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The Intelligence from The Economist
The Intelligence: The fallen crypto king learns his fate
Mar 28, 2024
21:58
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A cryptocurrency exchange founder faces a maximum 110-year jail sentence. The challenges and benefits of building new cities. How M&S knickers can help solve murders.
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- Founder of FTX facing long prison sentence for financial fraud charges.
- Global trend towards building new cities to address urban challenges and experiment with communal land ownership.
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Conviction of Sam Bankman Fried in Cryptocurrency Fraud Case
Sam Bankman Fried, former boss of FTX cryptocurrency exchange, faces charges like wire fraud conspiracy and money laundering. His empire's collapse left $8 billion of customers' money missing. Despite maintaining innocence and citing accounting errors, he could face up to 110 years in prison, with prosecutors seeking 40-50 years.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode