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Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court on August 11, 2023 in New York City. Michael M. Santiago | Getty ImagesHeather Ferguson's son lost approximately $130,000 in cash when crypto exchange FTX went bankrupt in November 2022. Ferguson's letter is part of an eleventh hour push by the defense to appeal to Kaplan's sense of leniency as the judge gears up for Bankman-Fried's sentencing hearing on Thursday. Bankman-Fried's psychiatrist, George Lerner, told Judge Lewis Kaplan in a letter in August that the former FTX CEO has a history of depression and attention-deficit/hyperactivity disorder. Without his medication, Lerner warned the judge, "Bankman-Fried will experience a return of his depression and ADHD symptoms and will be severely negatively impacted in his ability to assist in his own defense."
Persons: Sam Bankman, Fried, Michael M, Heather Ferguson's, Ferguson, District Judge Lewis Kaplan, Yesha Yadav, Dean, Kaplan, George Lerner, Lewis Kaplan, Lerner, Maria Centrella, Asperger's, Judge Kaplan, Michael Lewis's, Sam I, , Centrella, Joe, Sam, Matt Kelly, Kelly Organizations: Manhattan Federal Court, Santiago, Getty, District, Alameda Research, Vanderbilt University, CNBC, Bankman, Autism, MIT Locations: New York City, Manhattan
Taylor Swift wanted to take up FTX endorsement deal, says author Michael Lewis. But Lewis said negotiations fell through after Sam Bankman-Fried "dragged his feet on the deal." Lewis wrote about FTX's talks with Swift in his new book on the rise and fall of the company. AdvertisementAdvertisementTaylor Swift may have signed an endorsement deal with FTX if not for Sam Bankman-Fried delaying the deal, per author Michael Lewis's latest book on the now-bankrupt cryptocurrency exchange. "FTX had an agreement with Swift to pay her between $25 and $30 million a year, but Sam dragged his feet on the deal," Lewis wrote.
Persons: Taylor Swift, Michael Lewis, Lewis, Sam Bankman, FTX's, Swift, , Michael Lewis's, FTX, Sam, Natalie Tien, Taylor, Fried, Tom Brady, Naomi Osaka, Adam Moskowitz, Moskowitz Organizations: Service, Bankman, NFL Locations: Alameda
Gone are the days when investors could win by simply buying technology stocks, Steve Eisman of "The Big Short" fame said on Monday. The sharp rise in yields could dent the appeal for equities and hurt asset prices, especially those for growth-oriented stocks. So they've invested in tech stocks, and they've invested in hyper growth stocks, meaning big revenue growth, no earnings, and valuation be damned," Eisman said. "I think the days of investing in companies that have no earnings or have multiples of 200 times will be gone." "I'm not saying you stop buying tech, I think you have to be selective, when you're talking about companies... that have high revenue growth and have negative earnings," Eisman.
The licenses gave FTX access to U.S. commodities derivatives markets as a regulated exchange. FTX also saw its regulatory status as a way of luring new capital from major investors, the documents show. “FTX has the cleanest brand in crypto,” the exchange proclaimed in a June document presented to investors. According to the document, FTX told the regulator it did not have the same issues as products from other providers that the agency had investigated. "We confirmed these were solely rewards based and do not involve lending (or other use) of the deposited crypto," FTX wrote.
The licenses gave FTX access to U.S. commodities derivatives markets as a regulated exchange. FTX also saw its regulatory status as a way of luring new capital from major investors, the documents show. “FTX has the cleanest brand in crypto,” the exchange proclaimed in a June document presented to investors. According to the document, FTX told the regulator it did not have the same issues as products from other providers that the agency had investigated. "We confirmed these were solely rewards based and do not involve lending (or other use) of the deposited crypto," FTX wrote.
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