sam bankman-fried. i'll explain why in a few minutes. any word on when we could have an extradition and when sam bankman-fried could be back on american soil? >> a lot of the timing depends on the u.s. and bahamas coordinate on this so far, all signs point to the fact that the bahamian government is cooperating. sam bankman-fried hasn't been convicted in the bahamas yet or charged in the bahamas the prosecutors had to provide an arrest warrant and provide information to the bahamas that sam bankman-fried committed a crime. the attorney general in the bahamas said last night that once a formal request for extradition is made by the u.s., they have every intention of promptly moving the process along. that extradition process when everyone is in agreement doesn't move quickly i spoke with a former federal prosecutor who says this can take weeks to complete and in part because we don't know if sbf will fight extradition the justice department would not have charged this case unless they were confident they could extradite him. thing are mov

bankman-fried. i look forward to additional actions to hold him accountable and make customers hold again. i yield back. i now recognize the ranking member of the committee, the gentleman from north carolina, mr. mchenry for five minutes. >> thank you, madam chairman. we have heard everything but the roof. tweets, dms, and interviews are no substitute for the fact. that is why chairman waters and i were together to get this hearing together. the first bipartisan hearing of this committee in the past four years. we have work together to work together to invite to witnesses. one, mr. ray, who has proven to be a reliable witness. second, well, frankly i look forward to getting his lies here on the record under oath. nevertheless, the arrest of sam bankman-fried's welcome news. it still does not get to the bottom of what happened at ftx, why it happened, and who else may be responsible. we need to understand the flow of funds between ftx and alameda research and the other 130 related entities we need to

five other committee members got cash from sam bankman-fried.n hoven will send it to whatever reimbursement program set up and dick durbin and teen tina smith will give away to the non-profit but cory booker has not responded to multiple emails and he brushed off the question when we asked about it in person. in the interview with andrew ross sorkin yesterday, sam bankman-fried defended his donations. >> i wasn't viewing it as a partisan exercise. most of this was not donating to one party to beat the other one p in the general elections here. >> reporter: frank, he said he spent most of the money in primaries and focus was on p pandemic politics. >> andrew actually asked him were you trying to buy influence. his answer doesn't matter for today's hearing. the question is are these senators going to face questions or possibly congress member or people he donated to questions if he was able to innfluence whn it comes to cryptocurrency >> reporter: frank, he did not have anything before congress to regulate there was no application he had an applic

sam bankman-fried that is.these lawmakers leaning heavily on what john ray had to say, who has rarely minced words. let's play a little more of what he had to say during the testimony. john: literally, there is no record-keeping whatsoever. in the absence of record-keeping, employees would communicate invoicing and expenses on slack, which is a way of communicating for chat rooms. jon: ben, let's bring you into the conversation. the fact that you have the criminal charges last night, the arrest last night and then this morning the action by the sec. can you walk us through what we know about the sec's path towards their point this morning? ben: yeah, that's right. things really started to unspool last night. the attorney general announced they had arrested sam bankman-fried in the bahamas, where he had been living. this was after the u.s. criminal authorities, the manhattan prosecutors effectively, had filed an indictment. we saw that indictment unsealed moments ago with a charges. the sec early this morning in

bankman-fried last week, friday. we obtained a warrant for his arrest and that arrest was executed yesterday in the bahamas. let me be clear, my remarks today are going to be limited. that is by design. this investigation is very much ongoing and it is moving very quickly. but i also want to be clear about something else, while this is our first public announcement it will not be our last. the indictment has eight counts but effectively it outlines four different areas of misconduct. first realize that bankman-fried defrauded customers of ftx.com, the cryptocurrency exchange he founded. second, lender alameda research, is proprietary hedge fund. third we allege he defrauded eninvestors in ftx and lastly we allege that he violated campaign finance laws. now, let me say a little bit more about when we allege in the indictment. first we charged that from 2019 until earlier this year bankman-fried and his coconspirators stole billions of dollars from ftx customers. he used that money for his personal benefit including to

bankman-fried last week, friday. we obtained a warrant for his arrest and that arrest was executed yesterday in the bahamas. let me be clear. my remarks today are going to be limited, that is by design. this investigation is very much ongoing, and it is moving very quickly. but i also want to be clear about something else. while this is our first public announcement, it will not be our last. the indictment has eight counts but effectively it outlines four different areas of misconduct. first, bankman-fried defrauded customers of ftx.com, the cryptocurrency exchange he founded. and alameda research, proprietary hedge fund. defrauded investors in ftx and violated campaign finance laws. now, let me say a little bit more about what we allege in the indictment. first we charged that from 2019 until earlier this year bankman-fried and his co-conspirator stoles billions from ftx customers, used it for personal benefit for investment and cover expenses and debts of his hedge fund, alameda research. secondly and relatedly, ch

bankman-fried is reviewing the charges with his legal team and considering all of his legal options. >> we messed up big. >> reporter: before his arrest, bankman-fried took part in a whirlwind media tour defending himself. >> there are things i would give anything to be able to do over again. i didn't ever try to commit fraud on anyone >> kate rooney joins me now kate, bankman-fried as you noted was arrested in the bahamas what happens next? >> reporter: so, lester, the united states has asked for extradition to new york, but bankman-fried's legal team plans to fight the request. his application for bail has been denied, and he'll remain in a bahamian jail. his next court appearance for arguments over extradition is scheduled for february 8th lester. >> all right, kate rooney, thank you for that. >>> tonight, some promising signs that inflation is cooling prices up just slightly in november from the month before and up 7.1% from a year ago, less than analysts predicted anne thompson has details. >> reporter: if the grinch had a name this year, it would be inflation. >> i'm very hopef

bankman-fried.ep mchenry: can you describe the differences between ftx.com and ftx u.s.? mr. ray: yes. very simply, ftx u.s. was for u.s. citizens who wanted to trade crypto. ftx.com was for -- u.s. citizens were not allowed to trade on that exchange. it is very simple and i would make one other comment which is set them apart from any of those two silos with ledger x, a regulated entity regulated by the cdc separate from the ftx-u.s. silo. rep. mchenry: and that is a distinct company. mr. ray: that is a distinct company within the u.s. silo, yes. rep. mchenry: alameda research and venture capital businesses, what did alameda research do? mr. ray: essentially made crypto investments, engaged in margin trading. took a long and short positions on crypto such that we invested in crypto. but of course, we also invested in over $5 billion of other assets. rep. mchenry: and what with the practice between alameda research and ftx.com? have you established anything you can disclose to us today? mr. ray: in

bankman-fried last week friday. we obtained a warrant for his arrest and that arrest was executed yesterday in the bahamas. let me be clear, my remarks today are going to be limited. that is by design. this investigation is very much ongoing, and it is moving very quickly. but i also want to be clear about something else while this is our first public announcement, it will not be our last the indictment has eight counts but effectively, it outlined four different areas of this conduct. first we realize that bankman-fried defrauded customers of ftx.com, the cryptocurrency exchange he founded. second, he defrauded lenders, his proprietary hedge fund thirst, we allege he defrauded investors in ftx, and he violated campaign finance laws now, let me say a little bit more about what we allege in the indictment first, we charged that from 2019 until earlier this year, bankman-fried and his co-conspirators stole billions of dollars from ftx customers. he used that money for his personal benefit, including to make personal i

at the top, 30-year-old sam bankman-fried.magazine covers, headlining conferences, even testifying before the u.s. congress in the name of crypto transparency. >> one of the really innovative properties of cryptocurrency markets are a 24/7 risk monitoring engines -- >> sam bankman-fried was a new breed of crypto entrepreneur. he drove a toyota corolla. he slept on a bean bag in the office. and he kind of had his wild and crazy hair. i think all those things together just made him a type of character that appealed to kind of a certain demographic. >> reporter: in 2017, bankman-fried created alameda research, a crypto trading firm reportedly using $1 million in savings and loans from friends and family. two years later, he created crypto exchange ftx. but in early november, it all came crashing down. financial site coin desk published a report saying a huge amount of almead de's balance sheet was made up of billions of dollars' worth of cryptocurrency created by ftx. making both companies incredibly unsta unstable. ftx customers

bankman-fried and will give it back.l here today with a line of people who didn't see this coming and they will say they will give the money back or donated to jonathan ferro? annmarie: it's already been happening. you seen a number of lawmakers that have taken money from sam bankman-fried since the collapse of this in early november donating the money back to a number of charitable organizations whether it's $2000 or $12,000, they want to make sure that they say their hands are nina didn't realize this was potentially fraudulent. they want to give the money back. sonali and i have been talking about the other side of this, his deputy, number two, he was giving a ton of money to the other side, to republican so you will have republicans come out that took him his number two who is not getting all the headlines right now and they will probably give that money back. altogether, these two individuals gave more than $16 million. lisa: the larger question is about whether the touch has been overly light when it comes to the s

attorney bringing charges against sam bankman-fried.rlie gasparino. >> alameda was the hedge fund. ftx was the crypto exchange. what is interesting about this whole thing, if you listen to sam bankman-fried during his media tour, which i think they were really too softballish, but that is a whole other conversation, howie kurtz at some point but, he seemed to blame everything on the people running alameda, not him running ftx. even though he ownses 90% of alameda he wasn't running it and should have been running it. he seems to point the finger his ex-girlfriend, the woman who lived with him caroline ellison, ceo of alameda even though sam owns 90% of it. what we understand, what we understand, what a lot of white-collar attorneys are saying to me today, saying to my producer as they're reading the indictment, as they're doing more research, listening to our reporting, if you reed the indictment closely there is cooperator. the cooperator they're pointing to is caroline ellison. you have to read tea leaves on this thing. some of the stu

who is sam bankman-fried? is considered as bengali, and i was wearing shorts in prison. >> yeah, sam bankman-fried was sort of the epitome of a good guy crypto. this is an industry that many saves for, scammers and to some extent, is here's a guy want to make it more ethical, shiny, or he built a better exchange, supposedly, they're supposed to take crypto trading and making a battle for wall street. that appealed also to d. c., and many people across the u. s.. the willis of crypto on wall street, and as we know that is basically a sham. >> we're not, oh it's one thing if crypto goes down. . , wagner gotta, they're trying, dramatic. the, point dan lopez made a career, as an activist investor. none of these backers, spent one minute of time doing due diligence, and no one note of sleet and even have an accounting department? the new ceo have said this is old school embezzlements. aren't these backers gonna be liable for something, i could've sworn they were noticed fiduciary's. >> i think this is gonna spawn a

ellison is the ceo which is sam bankman-fried. he has been out there implying that caroline ellison and those at alameda knew about this while he didn't. the pace and the velocity in which they were able to bring charges suggest there was a whistle-blower internally. we don't know who it is yet. that is the expectation, that somebody has sort of sped this up by providing more information than they might have gotten otherwise. >> there isn't anyone in compliance with this they are all up. everybody watching gets a great opportunity. >> to do what? >> to get their money back before the other eople. >> you said never too late >> no. get your money out ahead of the other guy. they said you're all safe here safe is a relative term. today they might be safe tomorrow maybe not as safe you have a chance the get out. now. >> talk soon, kate >>> still to come, boeing's dave calhoun on one of the largest orders in recent years take a look at futures here. obviously green. dollar below $1.04 back to june time magazine names "the fabelmans" th

ray did not comment on bankman-fried's public statements and they did obtain a copy of bankman-friedtly, he began by saying simply, "i f-ed up ". >> that does appear to be what the testimony suggested he would say. thank you for that it may be an understatement. for more on sam bankman-fried we are joined the senior policy adviser for solomon cromwell which i do want to mention is working with ftx on the b bankruptcy >> that's right, andrew. >> the criminal charges, we have not seen them thus far we believe from sources that we talk to, wire fraud, security fraud and money launder. if you look at the complaint this morning it goes to jurisdiction and regulation and all of is quite narrow and seems to focus on investors in ftx and not the actual customers of ftx. is that almost a symbol of the problem here >> exactly right, andrew as we talked about before, what you have in the complaint is a securities transaction it was alleged lead frauj lentz and that securities transaction is the sale of interest of ftx inside the united states and what you are opening to is the fact that the tra

as for the question, laura, about what would sam bankman bankman-fried have told congress if he had been to testify the, miraculously, journalists found out. somebody leaked to reporters his opening statement, and it taliban with if-ed up -- it began with i f-ed up. so it would have been more of the same, i think. >> well, and also, howie, we just five days ago got the ftc charges brought against sam bankman-fried, and he was on a pr blitz in between that time. and i think the sec and probably this was by design so they didn't have him testify before congress under oath but not urn oath in front of the media. and they gave him enough rope so that their case is stronger. so you can see -- but i would say before we judge the timing of all of this, you better have receipts, and we have to see how these charges are laid out. right now the sec is building a d -- looking like they're building an airtight case here, and you've got to respect what they did to get there. howard: receipts? the guy that came in to clean it up says there were barely any records at all. >>> when we come back, elon mu

and bankman-fried is in the bahamas.e'll wait to see how soon he appears in a court in new york. >> you've been following the hearing, the court is in a break, what has happened so far? >> victor, the court is in recess until 2:00. a bit -- 15 minutes after 2:00. that's when we're told a judge here in nassau could decide whether sbf is given a bond, pending extradition back to the u.s. the magistrate here in the bahamas said she expressed reservation about whether or not and allow sbf to post bond, in large part, because she said in her experience on the bench, she's had a number of individual folks who left the bahamas after posting bond, no matter the amount. the 30-year-old has been in court for much of the day. he's been sitting in the front row of this courtroom behind me, really showing no emotions throughout this hearing, either staring at the floor and occasionally looking over at his defense attorneys. earlier in the day, he was asked if he would waive he right to extradition. he said he was not going to do so.

