nearly two years after it collapsed the us court has approved ftx's plan.creditors are expected to receive cash repayments with an average of 119% of what they had in their accounts at the time ftx filed for bankruptcy. the agreement and is a saga that started when the phone went bankrupt in november of 2022, leaving millions of customers around the world without access to their accounts. last year former boss sam and fred was convicted of stealing $8 million from customers. he was later sentenced to 25 years in prison. the lawyer in charge of ftx's bankruptcy process and the current chief executive said the plan applause a proven —— approval was a said the plan applause a proven -- approval was a significant milestone in efforts to repay the money to people and firms in more than 200 jurisdictions around the world. it has drawn a mixed reception, though, from some former customers who argue that crypto holdings would be worth a lot more today had they not been stolen stop the value of bitcoin has more than tripled since ftx collapse. finally, for fans of f

ftx planning to repay customers that had $50,000 or less on the exchange.ruptcy court documents and shareholders receiving up to $230 million from the $1 billion in funds seized and customers reimbursed at old price and november 2022 price. what about the investors that got to pile up the company and this is going to react and bravo founder and managing partner and orlando bravo joining me in the exclusive. first, orlando, i have to ask, is everybody safe in your company? >> i'm from puerto rico and we talk about that all the time. it's so different and the local government getting to and what the government helping and the things i saw and the displacement and going for homes and people not even having them with water and incredibly sad and personal and we're praying for all the people in tampa and going to be huge problems. liz: you've got a company you invest in in tampa; correct? this is a big office dealing in miami. >> it looks like miami is going to be okay and there's ambrette company connect and going for one of the best companies and so many great

. >>> now this, the former ftx engineering chief will be sentenced today.ring. lydia hu outside the courthouse in new york city. how much prison time is this guy looking at? >> reporter: stuart, he faces up to 75 years in prison according to the sentencing guidelines, but it's safe the say he'll very likely get much less than that especially when we consider that sam bankman if freed, the ringleader of this fraud, was sentenced to 25 years after he was convicted of taking roughly $10 billion from ftx customers. singh will now be the third member of bankman-fried's inner circle. we've had the former ceo or ftx digital, he got seven and a half year, and also the former ceo of sister company alameda research and bankman-fried's exgirlfriend, caroline ellison, she got two years. singh's attorneys are urging the judge to be lenient. they're asking for time served and supervised release which basically means no prison time at all, and singh's lawyers are underscoring sing h's what they call immediate and exemplary cooperation with the government. in other words,

really interesting news about ftx. you remember that whole crypto coin scam that left people who invested out of money? it was the whole sam bankman-fried debacle. well, the bankruptcy court says not only has it recovered essentially all the money and people will get their money back. they'll get their money back with interest. $1. 19 on every dollar. some credit should go to this guy, john ray. he is the new ceo of ftx and he specializes in fixing disasters. they put him in charge of enron after that company collapsed. ftx court documents say he gets paid $1,200 an hour. a falcon nine rocket just lifted off from florida, carrying a european union space probe that will travel out to an asteroid called dimorphos, millions of miles away. it's going to take more than a year to get there. dimorphos is the asteroid we hit with the dart space probe back a few years ago, to just see if we could do it. just that way. we'd know if we needed to divert an asteroid, we could. here's a clip of that. back in 2022. three. two. one. o

a usjudge has authorised a bankruptcy plan for ftx to return money to customers, using over 16 billionassets. the crypto exchange's collapse in 2022 left customers and investors facing billions of dollars in losses. most stakeholders will get their money back under the deal. turning to south korea, where samsung electronics has forecast an over 270%jump in its third quarter operating profit. despite this, the world's largest memory chip, smartphone and tv maker missed analyst expectations. it has struggled to tap into the strong demand for artificial intelligence processors. jung in yoon from hedge fund fibonacci asset management global gave us a sense of the road ahead for the company. the forecast for the third quarter earning was that it will record... quarter earning was that it will record. . .— will record... three's preservers _ will record... three's preservers before . will record... three's| preservers before the will record... three's _ preservers before the consensus that they're only 79 trillion won for sales and 1.9 trillion won for sales and 1.9 trillion won profits. if

a usjudge has authorised a bankruptcy plan for ftx to return money to customers, using over $16 billioncrypto exchange's collapse in 2022 left customers and investors facing billions of dollars in losses. most stakeholders will get their money back under the deal. the global head of uber says cheap chinese electric vehicles entering uk and european markets are ultimately good for the environment. he spoke to the bbc�*s business editor, simonjack, and said the company wanted to electrify its fleet of cars and that tariffs aren't helping. i think cheap chinese vehicles are a good thing for the environment. and i will tell you that china is transitioning from notjust being cheap, but also being high quality as well. and for us, we want to electrify our fleet and we want to make sure that it is affordable for our drivers to switch over to evs. now, the political considerations of tariffs, etc, are not something that we can comment on, etc, but ourfocus is on the environment, and we think chinese vehicles that are low cost, that are high quality, could be a very important part of the switcho

