david: what do you think actually happened to ftx? you have been quoted as saying you think there was more than just occasional bad bookkeeping. you think there was more to it than that, is that right? brian: that is right. and, you know, obviously, i am sitting here as an outsider, but it seems pretty clear to me it was not just a run on the bank or poor management of funds. it appears they took customer funds from their exchange and actually comingled them or moved them into their hedge fund and then ended up in a very underwater position. and that was, i believe, against their terms of service and against the law. so, from my point of view, it looks like a massive fraud. we know that because of the -- because they turned off withdrawals of customer funds which should have been held at one-to-one were not able to be withdrawn. that appears to be fraud from my point of view. david: in your view, will the ftx bankruptcy hurt the industry and maybe produce enormous amounts of regulation that you may not want? brian: well, i do think th

maybe you heard about his crypto exchange ftx or his trading firm alameda research, or maybe you justwind of the fact that one of the biggest rising stars in tech and finance was a guy who looks the way cheeto dust smells. [ laughter ] i mean, look at -- that dude looks like an albuquerque dogwalker at 6:00 a.m. [ laughter ] "come on, nacho, buddy do your business, bro. [ light laughter ] he looks like he should be playing seth rogen's burnout son in a judd apatow movie [ light laughter ] somehow this guy tricked the world's most influential people into believing he was a crypto visionary. most international criminals have ice water in their veins, not bong water and yet he even managed to convince the likes of bill clinton and tony blair to appear on stage with him at a conference in the bahamas where ftx was based. i mean, look at the disparity between them [ light laughter ] here's a tip if you ever find yourself sitting on stage in the bahamas in a suit, and you look around and notice you're sitting next to someone who's dressed like they forgot to change after gym class, that's s

his company, ftx, collapsed in november owing billions of dollars to investors.ld face up to 115 years injail if convicted. bbc panorama has a new film out today on iplayer about his dramatic downfall. sunil kavuri, from the east midlands, is thought to be the largest british victim of the company�*s collapse. when officially they said the withdrawals are being stopped then i completely went sick. ijust thought, oh, my god. that�*s it. i�*ve lost everything. and how much money? $2.1 million. joe tidy is here to tell us more about what went wrong. what happened to sunil? he was one of many people using ftx two trade pounds and dollars into crypto currency. it was the second biggest in the world and when the company started unravelling last november it went from a position of strength with sam bankman—fried, very high profile and well trusted as the head and find out, bit of a hero in crypto communities all came come down within about eight days and sunil was one of many investors around the world who was left without his money or his crypto coils and there are lot

you have to look at his mother closely, other ftx employees guilty to campaign finance laws. basically a legal expert and democrat activist who runs her own tax so she knows exactly what you can and can't do and it's clear this 31-year-old was being manipulated or at least encouraged by her to do this. >> let's stay on that because the allegations sam bankman-fried mother was his person of political donations and encouraged her son to donate reportedly tens of millions of dollars in ftx money to politicians including her own pack she shared but to do it strongman donors meaning other ftx executives to avoid federal campaign disclosure laws, they are gaming the system here if the allegations are true. they say it is false. >> they are naming the system and they have the means, knowledge and experience. both sam bankman-fried parents. this was in november, the idea the democrats second biggest donor, the democrats response was similar, republican scott some money, they want the description of the road because when it talked about campaign finance laws, which airbase doesn't lik

briefly worked with the ftx foundation to provide administrative services.uit looks to claw back 26 million in gifts and luctionry relationship alleging ftx exploited to enrich themselves. for example ftx mother barbara freed allegedly advised her son to violate campaign finance laws by using a strawman to don't to campaigns. many perks privately chartered jet and giving donations to stanford which the school is now returning. when bankman was unhappy with his ftx valerie he pressured his son continue to crease it to $1 million. the lawsuit this email where he calls on ftx mother for support gee, sam, i don't know what to say here. >> this is the first i have heard of the 2,000 a year salary putting barbara on this. lawyers for the couple argue the allegations are not true telling fox business, quote this is dangerous attempt to intimidate joe and barbara and days before their child's trial begins these claims are completely false. ftx new management shares they recovered 7 billion of 8.7 billion in customer funds with suits like this seeking to make up that

