13 transferred to barcelona, the more in the management of the brazilian club sontols and the spanish side barcelona, were accused of artificially deflating the value of his transfer to avoid having to fully pay out his representative. they were all acquitted in a spanish court that he's coming up next. my colleague rob watts with d. w. business news and the fall of a crypto currency tie. cooper. i think you know who that is. i'll see you tomorrow . how about taking us to you or you could even take a chance on lunch. i mean, to me, i don't expect to happy ending literature list germany.

oh, hello guys. this is the 77 percent the platform with you know, all these channels. we're not afraid to young people clearly have the solution. good future this 77 percent every weekend on d. w. a ah. criminal charges for the crypto king form a seo of crypto currency exchange f t x sound background free has appeared before us court. that is a rest and the bahamas. delegations of your law maker was brought a new law maker being bribed by guitar,

all raising concerns about outside interference in how europe is run. this is due to be a business on robots in berlin. welcome to the program. it's collapse rocks, the crypto trading community. now the former boss, so trading platform f t x is facing criminal charges. sam bagman freed has denied knowingly committing fraud. now that claim could be tested in the us courts from the pinnacle to the pit. sam, bagman fried the disgrace crypto tyco was arrested in the bahamas at the request of the united states seeking to charge him off to the spectacular collapse of his crypto currency platform. f t x. the 20 year old crypto celebrity became an object of attention last month, as he suddenly filed for bankruptcy as if the ex suffered the liquidity crunch. the company left more than a 1000000 clients unable to access their funds. the liquidity crunch was caused by

a f t x users pulling $6000000000.00 from the platform in 3 days. and it came after bank, my freed secretly mo, $10000000000.00 worth of f t x customer funds to another. one of his company is called alameda research through a digital back door. at least 1000000000 of debt has reportedly vanished completely . finally, on november 11th f t x filed for bankruptcy protection and mac, no fried, stepped down as chief executive, the united states securities and exchange commission north has charged bank, min fried with orchestrating a scheme to defraud investors. bank when fried has previously apologize to customers, but said he doesn't personally think he has any criminal liability. well, as discussed, the collapse of f t x and arrest of sam bagman freed with nicholas de from coin desk. and actually nicholas coined as did some crucial reporting on this story. so say you could get to speak to you about it. when did the problems with f t x begin?

hi, thanks for having me. you know, arguably, texas problems have been kind of baked in since it's foundation based on some of the public filings that we seen. and some of the allegations were seen from authorities where f t x just allowed its sister company, alameda to borrow funds, which turned out to be customer funds, which alameda was unable to pay back, leaving a pretty massive hole on takes the balance sheet. but kind of, you know, more specifically this entire story kind of happened over the last month or so where f t x went from being this, you know, massive tighten of industry to being this company going through bankruptcy. you know, the animator revelations are what sort of led to the collapse, but we've just seen john ray, the current se currency even testifying before congress. and he read out a long list of things that they since discovered that was wrong with f t x. how was the company that was so big and handling so many people lose money able to be

mismanaged so badly? a big part of it seems to be that x was controlled by a fairly small group of people who just didn't really engage, apparently in some standard practices for bookkeeping for governance. there wasn't really a central, you know, board of directors or anything like that to oversee the main f t x entity. there wasn't much in the way of documentation. is just on the allegations that have been made in recent weeks. but it sure seems like what happened was f t x went from, you know, being does kind of brand new company when it was founded to, you know, growing rapidly to, you know, being this multi 1000000000 dollar multinational entity, while maintaining the exact same practices that it had as a startup, one of the allegations that, you know, mr. raid made has financial services. committee hearings. they was,

they were using quickbooks, a, you know, fairly unsophisticated retail piece of software for its entire bookkeeping purposes, which is not, not something you'd expect from a massive entity. yeah, i've seen so much as if the business out grew, the people that were running. it isn't it, but how's the instance that, you know, this, this case with f t x? is it shaken the confidence of, of crypto traitors, iso, not fear that the area of the x is out there. i think there definitely is a major fear of that. now, one of the biggest things about f t x is that it had gone for months and years saying, we are the reliable company. we're safe, we are so many people can trust. and a lot of people took them at the word. so, you know right now the fact that we're looking at a bankruptcy where there could be potentially over a 1000000 customers who need, you know, have lost access that are funds not to mention the other companies that kept their

own funds on f t x. assuming you have to be safe the ramifications are huge. there is definitely a lot more scrutiny. i think of other crypto companies like f t x and a lot more question. a lot more, you know, uncertainty about whether or not these companies are indeed safe for consumers. and it's going fascinating to watch where this goes next. nicholas de, from coin to us. thank you so much for bringing us that story. now let's take a look at some of the other global business stories making. the news is food delivery platform in spain has agreed to pay severance to more than $4000.00 drive as it fired in 2021. that's after the introduction of a new law or in spain that forced food delivery companies to hi. corey is staff instead of self employed, contract and smithfield. join. leslie is opening a new production site in ukraine. the company says it would invest $40000000.00 euros in a noodle production factory,

