it is the wild west, ftx turned out to be a hot air i ftx turned out to be a hot air balloon and it poppeddmitted to being a criminal conspiracy to commit money laundering. that exchange is still going, so you can make money in crypto but you should tread carefully. crypto but you should tread carefully-— crypto but you should tread carefull . ~ . , ., , carefully. what lessons have been learned? the _ carefully. what lessons have been learned? the main _ carefully. what lessons have been learned? the main lesson - carefully. what lessons have been learned? the main lesson is- carefully. what lessons have been learned? the main lesson is whenj learned? the main lesson is when ever anyone _ learned? the main lesson is when ever anyone talks _ learned? the main lesson is when ever anyone talks techno - learned? the main lesson is when ever anyone talks techno babble, | ever anyone talks techno babble, don't listen. i know the technology, it is not remarkable. crypto is a way to construct financial instruments out of the sight of regulators and now we are getting a reminder why regulations ex

the defence says that people who lost money with ftx stand to be paid backin lost money with ftx standlting way the prosecution has argued for between 40 prosecution has argued for between a0 and 50 years incarceration time for sam bankman—fried. the defence far less, between five and six years. some tough words from the judge this morning. he said he sees the loss greatly exceeding $550 million and the reason why that is a bar is because that is the top of the sentencing guidelines. if that can be shown on the judge is able to give the widest sentence, the greatest sentence that is in his guideline book. he said he will come in below that, but he likened it to keep going to las vegas, taking the bag of loot used all, betting it, winning the outcome and then not be entitled to keep the fans. the judge said just because bankruptcy proceedings have been able to call back some money, we pay some creditors and debt for investors and customers doesn't mean no crime was committed. ., ., , ., , , ., committed. how has he appeared in revious committed. how has he appeared in previous court _ c

. >> 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

from his cryptocurrency exchange ftx by.nd guilty of fraud and conspiracy. prosecutors say he took almost £8 billion from customers. and some other stories now. a man has been arrested on suspicion of manslaughter in connection with the death of gogglebox star george gilbey after the a0 year old died in a fall at work. george, who was a self—employed electrician, sadly died at the scene. and it's a great day for freddie flintoff fans as he's making his return to tv after his top gear accident with a second series of a bbc cricket documentary called field of dreams. time now to leave you with 10 seconds of a swan rescued from a supermarket roof in an ikea bag. the best thing about this is the swan was called steve. the team used a 13 metre ladder to rescue him and bring him back to safety. you're all caught up now. see you later. i'm mark edwards, welcome to sports day. here's what's coming up on the show. newcastle's sandro tonali charged by the english fa for alleged betting rules breaches afterjoining the club. we hearfrom

from his cryptocurrency exchange ftx by.onspiracy. prosecutors say he took almost £8 billion from customers. and some other stories now. a man has been arrested on suspicion of manslaughter in connection with the death of gogglebox star george gilbey after the a0 year old died in a fall at work. george, who was a self—employed electrician, sadly died at the scene. and it's a great day for freddie flintoff fans as he's making his return to tv after his top gear accident with a second series of a bbc cricket documentary called field of dreams. time now to leave you with 10 seconds of a swan rescued from a supermarket roof in an ikea bag. the best thing about this is the swan was called steve. the team used a 13 metre ladder to rescue him and bring him back to safety. you're all caught up now. see you later. hello, i'm mark edwards, welcome to sports day. here's what's coming up on the show. newcastle's sandro tonali charged by the english fa for alleged betting rules breaches afterjoining the club. we hearfrom manager nuno esp

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'

. >>> 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

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 two million when ftx imploded. today he says he is still waiting to get that money back. >> i think that it goes some closure, but i don't think it fully reflects the financial and emotional toll on customers. >> kate, when ftx lapsed, there were real questions about crypto's future. how is it faring now? >> at the time, lester, sam bankman-fried's fraud was seen as irrep

there are about 1.2 million people who were still out of pocket from the ftx collapse. heard today, i have heard it is 8 billion, most of that money that has gone missing has been recovered by the debtors and will be given back to the individuals, but of course they will be given the monetary terms that they lost back in 2022. and of course, if you had one bitcoin on the ftx exchange in 2022 you would have lost 16,000, but if you would have lost 16,000, but if you had been given back that bitcoin, today's value is more like 70,000. i would bitcoin, today's value is more like 70,000. iwould be bitcoin, today's value is more like 70,000. i would be very interested to see whether victims make of this. i know one particular high—profile victim that has been a leading campaignerfor victim that has been a leading campaigner for other victims, victim that has been a leading campaignerfor other victims, he is campaigner for other victims, he is about campaignerfor other victims, he is about £2 million out of pocket. and i know from speaking to a couple of days ago, he was hopin

how did ftx come crumbling down? david: sure.hs ago, sam bankman-fried was a huge star in 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 could 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 the bank, and that posed a big billion dollar 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 banked their money in his exchanges, they lost all the money. those are the victims in this case? david: those are sort of one subset of the victims. they're probably the largest subset. but the other victims include venture capital investors, who put in more th

much of that money was gone at the time ftx collapsed.ollapse the bankruptcy attorneys led by john ray have managed to recover a significant part of the money that was lost. that is summer lee for the victims. as we saw today and as we have seen from victim statements in the past it is kind of small comfort. people, even if they have their initial investment back and expect to get their initial investment back one day, many lives were ruined by this episode and they will never be the same. ed: let's go back out to the courthouse on the ground with bloomberg's david gura. the numbers here are staggering. you look at the charges, the totality was 110 years. the prosecutors, 40 to 50 years. we end up with 25 years. we are getting more information. what is top of mind for you, david? david: we're at the point in the hearing where the judge is indicating where he thinks sam bankman-fried might be remanded to prison. he will recommend a san francisco bay area prison. he grew up close to the stanford university campus. both his parents are membe

fm— of people who lost money on his exchanue, ftx. ., ., exchange, ftx.et me ask you more broadly about — exchange, ftx. let me ask you more broadly about the _ exchange, ftx. let me ask you more broadly about the american - broadly about the american regulators and how they have allowed financial institutions and ordinary investors to get involved in crypto, so it is kind of legitimising it, you might argue. the last time you are on newsnight, you called it a hierarchical ponzi scheme still feel the same? , . ~ , the same? yes, and i think there is more to come _ the same? yes, and i think there is more to come here. _ the same? yes, and i think there is more to come here. -- _ the same? yes, and i think there is more to come here. -- so - the same? yes, and i think there is more to come here. -- so do - the same? yes, and i think there is more to come here. -- so do you i more to come here. —— so do you still feel the same? sam was a client which makes the stable coins for crypto exchanges and that is what is being traded. tether. his other company was

how did ftx come crumbling down?t 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 other victims, incl

ftx was the exchange we are talking _ laws. ftx was the exchange we are talking about, _ laws. - are talking about, who is leading the crypto exchanges now? it leading the crypto exchanges now? , ., now? it is all influx. the ceo of finance — now? it is all influx. the ceo of finance comedy _ now? it is all influx. the ceo of finance comedy was - now? it is all influx. the ceo i of finance comedy was largest exchange pleaded guilty to money—laundering charges last year, we will be sentenced next month. there are other businesses in the space, coin bases there, we are also seeing traditional finance companies like blackrock and fidelity investments start to offer bitcoin products as well. {lilia bitcoin products as well. ok, connor sephton, _ bitcoin products as well. ok, connor sephton, has - bitcoin products as well. 0k, connor sephton, has been a pleasure. thank you very much. finally, if you are celebrating easter — and perhaps inviting family for an easter lunch — you might be sitting down to something like this, roast shoulder of lamb with all the trimmings. but would you

ftx allowed people to trade their normal money for digital currencies like bitcoin.om ftx was used to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and bankman—fried was arrested. there is a courthouse in manhattan. we will give you that sentencing when it happens. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. i want to let you see a clip when you asked sam bankman—fried whether he was incompetent or fraudulent, which has been one of the key elements of the criminal case. were you incompetent, or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. it was a really bad mistake, and it hurt a lot of people. and that's on me, one way or another. how did you find him? use from the interview, how did yo

i couldn't eat, sleep. >> reporter: this man lost $2 million when ftx imploded.ing 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 gillettelabs. this green bar releases trap

>> yeah, ftx customers lost access to their funds when ftx collapsed.e crypto training platform. many of them are losing hope. we heard from one of them, saying he was living in ftx nightmare. >> michelle fleury for us there in new york. good to have you on the show. thank you. as american journalist evan gershkovich approaches his first full year in russian detention, the kremlin says it won't talk publicly about the possible talk of any prisoner exchange. he was arrested in russia on suspicion of espionage. moscow accuses the wall street journal reported of trying to obtain military secrets while reporting on the war in ukraine. evan gershkovich, the wall street journal and the u.s. deny accusations of wrongdoing. i spoke with his sister and paul beckett on their efforts to bring evan home. danielle, i will start with you. we talked in december. first of all, how are you and your family doing? >> we are holding on. we in this past year have been learning about being advocates for evan. we are continuing to move forward, continuing to trust that the wh

he ran ftx.ening behind the scenes is that a sister company was arlington customer money without anybody's knowledge. $8 billion in total. when these risky bets did not pay off, effectively customers lost everything. maryam: tell me about the damage you think he has done to the crypto industry as a whole. >> it is significant. there are millions of people who invested in ftx who have had their fingers burnt and will not want to touch again. the media coverage around many of the cases in crypto, especially the volatility of cryptocurrencies, makes them more unappealing to investors. maryam: we have seen sam bankman-fried convicted. do you think there is more trust out there are not? >> i think we are seeing cryptocurrency bad actors being held to account. with bitcoin surging over the past year, greed starts to set in. maryam: so good to talk to you. thank you. if you are in the u.k., you can watch the full program, nine crypto craze moments, right now on bbc. but don't go and watch it right now,

the 32—year old founder of the collapsed crypto exchange ftx could now face decades in prison.

he hasjust been the ftx founder sam bankman—fried.our screens, to 20 years in prison for multibillion—dollarfraud. 20 years, those detailsjust multibillion—dollarfraud. 20 years, those details just coming into us. we knew the prosecutors were pushing for between a0 and 50 years. we already knew that was unlikely an hour or so ago, but we have waited to find out the exact details of the sentence. that has come 20 years in prison for sam bankman—fried. that conviction, we had at last year, for fraud, money—laundering. we heard on the court in the last three minutes from the judge, the court in the last three minutes from thejudge, a lack of remorse for the terrible crimes that in part one of the reasons that the judge came to that tariff of 20 years. these are the pictures from previous court appearances. sam bankman—fried there. after the collapse of his scheme and billions of dollars of investors' money into ftx, before it collapsed. we heard about his extravagant lifestyle. but that collapse happened and so many people losing all the

ftx-— of people who lost money on his exchanue, ftx. ., ., exchange, ftx.ou called it a hierarchical ponzi scheme still feel the same? . ., ~ hierarchical ponzi scheme still feel the same? , ., ,, , the same? yes, and i think there is more to come _ the same? yes, and i think there is more to come here. _ the same? yes, and i think there is more to come here. -- _

. >>> sentencing day for troubled ftx owner, sam bankman-fried. he will spend 25 years in prison for his part in bringing down the cryptocurrency exchange. he rubbed customers of as much is $8 million to make risky bets. he previously signaled he plans to appeal the conviction but he did apologize in court today, saying he made quote, selfish decisions that haunt him every day. no word yet on where he will serve his sentence. meantime, his parents, both longtime stanford professors, are battling a lawsuit from his old company. ftx sued the parents to clawback funds to repay its customers as the company goes through bankruptcy. sam bankman-fried's parents are accused of getting rich off the company, receiving $26 million in gifts and property. as far as what is left of ftx, nobodies or investors were willing to put up enough money to rebuild the exchange so they plan to liquidate. the company is planning to get customers there running -- money back and has already collected $7 billion. so far, the process is slow going, as ftx needs to verify which

his legal team is pointing to ftx's bankruptcy.how the company expects to fully pay back those customers. bankman-fried says he plans to appeal his conviction and sentence. live in the studio, gloria rodriguez, abc seven news, kumasi. >> thank you gloria. developing news in pacifica, where an investigation is underway after police shot and killed a woman whose adult son says that she shot him first. police say that man called 911 from an apartment on francisco boulevard yesterday morning. when officers got there, they say the woman was trying to leave and then pulled a gun on them. they shot her and she later died. neighbors say it was so loud. they originally thought it was construction work . >> everybody says it's a pop, pop, pop like a firework. this was not a pop pop, pop. it was more like a bang, bang, bang. like dropping the heavy equipment that they use, you know, below me and i was like, what are they doing this morning at the apartment, a ford escape could be seen with at least five bullet holes in the driver's side door.

kaplan said he projected entirely the defendant's asser tatian that no one was harmed in the fall of ftxed to $8 billion of customer losses totalling losses to customers investors and creditors more than $11 billion. judge kaplan said that that informs how he made his sentencing decision. as he said, sam bankman—fried sentenced to 25 years in jail, that is far shy of the 40—50 years —— sentencing guidelines provided to thejudge for the crimes sentencing guidelines provided to the judge for the crimes that sam bankman—fried was found guilty of totalled more than hundred years which is easily tense about to a life sentence for the 32—year—old bankman—fried. its, life sentence for the 32-year-old bankman-fried.— life sentence for the 32-year-old bankman-fried. a crypto “ournalist followin t bankman-fried. a crypto “ournalist feiiewingttefi bankman-fried. a crypto “ournalist following the case h bankman-fried. a crypto journalist following the case extensively - bankman-fried. a crypto journalist j following the case extensively joins following the case extensivelyjoins me now. first let's ta

when ftx collapsed bitcoin was worth around $21,000. at its current price it is $70,000.om and yet we don't have more rules yet. the other thing worth pointing out is that sam bankman—fried's nemesis, the ceo of binance also faces his own legal challenges and he'll be so instant in a separate case on april 30. , . ., , ., instant in a separate case on april 30. -- sentenced in a separate case. thank yom — here in the uk, more than 200 workers are taking part in two days of strike action at an amazon site in birmingham. members of the gmb union have been striking at the online retailer's fulfilment centre since wednesday. it will be the latest industrial action over a long—running dispute, with gmb calling for a £15—per—hour — that's around $18 — minimum pay rate — and union rights. in november last year, amazon workers from 30 countries went on strike during black friday, over pay and conditions. so are these strikes having any effect? eva pascoe is e—commerce director for the retail practice. she says amazon's management is facing a perfect storm. the workers are asking

ftx a collapsed in late 2022. he siphoned billions in customer funds from ftx to keep his privately controlled hedge fund afloat. prosecutors say he gambled repeatedly with other people's money in the tune of $8 billion dollars. he faces between 40 and 50 years in prison. but his lawyers are requesting no more than six years. they say this interview with george stephanopoulos is proof that he's already accepted responsibility. >> but you're ultimately responsible and ultimately, absolutely. >> like i look, i should have been on top of this, and i feel really, really bad and regretful that i wasn't. and a lot of people got hurt and that that's on me. >> the son of two stanford law professors, bankman-fried was born on the campus of stanford university defense attorneys say he is quirky, not conniving, and will say he deserves a chance to become a humanitarian and a philanthropist. the sentencing is scheduled for today in manhattan. live in the studio gloria rodriguez, abc seven news kumasi. >> thank you. gloria. a

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

what was ftx?s 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 19 years

bankman—fried to be sentenced in the next few hours for stealing billions of dollars from customers of his ftxxchange. he faces decades behind bars. also coming up, spoiling the party. how soaring rents in tourist hotspots like ibiza are making locals homeless and starving businesses of vital staff. plus, sleep tight, mind the bed bugs don't bite. uk hotels have seen levels of the pest almost triple in the past two years. could ai tech bring a whole new meaning to the phrase software debugging? hello and welcome. if you just joined us, i'm sally bundock. we're looking at the top business stories. we start in the us, where in the next few hours sam bankman—fried — the former cryptocurrency tycoon convicted of stealing billions of dollars from customers — will be sentenced for his crimes. the 32—year—old founder of collapsed crypto exchange could now face decades in prison. our cyber correspondent joe tidy was the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise — and downfall — of the man behind one of the biggest financial crimes in us hist

now the collapse of ftx sent ripples through the crypto world, sending bitcoin prices down. companies going bank run. several executives testified that sbf misprappropriated thos funds. and also generating some false financial statements. they all pleaded guilty, the former executives to similar charges. they are expected to be sentenced in the coming months. sbf is expected to go to prison. the question is for how long. prosecutors are requesting 40 to 50 years when his defenders are requesting five to seven years. >> more than 700 tons of -- >> still to come to come, ml,ml day. >>> that's coming up right after this. that's coming up right aftr this. feeling sluggish or weighed down? could be a sign that your digestive system isn't at its best. but a little metamucil everyday can help. metamucil's psyllium fiber gels to trap and remove the waste that weighs you down... so you can lighten every day the metamucil way. mr. clean magic eraser powers through tough messes. so it makes it look like i spent hours cleaning, and you know i didn't. it makes my running shoe look like n

judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion.to claw back much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former girlfriend of sam bankman—fried and head of his crypto hedge fund, alameda research. she painted the man known by his initials, sbf, as a risk taker hungry for influence. now facing decades behind bars, his risk—taking days are over. in new york, erin delmore, bbc news. scotland could become the first uk nation to legalise assisted dying if a bill introduced at holyrood is approved. under the proposals, a patient could only request medical assistance to end their life if they had an advanced, progressive, terminal illness, which had been diagnosed independently by two doctors. two doctors would also need to establish someone is mentally com

and ftx founder sam bankman-fried sentenced to 25 years behind bars. we recap how got to this point. >> police say stepped up safety measures across its stations are making a big difference for riders. officials released new data showing the effectiveness of its safe and clean plan as kron four's theresa tells u.s. felony arrests are up. 62 1% from last year. >> bart police chief kevin franklin saying that he's applauding this new data saying that it is a reflection of the hard work that our police officers have been doing to try make the system safer. take a look at this. you need to see these pictures. this is an example of some of the illegal guns confiscated during arrests in total. bart police say officers took and 49 illegal handguns that is up from 40 in 2022, it's the most guns bar police have ever recovered in a year. officers making 726 arrests and 2023 compare that with 448 in 2022, the department says that is a 62% increase in arrests. bart police chief kevin franklin saying, quote, since we started deploying more patrol officers to ride tr

sunil kavuri was one of his victims. >> i lost a huge amount of money when ftx collapsed. >> reporterw 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 medium se

judge kaplan said the losses to ftx customers, investors and lenders totalled more than $11 billion. much of the money, but the judge said that doesn't absolve bankman—fried. the prosecution was able to show multiple times where sam had the opportunity to do the right thing, to come clean, and he chose not to do so. during sentencing, thejudge hearkened back to testimony from the prosecution's star witness, caroline ellison, the former girlfriend of sam bankman—fried and head of his crypto hedge fund, alameda research. she painted the man known by his initials, sbf, as a risk taker hungry for influence. now facing decades behind bars, his risk—taking days are over. in new york, erin delmore, bbc news. in south africa, 45 people have died in a bus crash in the north—east of the country. the bus was travelling from botswana to the limpopo province. the department for transport says the vehicle plunged off a bridge into a ravine after colliding with the crash barrier, and burst into flames when it hit the ground. an eight—year—old child was the sole survivor and has been taken to hospit

and that's on me. >> his legal team also pointing to ftx bankruptcy estate and how the company expectsfully pay back those customers. but experts say the massive impact of his fraud on the public could decide the number of years or decades he spends behind bars. >> the state is seeking a number of enhancements to his current sentence, and what they're saying is that he violated public trust, which is an enhancement. he affected more than 25 people significantly in a financial way. >> bankman-fried says he plans to appeal his conviction and sentence antiwar sentiment is growing here in the u.s. as israel prepares for a possible new ground invasion in gaza, a new gallup poll shows 55% of americans disapprove of israel's military action. >> experts have been warning that palestinians are now facing famine. abc's britt clennett spoke with a unicef official who says the children of gaza are trapped in a cycle of suffering. >> you lie in bed and you just hear, and your building shakes and it feels like you're lying in a coffin. you just don't know what's going to happen if you're going to ge

>> it doesn't seem like he's got the money personally, but the attorneys who are in charge of ftx nowcome 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 out here. it looks like it was more like

from his cryptocurrency exchange ftx.raud and conspiracy. prosecutors say he took almost £8 billion from customers. and some other stories now — a man has been arrested on suspicion of manslaughter in connection with the death of gogglebox star george gilbey after the a0 year old died in a fall at work. george, who was a self—employed electrician, sadly died at the scene. and it's a great day for freddie flintoff fans as he's making his return to tv after his top gear accident with a second series of a bbc cricket documentary called field of dreams. time now to leave you with 10 seconds of a swan rescued from a supermarket roof in an ikea bag. the best thing about this is the swan was called steve. the team used a 13 metre ladder to rescue him and bring him back to safety. you're all caught up now. see you later. hello, i'm mark edwards, welcome to sports day. here's what's coming up on the show. newcastle's sandro tonali charged by the english fa for alleged betting rules breaches after joining the club. we hearfrom mana

sam bankman—fried used to be the boss of the ftx exchange — but was found guilty of swindling customersllion dollars — which can be used to compensate victims. he's expected to appeal the sentence — but it could be an uphill battle — sam bankman—fried used to be the boss of the ftx exchange — thejudge had to decide the judge had to decide a thejudge had to decide a couple the judge had to decide a couple of things, and taking into account the sentencing he was considering the age, the losses involved, the impact of the victims, but also the message of the victims, but also the message of deterrence and ultimately he settled on 25 years for sam bankman—fried. it was less than lawyers who had been prosecuting the case had been asking for. they wanted 40—50 years. lawyers for sam bankman—fried were saying he should get less than seven years. judge lewis kaplan decided that splitting the difference in the middle was the way to go. as you mention, sam bankman—fried is only 32 years old, so if he serves the full salary will come out sometime in his late 50s. it was a factor that the judge cle

kaplan said that he rejected entirely the defendant's assertation that no—one was harmed in the fall of ftxanted to make as much money as possible and then give all of it away. he was the subject of flattering media profiles. "was he the next warren buffett," one magazine front cover set of him. it's a 25—year sentence for sam bankman—fried. we'll see how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45 people killed as bus crashes off a bridge. also on the programme, scotland could become the first part of the uk to legalise assisted dying. we'll look at how different countries around the world approach these sensitive decisions. and we'll have the latest from the world of artificial intelligence. ai therapy, genital scans and perfect pints all explained in al decoded. we'll we�* ll start we'll start this hour with this breaking news out of south africa. 45 people at least are believed to have been killed after a bus crashed in the south african province of limpopo. these are the latest pictures we have here. just on in th

ftx allowed people to trade their normal money for digital currencies like bitcoin.to fund an investment fund, alameda research, as well as to buy luxury property in the bahamas and donate to politicians who might support cryptocurrency—friendly laws. both companies went bust in 2022 and he was arrested. with me is our cyber correspondent, joe tidy, who was the last person to interview bankman—fried before he was arrested in december 2022. can you reflect first of all on what your impressions were of this man because when we see the image of him, he looks like an overgrown teenager, channelling teenager computer geek look. that teenager, channelling teenager computer geek look.— teenager, channelling teenager computer geek look. that is what you not. he computer geek look. that is what you got- he turned _ computer geek look. that is what you got- he turned un _ computer geek look. that is what you got. he turned up to _ computer geek look. that is what you got. he turned up to the _ computer geek look. that is what you got. he turned up to the interview i got. he tu

and pounds for crypto currency and he assured those customers, as his ftx was collapsing was safe butry had found that it had been moved to an investment fund and that sam bankman—fried used that money to enrich himself and his inner circle to make political donations in charitable contributions and buy luxury real estate. so when customers went to pull their money out, it was not there. £311" out, it was not there. our correspondent _ out, it was not there. our correspondent in - out, it was not there. our correspondent in new - out, it was not there. our correspondent in new york there. around the world and across the uk. this is bbc news. this is bbc news. in india, deepening religious polarisation and increasing islamophobia have marked narendra modi's second term in power. ahead of the general election, which is due to begin next month, people from the muslim community, which constitutes india's largest minority, have told the bbc they feel they are being marginalised and suppressed. the government denies the allegations. our south asia correspondent yogita limaye reports from no

so has the market put the ftx fiasco behind it? let's bring in natalie brunell. 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 getting paid back at november 2022 levels, and bitcoin, of course, 4x what it was back then. and so to that point, to w

the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25ears 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 the judge had to decide a couple of things and took into account age, losses involved an impact on the victims and also the message of the tarrant 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 you wanted 40—15 years and by contrast lawyers for mr bankman—fried said he should get l

the 32—year—old founder of collapsed crypto exchange ftx could now face decades in prison.as the last person to interview bankman—fried before he was arrested in december 2022. he reports on the rise and downfall of the man behind one of the biggest financial crimes in us history. interesting thing that's been happening pretty recently is that the bitmex bitcoin perpetual futures ran up a lot in price. this was sam bankman—fried in his element — at his desk, talking crypto and making incredible profits. his hair and shabby look were all part of the appeal and brand. sbf, as he was known by legions of fans online, portrayed himself as a maths genius who wasn't interested in personal wealth. it was all about developing the cryptocurrency industry and giving to charities. this is big. but ftx, his cryptocurrency exchange that sold bitcoin and other virtual currencies for normal money, like pounds and dollars, grew to be the centrepiece of a sprawling business worth $32 billion. so, when it all came crashing down in december 2022, more than a million customers were left out of

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

stocks that go through it there's a piece about datacenters, largest users of copper i'm going short ftxnd long fcx. i think we're seeing a lot of companies that have been dogs move up. estee lauder, one of my worst picks, what a pivot going into amazon from being travel, resort, and china. kimberly clark is another good one to watch colgate, which rings the bell today, another good one. you're seeing it broaden i thought this was incredible. morgan stanley likes -- they like sl green. i thought they went out of business >> we mentioned the sl green barclay's upgrade yesterday. >> sl green went out of business and it's almost 100% occupied. i'm just joking. sl green is an amazing company, and you have to go to grand central to know, and i know that's hard for a lot of analysts to do modelo -- constellation is going to be number one because bud lost so much shelf space, and i just find when you see minorfol southern go up, and draftkings making a comeback, and wells fargo do well, and jpmorgan -- this is a follow the leader, but the leaders are everywhere, and let's let mag seven rest a l

so, we know there's an ftx, mixon, terra, pay connect, bitcoin, all gone to zero.hat and some would say there's no risk-based reason for cfpb to venture into this. let me just ask you the last question. if i set up a banking system that has all of the bells and whistles, all banking regulations for one group and then i create another one that has no regulations, completely unregulated, what-- where is the money going to migrate in your estimation? where will the money migrate fi migrate to? the heavily regulated one that protects consumers or the rea w? >> i think quite simply, it will migrate over to the nonbank area because there are that space. but, the trade-off there is that there can be more consumer harm in that space because there is less watching of the players in that market. >> thank you. i yield back. >> the gentleman yields back. >> mr. lucas of recognized for five minutes. >> thank you, mr. chairman. the u.s. banking sector is among the most highly regulated sectors in the country and in 2010, the passage of dodd-frank with 2000 sweeping pages across

i hope the ftx case opens people's eyes to the ftx case opens people's eyes to the difference betweeneducator because it is such an important distinction that needs to be made. bitcoin is a network that no one can control or manipulate. it is an asset without any due. what sbf did isissue asset without any due. what sbf did is issue his own token, he washed traded it, marked it up on his balance sheet and use that to extract billions of dollars of customer money. he went out and bought a mansion in the bahamas, put his name on a stadium, lobbied politicians, a lot of people are familiar with bernie madoff, he spent $1 million on political donations before he got caught, sbf spent nearly 100 million, customers' money. cut and dry corruption, fraud conspiracy, i hope you understand and regret the harm he caused people. this is also by bitcoin exist, to show that trust in our current system is constantly broken and we need to remove the power that exist with someone being able to just print money out of thin air, which is what he did. in just print money out of thin air, which is what he