx investors. the former crypto ceo must pay $11 billion for his role in the collapse of the digital trading platform. the judge labeling him as a power obsessed scammer. meanwhile, ftx is reportedly planning to sell bankman-fried's bahamas real estate holdings worth estimated $22 million a texas attorney general ken paxton now opening an investigation into one of boeing's parts suppliers after a series of mishaps on recent flights, including mid-air blow out on an alaska airlines flight. spirit arrow system produces the fuselages for boeing 737 jets and packsston saying, quote: the potential risks associated with certain airplane models are deeply concerning and potentially life-threatening to texans. i would hold any company responsible if they fail to maintain the standards required by the law. the average full-time working american can't afford to buy a basic home. that's according to new data from the real estate company redfin. first time buyers must now earn at least $76,000 a yea
bankman-fried express nothing remorse after being sentenced to 25 years in prison after defrauding ftx investors. the former crypto ceo must pay $11 billion for his role in the collapse of the digital trading platform. the judge labeling him as a power obsessed scammer. meanwhile, ftx is reportedly planning to sell bankman-fried's bahamas real estate holdings worth estimated $22 million a texas attorney general ken paxton now opening an investigation into one of boeing's parts suppliers after a...
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it's far. ♪♪ >> like i was saying, it's ftx. it's a safe and easy way to get into crypto. >> ah, i don't think so. i'm never wrong about this stuff, never. >> it turns out larry david may have been onto something. that was the now infamous ftx commercial which aired during the 2022 super bowl. the cryptocurrency exchange collapsed spectacularly months later and its founder was eventually convicted of stealing billions of dollars from customers. yesterday he was sentenced to 25 years in prison. that sentence was shorter than the 40 or 50 years than federal prosecutors sought. he was ordered to forfeit about $11 billion in assets. bankman-fried apologized to the court, saying his decisions haunt him every day. john, it's quite a turn of events for a guy who was on top of the world financially just a few short years ago. >> yeah. a truly stunning and swift fall from grace. let's bring in christine romans and state attorney for palm beach county dave aronberg. just a remarkable fall in just a few short years. ftx with a high-profile
it's far. ♪♪ >> like i was saying, it's ftx. it's a safe and easy way to get into crypto. >> ah, i don't think so. i'm never wrong about this stuff, never. >> it turns out larry david may have been onto something. that was the now infamous ftx commercial which aired during the 2022 super bowl. the cryptocurrency exchange collapsed spectacularly months later and its founder was eventually convicted of stealing billions of dollars from customers. yesterday he was sentenced...
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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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i was the ceo of ftx." he said, "i was responsible." the judge admonishing bankman-fried, saying, "there is a risk that this man will be in position to do something very bad in the future." and adding, in his 30 years, he's never seen a performance like bankman-fried's trial testimony, saying, "when he wasn't outright lying, he was evasive." >> how you feeling today? >> no comment. >> reporter: bankman-fried's parents solemn outside the courthouse, saying in a statement they "are heartbroken and will continue to fight for our son." bankman-fried's lawyers say they plan to appeal. >> it was really, really difficult. i mean, i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded. today, he says he's still waiting to get that money back. >> i think that it goes some way, some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> kate, when ftx collapsed, there were real questions about crypto's future. how is it faring now? >> reporter: at the time, lester, sam bankman-fried'
i was the ceo of ftx." he said, "i was responsible." the judge admonishing bankman-fried, saying, "there is a risk that this man will be in position to do something very bad in the future." and adding, in his 30 years, he's never seen a performance like bankman-fried's trial testimony, saying, "when he wasn't outright lying, he was evasive." >> how you feeling today? >> no comment. >> reporter: bankman-fried's parents solemn outside the...
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. >>> plus, ftx founder sam bankman fried will spend the next two decades behind bars. we'll talk about what his sentencing could mean for the future of the crypto industry. we'll be back with business news next. industry. we'll be back with business news next [coughing] copd hasn't been pretty. it's tough to breathe and tough to keep wondering if this is as good as it gets. but trelegy has shown me that there's still beauty and breath to be had. because with three medicines in one inhaler, trelegy keeps my airways open and prevents future flare-ups. and with one dose a day, trelegy improves lung function so i can breathe more freely all day and night. trelegy won't replace a rescue inhaler for sudden breathing problems. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. ♪ what a wonderful
. >>> plus, ftx founder sam bankman fried will spend the next two decades behind bars. we'll talk about what his sentencing could mean for the future of the crypto industry. we'll be back with business news next. industry. we'll be back with business news next [coughing] copd hasn't been pretty. it's tough to breathe and tough to keep wondering if this is as good as it gets. but trelegy has shown me that there's still beauty and breath to be had. because with three medicines in one...
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sam bankman-fried stole more than 8 billion from investors and customers of ftx and lenders to its sister hedge fund alameda research the judge agreed. he said that bankman-fried has shown no remorse and he said that his nature is one of risk-taking and that he weighed getting caught versus getting away with it. the judge saying at one point, there is a risk that this man will be in a position to do something very bad in the future. and it's not a trivial risks and that is why the judge said he was sentencing the 32 to a 25-year prison sentence to disable him from committing further crimes. that means when the sentence is up, bankman-fried will be 57 years old. his parents issuing a statement after court, which they did attend today saying, we are heartbroken. his lawyer says that they will appeal we'll see what happens. kara scannell reporting. thank you very much into our viewers. thanks very much for watching. i'm wolf blitzer in the situation room. the news continues on cnn, >> right now. >> tonight on 360 breaking news, the first video investigative teams on the container ship, dali
sam bankman-fried stole more than 8 billion from investors and customers of ftx and lenders to its sister hedge fund alameda research the judge agreed. he said that bankman-fried has shown no remorse and he said that his nature is one of risk-taking and that he weighed getting caught versus getting away with it. the judge saying at one point, there is a risk that this man will be in a position to do something very bad in the future. and it's not a trivial risks and that is why the judge said he...
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25 years behind bars, will take a closer look at what plato at the sentencing hearing for the former ftx ceo. that's did you know there's no t in skechers? >> when he told the ball rolling is always been scheduled t and these get to slip is ten, these sketches slip in >> i don't think they have a clue. >> that's crazy. >> well, not everyone knows coventry has helped thousands of people sell their policies for cash, even turn policies. >> i can't believe they're just sitting up there sitting on all this cash. >> if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry, even a term policy for cash or a combination of cash and coverage with no future premiums. >> so i want you to tell them but they're sitting on a goldmine you're sitting on a goal. >> that >> i don't hear anything anymore find out if you're sitting on a goldmine called coventry to read today, de hundred 39 to 7,600 or visit coventry direct.com what is circle. surplus the fuel you need to take flight circle is the energy that gets you to the next level circled is which hoped for, rig
25 years behind bars, will take a closer look at what plato at the sentencing hearing for the former ftx ceo. that's did you know there's no t in skechers? >> when he told the ball rolling is always been scheduled t and these get to slip is ten, these sketches slip in >> i don't think they have a clue. >> that's crazy. >> well, not everyone knows coventry has helped thousands of people sell their policies for cash, even turn policies. >> i can't believe they're...
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i was the ceo of ftx, he said, i was responsible. the judge said there is a risk that this man will be in position to do something very bad in the future. and adding in his 30 years he has never seen a performance like bankman fried's trial testimony saying when he was not lying he was evasive. his parents solemn saying they are heartbroken and will continue to fight for their son. lawyers will appeal. >> i couldn't eat sleep. >> reporter: he lost $2 million when ftx imploded and he is waiting to get the money back. >> i don't think it fully reflects the financial and emotional toll on customers. >>> all right, former u.s. attorney joyce vance is back with us, prosecutors were looking of a sentence to 40 to 50 years. what do you make of the judge's decision here? >> reporter: the judge sentences to 25 years. which is a very solid sentence. in a white collar case. the sentencing guidelines here are typically driven by the dollar amount of the fraud. that combined with the fact one of the charges was money laundering is what permitted
i was the ceo of ftx, he said, i was responsible. the judge said there is a risk that this man will be in position to do something very bad in the future. and adding in his 30 years he has never seen a performance like bankman fried's trial testimony saying when he was not lying he was evasive. his parents solemn saying they are heartbroken and will continue to fight for their son. lawyers will appeal. >> i couldn't eat sleep. >> reporter: he lost $2 million when ftx imploded and he...
