Sam Bankman-Fried was sentenced to 25 years in prison
Sam Bankman-Fried, who was convicted of stealing $8 billion from customers of the FTX cryptocurrency exchange, was sentenced to 25 years in prison. It was a much lighter sentence than the 110-year maximum sentence his charges carried, but it was far longer than the six-and-a-half years his defense attorneys had sought. Bankman-Fried was also ordered to forfeit $11.2 billion in assets.
The conviction marked the end of a sweeping fraud case that exposed greed and risk-taking throughout the loosely regulated world of cryptocurrencies. In November 2022, FTX collapsed almost overnight, wiping out $8 billion in customer savings. At a trial last fall, Bankman-Fried was convicted of seven counts of fraud, conspiracy and money laundering.
His sentence ranks as one of the longest imposed on a white-collar defendant in recent years. Bankman-Fried has vowed to appeal his conviction. But in his remarks after his sentencing in New York yesterday, he appeared to accept he would be in prison for some time.
“At the end of the day, my useful life is probably over now,” he said.
Why Russia failed to prevent the attack on Moscow
In the days before the attack on a concert hall near Moscow, which left at least 143 dead, Russia received a warning from the US, but its security service failed to intervene.
US and European officials, security experts and analysts said the security failure stemmed from a combination of factors. Among them was that Russia’s efforts to fight terrorism have spread too far. Where the counterterrorism division of the country’s Federal Security Service once hunted down extremists, it now targets political opponents of President Vladimir Putin as well as other Kremlin critics, LGBTQ rights activists and Jehovah’s Witnesses.
A grim milestone: Today is the first anniversary of the arrest in Russia of Evan Gershkovich, an American reporter for the Wall Street Journal. His detention on charges of espionage has just been extended by three months.
Valerie Hopkins, who covers Russia for the Times, told us that Putin is practicing “transactional diplomacy,” adding that, in an interview with Tucker Carlson, Putin “made it very clear that he wants to trade Evan specifically for Vadim Krasikov, a murderer. linked to the security services’.
Children’s health risks at U.S. border are increasing
Capacity at U.S. immigration processing centers is stretched, and immigrants, including unaccompanied children, wait for hours — sometimes days — in outdoor holding areas. These sites do not offer shelter, meals or medical care, and the lack of basic infrastructure has raised public health concerns for the most vulnerable.
ONE A judge in California could rule as early as today on whether the US is legally required to house and feed the children while they wait. Our reporter Emily Baumgaertner visited five migrant camps along the US-Mexico border in California and wrote about the conditions.
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A live stream in the Netherlands was created to help river fish migrate. Anyone who sees a fish in the feed can push a button — a bell, if you will — that alerts a worker. The worker will then open a dam to allow the fish to enter shallower water where they can spawn. Devotees welcome the distraction and the chance to help a fish come alive.
Lives Lived: Joseph Lieberman was a four-term senator who was Al Gore’s running mate in the 2000 presidential election. He has died at 82.
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Video game adventures for your heartstrings
For your gaming pleasure this weekend, we bring you a series of video game recommendations that will fill you with excitement.
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In Open Roads, a single mother and her spirited teenage daughter go on a road trip after the death of a loved one. This five-hour interactive drama with humorous touches sits on top of a Lifetime movie.
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Brothers: A Tale of Two Sons Remake starring brothers who have just lost their mother. They must work closely together to undertake a dangerous journey to find a cure for their sick father. The remake tells the same overwhelmingly shocking story as the original.
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In Banishers: Ghosts of New Eden, two ghost hunters must do their dangerous work while navigating moral choices about life and death. His stark, plaintive narrative is at times reminiscent of Nathaniel Hawthorne’s romance.
Our author told us that the narrative effects in these games might even make you tear up a little. But you’ll feel good about it.