kate, bankman-fried as you noted was arrested in the bahamas. what happens next? >> reporter: so, lester, the united states has asked for extradition to new york but bankman-fried's legal team plans to fight the request. his application for bail has been denied, and he'll remain in a bahamian jail. his next court appearance for arguments over extradition is scheduled for february 8th. lester. >> all right, kate rooney, thank you for that. >>> tonight promising signs that inflation is cooling. prices up just slightly in november from the month before and up 7.1% from a year ago, less than analysts predicted. anne thompson has details. >> reporter: if the grinch had a name this year, it would be inflation. >> i'm very hopeful that this is not the new normal. >> reporter: kimmy and matt smith have a long christmas list. at the top their children, kennedy and easton. >> it's trying to find the best deal right now and trying to find the best price. >> reporter: to get the most out of the season of high prices they started planning in the summer. >> turn it this way. >>

. >> a judge has denied bail for ftx founder sam bankman-fried. what's next for the disgraced what's next for the disgraced businessman? meet leon the third... leon the second... and leon... the first of them all. three generations, who all bank differently with chase. leon's saving up for his first set of wheels... nice try. really? this leon's paying for his paint job on the spot... and this leon, as a chase private client, he's in the south of france, taking out cash with no atm fees. that's because this family of leons has chase. actually, it's león. ooh la la! one bank for now. for later. for life. chase. make more of what's yours. >> sam bankman-fried, the founder and ceo of collapsed cryptocurrency exchange ftx. he's facing charges after being arrested in the bahamas. a judge has denied bail and his arrest came just hours before he was set to testify virtually and front of congressional lawmakers. kron four's washington correspondent trevor shirley. he's in dc with more. >> sam bankman-fried was also a prolific political donor. but now lawm

charges have been filed against sam bankman-fried.president of the european parliament have been stripped of her role after a vote. eva kaili denies taking bribes from qatar in return for influence and in return for defending the government in doha. today there was an emergency debate. this is some of it. >> to anyone, accepting payoffs, kickbacks, bribes, i say shame on you. [applause] shame on you for violating trust, the trust of the people of europe who expect you to fight for their interest, not your own. ross: here is some more on what we know. four suspects have been charged. e.u. as a young -- eva kaili is the only one who has been named. her lawyer says she is innocent. here is she -- here is eva kaili speaking. >> qatar is a front runner and labor rights and raising minimum wage. despite the challenges that european companies are denying. ross: that speech proved to controversial, not only the european parliament but also in her party as well. this was the reaction from the party spokesperson. >> no one could imagine that be

police in the bahamas have arrested the former ceo of the cryptocurrency exchange ftx, sam bankman—fried also known as �*sbf�*. that's after the bahamas received formal notification from the united states of criminal charges against him in connection with the collapse of ftx in november. it's now likely the united states will request his extradition. our correspondent david willis has been following these developments from los angeles. the attorney general in the bahamas, a man called ryan pinder, has issued a statement a short while ago in which he talks about the arrest of sam bankman—fried, and he says it follows receipt of formal notification as he puts it from the united states, that it, the us, has filed criminal charges against sbf and is likely to request his extradition, and that statement goes on to say "as a result of the notification received on the us and the material provided therewith, it was deemed appropriate for the attorney general to seek sbf�*s arrest." now this is a sealed indictment from prosecutors in new york, the details of which have not been made publicly avai

these are the charges against sam bankman-fried. they run the gamut from wire fraud and conspiracy, commodities fraud and the campaign finance law one. what did you think of yesterday's hearing when the new ceo took to the stand in order to give testimony to you yesterday? >> i think what was very telling over the course of hours was how you could be utilizing your time to probe for important information for the public to know more about what took place. this is an incomplete day yesterday because after john ray was to testify for hours we were supposed to have sam bankman-fried testifying via zoom to answer questions. yesterday sam bankman-fried's testimony was released publicly and having a hearing where you are going back and forth with sam bankman-fried presents the opportunity to ask the follow-up questions. while i believe that sam bankman-fried did commit crimes and that he should be arrested and should go to prison for a very long time, that's my personal opinion, i do think that the timing was quite questionable that it was

former ftxceo sam bankman-fried was arrested monday in the bahamas. he was scheduled to testify before a house committee today. that did not happen. correspondent david spunt has the latest information tonight on all of this. good evening, david. >> good evening, bret. sam bankman freidman left the bahamaian courthouse about five minutes ago. on his way to a local job in nassau. he will stay in the custody of the bahamian government until at least february 8th. a judge ruled within the last hour that bankman-fried's bail request is denied because the judge believes he is a flight risk. j this is one of the biggest financial frauds in american history. >> sam bankman-fried the former billionaire and founder of ftx crypto currency exchange knowingly defrauded customers out of billions of dollars in an effort to line his own pockets. >> this case is about fraud. fraud is fraud. it does not matter the complexity of the investment scheme. >> realizing he defrauded investors. >> while prosecutors made their investment in new york. bankman-fried remained in

we have the latest with sam bankman-fried. >>> also from bad to worse. the storm canceling flights across the country. what to do if your flight gets canceled? >>> plus, a bay area student spreading holiday cheer with a new viral christmas performance. >> i feel it coming into my body. i just want to dance. >> his dancing catching attention from the 49ers and an oscar-winning actress. >>> and we say goodbye to a vallejo legend who is leaving nbc. >>> good evening. this is nbc bay area news tonight. i'm raj mathai. happy friday to you as we kick off this christmas weekend. let's get you caught up on some of the headlines that we are watching, and there is plenty going on. more than a month after election day, the recount results are in. two tight city council races in contra costa county. a manual recount of those two races wrapped up late today. the recount confirmed tamisha torres-walker is the winner in antioch's district 1 city council race. it also determined the richmond city council race that initially ended in a tie. remember that story? that prom

a wave of civil complaints. >> bankman-fried and his co-conspirators stole billions of dollars fromnal benefit. >> reporter: bankman-fried arrested in the bahamas faces eight criminal charges in the u.s. authorities alleging he defrauded investors by funneling money into the hedge fund behind their backs. as a result, they say $8 billion have gone missing. >> this committee will not stop until we uncover the full truth behind the collapse of ftx. >> reporter: in washington, a congressional hearing on ftx's collapse following what amounted to a run on the bank last month. bankman-fried who was expected to testify was instead making his first court appearance in the bahamas. >> there's no corporate controls, no corporate oversight. >> reporter: ftx's new ceo john ray led energy giant enron through bankruptcy after its collapse. appearing before congress he ripped into bankman-fried's management. >> this is just taking money from customers and using it for your own purpose. not sophisticated at all. this is just plain old embezzlement. >> reporter: its peak ftx had 2.7 million in the u

police in the bahamas have arrested the former ceo of the cryptocurrency exchange ftx, sam bankman—fried's also known as sbf. that's after the bahamas received formal notification from the united states of criminal charges against him in connection with the collapse of ftx in november. it's now likely the united states will request his extradition. david willis, our north america correspondent, is with us. what do we need to know about this? ~ ., , , ., this? the attorney general in the bahamas, _ this? the attorney general in the bahamas, has— this? the attorney general in the bahamas, has issued - this? the attorney general in the bahamas, has issued a i the bahamas, has issued a statement a short while ago in which he talks about the arrest of sam bankman—fried, he says it follows receipt of formal notification as puts it from the united states, that it, the us has filed criminal charges against sam bankman—fried and is likely to request his extradition, the statement goes on to say as a result of the notification received on the us and the material prior bided there whether it was de

a source close to the team says sam bankman-fried is wheels down flying commercial.ting guidance >> we know two of sam bankman-fried's associates, gary wang and caroline ellison, are now cooperating with federal prosecutors after pleading guilty to felonies what about some of sbf's other lieutenants? will we see indictments for his associates within ftx? >> reporter: you have three other players in the empire to look out for ryan salame. he went to regulators two days before the bankruptcy. he said that the only three people who had the authority to sign off on possible fraud lend transfers from ftx to the hedge fund at alameda. sam trabucco had been leading alameda before resigning in august he has been quiet on twitter last time we saw a post was november 8th as the empire was unwinding saying the past few days had been dark it is unclear if any back channelling is happening >> then finally, mac, does sam bankman-fried have room to cooperate with prosecutors >> reporter: now sam bankman-fried is back on u.s. soil, he doesn't have leverage unless he has intel on oth

but then get back to the the reality of sam bankman-fried.der that not all the news is good, and for people who were helping him out early on, not good at all. >> this is a simple case, in my mind, of where did the money go? s costing more. if you're a veteran homeowner and need cash, call newday and use your powerful va home loan benefit. it lets you borrow up to 100% of your home's value, not just 80%. and with home values near record highs, you could have a lot more cash than you think. at newday, you could take out an average of $60,000 to pay down high rate credit cards, consolidate personal loans, and car loans. call now. ♪ ♪ >> i entered into an agreement with ftx to be a paid spokesperson. i was paid approximately $15 million for these services plus approximately $3 million to cover taxes. of the remaining amount as, approximately $1 million was invested in ftx equity and approximately $10 million in tokens held in ftx wallets. the equity now is most likely worthless. neil: all right, kevin can o'leary testifying on capitol hill, he p

bankman-fried previously claimed he was down $200,000.udge seems to have implied that from the courts, sam bankman-fried presents no danger for future financial crimes, as he is awaiting more details on the actual trial itself. what more do we know about how this process might play out? >> he will be able to travel home, be there for some degree of comfort, and that is input up. he will be considered under house arrest. he will have to wear an electronic monitoring bracelet. he will get that bracelet before leaving the courthouse in manhattan. this is a very different -- from the life of luxury he had in the bahamas, so i think he is probably a bit relieved to be back on stateside given the condition he was in imprison. >> do we have a sense of how we may plead? >> yes. it will be interesting to see if you will make the deal. his former coworkers did. the ceo, caroline olson, and former ftx ceo barry wang, they both pled guilty. they are working with authorities. that might up the pressure on sam bankman-fried to take a similar deal and a

sam bankman-fried is up on seven or eight counts of security fraud.s talking about over 100 years in prison. it's to his advantage to plead now and plead and hope to get a good plea in the government. >> neil: last time i had you here, i was liking to it the ponzi scheme that bernie madoff was famous for. he did through the trial get to stay out of jail, stay in his apartment in new york, i believe, at the time. in this case, sam bankman-fried has the same right to be at home, his parent's home. we don't know where that will be. but should he worry? to your point, this could be a short-lived freedom. >> yes. i think the government given how quickly they're moving, given the plea bargains they're getting, they i think want to make an example of bankman-fried. they won't go away. madoff got a long sentence. i think over 100 years. he died in prison. so bankman-fried has to be worried that the government wants to make a symbol out of him, too. he should hope to plead quickly and get a reduced plea. maybe mental illness. maybe plead he didn't understand w

thank you sam bankman-fried and ft xcellous. bear market, crypto has been a big word the fed funds, nobody knows about this until they have to. we're going to final out a lot about that today the others are fascinating capitulation, never quite got it gilts, we got that from the uk government that shows you where investors' mind-set was throughout the tumultuous year of 2022. >> caleb, i can't -- i understand -- poison pill number one? well, at least, caleb, we've got gilts in there that's going to be my wordle starting word. i'll let you know how it goes. caleb silver, great to see you, my man thank you very much. >> thank you. >>> all right. don't start with gilts start with xerox it works every day, trust me. >>> on deck, our relationship with china growing worse as trade tensions continue to rise. we'll tell you about it coming up next right here on w.e.x. dow futures up a touch we're back right after this. let's be honest. the rent-a-car industry is the definition of boring. and the reason can be found in the name itself. r

they're being put up by school security in anticipation of bankman-fried moving back home. this is not a happy homecoming, as part of a bail deal reached today, bankman-fried has to stay in his parents' home as he awaits trial on multiple counts on investor fraud. he also had to post a $250 million bond, the largest in u.s. history. >> if you look up privilege in the stanford dictionary, i believe today, there's a picture of sam bankman-fried. >> reporter: and those watching the case say the new barricades and other measures are not just to keep the press away. >> sam bankman-fried was involved in the crypto space. let's be very, very honest and very transparent. there are some bad dudes in the crypto space, and if i lived anywhere near sam bankman-fried's parents, i would get some cameras. >> reporter: as for those who hang out near stanford, they're not too happy to hear bankman-fried is headed home. >> grifters are going to grift, you know? he's coming here, there's lots of money here. he's going to come here and probably try to get more money to help whatever sad defens

first of all, where is sam bankman-fried tonight?th's a really good question, he was arrested on monday night when he had a bail today in the bahamas and now we've just learned that the bohemian judges have denied his bail request, and he is going to now be in custody by bohemian authorities until february of next year. the next step is to work out that extradition streak, when is he going to come to the united states? and has not waived his right for that hearing, which means the hearing can take place, but in terms of when the timing happen that's still a bit unclear. how long that could take for him to actually get into the united states is also very much unclear. a lot of this stuff is just unfolding and really just happening now, but considering the fact that he is going to be in bohemian jail, and pretty sure he's going to want to come back to the united states as fast as possible. laura: you are there in washington, how do lawmakers react in that hearing? they were expecting to see sam bankman-fried and then he was arrested, s

