~ bankman-fried now? we will find out exactly _ bankman-fried now? find out exactly what his sentences . out exactly what his sentences on march 28, that's the date the judge sent to the sentencing hearing, but he faces decades in prison and potentially a life sentence. as been found guilty on all seven charges and together they cover 110 years in prison. even if thejudge sentences 110 years in prison. even if the judge sentences below the maximum which we expect him to do it will still amount to a life sentence. he do it will still amount to a life sentence.— do it will still amount to a life sentence. . ~ ., life sentence. he talked about the crypto _ life sentence. he talked about the crypto currency _ life sentence. he talked about the crypto currency industry i the crypto currency industry and the message the prosecutors have for the industry. what impact do you think his downfall has had on the industry?— downfall has had on the indust ? ., ., ., industry? he rode the wave of c to industry? he rode the wave of crypto when — industry? he rode th

sam bankman—fried now faces decades in prison.bankman—fried's apparent success belied a pyramid of deceit. they said he used stolen money to prop up the investment fund he funded and purchase real estate and fund his lavish lifestyle. three of sam bankman—fried's close friends and business partners including his ex—girlfriend pleaded guilty to financial crimes and testified against him. financial crimes and testified against him-— financial crimes and testified against him. financial crimes and testified auainst him. ~ ., ., ., financial crimes and testified auainsthim. ., ., ., against him. what you have to say to sam? sam bankman-fried _ against him. what you have to say to sam? sam bankman-fried pleaded i against him. what you have to say to i sam? sam bankman-fried pleaded not uuil to all sam? sam bankman-fried pleaded not guilty to all charges _ sam? sam bankman-fried pleaded not guilty to all charges and _ sam? sam bankman-fried pleaded not guilty to all charges and took— sam? sam bankman-fried pleaded not guilty to all char

sam bankman-fried found guilty on all counts of fraud and conspiracy. we have bertha coombs here with the details. bertha, happy friday. >> good morning, frank. federal jury returned the verdict after 7:30 last night. four hours after they began delibe deliberations. the 31-year-old was accused of mismanaging customer funds stored at his crypto exchange ftx and charged with seven counts of wire fraud, securities fraud and money laundering which left thousands of customers practically wiped out. in a statement, defense attorney mark cohen says that quote, mr. sam bankman-fried maintains innocence and will continue to vigorously fight the charges against him. prosecutors spoke to the media following saying sam bankman-fried portrayed one of the biggest frauds in american history. >> the cryptocurrency industry might be new and players like sam bankman-fried might be new, but this kind of fraud and this corruption is as old as time and we have no patience for it. >> frank, sam bankman-fried faces up to 110 years in prison. his sentencing is scheduled for m

sam bankman-fried - on the industry? sam bankman-fried road | on the industry?e on the industry? (an bankman—fried road at the wave of crypto when times were good, in 2021 crypto was at its height so was sam bankman—fried, then his stunning fall in 2022 centred jill to the industry. we have seen investment and venture capital down, we have seen not only mr bankman—fried's own fall from grace we have seen that his customers, thousands of customers, lost billions of dollars in ftx's collapse and they remain at the heart of this case will one more question, what has happened to ftx itself? fg x is in bankruptcy proceedings within interim ceo being place, trying to recover assets to try to figure out how much can be recovered and paid back out to customers, investors, and lenders, but that is a long process and we don't know yet who will be able to see what kinds of returns or come close to being made whole. shill kinds of returns or come close to being made whole. all right, north america _ to being made whole. all right, north america business - north america busi

same bankman-fried's verdict is returned.und guilty after that month long trial. let's take a look at the other big story, a disappointment when it comes to apple but also some of the areas of weakness have been flagged. are we seeing that reaction across asian apple suppliers? >> so far, these are some of the biggest suppliers into apple. in line with how asian stocks are trending in the session today. at this point, every sector is in the green. a lot of the areas for apple in terms of things like their macs and ipads, weakness. better weakness incoming -- coming through in areas like services. that's more of a newer sector for the company. but the focus at the headline level still on the slowdown in china. could be currency applications that are playing into that. the warning around revenue in the holiday quarter will be the same as last year. the devil seems to be in the details for the apple reporting this time around. shery: let's get more on reports with su keenan. china, india where a big focus during the call. >> for

