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Sam Bankman-Fried's fraud trial concludes today, eurozone inflation falls to lowest level in two years, Odey Asset Management shuts down due to sexual assault allegations. Global leaders and tech executives gather in UK to discuss the risks of artificial intelligence.
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- The trial of Sam Bankman-Fried, founder of FTX, highlights the potential criminal intent and blame-shifting surrounding the collapse of the cryptocurrency giant.
- The decline in Eurozone inflation to 2.9% may influence central bank interest rates, but economists caution that rising energy prices may undermine this decline in the long term.
Deep dives
Closing arguments in trial of Sam Bankman-Fried, founder of collapsed cryptocurrency giant FTX
The trial of Sam Bankman-Fried, founder of the now-collapsed cryptocurrency giant FTX, is coming to an end with closing arguments. Bankman-Fried, facing potential fraud charges, has pled not guilty. During his testimony, he expressed surprise at the $8 billion hole in FTX and attempted to deflect blame onto his subordinates. The trial hinges on whether there was criminal intent in the actions leading to FTX's collapse.
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