sam bankman-fried is facing criminal charges.lions of dollars remain unaccounted for in the case casting a shadow over the entire crypto industry. >> reporter: sam bankman-fried, the failed ceo of ftx, is charged with filling billions of dollars . think you use that money for his personal benefit. >> reporter: in addition, prosecutors alleged the 30-year-old made tens of millions of dollars in illegal campaign contributions. >> all of this dirty money was used in service of bankman-fried's to buy influence. >> reporter: bankman-fried is also in hot water with the security and exchange commission. the s.e.c. accused of the ftx member of defrauding investors in part to buy real estate for himself and his family. >> bankman-fried raised more than $1.4 billion from equity investors on the basis of lies. >> reporter: he was scheduled to appear before a house committee today and answer questions under oath about the failure of his company. the shockwaves it's into the digital currency . >> the timing tonight the public the opportunity

sam bankman-fried extradited from the bahamas as his former colleagues plead guilty to criminal charges and we'll fill you in on the crypto fallout chips take a dive. micron falling after that disappointing quarterly result we will break down the landscape in semis, john man, what a turn today >> indeed. let's start with the semis at the core of today's sell-off the smh down 4.5%. micron following this morning and not as much as a lot of the others after it missed on the top and bottom lines lower than expected guidance. it also announced a restructuring plan for 2023. that includes reducing head count by 10%, suspending bonuses company-wide and sanjay placing the blame on lower demand in most markets and customers bloated, yes, inventories. micron not even the worst performer and lam research down 9% applied materials and nvidia, kla down sharply, as well. carl, this in a way isn't a surprise and we've been talking about inventory for weeks, month, even because you have the oversupply situation developing and questions about demand not just from consumer and increasingly as enterprise

as well this morning, which said bankman-fried committed, quote, a massive years-long fraud diverting billions of dollars of customer funds for his own personal benefit and say he call a house a foundation of deception. we heardbankman-fried's lawyers, saying he is reviewing the charges and considering all legal options. rueters is reporting that he may fight bahamas extradition. he's leaving the courthouse in nassau sometime this afternoon >> hoping we might get some images of that as well what do you make of it being on the eve of this hearing and maybe fighting extradition >> the timing was such as pentagon officials to a lot of people lawmakers came out last night with statements. maxine waters said that the american people wanted to hear from him, it was really an opportunity to hear from him under oath, and lawmakers -- and he's been mentioned all day in the current hearing still going on with the current ceo of ftx, john ray, legal experptts i've talked to say one of the reasons he may not be testifying because they wanted to avoid what they call poisoning the jury, the idea if

bankman-fried touching down on u.s. soil. bankman-fry's mother was seen arriving to court.ounder will enter a plea on eight criminal charges and we'll find out whether they're granting bankman-fried bail bankman-fry's crypto empire was released on bail after cutting deals. gary wang and one of the co-founders of ftx pleaded guilty to criminal charges that they helped orchestrate a years-long fraud with ftx. they are cooperating with ongoing federal investigations into the collapse of the exchange and sam bankman-fried the charges were released last night at the same time that bankman-fried was en route from the bahamas to new york where he faces changes from the same prosecutors working with ellison and wang wang created a software back door in ftx's back door which allowed alameda to divert customer funds wang and ellison's plea deals did not stop them from pursuing them for tax violations. it might seem like a small carveout and it could be a way for prosecutors to keep things open if further evidence emerges. david, back to you >> mackenzie, thank you. >> let's continue

that's what sam bankman-fridays.painting yourself as an innocent party when you abscond to the bahamas with billions of dollars which is what he has done. what we are seeing is the gears of justice turning, they will grind down sam bankman-fried regardless of his millions in campaign contributions to the democratic party. hopefully justice prevails and he blamed the lawyers but at the end of the day, sam bankman-fridays in handcuffs. stuart: you are confident we will find out what happened and where the money went you are confident we will get to the bottom of it eventually. >> you saw how quickly this indictment was announced, very fast when it comes to security exchange approaches and likely his ex-girlfriend, the person who ran the slush fund alameda is dropping the dime on sam bankman-fried. stuart: net choice, good stuff, thanks for being with us, see you again soon. the chairman of the sec, gary gensler, updated his public calendar to leave out mentions of high profile meetings. who did he leave out? lauren: so