they say the parents exploited their access within ftx to enrich themselves and that ftx's mother advised laws using a straw man to funnel political donation. the attorneys for the couple said they are false. mr. wray are running up countless dollars in fees and getting little to ftx clients no better. their son's trial is expected to get underway in two weeks. the wild anecdotes that we can expect. >> bill: we'll see where it goes on ward. live in los angeles. >> dana: an interesting plot twist there. arabella, the dark money and you will see it a lot in the next -- >> bill: you thought this case was hot in the beginning. then it went away. then it got hot again, all right? they're still working to resolve it. >> dana: california has big problems. >> we've been threatened and yelled at. people trespass on our property during the day and at night while we're sleeping. people do drugs in our front yard. >> dana: growing sense of danger and fear hanging over california as the state's homeless crisis goes from bad to worse. sacramento once a beautiful city known for its stunning sensory is i

partner company and as for ftx out of those funds bought them $16.5 million home in the bahamas.as gone says it was used by sam bankman—fried and other insiders as a piggy bank for his parents and it helped perpetuate and benefit his fraudulent largess. the documents also mention his father alan joseph documents also mention his father alanjoseph backman who is a us tax law expert and professor at stanford university said he had served as an advisor to ftx and played as an advisor to ftx and played a key role to cover up many of these allegations that would have exposed this fraud. they say you hope —— helped to quash an internal complaint about price manipulation aired in 2019. the mother of sam bankman—fried barbara also a professor at stanford university they say he helped —— she helped direct her son �*s political donations and obscure with the source originally came from according to these filings. let's go back because this has been the fall of the company that led to the arrest of sam bankman—fried he was once the king of crypto as some people used to call them. us prosecu

caroline: that story turned into ftx and we will give a heavy-duty dose as sam bankman-fried will be trial for the biggest financial frauds in history. let's take the pulse of how it feels in the world of digital assets. you have been reading and writing one year on and it does not seem to upbeat? >> the story we had out today subset up nicely. it has been miserable has been a quote. there are a variety of reasons for that. on a personal level a lot of people who work in crypto or did had just really been doing a lot of soul-searching. their friends and family reaching out to them and asking them why are you in this business? is this just a big scam? we talked with one guy who started an analysis tool for the blockchain and he said that whenever the topic comes up among his family what he is doing with his career there is suspicion and skepticism towards this asset class that's gotten worse and worse since ftx blue -- blue up. venture capital investments in the spaces around 7 billion year to date. in the heyday of 2021, those values were 30 billion. the money coming in from retail i

alix: when you were there was there a relationship with ftx? that did not fail was the piece that was regulated by cftc. when ftx failed the one piece of remain valuable was the peas subjected to regulation. what regulators need to do is bring this technology into the regulatory envelope. sonali: on one hand people are worried about nonbanks in the crypto industry, hedge funds, this levered trade markets. these positions have gotten meaningfully bigger. we've heard they've leveraged the system 100 to one and sometimes. chris: this was something i wrote about at the cftc, i wrote about this in 2016 we have a major problem developing liquidity and some of our most fundamental marketplace including the treasury market. part of that is one of the unintended consequence of the dodd act. they moved away from the role of warehousing treasuries and making them available and holding less inventory. the new players into the market, are in the market but they're out at night. we don't have the same liquidity. a policymaker will see stablecoins as a new so

if remember, ftx imploded last november.almart is cutting starting pay for new employees for entry—level store workers. the change took place mid—july and a spokesperson said the new wage structure will not result in any pay cuts for existing employees. the retailer is the biggest private employer in the us and it is a closely watched company for economists and industry leaders. shares of apple are sliding after reports that china is banning the use of the iphone by government employees. shares fell almost 3% when markets closed on thursday following a 4% decline on wednesday. the ban was reported by the wall street journal citing sources and the outlet said staff have been given instruction through workplace chat groups. it is still not clear how widely the orders are being distributed. apple is one of america's most valuable tech firms relying on china both as a major market as well as a production site. working from home versus back to the office, the dilemma facing many companies and employees that they try to adapt to t

crypto firm ftx. >> the parents of ftx u.s. disgrace founder sam bankman-fried allegedly organized the donations of more than 5 million dollars to stanford joseph bankman and barbara fried or both professors at stanford law school and allegedly wanted to use the money to boost their professional and social status. bankman-fried's fraud trial is set to begin next month. he has pled not guilty. california senator alex padilla is introducing legislation to help make it easier for college students to access snap benefits the opportunity to address college hunger act would require schools to notify parents in work. study programs of their eligibility for benefits and provide those students with the necessary documents to a plot. only about 127,000 college students in california received snap benefits before the pandemic. but an estimated 690,000 were eligible. the bill says that about 60% of eligible students did not receive benefits mainly because of stigma, lack of awareness or the burden of the application requirements. >> coming

this is the fourth ftx executive, ryan salem was the co-chief executive officer of ftx digital markets. he is in court right now. sam bankman-fried's trial is kicking off in early october, but ryan salem officially pleading guilty to those criminal charges. >> okay. kate, thank you. kate rooney with the latest there. >>> shares of apple trading lower, extending losses on the back of china's reported iphone ban for government officials. that stock is suffering its worst back-to-back days in roughly three years. my next guest, though, thinks the setback in china among other headwinds are overblown. joining us live at post nine is wedbush's dan ives. good to see you. let's take the movement in the stock, in and of itself. what is happening? >> i think the biggest fear for apple has been the china exposure. i think the worry is that they were ultimately go to be caught in this cold tech war between u.s. and china. i think when you look at these reports, now it is 20% of iphone sales, 98% of actual production, could this disrupt the golden jewel of the cupertino growth story. >> could it? >

. >>> more legal action in the collapse of crypto firm ftx. sam bankman-fried's parents, both accused of exploiting their influence on their son's company including claims they accepted a $10 million cash gift and a luxury home in the bahamas before ftx fell into bankruptcy. now the company is trying to claw back millions of dollars from them. the lawsuit claims they ignored red flags their son was committing fried. bankman-fried has pled not guilty to charges he misused customer funds he was staying at his parents' home in palo alto until a judge ordered him to jail last month. >>> president biden and ukrainian president volodymyr zelenskyy spoke at the u.n. general assembly today. the focus for both leaders, support for ukraine's fight against russian aggression. now the president of iran addressed a gathering of global leaders, and his address came as five americans landed back on american soil. alice barr has more from washington. >> reporter: president biden addressing world leaders at the united nations general assembly in new york tryin

former ftx exec ryan salem joined ftx in 2019 and was a prolific little cool donor.sche, opened restaurants while on the job. he was the co-ceo of ftx bahamas subsidiary. he report -- he reported to court with bitcoin socks. also admitted in court to making roughly 24 million in donations in support of republican campaign, saying he knew it was prohibited by campaign finance laws and the money came from alameda's account, not his own. as part of the plea deal he pled guilty to two counts, one count of finance violations in another counts of money violation. he agreed to surrender more than a billion and a half and assets. the plea deal, this is what many were speculating, would he or would he not testify against sam bankman-fried. the deal does not include a promise to testify. sam bankman-fried was arrested in the bahamas in december of last year. what is fascinating as a result of bloomberg reporting is that it was ryan salem when the initial issue first came to the floor in the bahamas, who are initially contacting bahamian officials and specifically reported that

stanford plans to pay back millions of dollars in donations it received from collapsed crypto firm ftx. the parents of ftx's disgrace founder sam bankman-fried allegedly organized the donations of more than 5 million dollars to the university. joseph bank been and barbara free to both professors at stanford law school and allegedly wanted to use the money to boost their professional and social status. bankman-fried's fraud trail is our trial, rather is set to begin next month. he so far has pleaded not guilty. >> still to come, the new deal from california's insurance commissioner that make sure you can get coverage for your you didn't choose cat allergies. your hairline. or that thing where your knee just gives out for no reason. but... you can choose your doctor who will care for all the things you didn't choose. kaiser permanente for all that is you. it's started. it's... the side hug. tween milestones like this may start at age 9. hpv vaccination—a type of cancer prevention against certain hpv-related cancers, can start then too. for most, hpv clears on its own. but for others, it

when the money actually came from alameda research, the hedge fund arm of ftx. were made at the behest of former ftx ceo sam bankman-fried. bankman-fried's trial is set to begin on october 3rd. that's less than a month from now. guys, i think the biggest question is here, where did he get $1.5 billion? this guy has agreed to forfeit $1.5 billion? where did he get that money? >> i can think of a few places. >> i can, too. straight out of customer funds? >> during that crazy period, you don't think that's how this happened? >> this guy didn't earn $1.5 billion. he got it somewhere. he can turn over a couple of massachusetts homes he owns, his 2021 porsche, a business, some farm that he bought, but where did he get all the money? there's a piggy bank, right? >> the whole thing was a piggy bank but i assume he was getting paid in either -- was that partial equity in ftx he sold to other people? >> i read 15 stories trying to figure out where this guy got $1.5 billion. >> 50 billion -- >> 50 was the market cap. it was the imagined valuation. >> no, the market cap. >>

the parents of ftx u.s.graced founder. >> sam bankman-fried allegedly organized the donations of more than 5 million dollars to the university. joseph bankman and barbara fried are both professors at stanford law school and allegedly wanted to use that money to boost their professional and social status. they could freeze. fraud trial is set to begin next month. he has pleaded not guilty. going green for this year's iphone launch of its not just the color of the phone that we're talking about. rich demuro explains in today's tech smart. >> iphone 15 models are now available. we're going to get them connected, activated and ready to call right here in the store. one of the most common questions is whether to go to your wireless carrier or to the apple store. anything you can do it, your carrier. we can do that at the apple store this year for new models of the iphone 15 and although green is a color choice, it's also a major push from apple to make its products carbon neutral by 2030, on the form on those use

the parents of ftx founder sam bankman—fried are being sued for allegedly holding millions of "fraudulently misconduct at the company. bankman—fried's father served as an adviser to ftx and his mother helped direct her son's political donations, according to filings. attorneys for the parents said the claims are quote "completely false." us presidentjoe biden�*s son, hunter, will plead not guilty to three criminal charges relating to a gun purchase he made in 2018. that's according to his lawyer. the younger biden was indicted last week for possessing a gun while he was an illegal drug user and lying to buy it. if convicted, he could face up to 25 years in prison. a russian court declined to hear an appeal from wall streetjournal reporter evan gershkovich — returning the motion to a lower court. gershkovich has been detained in a moscowjail on espionage charges for nearly six months. if convicted, gershkovich faces up to 20 years in prison. you're live with bbc news. azerbaijan's armed forces have launched what they're calling an anti—terror operation in the disputed region of nagorno—karab

that is because the problems with ftx are everywhere in crypto. that is with customer money that was supposed to be safe. ftx is the biggest and ugliest. for consumers it is millions of dollars gone. but some still flock to this to fund trafficking and human terrorism. we have to clean up and fraud. i am glad the sec is using is law to crack down on the abuse of this. and the economy and markets move forward and the sec must move forward adding americans first. americans who work hard and scrimped to save for their family futures deserve to invest in markets that are fair, transparent, and honest. i look forward to how the sec is working to protect investors. thank you. >> thank you for being with us today. i've been calling for this hearing since february 14 when the community headed -- committee had in overhearing -- it -- a lot happened since your last appearance last september. when it comes to the sec we had to wait a whole year to speak with you in person even when a company like ftx collapses we still have to wait. timely correction to inqu

before ftx collapsed because the parents of ftx's disgraced founder sam bankman-fried, the parents organized these donations of more than 5 million dollars to stanford because the parents, they are professors at stanford law school and apparently they wanted to use that money to boost their professional and social status. their son bankman-fried's fraud trial is set to begin next month. he has pleaded not guilty. president biden is going to be in the bay area next week. you're looking at video from one of his last visit. he'll be visiting san francisco, told a meeting with the president's council of advisors, science and technology. the president will also participate in to campaign receptions. california has reached a deal to have insurance company start selling homeowners policies. again in fire zones. sure. it's commissioner ricardo, lara. now it's companies have agreed to insure properties in hills and canyons. so many insurance companies, they've stopped selling policies in our state. now they've gotten concessions from state regulators. companies like allstate state farm are requesting

how do you see in china -- you trying to recover funds from ftx?t are you hoping to see out of the trial? matthew: all of us are looking forward to being able to move on as an industry, including ourselves, who are disappointed by the events that happen. but the fact remains this is a disruptive technology with a bright future. we are looking forward to being able to continue to talk about the consent -- the exciting work. annabelle: talking about the work you are doing in web3, how much needs to be done further to articulate the use cases? matthew: a lot of times we are trying to talk about niche use cases, people who work in the space full-time. we need to focus on simple wins. stablecoins are a powerful concept that normal people can understand. that is a great way to articulate what we are doing in web3 even though it is a little boring for people who work in the industry full-time. i love to start with that example and have conversations like, what is the last time you made an international wire? what was that experience like? was it a big has

it received from bankrupt cryptocurrency exchange ftx.ter a lawsuit against the parents of ftxs founder sam bankman-fried claimed the school received millions of dollars in donations, both of bankman-fried's parents are stanford law professors. the lawsuit claims joe bankman donated more than $5.5 million in ftx fund ends, that is to stanford university city and amazon's grab and go technology is coming to some retailers shoppers can soon go into select stores, walk in, grab what they want and walk out the door without checking out special tags, identify the items and an exit gate scans the tags and rings up the bill, and then to exit the customer scans their credit card or waves their hand over the amazon scanner. the technology is already in use at 155 stores across the world. it's expected to expand amazon says you will soon, soon see them at airports, sports stadiums and colleges, including some california state university campuses. i'm pam cook. that's a look at your dollars and cents all right, pam, thank you. time now, 748, a san f

that happened with ftx. this doesn't quite smell right, the whole world of crypto and how quickly sports is wanting to have a partnership with it >> well, i had started looking into it about ten years ago. there was this website called silk road that was basically an open-air drug market on the dark web, but real drug dealers don't sell drugs on the web. so you knew it wasn't real drug dealers, but they were making all their trades with bitcoin, and then the fbi showed up and then all these not actual drug dealers panicked. and i was like, "well, tell me more about this bitcoin. and then i raised the question, why would i trade my money for money that's not money, right? like when i go out of the country, i take my money, and i trade it for other money you're telling me that i got this money that works perfectly well, and i'm going to trade this for some other money because this other money might be worth more. well, what's going to make the value of that other money go up? i'm going to tweet about it, right

the managers of the bankrupt crypto exchange ftx are suing the parents of sam bankman-fried.he expense of its victims. ftx fell apart last november with $8 billion in debt and what prosecutors allege it was one of the largest financial frauds in u.s. history. -- accidentally caught a glimpse of microsoft's future video plans after the tech giant mistakenly provided confidential information to a federal court website. the details are part of the ftc antitrust lawsuit of their takeover of blizzard. including unannounced gains and a refreshed xbox console. that information has since been removed. thanks including city, and others are set to be looking into financing a $15 billion program to protect indian ocean habitats. one of the environmental groups behind the push say the banks have discussed bonds and circled nature spots. it would feed into the great blue wall initiative which is also backed by the united nations. shery: take a look at how some of the stocks we are watching ahead of the market opens in hong kong and mainland, country garden before passing a initial debt de

for managers of the bankrupt crypto exchange ftx suing the parents of sam bankman-fried.y accuses them of receiving millions of dollars at the expense of its victims. ftx fell apart when $8 billion of debt, and what cost -- prosecutors allege was one of the largest financial frauds in u.s. history. consumers accidentally carted limbs of microsoft's future giving to games -- future videogame plans. they details were part of the ftc's antitrust suit against the takeover of activision blizzard including unannounced games and a refreshed console. information has since been removed. next on daybreak australia, hearing more from our exclusive interview with the indonesian president. ♪ hi, i'm jason. i've lost 228 pounds on golo. so when my doctor told me i needed weight loss surgery, i knew i had to make a change. golo's helped me transition to a healthier, sustainable lifestyle. i'm so surprised just how crazy my metabolism has fired up. i have a trust in golo 'cause i know it works. golo isn't like every other program out there, and i'm living proof of it. (announcer) change

staying in the us — the parents of ftx founder sam bankman fried are being sued for money they allegedlyoperly from the crypto firm ahead of its collapse. in a filing, managers at the bankrupt firm accused the couple of holding millions of dollars and of turning a blind eye to misconduct at the company. the action was filed on behalf of those owed money after the firm's failure. the fall of the company led to the arrest of mr bankman fried last year. now to smartphones in china — where a bit of a buzz has started in industry circles, after chinese tech giant huawei recently unveiled 5g phones with locally—made chips. the new phones surprised analysts who had earlier speculated that curbs on imports of mobile phone chips to china would slowdown production and roll—out of new topline smartphones. an event in shanghai this week, huawei connect 2023, sponsored by the tech giant, could give us more clues on what's next from the company. marc einstein is a technology analyst who covers huawei, and he says the company's technology still lags far behind that of its western rivals. so if we look

he was the co-chief executive of the ftx bahamas subsidiary before they imploded last november.s narrowed its federal lawsuit against florida governor ron desantis and his political allies. the lawsuit now focuses only on the first amendment claim the company was subject to retaliation for criticizing the republican's policies. the company dropped claims to santos and his allies reached -- breached disney's -- and violated due process. coming up, chinese president xi jinping will be noticeably and -- absent at g20 as other world leaders prepare to make their way to new delhi. former u.s. ambassador joins us next. this is bloomberg. ♪ so... i know you and george were struggling with the possibility of having to move. how's that going? we found a way to make bathing safer with a kohler walk-in bath. a kohler walk-in bath provides a secure, spa-like bathing experience in the comfort of your own home. a kohler walk-in bath has one of the lowest step-ins of any walk-in bath for easy entry and exit. it features textured surfaces, convenient handrails for more stability, and a wide doo

literally, ftx was going to get green lighted to do some sort of sec-approved exchange -- liz: beforeous meetings with gary gensler, and then something like this happens or something like coinbase happens and, you know, the sec goes after coinbase but doesn't go after ftx because coinbase, after they go through the ipo process, you know essentially what's under the hood. liz: right. >> this is a bizarre way to regulate this industry which isn't going away. liz: does this mean for spot bitcoin etfs that that they're going to hold everybody up so they can make everybody catch up and be happy and then -- >> my view,they're like, you know, wringing their hands on this product which is essentially all but approved because they're allowing futures etfs out there, right, for qualified investors, they're never going to approve a spot bitcoin etf. i know, listen, larry fink is very plugged in in the biden administration, i'm sure he's making calls, but i don't think that's ever going to happen. liz: it sure is interesting that the others watched and saw you finish the. >> saw you. it's your re

>> in my own personal opinion, seems like ftx news has gone a little stale and i think investors andn the market seems to be more focused on what's to come in the future. especially considering next year a very important event is happening in the bitcoin world. the bitcoin having a supply shock and all the sudden the amount of bitcoin coming into the market is reduced and that's going to be something that people are focused on over the next few months and understanding that there'll be less bitcoin in the future. kelly: that's a great point to bring up and something we're keeping our eye on. thank you for joining and yous good luck with the new program. >> thank you so much, kelly, for having me on. kelly: later this hour, charlie gasparino joining me with more details on the sec's delayed decision on the spot conditions we talked about and investors torn on crypto today and they seem pretty sure about one thing with electric vehicles and fires are going pedal to the metal and china's ev makers in particular and they have record breaking results. plus, wall greens is deeply in the re

in turkey and in america, one of the managers of ftx exchange received their sentences from the courts of these two countries . the founder of tokes exchange was sentenced to 1000 years in prison in turkey and persepolis. turki qadr of albania was arrested and 4 months ago turkey was handed over, the turkish authorities accused farouk fateh ezra of fleeing with two billion dollars in assets of about 400 thousand users . it takes time, then it suspended its activity overnight. this exchange created a big advertising campaign to attract investment and promised them luxury cars. donations a politician in this exchange accepted the charge of violating campaign finance laws and was fined one and a half billion dollars, one of the executive directors of company x was with us , illegally participating and defrauding the federal election commission and trying to run a business and he confessed to transferring money without permission. according to salam, these transfers were classified as loans, but they were not repaid. according to the court ruling, salam is obliged to pay more than five and

the former executive brian salem is planning to plead guilty to criminal charges over the collapse of ftx co-chief executive before the exchange imploded last november. let us bring in someone who has been across it for more and given the other key executives gone before, this is not too much of a surprise. sonali: the thing that is potentially different is how much he will comply. many morrison has been complying with the role -- has been focusing on his role in this. when the initial issue came to the floor, it was brian salem who had really brought the case to bohemia -- bahamian officials. and so to come back around in this fashion is quite interesting because even though he may plead guilty to certain charges, criminal charges it is not sure what his cooperation will be. ed: the timing is interesting because sam bankman-fried is scheduled to stand trial one month from now. does that contribute to that court case? sonali: it could, and the other folks who have come forward are cooperating. whether or not he does testify, it adds an element to this trial. remember, i want to talk about

he was a co-chief executive of ftx is bahamas subsidiary before the exchange imploded last november.federal lawsuit against federal -- florida governor ron desantis and it focuses on the first amendment claim that the company was subject to retaliation for criticizing the republicans policies. the company dropped the claims that desantis and his allies breached disney's rights to property without compensation and related due process. -- and violated the process. we are looking at hong kong and the heaviest rainfall recorded in 140 years. it has brought much of the city to a standstill including the stock market. let's get over to richard frost with more on this. how bad is it? it was terrible thing to get into work. richard: i mean, it was a historic amount of rain that felt in a very short period of time and the damage that we are seeing emerge on social media and through what witnesses talk about is of a kind of extent we have not seen in recent decades in hong kong. hong kong is used to typhoons and heavy downpours during the summer but reign of the scale is extreme the rare and c

ftx is out of business and chased binance out of america and charged them both the head guy and the business regulators put charges on them. he's running around the world trying to catch him. who knows where. this is what's frustrating and why the senators and governors, men and women in law making are unhappy. we're letting innovation slip away. let me give you a good example. this hasn't been announced yet, but in abu dhabi, they're planning the launch of new exchange to replace both ftx and binance and they're going to get billions called m2. totally compliant, backed by billions of dollars in credibly stable ownership transparency and can be used by anybody in the world legitimately on a compliant basis. where do you think all this innovation is going to go? it's going to go to the uae. it's going to go to abu dhabi. it's going to become the new standard in exchanges because you can't hold bitcoin without an exchange forly quitty and -- for liquidity and gensler shut down bitcoin and abu dhabi is putting up its hand and saying we can do it over here. if you can't get it done there, we'll

in a new lawsuit, ftx accuses mini's mom of being a point person for many's strategy.hat would look so she would tell mini and his team to avoid federal campaign finance disclosure rules by engaging in strong donations or otherwise concealing the ftx group as the source of the contributions. joe bankman, mini's dad, he commanded his son pay him a million dollars a year. many also demanded he get to meet larry david, which he did. mini also about his parents a house and paid for landscaping, and help to the democrats get i like that. it is all in the family. where have i heard that before? ♪ ♪ up next, the rise of carja carjackings. ♪ ♪ and breaking news about stinky sammy. ♪ ♪ (psst! psst!) ahhh! with flonase, allergies don't have to be scary. spraying flonase daily gives you long lasting non-drowsy relief. flonase all good. also, try our allergy headache and nighttime pills. oh, booking.com ♪ somewhere, anywhere... ♪ ♪ i just want to lie motionless in a chair! ♪ booking.com, booking.yeah ♪ ♪ rsv is in for a surprise. meet arexvy. ( ♪ ) the first fda-approved rsv vacci

. >> as the parent of ftxs founder sam bankman-fried now face legal troubles of their own. joe bankman and barbara fried live in palo alto. the company's current leaders are suing, accusing the parents of fraudulently misappropriating millions of dollars from ftx. in a statement, the couple's attorneys deny those claims. it claims the legal action is an attempt to undermine their son's trial days before it's set to start. sam bankman-fried has pleaded not guilty to multiple charges of fraud and conspiracy . it's national voter registration day tonight, a look at the efforts to get people registered. >> of course, that's only half the battle. >> also ahead, the requests that are coming in for graffiti on private property, and that's up almost 74. >> and we'll take a look at what it will take to clean up san francisco's both simple and life-changing. what's not a choice? addiction to opioids like fentanyl. but even with opioid use disorder, you still have a choice. by choosing treatment, you choose family, your career and your life on your terms. choose change, california, an

the market made tradable lows when ftx collapsed.se tradable lows were people were forced to sell bitcoin and it pushed prices down to the 15th. there was strong natural buying demand that bumped it up. since that point, we have had several attempts recounts. most of those, the first big one was on blackrock first filing in this one yesterday. basically, what you have is speculators buying and selling on the margin. the important step to take -- to keep in mind is $.75. 75% of all bitcoin have not moved for a year. long holder percentages are way up and it has been steadily increasing for a while. you have certain people who i will label them smart money who are long-term buying on the basis of effectively potentially large outsized returns relative to risk in the long run. in the short run, those same people are patient. they don't chase prices. when these big changes happen, the only thing that will make the long-term holders participate is quite frankly it not coming back down. they need confirmation of that. in bitcoin, a lot of

the parents of ftx disgraced founder sam bankman-fried allegedly organized the donations of more than 5 million dollars to the university, justin bateman and barbara fried or both professors at stanford law school. they wanted to use the money to do professional social status. bankman-fried's fraud trial is set to begin next month. he's pleaded not guilty. well, several bay area schools, they were included in this year's national blue ribbon schools recognized by the department of education for their overall academic performance and the progress in closing achievement gaps among students. those schools include john hall chan elementary school, jose ortega elementary school and you all elementary school in san francisco unified school district and middle college high school in san pablo, national blue ribbon school award recognizes efforts of students, educators, families and communities. all right. coming up on the kron, 4 morning news officials in the east bay are addressing that toxic martinez refinery released last year. we'll be right back. contra costa county's health. there are

ftx is melting down, and i just want to comfort investors out there by saying, i told you so okay [ lightter ] crypto is stupid, and we black people never trusted it. >> seth: so why do you think black people never trusted it? >> well, first of all, we are naturally skeptical about everything a white man tells us. [ laughter ] for example, when you hired me to be on the show, i thought you were playin' [ laughter ] i'm so paranoid, i still don't know if i really work here [ light laughter ] as a matter of fact, i never unpacked my bags are right there. >> seth: that's ridiculous, jeff you've been here for two years now. >> ah, interesting you're really keeping track, aren't you [ light laughter ] anyways, we don't trust crypto because it's inconsistent. black people only recently started getting money and building wealth in our own communities, and what did white people do? went and changed what money was. just created a whole new currency [ light laughter ] you can't create a new game when we just learned this one it's like the makers of uno coming out with the game dos [ laughter ] why

. >> give back millions of dollars in donations that are received from the crypto firm ftx before it collapsed because the parents of ftx's founder sam bankman-fried allegedly organized these donations of more than 5 million dollars to stanford because the parents, joseph and barbara, they are professors at stanford law. and allegedly one of the use the money to boost their professional and social status. the sun bankman-fried his fraud trial is set to be in next month. he has pleaded not guilty. several bay area schools are included in this year's national blue ribbon schools recognized by the department of education because of their overall academic performance and closing achievement gaps among students. the schools include john elementary school, jose ortega elementary school. you elementary school in san francisco. and middle college high school in san pablo, the national blue ribbon school award recognizes the efforts of students, educators, families and the communities contra costa health or host a public meeting next week. we're going to talk about a report on the hazardous m

and wildlife says that dungeness crab season is still set to begin november 4th with the parents of ftxsnder sam bankman-fried are now facing legal troubles of their own. >> joe bankman and barbara fried live in palo alto. and the company's current leaders are suing them, accusing the parents of fraudulently misappropriating millions of dollars from ftx. in a statement, the couple's attorneys deny the claims. the company claims the legal or the parents, i should say, claim the legal action is an attempt to undermine their son's trial. just days before it's set to start. sam bankman-fried has pleaded not guilty to multiple charges of fraud and conspiracy . millions of dollars on the way to fortnite players. this is from a claim in a government settlement with epic games. the company that makes fortnite agreed last december to settle a us government complaint that users were misled into making unwanted purchases. the ftc also said the game made it easy for kids to buy items without their parents consent. epic agreed to pay out $245 million in the form of refunds. so now if you've been affe

stanford university plans to pay back millions of dollars in donations that it got from crypto firm ftx before fdx collapse. the parents of ftx founder sam bankman-fried apparently organized these donations of more than a 5 million dollars to stanford. joseph and barbara are both professors, the parents at stanford law and they want to use the money they say to boost their professional and social status bankman-fried the sun. his fraud trial set to begin next month. he's pleaded not guilty. 5 greater bay area schools are included in this year's national blue ribbon schools recognized by the department of education. let's take a look at those schools and their achievements that they've made for students. they include john yea hall shun elementary. jose ortega elementary school. you low elementary school, middle college high school and stockton's middle college high. the national blue ribbon school award recognizes the efforts, students, educators, families and communities contra costa health. they're going to host a public meeting next week to talk about the hazardous materials that were