which will serve as an eastern european regional hub for food and culinary products . now, new data shows us inflation flowed by more than expected in november. consumer prices were up 7 point one percent on a year earlier that the substantial drop from the 7.7 percent rise in october and even lower than the $7.00 forecast by analysts. us stock surged on the news. meanwhile, president joe biden says it shows is economic plan is working, but he admits prices are still too high. well that's close to correspondence at the new york stock exchange. yeah, of course on this, yann's inflation still above 7 percent. so even if it is slowing down, what are the main drivers of it now? well, but the good news is that 4 fifths consecutive months. so the price increases are on the way down. and when we talk about price is when we talk about inflation,

we're talking mismatch of supply and demand. and we do see some improvement here. some of the inflation was caused by all those issues that we had with the supply chain. so there has been some improvement and on the demand side was a weaker economic outlook was higher interest rates. we had a little bit of pressure on that. so the supply demand occasion got a bit better that help. so if we look at certain prices, for example, the price for used cars went down and specially the prices for energy and the other side. we still have high priced that when it comes to food and also to shelter. so how can we got another rate decision by the fed wednesday? will these inflation figures influence that now up? it's not just another right decision. it will be another interest rate increase the 7th of the year, but the pay will slow down would be

a huge surprise if we would see anything else, but an interest rate increase of $50.00 basis points. there are some science that at least we have see in peak inflation, even if an inflation or consumer price of the 7 point one percent historically is too high, but at least your wall street now bets are. so we will see that 50 basis points on wednesday, we will probably see another 25 basis points at the following meeting. that is in february and then the big question remind remains. where will will it end will be ended around 5 percent, or do we have to go higher to bring in inflation down in the long term? but i mean, this report definitely was them some good news. so are we talking about race decision tomorrow and go to new york? thank you. a back here in europe, the rest of a senior european parliament lawmaker on charges of bribery has raised concerns

about corruption in the used car doors of power at the center of it. the middle east and nation of guitar. the emerett of guitar is small, but rich. the country thrives off of raw materials above all oil and gas, which are sold around the world. last year, guitars exports to the e. u amounted to almost 7000000000 euros. the vast majority of that was gas going the other way that you sold goods worth around 8500000000 euros to guitar. the main exports were machines, turbines and electronic equipment. guitar has also been investing heavily in a range of european businesses. the country holds a quarter of british carrier, i a g. it has a 17 percent stake in germany's volkswagen and is also a major shareholder and swiss mining giant glen core and spanish energy conglomerate ira rolla. one truth hangs over guitar, at some point, raw materials will run out. when that happens,

money and wealth hoss to come from somewhere. according to a recent study on guitars, investment strategies, they have to come from very different sectors. they're not just investing in finance or certain high tech sectors. they also invest in soft sectors like fashion and spools. and in many cases they can their investments reach a critical level that allows them to exert a strategic influence on certain key players and sectors. investments of this type could also serve to polish the image of the em rent. after all, katara is one of the world's biggest suppliers of liquefied natural gas. that small country is playing a big role in the current energy crisis. the latest allegations of guitar bribing members of the european parliament do not fit very well. what this image honestly, i was very surprised because i wouldn't expect them to choose waste that are less risky and less obvious the illegal in increasing the political influence in europe . especially given the allegation they already faced in the past surrounding the

warding of the world cup. the world cup may be in its final stages, but this case may just be beginning. as a reminder, the top business story with the following for you this, our ex, found a sound back on freight as a pay it before you escort, following his arrest and the bahamas is accused of defrauding investors after the crypto currency exchange collapse. he's previously said he never knowingly committed nestle from the business team here in berlin. from all had to theda. we dot com slash business to next time healing with the help of a eye. doctors who have reached their limits with conventional medicine use artificial intelligence to open up completely new perspectives. thanks to visionary technology that's faster and more precise than human beings.

kluso. next on d. w. what's on the menu in the street? how do you tried unrolling? may's gone the most to port with try out a sizzling mix of african flavors and and gonna will need sandra, who has a secret recipe for strength and body positivity. just 77 percent . 60 minutes on d w. o. you become a ready no,

with pickers, paralyzing your societies computers that out and governments that go crazy for your data. we explain how these technologies work, how they can go in for. and that's how they can also go terribly what you know when you do when current medical science has run out of options and doctors don't know where to turn, artificial intelligence might be able to help, particularly when it comes to extreme cases. it gives me hope medi.