. >> disgraced ftx co-founder sam bankman-fried is returning to his roots. the details now emerging about where he will be confined and the record-breaking bond for his release. >>> calls for unity in the coming year as u.s. lawmakers work overtime to pass a funding bill. the work being done ahead of a make or break deadline. >>> meteorologist kari hall is tracking conditions and when you may need the umbrella. this is "today in the bay" streaming live on roku, amazon fire, apple tv and online. the weekend is upon us. i'm marcus washington. >> and i'm ginger conejero saab in for laura garcia. we've been talking about the holiday shopping. maybe this will help with your holiday shopping, a mega millions jackpot. tonight's draw is generating a lot of excitement. whoever gets it will have some nice help. ahead we'll count the hundreds of millions of reasons why. >>> something for free for you this morning, that forecast. meteorologist kari hall is tracking it for us. >>> we're starting out with light, patchy fog. a look outside in san francisco there is a spare

sam bankman-fried due in court today.hearing his lawyers tackle the issue of extradition to the united states. >>> let's get a look at the trading day is shaping up after stocks extend the losing streak yesterday. futures are mixed. s&p in the red it looks like implied open down five points. dow jones industrial average is up 8 you have the nasdaq down 26 points joining me now is john stoltzfus and jenny gilman john, we got the breaking news from the bank of japan that will tweak the cap on its yields for the 10-year. can you explain why we were seeing global bond yields spike after that announcement? >> hi, contessa. thanks for having me on the show this morning i have to say what you have seen around the world is central banks tightening and the outliar is the bank of japan the process of moving with the others really simply means that it is now all the majors in the process of hiking rates. ulti ultimately, it is a positive thing because it is the end of free money free money raises speculation. high leverage. momentum

sam bankman-fried headed back to the bay area. we'll take you to his neighborhood at stanford, now barricaded with security. >>> plus, how are the bay area airports holding up? a potential meltdown because of the national weather. >>> also, should you mask up for a covid test before meeting up with friends and relatives? >>> and you want to live and work in this lighthouse? $140,000 a year plus room and board. >>> good evening. this is nbc bay area news tonight. i'm raj mathai. we're going to get to all of those stories in just a minute. but we want to start with some local headlines we are watching on this thursday. an accused drug dealer known as madman to high schoolers is now facing a host of charges connected to a series of overdoses in the south bay. prosecutors say 23-year-old simon armendariz was selling fentanyl-laced pills and targeting students at los gatos high school. that includes to a 15-year-old who nearly died of an overdose. according to the district attorney's office, the teenagers who bought the drugs from him

sam bankman-fried will appear in the second panel.rms of the structure we will kick off at 10:00 a.m. in washington on tuesday. the first panel should last sometime around 1:00 p.m., the second will start 90 minutes later. the timing is fluid because you need to keep in mind that there are no hard stops in the hearing. we don't know how long how short the questions will be going. haidi: we have a sense of what the ceo will say? anabelle: we have prepared comments, released by the house financial services committee. it echoes what we have heard from the ceo in the past. he has been critical of sam bankman-fried and the operations at ftx. this is a seven-page statement. this is a quote we can see. he's saying that this is the product of power that was concentrated in the hands of a very small groups of people, that didn't have much experience, know-how, sophisticated trading practices. what we have heard from sam bankman-fried, he has given some light on what he plans to discuss, focused on the u.s. division, the pathways that could hel

caroline ellison and bankman-fried's parents.ents, both stanford law professors, were entangled ahead of the collapse, that joseph bankman would frequently accompany sam bankman-fried to capitol hill meetings. the parents have not been named in any criminal on civil cases they've brought against their son. the security and exchange commission does allege that bankman-fried used customers dollars to buy property in the bah ma'am h-- bahamas, not only for himself, but for his parents. >> we're investigating tas well as any other players and we indicated that mr. bankman had been giving advice. >> had he been an employee? >> i don't know if he had an employee status, but certainly receive payments from-- the family did receive payments. >> bankman-fried's former girlfriend has become a centerpiece of that, a former ceo of alameda research, which federal prosecutors say misappropriated funds and had access to $8 billion belonging to ftx customers and money that's allegedly missing. there's a lot of thought or people wondering whether

a judge in the bahamas has denied bail for sam bankman-fried.et's get more with joe and subject. -- joanna passenger. -- hearing from the new ftx ceo that this was plain and simple embezzlement. we got the charges. walk us through them. what did we learn yesterday? >> we got the charges including wire fraud, conspiracy to commit securities fraud. we also got that it looks like sam bankman-fried may be contesting the extradition from comments he made before about trying to help out etc., people might have thought that he would go along with things it looks like he may contest that. we'll see how long it takes for the u.s. to get this done. and what role the bahamas may have in. but a lot of these charges to go with what people have been looking at in terms of the relationship between ftx and alameda and what may have been done with consumer funds. there is a lot of drama here and likely more to come. dani: in terms of the overall crypto universe, it seems like we are not totally done worrying about contagion risk. finance is on the defense trying