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Mar 29, 2024
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>> prosecutors say he stole nearly $10 billion from customers of the ftx crypto exchange. it is described as one of the largest financial frauds in us history. >> as ktvu la monica peters reports. now the prison sentence sends a message to other white collar criminals. >> this shows that several regulators are very serious about providing a good and well-established and well secured trading environment to crypto. okay, guys. >> 32 year old sam bankman-fried was sentenced to 25 years behind bars thursday after defrauding crypto investors and customers of over $11 billion. bankman-fried has also been ordered to repay his victims doctor julian vogel is an assistant professor of finance at san jose state university. >> whenever he gets out of prison, he will still, for the majority of his life or for the remainder of his life, be working to pay back or to pay this essentially this fine, which severely limits his ability to do bad in the future, as was one of the judge's big concern. federal prosecutors had asked for a 40 to 50 year sentence for white collar crime. >> prison co
>> prosecutors say he stole nearly $10 billion from customers of the ftx crypto exchange. it is described as one of the largest financial frauds in us history. >> as ktvu la monica peters reports. now the prison sentence sends a message to other white collar criminals. >> this shows that several regulators are very serious about providing a good and well-established and well secured trading environment to crypto. okay, guys. >> 32 year old sam bankman-fried was sentenced...
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Mar 29, 2024
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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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i was the ceo of ftx, he said, i was responsible. the judge admonished bankman- fried saying there is a risk this man will be in a position to do something very bad in the future and adding in his 30 years, he has never seen a performance like bankman- fried's trial testimony, saying when he was not out right line, he was evasive. bankman-fried's parents, solemn outside the courthouse, saying in a statement they are heartbroken and will continue to fight for their sons. bankman-fried's lawyers say they plan to appeal. >> i think it goes some way some closure but i don't think it fully reflects the financial or emotional toll on customers. >> joyce is back with us. prosecutors were looking for a sentence of 40 to 50 years. what you make of the judges decision here? >> the judge sentenced to 25 years, which is a very solid sentence. here guidelines are driven by the dollar amount of the fraud. that combined with the fact that one of the charges was money laundering is what permitted the judge to consider imposing a sentence like this a
i was the ceo of ftx, he said, i was responsible. the judge admonished bankman- fried saying there is a risk this man will be in a position to do something very bad in the future and adding in his 30 years, he has never seen a performance like bankman- fried's trial testimony, saying when he was not out right line, he was evasive. bankman-fried's parents, solemn outside the courthouse, saying in a statement they are heartbroken and will continue to fight for their sons. bankman-fried's lawyers...
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crypto king sentenced to 25 years in prison after being found guilty for his role in the collapse of ftx after the -- his rambling attempt at an apology today in court, a judge ripped the fallen mogul as a remorseless scammer obsessed with power, saying he knew it was criminal, he regrets that he made a very bad bet about the likelihood of being caught. the biden administration says it stopping the release of a title ix rule allowed... until after the election. source telling the washington post the white house is holding up because it seems to be too much of a hot topic. former president trump has vowed to ban athletes who identify as transgender from competing outside of their biological sex. >>> small businesses in california are facing twin threats of crime and the state government that is consistently making it harder for them to stay in business. let's bring in a restaurant owner... along with the owner of no hope of printing and graphics. a 30-year-old business destroyed by crime and a swat raid. it is carlos pain you, thank you for coming on, we appreciate it. we have two thanks
crypto king sentenced to 25 years in prison after being found guilty for his role in the collapse of ftx after the -- his rambling attempt at an apology today in court, a judge ripped the fallen mogul as a remorseless scammer obsessed with power, saying he knew it was criminal, he regrets that he made a very bad bet about the likelihood of being caught. the biden administration says it stopping the release of a title ix rule allowed... until after the election. source telling the washington...
