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☆ Will Caroline Ellison get jail time for her role in the $11 billion FTX fraud scheme? Here's what the judge must weigh.
▼ + stars: | 2024-09-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Read previewOn Tuesday, a judge will decide what sentence to give Caroline Ellison, who pleaded guilty to conspiring with Sam Bankman-Fried in an $11 billion fraud scheme. Ellison's sentencing sets up a high-stakes balancing test. She still participated in a massive fraud scheme, after all, the value of which he put at $11 billion. Ellison was the SBF trial's star witnessEllison pleaded guilty to fraud and money laundering for her role in the FTX scandal. Because the Bankman-Fried case went to trial, Kaplan has a lot of information at his disposal when deciding Ellison's sentence.

Persons: —, Caroline Ellison, Sam Bankman, Lewis Kaplan, Bankman, Fried, Ellison, Kaplan, FTX, cooperators, Sarah Krissoff, Cozen O'Connor, Joshua Naftalis, That's, Naftalis, Fried JANE ROSENBERG, John J, Ray III, Ryan Salame, Salame's, Gary Wang, Nishad Singh, Ellison's, Krissoff Organizations: Service, Business, Alameda Research, LLP, Prosecutors, Fried JANE ROSENBERG Prosecutors, Securities Exchange Commission, Commodity Futures Trading Commission, Government, MIT, Bankman Locations: Bankman, