the embattled cryptocurrency exchange, fdx is now haggling with regulators about its bankruptcy fdx file for chapter 11 bankruptcy in the us last week, however, regulators in the bahamas are now trying to take over control of the bankruptcy proceedings. because fdx is legally based in the bahamas, the company and its founder, bay area native sam blankman, freed faced several investigations in the us and the bahamas. fdx is accused of investing and losing a billion dollars worth of customers money in other ventures without their approval . the fd x logo has now been removed from the football field at u. c. berkeley. the stadium was briefly named ft x field at memorial stadium, fdx attracted a number of naming rights contracts and celebrity endorsements. former fdx customers have now filed a lawsuit against a number of celebrities including larry david and tom brady over the collapse of the crypto currency exchange, the golden state. it has enjoyed a healthy state budget for years, but tonight the troubling signs that things could be changing here in california. also ahead tonight, investi

he's got stadium naming rights for fdx, of the branding for fdx. fdx. clearly, he has some financial support and backup behind him, correct? >> guest: he had a lot of backers, traditional finance people, venture capital, to mastic which is a state investing arm in singapore, you know, up-and-down silicon valley and beyond and then he was also making his own money presumably through the trades that he was doing with the hedge fund he starred and then by charging fees on trades that he was doing over fdx. at the business model for the script exchanges is a take a piece of every trade and the higher the volume they do, the more money they make and this entire empire was based offshore. it was originally set up in hong kong, then covid it and he moved to the bahamas very much on purpose because there was much friendly regulatory environment there any new hippie facing in the united states and it allowed the trading platform to offer a much fuller menu of risky trades to their customers then he would've been allowed to offer if yet set up in the united state

f so what does this have to do with the collapse of tech fdx? well, it turns out that sam bakeman, freed's girlfriend, carolynkman-fried'n ellyson, haf connections to regulars. in fact, the biggest regulator of all in this country. mit her father, glen, is an mit professor who worked at university alongside drumroll, please, gary gensler, the headli of the scc, which is in charge of cryptocurrency regulation. fdx is general counsel used on h to work with gensler on the commodities futures tradin. more powone now gensler is about to get a lot more power. so thi s thing swells to unsustainable size and inevitably implodes. it collapsesevitably. they've and that collapse is used for a pretext to do what they've been planning to do along. eve so probably shouldn't shock you that right after this collapse, everyy major bank in thisto country announced a new partnership with the new york fed to establisestablih new digital currency. oh, digital currency, the one they can regulate and control. citigroup, wells fargo, mastercard, hsbc, all working on a

that stadium was briefly named fdx field at memorial stadium.ttracted a number of naming rights contracts and celebrity endorsements, including the arena in miami, home to the miami heat. nba team. gearing up for the thanksgiving holiday. just how many passengers are expected to pass through oakland international airport and what you need to prepare for if you have a flight next week. and a barrier weather a bit of a cool down for today, with some visiting high clouds. maybe a bump bump of the wind speed for your friday forec t, and w rose public sale for the taylor swift tour has been canceled on twitter. ticketmaster says quote it's due to extraordinarily high demands on ticketing systems and insufficient remaining ticket inventory to meet that demand and quote. the sudden cancelation comes after ticketmaster said that more than two million tickets were sold tuesday for taylor swift, upcoming tour the most ever sold for an artist in a single day. scheduled to perform at levi stadium, july 28th and 29th. this comes as the attorney general of te

fdx is now haggling with regulators about its bankruptcy fdx file for chapter 11 bankruptcy in the us last week, however, regulators in the bahamas are now trying to take over control of the bankruptcy proceedings. because fdx is legally based in the bahamas, the company and its founder, bay area native sam blankman, freed faced several investigations in the us and the bahamas. ft x is accused of investing and losing a billion dollars worth of customers money in other ventures without their approval . the fda logo has now been removed from the football field that u c. berkeley the stadium was briefly named 50 x field at memorial stadium, fdx attracted a number of naming rights contracts and celebrity endorsements. former fdx customers have now filed a lawsuit against the number of celebrities including larry david and tom brady over the collapse of the crypto exchange area doctors entering a very busy season with an increase in respiratory illnesses among young children what families need to know with thanksgiving quickly approaching, also new at 10, a fast food worker punched repeate

the collapse of fdx came after reports that the exchange might have used customers crypto deposits toe blankman freeze, alameda research hedge fund already having a pretty negative impact for sure works in the cryptocurrency sector. he was part of a crypto and karaoke meet up at dimples bar in san francisco. thursday night, for example, bitcoin drop few $1000 already so it's generally people who didn't have very strong conviction about crypto were panicking. of course, all of the f fdx customers got affected right there now panicking because they cannot withdraw their funds to organize the meet up, says he learned years ago, the risks of cryptocurrency e and chance to make money real quick, but you don't always consider the fact that at the same time, you can probably lose it just as quickly too, but he and others at the meet up remain optimistic similarly to the .com bubble, there's going to be projects that didn't have any sort of fundamental use cases and such and they're going to get weeded out. nicholas weaver, a researcher affiliated with uc berkeley is skeptical. weaver says th

in the wake of fdx collapse.e now suspended withdrawals as more investors try to pull out their money. nba star kyrie irving is reportedly close to a comeback. he was suspended by the nets after posting a link to an anti semitic movie and then initially refusing to apologize . espn reports he could be back playing as early as sunday, irving was required to get sensitivity training and to meet with jewish leaders before returning. and coming up the reward. one man got for finding a lost check worth millions fallout for ticketmaster after fallout for ticketmaster after the taylor swift tickets, chaos there's a different way to treat hiv. it's every-other-month, injectable cabenuva. for adults who are undetectable, cabenuva is the only complete, long-acting hiv treatment you can get every other month. cabenuva helps keep me undetectable. it's two injections, given by my healthcare provider, every other month. it's one less thing to think about while traveling. hiv pills aren't on my mind. a quick change in my plans

collapse of the high profile exchange ft x good evening, everyone i'm mike mibach julie julie haener fdx now under federal investigation and its founder from the bay area, taking responsibility ktvu is jana katsuyama is here now, with reaction from investors and researchers, janna julian mike fdx was really on top of the world recently with major sports sponsorships and endorsements, including the warriors and major league umpires. but today, the ceo of barry, a native issued an apology. ft. ex ceo and founder sam blankman, frida bay area native posted along apology thursday on social media after news that 50 x is now under investigation by the department of justice and securities and exchange commission. he said he takes responsibility and said i sincerely apologize and promised more transparency going forward. the collapse of ft x came after reports that the exchange might have used customers crypto deposits to fund bets at the blankman freeze. alameda research hedge fund already having a pretty negative impact for sure pollution, so works in the crypto currency sector. he was part of

so let's look at fdx. it certainly appears to be an egregious failure to treat customer assets as segregated assets. it appears that the leadership there attempted to fill a hole in an affiliated company, and it occurs to me that this is a worry that i don't have for one split second about my stocks are my bonds or my treasury's when they are held in custody by american banks. mr. hsu, a predecessor of yours said that there's no need for any additional guidance. it settled matter as to how banks should custody financial assets. and they do it all the time and they've done it forever. but my understanding is that your office discourages banks from providing custody services, among other services, in the crypto space. and it seems to me if people have access to custody services provided by a wide range of institutions, including regulated financial institutions, they might be able to sleep more comfortably knowing that those assets were unlikely to be used for some completely inappropriate purpose. is it tru

the thing with fdx, you don't want to invest in it with shady people.ry now and then a friend would come to you, hey, i am building something great, would you like to invest in it? then i sold the company and went public and you missed out on a lot of friggin' money, my friend. >> you do not wooes any opportunity to throw that back in my face studio. >> i will get back to you. that's what you said. p >> this thing hits me ri here, am i going to be okay? p >> you know who's gettin tom brady and giselle is getting sue and zach's getting zoo and so they went out there. >> these house are going to get involved? i am going to get them involved. >> tore thing is when dave was talking about approaching stuff investment, this was happening when you are a public figure, brian. i am being diplomatic when i say that. but, i mean john, would somebody comes to you and they want to put your face on something. that's your criteria? >> how much? >> for me its got to be something that i have to be jealous of that idea. gosh, i wish i would have thought of that. that's a

fdx has just filed for chapter 11 bankruptcy.ndbank mint freed, has resigned as the company's ceo. the news comes a day after he posted an apology on social media following reports that the federal government was investigating allegations his exchange violated security rules and mishandled customer funds. the developments are already having a major impact on the use of crypto worldwide. can't drop in dollars already, so it's generally people who didn't have very strong conviction about crypto were panicking. of course, all of the f fdx customers got affected right there now panicking because they cannot withdraw their funds. there was a lot of talk about these developments among people who gathered for krypton karaoke meet up at dimples bar in san francisco last night. they all said they're well aware of the risks that come with crypto currency. the budget ministrations says it will appeal after a federal judge in texas struck down. it's a student debt forgiveness plan, the judge sided with the conservative advocacy groups, sayin

fdx has just filed for chapter 11 bay area native sandbank. has resigned as the company's ceo. it is a federal veterans day holiday data nour and thank all those who are and have served our country, federal, state, county and city offices and courts to close today. post offices are closed and there is no mail delivery. most schools and banks are also closed, although the stock market will have a regular trading day, and most public transit agencies are operating on their regular weekday schedule, veterans day presents a special opportunity to give back to those who have served our country in the military. tony larussa animal rescue foundation or are looking for foster families for its pets. tibet's program, the animal rescue foundation and walnut creek worked to turn rescue animals into trained service dogs for dozens of veterans at no cost to them. jeff thomas is a veteran who says his service dog saved his life. she's been my lifesaver. i didn't sleep at night. it was just it was horrible. and, um, so i. you know, took it upon myself to say

fdx faces a criminal investigation in the bahamas over the collapse of the crypto exchange. crypto assets continue to selloff. plus, superpowered summit. president biden and xi set to discuss trade and politics at the g20 with the world's most powerful leaders looking to make amends. manus, it is all about waller this morning, betting down any idea that a pivot party is on the way. manus: we debated the potential for a recalibration from the fed, but to quote the great man himself, chris weller, and this is the fed itself, the market gets way out in front. 7.7% is enormous. we've still got a ways to go. he is channeling his inner robert frost. [laughter] dani: i love it, calm down, everybody. you have that fantastic dollar showing how far the market has gone. why they are attempting to push back. manus: it took them so long to win the narrative, didn't it? they had to inflect multiple 75 basis point hikes. the dollar is resplendent and we lost 3.5% last week. a thrashing. i love what bank of america say, are you just renting the pivot? if there's not to be any rate cuts, the

fdx rights cos and celebrity endorsements. now filed a lawsuit against several celebrities, including larry david. tom brady over the collapse of that cryptocurrency exchange. hackers are targeting hospital systems in an attempt to extort money, leaving sick patients to pay the price. the latest healthcare system victim of these ransomware attacks is common spirit health. the nonprofit hospital confirms hackers hijack the company's i t system and blocked doctors and nurses from accessing patient records for 11 days last month, experts say this hack left 20 million americans in 21 states at risk of faulty healthcare and having their medical records leaked. it's a double whammy when it comes to you know both your healthcare and then on your own personal information being protected. ransomware attacks on healthcare organizations increased 94% from 2021 to 2022 more than two thirds of u. s. healthcare organizations reported a ransom attack last year. common spirit says it's still working diligently to bring systems online and rest

the most prescient assessment of fdx there was and this man tried to warn lawmakers they did it on tape. u >> he joins us next. plplus, a piece of american history of country music history could soon be torn down . a lot of american history has been demolished recently. kid rock wants it here and savev this piece of our history joins us next to each point. the world doesn't come together like this very often. but when it does, the results can be extraordinary. qatar is committed to that idea. growing its potential as a partner, investor and innovator with possibilities that are unlimited and rewards that are priceless. let the world play and become part of our story. >> hello, i'm mike lindell and i'm excited to bring you my giza dream bedsheets for the best offer ever. we're all experiencing rising prices, but i was able to secure a limited amount of giza cotton for a great price and i'm passing those savings directly onto you. you can get my dream bedsheets for as long as twenty nine ninety eight with your promo code. they're the most luxurious sheets ever made with a world's best cot

people associated with fdx worked at the same lab. there is a lot of connections here.to look at it and bring it up. >> it doesn't sound like there is any there there. >> i don't know. but i'm telling you if you are a major democratic contributor and meeting with gary gensler to get a leg up, to get his approval. everybody's face while the sec is busy running around cracking down on ripple which runs a real business. you have got to ask why didn't he look at them closer in. liz: he didn't green light anything yet. charlie: we don't know. gensler claims that his meetings with bankman fried were above board. i remember when madoff blew up. people did ask the sec how did you miss the madoff blowup. it turns ought madoff had some family members -- his son-in-law worked for sec. he didn't get charged for that. but there is something called regulatory capture. when you have close ties to companies you regulate, we'll find out how close gensler was to fdx. there is something in you that says that person is not a crook, that person wants to do good. bankman-fried's father is bi

ailing fdx.pto currencies in ruins. and yet another dent in investors faith in the crypto currency sector as a whole. some within the industry referring to this as crypto lehman moment, a reference to the 2000 collapse of the large investment bank which revealed the fragility of many financial institutions. much more coming up and alter a's stories from two lewis vonjones to take you through the afternoon but now we will catch up with the weather prospects and they come from ben rich. good afternoon. for most of us, i think it'll be the feel of the weather. that's the most notable thing. over the next couple of days, it is going to be exceptionally mild by day and by night, but extremely wet for some in the northwest of the uk because of this stripe of cloud. i've zoomed out a long way to show you this satellite image because this stripe of cloud extends across a large swathe of the atlantic. it will bring heavy and persistent rain to northwestern areas. but ahead of that, we are pulling up this

this so that we can then respond to make sure that consumers are protected still od digital assets fdxiled for bankruptcy last week, leaving investors without access to their accounts. checking in on san francisco and across the bay in berkeley. set temperature in san francisco right now is 50 degrees, berkeley's 50 degrees as well. it's a cool night, but not freezing temperatures above freezing enough cold, though, to get you some frost as we've seen the last couple of mornings, but again, just a very, very pleasant period. this last week has been with temperatures in the mid sixties and low seventies. here's the forecast for tomorrow. friday looks good. few clouds on saturday they fly slide out sunday looks pretty good to weekend looks okay. and then late into sunday, monday and tuesday, this happens and there's more behind that, so we're going to go steady as she goes for the next few days, right through the weekend, except add the clouds in kind of like we had today, right? we had a bunch of clouds and it was still very nice, and that's how the weekend goes. i think we'll lose the

the giant cryptocurrency exchange, fdx has just filed for chapter 11 bankruptcy area native sam. bank mint freed, has resigned as the company's ceo. the news comes one day after he posted an apology on social media following reports that the federal government was investigating allegations his exchange violated security rules and mishandled customer funds. the developments already having a major impact on the use of crypto worldwide. you can drop few southern dollars already, so it's generally people who didn't have very strong conviction about crypto were panicking. of course, all of the f fdx customers got affected right there now panicking because they cannot withdraw their funds. there was a lot of talk about these developments among people gathered for a crypto and karaoke meet up at a bar in san francisco last night. they all said they are well aware of the risks that come with cryptocurrency. let's swing over to wall street with stocks are doing after that monster day we had yesterday things are looking very different on the down, which is essentially right back to where i

fdx filed for bankruptcy last week, leaving investors without access to their accounts, warriors starnd other athletes and celebrities who endorsed fdx have actually been hit with a class action lawsuit. that lawsuit is seeking billions of dollars in damages, claiming those celebrities were used to raise funds and then drive american consumers to invest in a fraudulent scheme. a lot of disappointed taylor swift fans tonight as ticketmaster suddenly canceled tomorrow's public ticket sale for her eras tour. ticketmaster says it was due to extraordinarily high demand. the company said that 14 million people tried to buy tickets during the pre sale far exceeding the supply and crashing the site. the insurer reminded us that for the ticketmaster and live nation merged 12 years ago and now control about 70% of ticket sales for live events. particularly this is an example of what happens when you don't have enough competition right service fees, which a lot of people were frustrated. what are those service fees paying for the websites now working and then also the idea that they have to go t

the stadium was briefly named fdx field at memorial stadium, fdx attracted a number of naming rights contracts and celebrity endorsements, including an nba arena in miami. yeah. tragedy unfolds in the east bay after a wrong way crash leaves five people dead, including three miners were live near the scene of the crash with the latest details, then caught on camera, a student at an oakland high school stabs fellow students several times on school grounds at first of those fake but then, like her was on lockdown and everything. so i was like, oh, my god, this is a serious thing. parents are reacting as they say they were the last to hear about the violent incident. also ahead this morning control of congress officially decided the battle still brewing over who will be the next speaker of the house. and welcome to the nine. we want to get straight out to a developing story we've been following this morning in the east bay, california highway patrol has opened up all lanes of highway four westbound in pittsburgh following a deadly crash that reportedly killed five people says the deadly

the x garnered support from high profile sports celebrities is global ambassadors for fdx, includingph curry, tom brady and shock on wall street. crypto sink on fdx bankruptcy filing, but overall stocks rallied for the best week since june on hopes that cooler us inflation will lead to less aggressive interest rate hikes. the dow is up 32 points, the nasdaq gained 209 points and the s and p climbed 36 points. well turning down to the 2 to 2022 midterm elections of mayors raised in san jose still remains too close to call city council never met. mehan has maintained his lead with 52% of the vote. county supervisor cindy chavez is trailing with 48% mayhem leads by a little more than 5000 votes . the winner will replace turned out mayor sam liccardo. after nine rounds of voting and ranked choice system for oakland mayor council member lauren taylor maintains his lead over council members sang tao. the latest numbers show taylor ahead 53% to talents 47% there are still tens of thousands of ballots left to count. and as we still await those results of the midterm elections, more and more

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next, where ftx? we wait and we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors. >> to see if they can get basically a bail out. >> and us, police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> more than 700 people in san jose were cited last night for watching and participating in sideshows cameras captured sideshows at 7th and virginia street and at nearby monterey highway and brenham lane late last night, a resident was reportedly carjacked at gunpoint at the brenham lane location. police also found a discarded ghos

i yes.in if i , if i could bring up a point not exactly about fdx, dothough the thingg with fdx, youknow, you don't want to invest in these things with shady people. a ititevery now and again in li, a friend will come to you. you yeah. and they'll say to you, hey,, i'm building something great. would you like to invest in it? that's whayot i did when i was building. o in i came to you. i said, greg, would you like to invest in locals? and you said, i'm very busy.blic i'll get back to you. and then i sold the company to went public. >> and youd ou missed out on a t of freakin' money, my friend. this is now, you know, you do not waste any opportunity to throw that back in my face, do you? >> i'll get back to you. that's what you said.p this bit hit me right here. am i going to be so, so great that i spit on you guys? >> oh, well, you are. you're always ensued. tom brady's getting sued. jazelle is getting sued. shaq's getting sued. they are all getting sued because they went out there and they just trusted this guy.d knew what he was doing.so the well, then a lot of people did they go,

ukraine invested some of that fdx then fdx donated $40 million to the democratic campaign for the mid—terms the mid—term. at what point does it become legitimate to ask if this was profiteering or money laundering? no collapse of fdx could potentially be seized upon by biden's administration as the excuse they were waiting for to pass legislation to take control of cryptocurrencies. killing two birds with one stone. anyone what about the knowledge that college dropout computer software salesman bill gates has more than a quarter of a million acres of farmland in the us for purposes unknown . or the daily purposes unknown. or the daily and nightly by denny's of tens of thousands of young men on britain's sure where they are free to hotels for free accommodation , money, free food accommodation, money, free food and access to all the gp and dental appointments. you can't get all of at the taxpayers expense the knowledge that their arrival aided and abetted by serco , a company whose outgoing serco, a company whose outgoing chief executive rupert soames, grandson of winston , the wartime gran

fdx filed for bankruptcy earlier this month with losses by investors estimated at $3 billion or more. the latest court filings show that the assets recovered include not only bitcoin and ethereum but also a collection of minor crypto currencies. former ceo sam blankman freed reportedly remains in the bahamas. well the changes just keep coming at twitter under its new owner today, ceo elon musk announced plans to relaunch its premium service. this comes after yesterday's decision to grant what he calls amnesty for suspended accounts earlier tonight on the news at six o'clock senior editor at large insurer told us he is worried about this decision, he said. it could lead to a lot of controversial and even harmful content on the site. after years of efforts by twitter to eliminate misinformation. shut down hundreds and thousands of accounts that looked to be legitimate that were actually being run by other governments trying to influence us here in the states, so it's not just about you know me complaining about people hurting each other's feelings. there's actual impacts on our election

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> and the hamas police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> well, meantime, disney planning to not only freeze hiring is because jobs as well in a memo sent to employees. the company bob chapek says the layoffs are part of a company. one measure to cutting costs. he also announced a ban on all nonessential work travel, the hiring freeze pertaining to all, but a few key positions. the news co

ukraine invested some of that fdx then fdx donated $40 million to the democratic campaign for the mid—terms the mid—term. at what point does it become legitimate to ask if this was profiteering or money laundering? no collapse of fdx could potentially be seized upon by biden's administration as the excuse they were waiting for to pass legislation to take control of cryptocurrencies. killing two birds with one stone. anyone what about the knowledge that college dropout computer software salesman bill gates has more than a quarter of a million acres of farmland in the us for purposes unknown . or the daily purposes unknown. or the daily and nightly by denny's of tens of thousands of young men on britain's sure where they are free to hotels for free accommodation , money, free food accommodation, money, free food and access to all the gp and dental appointments. you can't get all of at the taxpayers expense the knowledge that their arrival aided and abetted by serco , a company whose outgoing serco, a company whose outgoing chief executive rupert soames, grandson of winston , the wartime gran

crypto sank after that bankruptcy filing by fdx. but overall stocks rallied for the best week since june on hopes cooler us inflation will lead to less aggressive interest rate hikes. the dow was up 32 points, the nasdaq in 209 and the s and p climbed 36 points. disgrace theranos founder elizabeth holmes is asking a judge for a lighter sentence. she faces up to 20 years in prison after being convicted on four counts of fraud and conspiracy earlier this year in new court filings, her defense team told the judge she should get 18 months in prison. 82 page filing was accompanied by letters from 130 family members, friends and acquaintances of the 38 year old biotech entrepreneur. however there is a chance the judge will consider using the sentence as a deterrent for other would be fraudsters. the judge and the federal government want to send messages to people in silicon valley and other businesses. don't duplicate what she did or they're serious consequences. new jersey senator cory booker penned a letter to the judge as well. booker

the stadium was briefly named fdx field at memorial stadium, fdx attracted a number of naming rightsents, including an nba arena in miami. yeah. tragedy unfolds in the east bay after a wrong way crash leaves five people dead, including three miners were live near the scene of the crash with the latest details, then caught on camera, a student at an oakland high school stabs fellow students several times on school grounds at first of those fake but then, like her was on lockdown and everything. so i was like, oh, my god, this is a serious thing. parents are reacting as they say they were the last to hear about the violent incident. also ahead this morning control of congress officially decided the battle still brewing over who will be the next speaker of the house. and welcome to the nine. we want to get straight

the collapse of fdx came after reports that the exchange might have used customers crypto deposits to fund bets at the blankman freeze, alameda research hedge fund already having a pretty negative impact, for sure, lucio works in the crypto currency sector. he was part of a crypto and karaoke meet up at dimples bar in san francisco. thursday night, for example, today bitcoin drop $1000 already so it's generally people who didn't have very strong conviction about crypto. we're panicking. of course, all of the f fdx customers got affected right there now panicking because they cannot withdraw their funds organized meetups says he learned years ago the risks of cryptocurrency and chance to make money. uh real quick, but you don't always consider the fact that at the same time, you can probably lose it just as quickly too, but he and others at the meet up remain optimistic similarly to the dot com bubble, there's going to be projects that didn't have any sort of fundamental use cases and such and they're going to get weeded out. nicholas weaver , a researcher affiliated with uc berkeley i

. >>>> fdx, one of the world's largest crypto currency exchanges have collapsed.e are learning more of the ties between democrats and the man behind the now bankrupted crypto currency exchange. kelly o'grady isrprp isrprp joining us live. >> reporter: this could be enron. everything comes crashing down and new court documents are revealing that over a million customers could be impacted by this. now, what we are learning that the former ceo being accused of fraud secretly using company's funds to bail out one of the other companies and now we are learning of those ties of the democratic party, not only the ltx's founder funded millions. here he is explaining that funding. >> i really need to do this in a bipartisan way. who are the people? who are really our public servants. >> looking at that number, that partisan claim falls black. >> 92% of the democratic candidates are grouped. he was democrats' largest donors behind george sorrows. the former ceo shared a podcast this year that he plans to spend a billion dollars especially if former president trump were to r

part of a statement from a lawyer says, "fdx was in the control of a small group of inexperienced andndividuals that, unfortunately, the evidence seems to indicate that some or all of them are also compromised individuals." this all comes as a terminated attorneys alleged sam bankman-fried with a handful of associates looted the crypto exchange coffers to fontan epic spending spree that included $300 billion on bahama real estate. how, you ask? just basically went for it according to attorneys. ftx detailing a wild spending spree under the 30-year-old sam bankman-fried and on tuesday rapid mismanagement by talk except he lives until -- executives with client funds missing. >> we've got to get some kind of regulations in place because the more moved overseas, it is a negative for us. it makes a smaller window for us to have oversight into the operations. we need them to be back in this country, ftx is in operation in the bahamas. >> wow, how about that? the attorney said 300 million spent on real estate was mostly used to buy mansions and beachfront vacation properties. and from's bank

binance announced that they had fdx had not enough reserves . they said not enough reserves. was a run on the bank, everybody was cashing in and everybody was trying to sell. so, you know , it trying to sell. so, you know, it matter what bank it was in the world, everybody's taken world, if everybody's taken their what? their money out, guess what? last am sorry. last fight in. i am sorry. collapsed but literally then when collapsed , they found no when it collapsed, they found no accounts, no board . the company accounts, no board. the company was run by a messaging system . i was run by a messaging system. i disappear in messages . i mean, disappear in messages. i mean, it sounds like super rhythmic. and why was nobody watching it? i mean, it was in the bahamas. they out red faced difficult and yet despite that you believe that cryptocurrency be a very important part of the future explain why i think it's a failure of government i think it's a failure of regulation i don't think it's a failure crypto so you know the underlying is good crypto is good digital, underlying is g

reggie: the collapse of cryptocurrency giant fdx -- ftx. several celebrity are named in the lawsuit. there were some of the advertising spokespeople for ftx. it's founders are under investigation for fraud after billions of dollars of cryptocurrency value got wiped out in a matter of days. kumasi: look at kalus football field at memorial state ballfield. the ftx logo has been removed. uc berkeley suspended the naming rights after filed for bankruptcy. reggie: two of the top ranked law schools say they are not going to be ranked anymore. yale and harvard law schools are abandoning the u.s. news rankings. the ranks have come to influence application decisions, financial aid, and career paths for countless students. the dean of l.a. -- of yale law says it gives the wrong incentives and stands in the way of progress. kumasi: you can get into the hallway -- the holiday spirit today with starbucks because it is red cup date. if you order today, you get a reusable red cup. it includes any orders you place on the app and starbucks delivery. on top

fdx garnered support from high profile sports celebrities as global ambassadors for ft x, including steph curry, tom brady and shock on wall street crypto sink after that bankruptcy filing by ft x, but overall stocks rallied for the best week since june on hopes cooler us inflation will lead to less aggressive interest rate hikes. the dow was up 32 points, the nasdaq gained 209. and the s and p climbed 36 points. our nation honors military service members on this veterans day events took place all around the country and here in the bay area to pay tribute to those who have served in marin county. decorative wreaths were laid at the base of the statues at the veterans memorial. there was music and vintage military takes and jeeps on display. and in san jose, a veterans day parade made its way through the city's downtown. this is the 104th year of the parade, honoring those who have served in presently are serving in the armed forces. u s navy rear admiral and swap served as grand marshal. the parade included military units, elected officials, vintage vehicles and marching bands. today at s

former fdx ceo sam blankman freed reportedly remains in the bahamas. coming up tonight. here on the 10 o'clock news. so massive holiday maze opening tonight in the south bay will take you through this festive family attraction. plus a crackdown on thieves this holiday season. we'll tell you about the efforts underway to help fight retail crime across california. had a barrier weather lots of sunshine. today we will call things off a little bit into the weekend. and eventually maybe some raindrops headed our way. we'll have the forecast update coming up. since that thanksgiving feast, but in san jose, it's out with the turkey and in with the christmas lights, massive holiday maze opening to the public tonight at paypal park and ktvu access was at the front of the line. organizers say they've done events like this in other parts of the country, but never here in san jose, and each year they say they try to make them bigger and better. so what does that record sized christmas light maze look like? well something like this, they said. there's like like a million lights here

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait and we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors. >> to see if they can get basically a bail out. >> and behind police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> federal prosecutors have asked a judge to sentence former theranos ceo elizabeth holmes to 15 years in prison. they argue she deserves a long prison term because of our scheme. duping investors out of hundreds of millions of dollars. holmes is set to appear for sentencing this coming friday. and san jose. she could face up to 20

fdx has caused huge problems for investors recently.. it has been _ his chief rival. yes that is right. it has been an _ his chief rival. yes that is right. it has been an incredible - his chief rival. yes that is right. it has been an incredible few. his chief rival. yes that is right. i it has been an incredible few days since that'll came out. ftx is the second—biggest crypto exchange in the world, crypto has been the main way that people get into an out of crypto currency. you go onto exchange in order to change dollars, pounds, euros into crypto. ftx was a beacon of hope in the crypto winter, as they are calling it, crypto currencies this year have been a terrible investment for lots of people. the values are plummeted and lots of companies and exchanges of gone belly up. that ftx has remained strong and it looked to be thriving. that is until the rumour started circulating that their finances were on shaky ground. that caused this incredible run on a bank within 2a hours i think $5 billion was taken out of ftx and then it revealed

. >> steph curry became a global ambassador in fdx after acquiring an equity stake.om brady also signed a deal with them. sequoyah capital considers its $10 billion stake to be worthless but it is not just the big guys feeling the sting. da lin spoke with a san francisco woman who spent tens of thousands of dollars betting on crypto. >> reporter: kimberly is on the move. >> if i had an extra $40,000, that makes looking for an apartment in san francisco easier now. >> reporter: that is roughly how much money she lost and her crypto currency investment this year. >> i'm definitely grieving that loss because i did the thing that you are not supposed to do. right? i did invest my savings. >> reporter: she did not use ftx as an exchange. but experts say the collapse of ftx, the second biggest crypto exchange, will further push bit coin and ether prices down. that's why it hurts investors and the industry as a whole. >> 2022 is a bad year for crypto currency from the beginning to the end. it has lost two-thirds of the market value. >> reporter: professor ahmed is a tech ex

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors. >> to see if they can get basically a bail out. >> and bahamas, police are not the only ones looking into the financial dealings of ftx. the u.s. department of justice and the secretaries and exchange commission are also investigating the company live in the studio. gayle ong kron. 4 news. >> gayle, thank you. we want to get you a check of your 4 zone forecast tonight. it is a beautiful night in the bay area. this is a live look at downtown san francisco. things are very clear. so clear was great. looking walk through the hallways here in the newsroom. you're able to see the topic coit tower. just a good

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> u.s. police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> disney is planning to not only freeze hirings but cut jobs as well. in a memo sent to employees, the company ceo bob chapek says the layoffs are part of a companywide measure to cutting costs. chapek also announced a ban on all nonessential work travel. the hiring freeze pertaining to all, but a few key possessions. the news coming just days

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> and the hamas police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> in a police are searching for several gunmen who robbed a jewelry store in palo alto saturday afternoon. there is the hb jewelry store in the sand public town center on san pablo dam road near interstate 80. so several people went in. they rushed in the store. they robbed it, got away with a bunch of jewelry. we don't know exactly h

justice and the securities and exchange commission are now both investigating the company until recently fdx was one of the world's largest cryptocurrency exchanges valued between 10 50 million dollars. the winner of the biggest jackpot in lottery history has yet to claim the prize. the winning powerball ticket was worth more than 2 but billion dollars. and it was sold right here in california. the that makes the lump sum payment option almost 630 million dollars after taxes. the store owner who sold the ticket already got his 1 million dollars cut. the winning numbers were announced by the lottery last tuesday after a monday night delay. the winner has a year to claim the prize. next up here on kron. 4 news today. yet another round of layoffs for major tech company. how many employees? amazon says it plans to cut. >> also, a mountain lion spotted prowling on the this low where you need to keep your eyes open for it. also, another hurdle for president biden's student loan forgiveness plan leaving forgiveness plan leaving millions of students care coalition, where are we on alaska airlines? w

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> and us, police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> 9.33 is the time. and on friday, the miami heat and miami-dade county decided they were going to end their relationship with ftx. this opens the door now for the heat. serena to be renamed. the team's home court has been known as ftx arena since june of 2021 and the sponsorship agreement was worth 135 million dollars was supposed to last

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> and the hamas police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> well, on friday, the miami heat and miami-dade county have decided to end their relationship with ftx. and this opens the door now for the heat's arena to be renamed the team's home court has been known as ftx arena since june of 2021, that sponsorship agreement between miami-dade and ftx was worth 104. 35 million dollars. it was me

maybe putting a huge chunk of your net worth into, say, monopoly money bad idea i don't know the outfit fdx currency is the powerful force of crypto land having rolled up and rescued firms. there was supposed to be a bailout deal with a crypto exchange run by cz, also known as shang ping but that apparently imploded this very evening. i've been thinking, a historian buff here. people don't know that i put that out there this whole saga makes me think of a pair of financers that tried to corner the gold market in 1869 to see the plane collapse when grant had them flood the market with gold their broken conspiracy black friday in 1869 the worst financial panics america ever had. militia to avoid bank runs with many banks closing i mention them because they remind me of sbf and cz who seem to have more or less cornered the market with the same disastrous outcome it not going to bring the economy down people want to say it. i bring up 1869 because it was the worst and that was gold. this is not going to be like that okay there are similarities but not like gold back then crypto is unregulated a

he didn't get crypto and now sort of this commercial is coming back to haunt fdx explain a little bite about what's driving all of the uncertainty here and what are the implications of these investigations by both? the doj and sec. so. i you're dealing with a very volatile asset class and immature asset class. and i think part and parcel of where you need to get regulatory involvement is when the mainstream investor is involved , the consumer and really is ill prepared to understand that volatility. volatility is great and upmarket, and we all saw all those opportunities. but in the down market, um that's where you know you really see the impact to individuals who jumped in and may or may not be able to get their money out of these exchanges because of these liquidity issues, so of course, it's going to be regulatory concern and as a relates to f t x, and, um, and their related entity, um almeida research um you know, there are there are sure a host of conflicts of interest that may or may not have been disclosed, and doj and sec really need to understand what was what wasn't disclose

last week fdx was the second or 3rd largest crypto exchange in the world by volume. sam borghi editor at cointelegraph has been covering crypto since 2012. >> as for what's next for ftx. we wait. we we see what the investigation looks like. we see what they can resolve the hack. but right now it's not looking good. i think right now what sam bankman-fried trying to do is you try to raise more capital. there's been some conversations that he's going back to investors to see if they can get basically a bail out. >> and the hamas police are not the only ones looking into financial dealings of ftx. the u.s. department of justice and securities and exchange commission are also investigating the company in the studio. gayle ong kron. 4 news. >> on friday, the miami heat and miami-dade county decided to end their relationship with the crypto trading currency platform ftx. this opens the door now for the heat's arena to be renamed. the team's home court was known as the ftx arena beginning in june of 2021, a sponsorship agreement between miami-dade and ftx was worth 135 mill

totall y missing big liberal democrat meets with sam bakeman, freed and does nothing about this corrupt fdx. >> yeah, i mean, at this atat this point, i think we can conclude it's maybe it is . yeah.up .exactly. e rest o i think thisf guy is going to o to jail for the rest of his life. i don't see any way. end up.'te her way. i wonder if he's going to travel to new york. that's all right. but he was just hailed as this cool bahamas like thirty years old, billionaire. he's a crusadeire,r for justice and giving money to all these democrats. has d. huge frau so many of the democrats i went to the bahamas crypto conference. biwas there and he's there with bill clinton and other elites and he's wearing a pair of baggy shorts and a dumpy hair and leaning over most uncomfortable dude you've ever met who would give him millions orgive billions of dollars to r this. he's saying he's still tryingyi to raise eight billion dollarsnh . that's the wild thing to think about, is that they gave him this much money to start with and they appear to haveingo been no guardrails.ie he's running two different al