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earlier today former ftx ceo sam bateman freed was sentenced to 25 years in prison, really, which means he will finally get his wish of being publicly traded. let's do a monologue, are we coming apart at the seams because of democrat regimes when important stuff gets neglected it falls apart as expected escaping the failed city of baltimore got a bit harder this week after a freighter prout -- ploughed into the francis scott key bridge and as far as metaphors go that's more on the nose than the hunter biden powder snobs we are piecing together what happened but already activists sprung into action a writer at one website says once it is rebuilt the bridge should be renamed after a prominent african-american instead of the white guy who wrote the star-spangled banner but once owned slaves they could replace it with p. diddy he also wrote songs and also owned slaves. so with president biden pledging taxpayer money to rebuild it everyone will be on the hook for the privilege of erasing francis scott key and with that kind of focus on useless virtue signalling it's no surprise that things a
earlier today former ftx ceo sam bateman freed was sentenced to 25 years in prison, really, which means he will finally get his wish of being publicly traded. let's do a monologue, are we coming apart at the seams because of democrat regimes when important stuff gets neglected it falls apart as expected escaping the failed city of baltimore got a bit harder this week after a freighter prout -- ploughed into the francis scott key bridge and as far as metaphors go that's more on the nose than the...
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how did ftx come crumbling down? >> sure, um, so just 18 months ago, sam blankman freed was a -- sam bankman-fried was a huge starn the business world. he ran a cryptocurrency exchange ftx, which was basically a platform where you could take your dollars and spend them to buy bitcoin or ether other cryptocurrencies and you can also store your crypto on the platform. so it kind of operated as a bank as well. 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
how did ftx come crumbling down? >> sure, um, so just 18 months ago, sam blankman freed was a -- sam bankman-fried was a huge starn the business world. he ran a cryptocurrency exchange ftx, which was basically a platform where you could take your dollars and spend them to buy bitcoin or ether other cryptocurrencies and you can also store your crypto on the platform. so it kind of operated as a bank as well. and it became really popular as the crypto industry grew and grew. and then in...
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. >> 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 taken, like, a lot more responsibility for understanding what the details were of what was going on there. >> reporter: in court today, one victim told the judge he lost "money i wanted to spend on a family home." the judge saying he received more than 200 letters. a man with two young children writing he
. >> 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? >>...
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. >>> sentencing day for convicted ftx founder sam bankman-fried. he will spend 25 years in prison for the fraud that brought down his cryptocurrency exchange. his parents, both longtime stanford law professors, were at this courthouse for sentencing. the jury found sam bankman- fried guilty on several counts and prosecutors say he robbed customers of his much is $8 million to make risky bets. he previously signaled he plans to appeal the conviction but did apologize in court today, saying he made selfish decisions that haunt him every day. no word yet on where he will serve his sentence. >>> a lot of questions tonight about why that cargo ship lost power and hit baltimore's cambridge, and while investigators are looking for answers, transportation leaders are looking to get cargo moving out in a not -- the part of -- port of baltimore. more on the economic impact of this horrible tragedy. >> reporter: the impact that struck the heart of baltimore. now rippling across the country as americans grieve the six lives lost. >> to all the families, we are
. >>> sentencing day for convicted ftx founder sam bankman-fried. he will spend 25 years in prison for the fraud that brought down his cryptocurrency exchange. his parents, both longtime stanford law professors, were at this courthouse for sentencing. the jury found sam bankman- fried guilty on several counts and prosecutors say he robbed customers of his much is $8 million to make risky bets. he previously signaled he plans to appeal the conviction but did apologize in court today,...
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customers of ftx and lenders to its sister hedge fund alameda research the judge agreed. he said that bankman-fried has shown no remorse and he said that his nature is one of risk-taking and that he weighed getting caught versus getting away with it. the judge saying at one point, there is a risk that this man will be in a position to do something very bad in the future. and it's not a trivial risk and that is why the judge said he would the sentencing the 32 to a 25-year prison sentence to disable him from committing further crimes. that means when the sentence is up bankman-fried will be 57 years old, his parents issuing a statement after court, which they did attend today, saying, we are heartbroken. his lawyer says that they will appeal we'll see what happens. curious reporting. thank you very much into our viewers. thanks very much for watching. i'm wolf blitzer in the situation room. the news continues on cnn. >> right now. >> fron next, breaking news, new video, just into outfront from onboard the massive cargo ship that crashed into the francis scott key bridge. a
customers of ftx and lenders to its sister hedge fund alameda research the judge agreed. he said that bankman-fried has shown no remorse and he said that his nature is one of risk-taking and that he weighed getting caught versus getting away with it. the judge saying at one point, there is a risk that this man will be in a position to do something very bad in the future. and it's not a trivial risk and that is why the judge said he would the sentencing the 32 to a 25-year prison sentence to...
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. >>> ftx founder sam freed sentenced to 25 years in jail. the judge saying he didn't hear a word of remorse for the crimes. aaron katersky outside the courthouse. >>> tracking storms on both coasts tonight. heavy rain and flood washes from north carolina to maine. back-to-back systems taking aim at the west. heavy rain and snow from california to colorado. rob marciano timing it out. >>> chilling new details about the horrific stabbing rampage across multiple locations in rockford, illinois. four people killed including a 15-year-old girl. her mother says she died protecting her sister and a friend. alex perez with new reporting. >>> the race for the white house tonight. president biden joined by former presidents obama and clinton for a show of force against donald trump and a record-breaking $25 million fund-raiser at new york's radio city music hall. at the same time, trump attending a wake for a fallen nypd officer, less than three weeks before the start of his criminal trial in manhattan. mary bruce here in new york. >>> newly released
. >>> ftx founder sam freed sentenced to 25 years in jail. the judge saying he didn't hear a word of remorse for the crimes. aaron katersky outside the courthouse. >>> tracking storms on both coasts tonight. heavy rain and flood washes from north carolina to maine. back-to-back systems taking aim at the west. heavy rain and snow from california to colorado. rob marciano timing it out. >>> chilling new details about the horrific stabbing rampage across multiple...
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sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> reporter: how much? >> $2 million. so -- and that was for a family home and for my children's education, and that overnight. >> reporter: beckman freed was% once hailed as the future of finance, with an estimated net . 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 mediu
sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> reporter: how much? >> $2 million. so -- and that was for a family home and for my children's education, and that overnight. >> reporter: beckman freed was% once hailed as the future of finance, with an estimated net . and enlisting celebrities, including quarterback tom brady peer to begun getting into crypto. >> reporter: basketball steph curry. speak are not expert and i...
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at the sentencing hearing for the former ftx ceo. that's has my favorite part great. >> i started using schwab investing themes. so now i can easily invest in trends like wearable tech trends >> all that raves. sounds exhausting no schwab's technology does the work. so if i spot an opportunity and robotics or pets, i can buy those stocks and a few clicks can't be that easy. >> as with schwab >> schwab investing themes, 40 customizable themes up to 25 stocks in just a few clicks, >> can the riva support your brain health? >> very janet, hey, eddie, now appraiser, franck, franck, bread. >> how are you? >> fred, fuel up to seven brain health indicators, including your memory, joined the neretva brain health challenge. >> when barbara switch to turbotax, i wrote for generations of family tradition. >> i want to make perfume >> so i meet barbecue psyche counts by guaranteeing her maximum refund intuit turbotax >> that's how you may like it never even happened happens serve pro times may change, but some things remain timely for you. how m
at the sentencing hearing for the former ftx ceo. that's has my favorite part great. >> i started using schwab investing themes. so now i can easily invest in trends like wearable tech trends >> all that raves. sounds exhausting no schwab's technology does the work. so if i spot an opportunity and robotics or pets, i can buy those stocks and a few clicks can't be that easy. >> as with schwab >> schwab investing themes, 40 customizable themes up to 25 stocks in just a few...
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disgraced ftx founder sam bankman-fried has been sentenced to 25 years in prison. the 32-year-old was convicted in november of fraud and conspiracy related to his digital currency exchange platform. prosecutors argued bankman-fried misappropriated funds to gain influence in the industry, costing his customers more than $10 billion. customers still trying to get that money back. bankman-fried delivered a statement today saying he was sorry. illinois crime policies are facing fierce criticism tonight after a tragic incident left an 11-year-old boy dead. police say that boy was protecting his pregnant mother from a suspect who had been released on parole the day before. an illinois parole official has sense resigned for recommending that man's release. correspondent alexis mcadams in is commission tonight. >> jayden perkins' smile could light up the room. the 11-year-old chicago boy was a talented dancer and singer who recently celebrated a scholarship to a local dance school. >> oh my god, seriously? i always wanted to go here. >> jayden was killed earlier this month
disgraced ftx founder sam bankman-fried has been sentenced to 25 years in prison. the 32-year-old was convicted in november of fraud and conspiracy related to his digital currency exchange platform. prosecutors argued bankman-fried misappropriated funds to gain influence in the industry, costing his customers more than $10 billion. customers still trying to get that money back. bankman-fried delivered a statement today saying he was sorry. illinois crime policies are facing fierce criticism...
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Mar 28, 2024
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. >> the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when his exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by miss appropriating the money to cover his own expenses, which include purchasing luxury properties in the caribbean. so divers are trying now to recover the remains of the 4 construction workers after a bridge collapsed in baltimore. so far 2 victims have been recovered from the river. the men were repairing potholes on the francis scott key bridge early tuesday morning when it collapsed, a container ship lost power and crashed into a column holding the bridge. it's still not clear why it lost power. the national transportation safety board says the ship was carrying 56 containers of hazardous materials. >> some of the hazmat containers were breached. we have seen a sheer are seen sorry sheen on waterway, the federal state and local authorities are aware of that and they be i
. >> the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when his exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by miss appropriating the money to cover his own expenses, which include purchasing luxury properties in the caribbean. so divers are trying now to recover the remains of the 4 construction workers after...
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the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when the exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by ms appropriating the money to cover his expenses, which included purchasing luxury properties in the caribbean. the judge did say he would advise the federal bureau of prisons to sent him to a medium security prison or last near the san francisco bay area. because he's unlikely to be a physical threat to other inmates or prison staff and his autism and social awkwardness would make him vulnerable to other inmates in a high security location. we're taking a look outside. nice wide look here at san francisco right now, enjoying some sun today. a little rain yesterday break today. morris coming tomorrow. coast letting us know what's happened. i think you just said the weather. do you need me? >> we actually do still have some showers out there right now. but yes, more will be ex
the palo alto native was a titan in the crypto industry as the ceo of ftx. but customers lost billions when the exchange collapsed last november. bankman-fried was convicted of fraud, conspiracy and money laundering. prosecutors say that he cost investors more than 10 billion dollars by ms appropriating the money to cover his expenses, which included purchasing luxury properties in the caribbean. the judge did say he would advise the federal bureau of prisons to sent him to a medium security...
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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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the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all those involved saying his decisions, quote, haunt him every day. let's bring in cnn's kara scannell and sara fischer as well. so, so kara, a very basic question here. will spf, victims get any or close to all of their money back? >> it looks. like they will get some of their money back. the question will be, is it 100 cents on the dollar, which is what bankman-fried was arguing to the judge in that people will be taking care of who should get a lenient sentence. prosecutors say, not so fast that there is, there is recovery. there was this big bankruptcy proce
the ftx bankruptcy in 2022 had a ripple effect on the market. several other cryptocurrency companies quickly went belly up as a result, his lawyer painted him as a misunderstood, awkward, math nerd who loves video games, animals, and vegans but the judge saw very differently saying bankman-fried was politically motivated and there is a risk he would be in a position to do something very bad. again in the future before the judge delivered the senate's bankman-fried apologized in court to all...
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what's going on with ftx now? >> not i don't that ftx exists. they've recovered money. the folks employed there are flow longer involved with the company. 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, phi
what's going on with ftx now? >> not i don't that ftx exists. they've recovered money. the folks employed there are flow longer involved with the company. 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...
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just how much cash they're planning to bring in >> plus ftx founder sam bankman-fried has learned his fate after defrauding investors out of billions how long hill spin behind bars for carrying out one of the largest white-collar crimes in history >> check. >> we hear nothing. >> a space shuttle accidents, usually not one thing. it's a series of events is that part of the wing coming apart >> space shuttle columbia. he final flight or mere sunday, april 7 at nine on cnn, see idp disrupts. >> the idp derails. >> let's be honest sucks but living to see idp doesn't have to. >> when you sign up at shining through cid p.com, you'll find inspiration and real patient stories helpful tips, reliable information, and more >> cid p can be tough. >> but finding hope just got a little easier >> sign up is shining through cip.com it'd be heard, be hopeful bu the de, >> you, get your clear choice dental implants makes every day let's dig in day a chow down day >> a tick, a big bite. day >> a perfectly delicious de love >> my new teeth de because you're clear choice day is the day everything is back
just how much cash they're planning to bring in >> plus ftx founder sam bankman-fried has learned his fate after defrauding investors out of billions how long hill spin behind bars for carrying out one of the largest white-collar crimes in history >> check. >> we hear nothing. >> a space shuttle accidents, usually not one thing. it's a series of events is that part of the wing coming apart >> space shuttle columbia. he final flight or mere sunday, april 7 at nine...
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>> it doesn't seem like he's got the money personally, but the attorneys who are in charge of ftx now who are running the bankruptcy, they've come out and said we've been scouring the world for assets. we found a lot of them. we think we will be able to repay the customers. a lot of that is actually because crypto has been booming lately, and sam's assets included a lot of like random coins that he wasn't able to sell when customers wanted their money back. the bankruptcy estate held onto those and has gained billions of dollars on its crypto holdings, but the judge addressed that in court today, and he said, listen, to put it colloquially, it's as if you went in and robbed a bank, you took the money to a casino in las vegas, you gambled with it, you won. i don't care, you still robbed the bank. >> that's an interesting analogy. 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
>> it doesn't seem like he's got the money personally, but the attorneys who are in charge of ftx now who are running the bankruptcy, they've come out and said we've been scouring the world for assets. we found a lot of them. we think we will be able to repay the customers. a lot of that is actually because crypto has been booming lately, and sam's assets included a lot of like random coins that he wasn't able to sell when customers wanted their money back. the bankruptcy estate held onto...
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Mar 28, 2024
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. >>> bay area native sam bankman-fried guilty of fraud and conspiracy after the collapse of ftx. coming up , the sentence just handed out. >>> her mother died from a botched surgery but california law severely limited amateur family could get from a medical malpractic here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it blocks cooi and creepy ads that follow youa from google and other companie. and there's no catch. it's fre. we make money from ads, but they don't follow you aroud join the millions of people taking back their privacy by downloading duckduckgo on all your devices today. >>> this just in. a federal judge has sentenced sam bankman-fried to 25 years in prison for his role in the collapse of a digital currency exchange , ftx. the 32-year-old was convicted of fraud and conspiracy last november. for siphoning off people's deposits. is spending included purchases of luxury properties, flights on private jets and lar
. >>> bay area native sam bankman-fried guilty of fraud and conspiracy after the collapse of ftx. coming up , the sentence just handed out. >>> her mother died from a botched surgery but california law severely limited amateur family could get from a medical malpractic here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n engine like google, but it's pi and doesn't spy on your searchs and duckduckgo lets you browse like chrome, but it...