they might have been financed with some of the, the money from the from the exchange from ftx.ut and sell that. so that whole process took two years. and you're getting i don't know what type of return this is. 118 cents on the dollar is i bet you it's like a 2% return. yeah. okay. so you get a 2% return on an asset that probably appreciated 500%. yeah. and that's why am i making all those numbers up. and that's where that's where the anger is. but if you know anything about this process, like i said, this is my 15th ponzi scheme. they just come in, they shut everything down. it goes into bankruptcy. trustee. remember he was complaining. sam bankman-fried, that, you know, if he would just, you know, they just let him back in the office, he'd be able to trade his way out of it and find the money. but, you know, the guy, the guy, you can't trust him. he's a miscreant. he already screwed everybody. yeah. so again, not a not a good situation. you know, he deserves his eight years in jail. whatever he's doing. and she caroline ellison deserves her jail time as well. i think it's two

a court in the united states has approved a bankruptcy plan for the cryptocurrency firm, ftx, which willll come from $16 billion in assets recovered since the company collapsed two years ago. more on that story on business today. despite poor weather and an approaching hurricane, the european space agency has successfully launched a mission to study an asteroid system. it's all part of plans to protect the earth from any flying space rocks in the future, as pallab ghosh explains. go hera, go falcon, go spacex. on its way to an asteroid system 7 million miles away to develop a defence system to protect the earth from being hit by dangerous objects from outer space. it's to follow a nasa mission which tried to deliberately deflect an asteroid called dimorphos. nasa's dart spacecraft crashed into dimorphos two years ago. a telescope captured the dust and debris that was hurled into space. hera is on a two—yearjourney which takes it past mars and eventually to its destination. it's going to take a closer look at the damage with a battery of instruments. the spacecraft will come within 200 me

their last deal with ftx ended poorly with that company.hen that company went bankrupt. >> well, in weather. nice little quiet start so far this week with us. chilly start in the morning hours, but lots of sunshine into the afternoon. tomorrow will be just a little bit warmer, but no big changes to our forecast. you can see the bottom row. the highs from today. top row just a little bit warmer. that means lower 70s in san francisco and some more 80s in santa rosa, concord and san jose. so here is the plan for tomorrow. some patchy morning fog, increasing sunshine into the afternoon hours and temperatures actually kind of in that nice range 65 to 83 degrees. remember two weeks ago we were talking about all the excessive heat and last week we were getting ready for the red flag of fire warning. no more. no major warnings to speak of this week. here's a satellite where you can pick out some high clouds drifting into northern california, and we still have some patchy fog near parts of the coastline. although that cloud area has kind of been shr

pididi occupied the same wing of the jail that was once occupied by the famous crypto investor, ftx exchangeer sam benk manfrit. he donated millions of dollars to the democratic party at the time. here , socialite and right hand of jeffrey epstein, also accused of sex trafficking, ghislaine, was awaiting the court's decision. with her sex parties, did not live to see the trial. the only one whose reputation is definitely not threatened either by the list or in pididi's squeak is joe biden. trump has not yet asked about the scandal, although he is definitely familiar with didi's parties. but the presidential candidate published, and later deleted, a fake photo of kamal and haris hugging the rapper. the presidential candidate himself is always drawn to the headquarters of... the place of the assassination attempt, another election rally, the former head of state decided to hold the rally in the same place where he almost died during a speech last summer. elon musk also came to the rally in butler with trump. the wall street journal found out that the billionaire has been secretly donating tens

. >>> meantime, former ftx executive was sentenced to time served in three years of supervised releasee fourth now ex-employee of the collapsed crypto exchange to be punished. singh faced a maximum sentence after the judge noted his cooperation with the government was quote remarkable. the judge said he was persuaded that the fraud was not more limited than that of sam bankman-fried. the campaign finance scheme was unknown by authorities until singh brought to to the authorities attention. >>> and when we come back, the first on cnbc interview with robert davis. >>> as we head to break, look at yesterday's s&p 500 winners and losers. it all started with a small business idea. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. et the job done. i'm just here for the internets. at&t, it's super-fast! you locked us out?! and when thrown a curveball... arrggghh! ahhhh! [crashing sounds] we had everything we needed. is the internet out? don't worry, we have at&t internet back-up. the next level network for small business. ♪♪ i sold a p