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Fri. 11/03 – SBF Guilty
Nov 3, 2023
Sam Bankman-Fried has just been found guilty on multiple counts of fraud, shaking the crypto world. Elon Musk celebrates a financial win with Starlink, while gearing up to launch a new AI model that could disrupt the market. The FTC scrutinizes Amazon for allegedly boosting misleading ads to dodge antitrust actions. Meanwhile, Joe Rogan's lucrative Spotify deal is nearing its end, raising questions about the future of his podcast and Spotify's strategy amidst financial pressures. The tech landscape is buzzing with change!
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Quick takeaways
- Sam Bankman-Freeze has been found guilty of fraud, wire fraud, and money laundering in the FTX trial.
- Elon Musk announces that Starlink has achieved cash flow break-even and will release its own AI model.
Deep dives
Sam Bankman-Freeze Found Guilty in FTX Trial
Sam Bankman-Freeze has been found guilty on all seven counts of fraud and conspiracy in the FTX trial. The jury took four and a half hours to reach their decision, declaring him guilty of wire fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering. Bankman-Freeze's defense claimed he had honestly failed in operating a high-risk business, but his former roommates and lieutenants contradicted his testimony. Sentencing is scheduled for March 28th, 2024.
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