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Mar 28, 2024
03/24
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. >>> ftx founder sam bankman-fried has been sentenced to 25 years in prison. he was found guilty in november of orchestrating the multibillion dollar fraud that prompted the collapse of the ftx cryptocurrency exchange. he illegally used the money to cover his lavish lifestyle, including buying luxury property in the caribbean and flying on private jets. >>> power players, presidents obama and clinton answering the call from the current commander in chief. the fund-raising event to back joe biden for the re-election. that's next when "andrea mitchell reports" is back in 60 seconds. stay with us. you are watching msnbc. s fast and lasts a full 24 hours so dave can be the... deliverer of dance. ok, dave! let's be more than our allergies. zeize the day with zyrtec. it's hard to explain what this feels like. ♪♪ moving piles of earth. towing up to 4,000 lbs. cutting millions of blades of grass. nothing compares to experiencing it for yourself. you just have to get in the seat. hi, i'm katie. i live in flagstaff, arizona. i'm an older student. i'm getting my doct
. >>> ftx founder sam bankman-fried has been sentenced to 25 years in prison. he was found guilty in november of orchestrating the multibillion dollar fraud that prompted the collapse of the ftx cryptocurrency exchange. he illegally used the money to cover his lavish lifestyle, including buying luxury property in the caribbean and flying on private jets. >>> power players, presidents obama and clinton answering the call from the current commander in chief. the fund-raising...
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Mar 28, 2024
03/24
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NTV
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bankman fried was accused of stealing $8 billion from clients in the ftx exchange. a graduate of the massachusetts institute of technology, bankman fried became one of the most famous crypto investors in the united states before he even turned thirty. forbes estimated his fortune at $26 billion, but in november. used clients' money to to solve the financial problems of his other assets, according to investigators, he directed $10 billion to help his hedge fund alameda research. starting next monday , the rules for purchasing in foreign online stores will probably become stricter for russians; it can even be calculated that they will become stricter five times. on april 1 , the deadline for the duty-free import of goods of one thousand euros expires; in order for the measure to be extended, a decision from the eurasian economic commission is needed: in addition to russia, it includes belarus, kazakhstan, armenia and kyrgyzstan, but as vedomosti newspaper sources say, the preparation of documents has not yet begun, which means it is very likely that from april 1, russ
bankman fried was accused of stealing $8 billion from clients in the ftx exchange. a graduate of the massachusetts institute of technology, bankman fried became one of the most famous crypto investors in the united states before he even turned thirty. forbes estimated his fortune at $26 billion, but in november. used clients' money to to solve the financial problems of his other assets, according to investigators, he directed $10 billion to help his hedge fund alameda research. starting next...
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Mar 28, 2024
03/24
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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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Mar 28, 2024
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what was ftx? this was a crypto exchange widely advertised and endorsed by celebrities, who by the way were paid. it was pitched as the way for main street to get into the riches of the criminal world. what was happening behind the scenes is a jury agreed he was using it as a personal bank and making risky investments in alameda, an affiliated hedge fund. that he was using the money to buff up his own prestige in washington and to live a lavish lifestyle. hubris and access is what the jury believed. we are waiting, any hour we could get the verdict from the judge. >> thank you so very much. appreciate the update. >>> new developments about the six workers presumed dead after a bridge collapse in baltimore. just last night officials recovered the bodies. bodies. 35 years old and originally from mexico he had been living in mexico. we are also learning more about the other victims. miguel luna 38, originally from el salvador, a husband and father of three. he had been living in maryland for at least
what was ftx? this was a crypto exchange widely advertised and endorsed by celebrities, who by the way were paid. it was pitched as the way for main street to get into the riches of the criminal world. what was happening behind the scenes is a jury agreed he was using it as a personal bank and making risky investments in alameda, an affiliated hedge fund. that he was using the money to buff up his own prestige in washington and to live a lavish lifestyle. hubris and access is what the jury...