meanwhile bankman-fried's _ widespread fraud. meanwhile bankman-fried's lawyer - widespread fraud.aud. meanwhile i bankman-fried's lawyer said we bankman—fried's lawyer said we respect the jury's decision that we are very disappointed with the result. mr bankman—fried remains —— maintains his innocence and will vigorously fight the charges against him. elizabeth lopatto is a senior reporter at the tech industry news site, the verge. she has been in court for the past month, covering the sam bankman—fried trial. elizabeth, somebody who has been there every day, what are your thoughts now that it's all over? i your thoughts now that it's all over? .., �* , your thoughts now that it's all over? �* �* over? i can't say i'm surprised. _ over? i can't say i'm surprised. it - over? i can't say i'm surprised. it was - over? i can't say i'ml surprised. it was very over? i can't say i'm - surprised. it was very obvious from the opening statements that the prosecution had a pretty strong case and that the defence didn't have a lot to work with. and one of the things that kept happening throug

what's next for sam bankman-fried surrounded israeli forces say they've encircled gaza city, some of the fiercest fighting yet. >> and now secretary of state antony blinken in israel. as the biden administration pushes for a pause in fighting here at home, protesters blocking highways. what to expect today? >> the disaster in a suburban neighborhood. a massive explosion levels a row of homes. what we're learning about the victims. plus former president trump's daughter, ivanka loses a battle in court over testimony in a fraud case. the utah mother who wrote a book on grief now charged with murdering her husband. her family speaks out. how they're defending her. the clocks go back this weekend. >> most americans oppose changing the clock. so we ask, why hasn't anything been done about it? >> and remembering an apollo astronaut who orbited the moon. what he said about the beauty of space as. york, this is america this morning. >> good friday morning, everyone. i'm andrea fujii in for rhiannon. >> and i'm lionel moise in for andrew. we begin this morning with one of the biggest financia

sam bankman-fried rode the wave _ the industry? sam bankman-fried rode the wave of _ the industry?crypto when - rode the wave of crypto when times were good. and 2021, when crypto was satisfied so was sam bankman—fried but his stunning fold 2022 sent a chill through the industry. crypto prices down, venture capital investment down, and we have seen not only mr bankman—fried's own fall from grace here, but also his customers, thousands of customers, thousands of customers lost billions of dollars in ftx's collapse. they remain at _ dollars in ftx's collapse. they remain at the _ dollars in ftx's collapse. they remain at the heart _ dollars in ftx's collapse. they remain at the heart of- dollars in ftx's collapse. they remain at the heart of the - remain at the heart of the case. what hasn't happened to ftx itself? case. what hasn't happened to ml itself?— ftx itself? ftx is in bankruptcy - ftx itself? ftx is in - bankruptcy proceedings with ftx itself? ftx is in _ bankruptcy proceedings with an interim ceo being placed, trying to recover assets here to find out whom how much can be

bankman-fried now facing 115 years in prison. bankman-fried started a crypto exchange, courted celebrities and politicians, and became a billionaire. he's 31, and now he's just been found guilty on all seven counts of fraud. >> that verdict was handed down in a new york city courtroom just about an hour ago, but this was a case watched extremely closely here in the bay area. bankman-fried's parents are stanford legal scholars, professors there on campus. just prior to his trial, sbf, sam bankman-fried, was hold up inside his parents' home in professor housing. the government's key witnesses in the case included sbf's coworkers and the cofounder of his company, all who cut deals and testified against sam bankman-fried. >> scott budman has been tracking the case since the beginning. didn't take the jurors very long to come up with that verdict, and the, you know, the testimony was so strong, and people like carolyn ellison, who was the head of alameda research and at one point bankman-fried's girlfriend. >> yeah, they seemed very e

red hot crypto rebound calls as bankman-fried is found guilty. that, the tension of the trial, play out in the markets that you are focused on? nic: i don't necessarily see a strong connection between the outcome of the trial and price action. i mean, ultimately, virtually everyone thought this would be the outcome. i think it's clear over the prior few months that sam did not have much of a defense and, frankly, it was obvious if you followed any of the books written about ftx that he did not have much of a case here. i mean, his defense that he mounted in the initial weeks after the insolvency, after the bankruptcy, was pretty weak. they siphoned the funds and the margin trading excuse did not really make sense. so from what i can tell, it seems like everyone expected this outcome. some people thought there might have been a hung jury or small likelihood he weaseled his way out of it, but ultimately it was forecastable. caroline: you mentioned how no one was left unscathed in the industry and i bring up a post coming from alfred lynn of sequoia

bankman—fried now faces decades in prison.f testimony, prosecutors told jurors that the 31—year—old bankman—fried's apparent success belied a pyramid of deceit. they said he used stolen money to prop up the investment fund he funded —— founded, and to purchase real estate and to fund his lavish lifestyle. three of bankman—fried close friends and business partners, including his ex—girlfriend, pleaded guilty to financial crimes and testified against him.- guilty to financial crimes and testified against him. what you have to say _ testified against him. what you have to say to _ testified against him. what you have to say to sam? _ have to say to sam? bankman—fried pleaded not guilty to all charges and take a stand in his own defence, to no avail. ., no avail. the government when this case by _ no avail. the government when this case by putting _ no avail. the government when this case by putting a _ no avail. the government when this case by putting a lot - no avail. the government when this case by putting a lot of- this case

bankman—fried now faces decades in prison. of testimony, prosecutors told jurors that the 31 —year—old bankman—fried apparent success belied a pyramid of deceit. they said he used stolen money to prop up the investment fund he founded and to purchase real estate and to fund his lavish lifestyle. three of bankman—fried close friends and business partners, including his ex—girlfriend, pleaded guilty to financial crimes and testified against him. what do you have to say to sam? bankman—fried pleaded not guilty to all charges and took the stand in his own defense to no avail. the government won this case by putting a lot of pressure on cooperators, getting deals with them very early on and trying this case in a very streamlined way, instead of overcomplicating the case, turning it into some complicated crypto case. they tried it as a garden variety fraud in a very streamlined manner, and i think that ultimately led to the conviction here. that's this extraordinary fall from grace may be more than just personal. sam bankman—fried's

bankman-fried could face a possible 110 years. now if prosecutors move forward, bankman-fried could also face a second trial with another set of charges. sbf's attorney says his client maintains his innocence. live in the south bay, lauren martinez, abc seven news. >> lauren, thank you. we sent out a breaking news alert as soon as the guilty verdict came out. make sure you're staying in the know with these news events and weather updates with the abc7 news bay area app, you can customize it to your neighborhood and your interests. just be sure to enable the apps notifications feature. happening tomorrow, president biden and the first lady will travel to lewiston, maine to visit with families devastated by the mass shooting there. that left 18 people dead. a vigil was held in the town tonight, just over a week since the shooting and days after students returned to school this week. meanwhile maine's governor is putting together an independent commission to look into the police response and the numerous red flags about the gunman th

that's how a new york prosecutor described the actions of sam bankman—fried — the former cryptocurrencywho has been convicted of defrauding investors out of $8 billion. prosecutors said he had used money stolen from his cryptocurreny exchange ftx to prop up his investment alameda to fund his lavish lifestyle. late on thursday, a jury found him guilty of all seven counts of fraud and conspiracy. as the bbc�*s erin delmore explains, the collapse of ftx and the crimes of bankman fried are posing all kinds of uncomfortable questions for the crypto industry. after more than four weeks in court, thenjust 4.5 hour top deliberations, a jury convicted sam bankman—fried of fraud and conspiracy charges, likely dealing him are lifetime prison sentence. a warning was given at all would—be fraudsters that could be hurt as the particular warning for other fraudsters operating in the crypto sector. it fraudsters operating in the crypto sector. , ., fraudsters operating in the crypto sector. , . . fraudsters operating in the crypto sector. , ., ., ., sector. it is also a message, a warnin: sector. it is

bankman-fried could face a possible 110 years. if prosecutors move forward, bankman-fried could also face a second trial with another set of charges. sbf's attorney says his client maintains his innocence. live in the south bay, lauren martinez, abc seven news. >> lauren, thank you. we sent out a breaking news alert as soon as the guilty verdict came out. make sure you're staying in the know with these news events and weather updates with the abc7 news bay area app, you can customize it to your neighborhood and your interests. just be sure to enable the apps notifications feature. happening tomorrow, president biden and the first lady will travel to lewiston, maine to visit with families devastated by the mass shooting there. that left 18 people dead. a vigil was held in the town tonight, just over a week since the shooting and days after students returned to school this week. meanwhile maine's governor is putting together an independent commission to look into the police response and the numerous red flags about the gunman that w

bankman-fried's lawyers indicating they will appeal. >> my client, mr. bankman-fried, maintains his innocence, and we're going to continue to vigorously fight the charges against us. >> reporter: but prosecutors whose case laid out how bankman-fried used customer money from ftx to cover bad bets from his hedge fund, buy expensive real estate called it one of the biggest financial frauds in u.s. history. >> the crypto industry might be new, the players like sam bankman-fried might be new, but this kind of fraud, this kind of corruption is as old as time. >> reporter: the collapse of ftx and the downfall of bankman-fried now putting efforts on congress to regulate. >> congress can't even agree what crypto currency is let alone how to regulate it. >> reporter: in the weeks after ftx's bankruptcy customers rush today withdraw their money. the company didn't have it and soon there was a run on the bank. he lost more than $200,000 worth of investments. >> i feel like it's vindication of a lot of people and myself went through. it wasn't something that we did.

players like sam bankman—fried may be new. of corruption is as old as time. and we have no patience for it. you had there, you know, the prosecution for the presenter sam bankman—fried's case is filed, plain and simple. but his position throughout the trial was that he may have made mistakes, but that he was not guilty. in fact, his lawyer said we respect the jury's decision but we respect the jury's decision but we are very disappointed with the result. and of course sam bankman—fried throughout this has maintained his innocence. we will have to see what he does next. i5 have to see what he does next. is there any fallout from this trial and verdict on their crypto sector? i mean, this is an interesting question. you know, there was a white—collar lawyer who sort of pointed out that this could potentially have reverberations throughout the industry. that it sends a message that prosecutors, regulators may act. i mean come at the moment because, as we have said, this is a very nascent industry, there are not that many rules of

first it was elizabeth holmes and and now it's palo alto's sam bankman-fried, once known as a cryptos. the i.t. grad convicted of stealing billions of dollars from ftx customers and investors. nbc's stephanie magallon joins us with the details. >> reporter: sam bankman-fried now faces up to 100 years in prison and many believe this is a major crackdown in the cryptocurrency world. they are calling it the biggest financial fraud in american history and at the center, 31- year-old sam bankman-fried, from palo alto now facing a lifetime in prison. >> this kind of corruption is as old as time. we have no patience for it. >> reporter: sam bankman-fried cofounded ftx, one of the largest crypto exchanges in the world and founded a hedge fund called alameda research. prosecutors say he stole billions in funds from ftx to back alameda, invest in properties and celebrity endorsements and tonight he was found guilty of seven counts of fraud and conspiracy. >> this case is a warning to every fraudster out there. >> reporter: both his parents are stanford professors. gates went up around his home

if we about sam bankman—fried, will be talking about muszynski.ngs going again, but i think the public will be a little bit more is sceptical next time there is a picture on a new coin. ~ ., , coin. zeke, where does the c to coin. zeke, where does the crypto industry _ coin. zeke, where does the crypto industry go - coin. zeke, where does the crypto industry go now? . coin. zeke, where does the crypto industry go now? a. coin. zeke, where does the - crypto industry go now? a bunch of coins have _ crypto industry go now? a bunch of coins have been _ crypto industry go now? a bunch of coins have been going - crypto industry go now? a bunch of coins have been going up - of coins have been going up lately. bitcoin had been as high as $69,000 a coin. it is going for a $36,000 now. the industry is hopeful this is boom and bust in another boom will go soon. i really think that bankman—fried has tainted even the word crypto. when you seek crypto now people will picture the guy with the kelly haddad stole everybody public money. haddad stole everybody publ

bankman-fried's lawyers indicating they will appeal. >> my client, mr.ankman-fried, maintains his innocence and we're going to continue to vigorously fight the charges against him. >> reporter: but prosecutors whose case laid out how bankman-fried used customer money from ftx to cover bad bets at his crypto hedge fund, buy expensive real estate and make political contributions called it one of the biggest financial frauds in u.s. history. >> the cryptocurrency industry might be new, the players like sam bankman-fried might be new, but this kind of fraud, this kind of corruption, is as old as time. >> reporter: the collapse of ftx and the downfall of bankman-fried now putting renewed focus on congress' efforts to regulate the crypto secretarier. >> they've been unable to do it and part of the reason for that is because congress can't even agree on what cryptocurrency is let ahead regulate it. >> reporter: customers rushed to withdraw their money, the company didn't have it and soon there was what amounted to a run on the bank. jakethacker says he lost mor

sam bankman-fried found guilty. once a billionaire on "forbes" list., found guilty in the southern district of new york. his defense team will keep fighting. no word on the official appeal. the government will go into sentencing in march. kate rooney, cnbc business news, manhattan. >> for more, check out cnbc.com. >>> the market for environmental, social and c corporate governance, esg, is facing challenges with turmoil and regulatory concerns. that has led to a decline in investing. the next guest says investing in the united states has been weaponized. >> thank you for inviting me. >> you believe esg has been weaponized in the united states. do you see any change to the narrative? >> we see that change of narrative and if you look beyond the pollicization, there was a decline in esg investing in the u.s. in 2022. if you look at numbers and there are new studies from morgan stanley, the study on esg in 2023 increased to $3.1 trillion. there is a readjustment. i think what happened is a lot of the previous conversations made investors realize we have t

sam bankman—fried's thanjust personal.ector worldwide. erin del mar, bbc news, new york. the tech billionaire, elon musk, has said artificial intelligence will one day take away the need to work, and the biggest challenges in the future will be how to find meaning in life. at a public event with britain's prime minister might turn against us. our political editor chris mason reports on the ai summit at bletchley park. the world of artificial intelligence... i'm standing in front of a picture of parliament, a real picture of parliament. but here is the twist. if we zoom out, this technology, ai, has the capacity — of its own accord — to fill in the blanks. now, i can tell you, that is not what parliament actually looks like, but it is believable. and we can also choose what to add, so how about we spruce up this place? well, we could add a flower bed, for instance. and the possibilities are endless. this is just a very small example of the power of this technology, being discussed a few stops away from here, in buckinghamsh

these were the people who knew sam bankman-fried.n some of our reporting after this whole thing happened, and it unraveled, there were only a handful of people that would have known. he kept an insular inner circle. there weren't low level employees that would have known about these issues. it was up to a handful of executives. >> what about all the customers that lost money, are they getting it back this is. >> they actually might. the bankruptcy case is playing out in delaware. they have recovered about $7 billion of customer money out of eight or ten. there's a chance they maybe would be made 90% whole. there's a chance they will get that back and the venture portfolio -- ftx ventures was in anthropic which has done incredibly well in the meantime. they might make it back. >> definitely exonerating some restructuring team's comments what they saw when the books were first opened. kate, thank you. >>> let's get a news update with leslie picker. >> carl, the u.n. estimates gaza and the west bank need more than $1 billion in aid thro

palo alto native sam bankman-fried found guilty on all charges of fraud.ears in prison. >>> also, the feds stepping in to help san francisco fight open-air drug markets. >> the tenderloin has become ground zero for drug tourism. that is unacceptable. >> what they're promising to do

sam bankman-fried handled this power.e falling over him, trying to give him money, and it's astonishing to look back on the eyes of his fund raising routes that they had to. come he's valued at 32 billion dollars. recently, a year and a half ago? >> where are his parents and all of this? many have said it was his enabler, his father who was part of the company. i interviewed sheila -- and his mother had not yet said to him, sam, did you do it. which is stunning, right? i have very badly behaved children. and when the school calls, the first thing i say is did you do it. the parents never asked him. should we referred from that that they're deeply entangled, that they knew the answer. >> it did come up in the trial that the father joe brinkman was on a lot of the signaled group chat, a lot that we're all deleted so we don't know exactly what was going on in there but it seems like he was pretty connected to what was going on at ftx. >> it sure was. >> an astonishing moment for his parents were there every day of the trial,

the players, like sam bankman—fried, might be new.his kind of corruption is as old as time, and we have no patience for it. while bankman—fried was using his great wealth to buy and trade to political and celebrity elites, he was in fact stealing customer funds to shore up his other company, an investment fund. prosecutors used the testimony of his friends and ex—girlfriend to convince this court that bankman—fried directed a huge scheme to defraud customers, investors and lenders. he heads to prison still proclaiming his innocence. we are very disappointed in the result. my client, mr bankman—fried, maintains his innocence, and we are going to continue to vigorously fight the charges against him. but this case took two weeks shorter than expected to try, and jurors reached a verdict in a highly complex case with stunning speed. the man who was once the poster child for the brave lucrative new world of crypto is now one of america's most notorious financial criminals. erin delmore, bbc news, new york. earlier i spoke with kate baucher

a spokesperson for sam bankman-fried did not respond to a request for comment. we can speak to zeke, an investigative reporter at bloomberg. it's so good to see you. thank you for joining us. you have been covering the trial and this story, so were you surprised by the verdict? >> no. the fraud has been clear for quite some time. basically, as soon as ftx failed, it was clear the money was gone and the most likely scenario was he stole it. i flew down to the bahamas, and got there just before he was arrested, and we spent a day going over his excuses about how this was not his fault. even then, it did not seem credible. now we have heard his top three lieutenants, who all pleaded guilty, they all said we committed fraud. and we are really sorry. we did it with that guy over there. >> that is an interesting part about the case, he has been vocal, speaking to the media. his lawyers say they will fight the decision. from your conversations with him, how is he taking the verdict? >> sam always had a crazy attitude towards risk. if you told him that we are going to f

bankman-fried is getting instructions from judge. lou:s kaplan right now. after he is done, the jury will begin deliberations. the judge has ordered the jury to stay tonight until at least 8:15 p.m. eastern which means a verdict could come sometime before then. coming up, fameed defense attorney robert shapiro is here live to the talk about the odds of the one-time crypto billionaire and whether he can escape a guilty verdict or whether the evidence is just too overwhelming. let us right now get to the markets. it's a post-fed apparently -- party. the major indices are all enjoying quite a boost by the bulls. the dow right now is adding 0 -- 504 points. yesterday it gains 221 points after fed chief jay powell and company not only declined to raise interest rates at its policy meeting, but conceded that the while inflation is still tattoo high, the economy -- too high, the economy has not seen the full effects of the previous 11 rate hikes. >> it takes time, we know that, and you condition rush it. slowing down is giving us, i think t

bankman—fried now faces decades in prison.a pyramid of deceit. they said he used stolen money to prop up the investment fund he founded, and to purchase real estate, and to fund his lavish lifestyle. three of bankman—fried's close friends and business partners, including his ex—girlfriend, pleaded guilty to financial crimes and testified against him. what do you have to say to sam? bankman—fried pleaded not guilty to all charges and took the stand in his own defense to no avail. the government won this case by putting a lot of pressure on cooperators, getting deals with them very early on, and trying this case in a very streamlined way. this extraordinary fall from grace may be more than just personal. sam bankman—fried's guilt could severely damage the reputation of the wider crypto sector worldwide. erin delmore, bbc news, new york. the number ofjellyfish spotted in uk waters and on beaches has increased by more than 30% in the past year, according to the marine conservation society. scientists say it's the result of changin

. >>> ftx founder sam bankman-fried has been convicted of fraud and conspiracy related to the failure of his crypto exchange. his efforts to explain his actions while under oath did not convince the jury. >> i did not ever try to commit fraud on anyone. >> reporter: the former ceo of crypto company ftx has long professed his innocence about allegations that fraud led to his company's collapse last year. >> i underestimated what the market crash could look like. >> took a manhattan jury less than four hours to decide otherwise, convicting the 31-year-old of stealing as much as $10 billion in customer funds and defrauding those customers as well as the lenders of the affiliated hedge fund. prosecutors are calling this, quote, one of the biggest financial frauds in american history. >> the cryptocurrency industry might be new but this kind of fraud, this kind of corruption is as old as time. >> reporter: bankman-fried stood silently as the verdict was read. >> he was not credible on the stand. when your only defense is your credibility and saying, i did not know what i was doing, rose to

caroline ellison or sam bankman-fried?and have all those moments of amnesia really hurt him. no one was surprised about the verdict. whether it was crypto or cashless, the jury sent a strong message last night. liz: people waiting to get their money back. a lot of lives put on hold, they saw their money go up in smoke. people shouldn't beat up on crypto. we saw bernie madoff, hard cash invested in stocks, was all frittered away or completely used for his own purposes. the question, what are the odds that he will face more than 100 years in prison? joining me, former sec attorney howard fisher. speed of the trial, speed of the verdict, you did not expect an answer last night, what does the judge look at here? >> both sides make strong arguments, the defense will say the sentence should be served concurrently and the prosecutors say they should be consecutive and a lot depends what the 3 sentencings look like. but frankly, given the speed the jury came back with a verdict it is pretty clear that the evidence was overwhelming

i really think that bankman—fried has tainted even the word crypto.oney. interesting conversation. zeke faux, thank you so much forjoining us. us presidentjoe biden and first ladyjill biden have wrapped up their trip to maine. on friday, they visited lewiston in the wake of last week's mass shooting that left 18 dead and 13 injured. mr biden met with survivors of the shooting, families, community members and first responders. biden has called on congress to pass new gun reform legislation, including an assault weapons ban, universal background checks and strengthening red flag laws. remember you can stay up to date with all our top stories and the latest on the war in the middle east — on our website, that's bbc.com/news we have a live page there with updates from ourjournalists in israel and gaza, including our top story, that air strike on an ambulance convoy. do stay with us here on bbc news. hello. after what has been a very wet week for many, and a very stormy week for some, things do look a little calmer for the weekend. no, it isn't going to be

and we have no patience for it. >> reporter: at the peak of his fame, sam bankman-fried could affordbe irreverent >> i don't give a [ bleep ] about my legacy >> reporter: with an estimated net worth of $26 billion, he charmed investors, politicians, and the media. we sat down with the 31-year-old, famous for his disheveled look and casual dress, in the bahamas last year in just two years, he had grown ftx into one of the largest crypto exchanges in the world. and founded a crypto-focused hedge fund, alameda. are there any possible conflicts of interest? >> yeah, i put a lot of work over the last few years into trying to eliminate conflicts of interest there, and one big piece of this is just, like, i don't run alameda, i don't work for it. >> reporter: those words coming back to haunt him in court, where prosecutors laid out a case showing how bankman-fried stole billions in customer funds from ftx to make up for bad bets at alameda, buy luxury real estate, and secure celebrity endorsements >> what's up, guys i'm here with my boy sam from ftx >> reporter: bankman-fried was a respecte

bankman-fried's legal team maintains his innocence and says they will appeal. but still, this 31-year-old has experienced one of the most swift falls from grace in modern memory. almost one year since his crypto company chanced, he is now a convicted felon, and it's not over for him yet. the government intends to bring additional charges severed from this case in a separate trial to begin in march of 2024. erroll barnett, cbs news, new york. >>> eric trump is expected back on the stand today in the trump organization's civil fraud trial. donald trump's second oldest son followed donald jr. yesterday testifying he was never involved or aware of his father's finish -- financial statements despite being an executive vice president. the trump are accused of inflating the value of properties to obtain financing and make deals. former problem and his daughter ivanka are set to testify next week. >>> the senate was able to work around republican senator tommy tuberville's blockade of military promotions to confirm three top officers. that includes admiral lisa franche

who also was sam bankman-fried's ex-girlfriend as well.on to his close peers and parties who helped build the business, all basically ratting him out to make the prosecution actually work. let's take a 60,000 foot view. you have spoken to the u.k. fca chief. talk to us about regulators in the u.s. and elsewhere, how they are taking this. you mentioned they are viewing it as a positive. where does it go from here? annabelle: certainly a positive from people in the industry. definitely i think for regulators it is a reminder to them and also sort of validation of those that have chosen to put rules in place. of course as we know each regulator has a different approach to this. the u.s. sec has been reluctant to engage with the sector. places in the u.k., mainland europe as well, have been more proactive and that includes the financial conduct of authorities. i spoke to that u.k. body ceo -- he told me about the implications. >> as long as people are meeting our standards, we support innovation. also looking more broadly at additional assets

>>> guilty on all counts ftx founder sam bankman-fried gets his verdict from a federal court. we look back at the rise and fall of the one-time crypto king >>> a massive explosion in new york nearly leveling an entire building 15 people injured, including several children what we know this morning about the cause behind this fiery blast. >>> a days-long rescue attempt is still under way this morning at a collapsed mine in kentucky. first responders kicking off a new phase of the operation to save a trapped worker's life >>> to tip or not to tip a debate that's all over the delivery app doordash says your decision could impact your delivery time. hear from workers and the users fronting the bill. >>> more than 50 years since the original boy band broke up, the beatles are back with a brand-new single with a little help from a.i. it's friday, november 3rd. "early today" starts right now of. >>> good morning i'm jessica layton >> i'm phillip mena. it took just hours for a new york jury to find disgraced crypto king sam bankman-fried guilty the man who perpetrated one of the bigge

the players like sam bankman-fried might be new.his kind of fraud, this kind of corruption is as old as time. and we have no patience for it. >> attorney general merrick garland also weighing in, saying "sam bankman-fried thought he was above the law. today's verdict proves he was wrong. this case should send a clear message to anyone who tries to hide their crimes behind a shiny new inthing." the prosecution presented evidence showing sam bankman-fried knowingly stole money. the defense team saying he maintains his innocence and will continue to fight the charges against him. no official word on an appeal. >> but we've also got another trial, potentially, in the offing. is that garnuaranteed or likely? >> he faces charges with campaign finance violations. that's expected to come in march. they'll make a decision in february if they're still going to go forward with that. the debate is whether they spend more taxpayer money prosecuting this. some of the interesting stuff we got out of evidence had to do with campaign finance spendin

bankman-fried stemming from evidence uncovered during this trial.llegations of bribery of chinese officials. margaret, that investigation is expected to begin in march of next year. >> margaret: errol, thank you. president biden traveled to lewiston, maine, this afternoon to comfort a community still in mourning following a mass shooting that left 18 people dead last week. cbs's ed o'keefe reports the president met with victims' family members and first responders. >> president biden and the first lady walked hand-in-hand with maine's governor this afternoon in lewiston, a town still reeling from a massacre nine days ago. >> as we mourn today in maine, this tragedy opens painful, painful wounds all across the country. >> reporter: it's the president's fourth visit to a community upended by a mass shooting in the last 18 months. buffalo, uvalde, monterey park, and after each one, the president called for a new federal ban on assault style weapons and each time, nothing happened. >> injuries were devastating. >> reporter: dr. tim counihan treated many

the players, like sam bankman—fried, might be new.atience for it. while bankman—fried was using his great wealth to buy and trade to political and celebrity elites, he was in fact stealing customer funds to shore up his other company, an investment fund. prosecutors used the testimony of his friends and ex—girlfriend to convince this court that bankman—fried directed a huge scheme to defraud customers, investors and lenders. he heads to prison still proclaiming his innocence. we are very disappointed in the result. my client, mr bankman—fried, maintains his innocence, and we are going to continue to vigorously fight the charges against him. but this case took two weeks shorter than expected to try, and jurors reached a verdict in a highly complex case with stunning speed. the man who was once the poster child for the brave lucrative new world of crypto is now one of america's most notorious financial criminals. erin delmore, bbc news, new york. what do the names barrel, lion's mane and moon have in common? well, they're three types of

crypto boy wonder sam bankman-fried now facing 115 years in prison. bankman-fried started a crypto exchange, courted celebrities and politicians, and became a billionaire. he's 31, and now he's just been found guilty on all seven counts of fraud. >> that verdict was handed down in a new york city courtroom just about an hour ago, but this was a case watched extremely closely here in the bay area. bankman-fried's parents are stanford legal scholars, professors there on campus. just prior to his trial, sbf, sam bankman-fried, was hold up inside his parents' home in professor housing. the government's key witnesses in the case included sbf's coworkers and the cofounder of his company, all who cut deals and testified against sam bankman-fried. >> scott budman has been tracking the case since the beginning. didn't take the jurors very long to come up with that verdict, and the, you

tonight, sam bankman-fried. guilty on all charges. the once crypto boy wonder from palo alto is now facing up to 115 years in prison. here's what we know. the verdict came down in new york city just about two hours ago. bankman-fried, the co-founder of the failed crypto exchange called ftx, was on trial for seven counts of fraud. after 15 days of testimony, the jury took just four hours to make a decision. the 31-year-old bankman-fried grew up in palo alto. both of his parents are stanford professors. they were inside the courtroom this evening when that verdict was read. >> he was standing, facing the jury box, didn't flinch. then he stayed in place well after the judge left. he stood there. mark cohen, his lead attorney, standing to his right, whispering into his ear, comforting him by putting his arm on his shoulder. his parents came up. they were still sitting in the pews, leaned over, and it seemed visibly upset but they weren't crying. >> that is one of our correspondents who was in the courtroom from cnbc. let's bring in our bu

. >>> and former crypto king sam bankman-fried found guilty last night of fraud and conspiracy. what that convictition couldld for the future of the cryptocurrency market, we'll have more. nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! [ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. >>> eric trump is expected back on the stand today in the new york civil fraud trial against the family business. he and his brother don jr. are accused of knowingly participating in a scheme to inflate their father's net worth. cnn's brynn gingras is at the -- what is the contention so for far eric? >> erica, good morning, there's a couple things to keep in mind. these financial statements are at the core of the case. the brothers took over the family business when their father took over the oval office so the state's attorney wants to know what their role was in preparing these financial statemen

sam bankman-fried faced seven counts of fraud and conspiracy. the sentencing date is set for march, so at that point, we will know how much time he will spend behind bars. for the most serious of the charges against him, it could be a time of as much as 20 years in prison. the verdict today, we understand it is getting a bit of color. sam bankman-fried apparently stood in front of the jury, hands in front of his body, and looking at him, they gave him the guilty verdict. his parents were in the courtroom, and sam bankman-fried was let out of the courtroom a few minutes after that was issued. haslinda: cryptocurrencies trading lower today, not surprisingly. what has been the reaction from the industry players? annabelle: there is a small move lower that we are seeing for various crypto tokens, including bitcoin. you have to look at the context is bitcoin has been on a huge rally over the past couple of months. really, that anticipation building around the spot. but the reaction from the industry that we are hearing so is that people are welcoming

bankman-fried staring straight ahead.s, including a dinner break. a news mpbsconference after thi damian williams, said "we have no patience for it." the prosecution described ftx as a pyramid of deseept, presenting evidence showing bankman-fried knowingly siphoned billions of dollars from his crypto to his hedge fund. he continues to maintain his innocence and will continue to fight the charges against him. >> kate, thank you. >>> we have a newsmaker at the table, transportation secretary pete buttigieg attending the celebration of the third phase of the hud zone yards project. it will connect the gateway hudson tunnel to penn station, replacing the 100-year-old train tunnel under the hudson river. secretary buttigieg joins us now to talk about infrastructure and labor. i want to talk about a hundred things. >> good. >> you running? you're here in new york. the marathon is on sunday. >> you've run marathons before, haven't you? >> half marathons. a lot this summer. i'm going to cool it far while. >> you're headed to huds

the players like sam bankman-fried might be new.and corruption is as old as time. we have no patience for it. jon: that was u.s. attorney damien williams after sam bankman-fried was convicted of a massive fraud which led to the collapse of ftx. some observers see the conviction as setting the stage for a more regulated future as digital assets are more widely adopted. crypto exchange executive bobby zagotta joins us with his reaction. the jury did not take long on this one. does that surprise you? bobby: it doesn't, although i must confess i felt a sense of relief when i heard the verdict. it seemed quite obvious to me what the situation was. it seems like the prosecutors did an excellent job. you always worry just a little bit when you have someone who has proven their ability to deceive so many people and influence of any people that they will somehow find a way out. i was relieved that did not happen. matt: do you think the average man or woman on the street conflates the fraud committed here by sam bankman-fried with the crypto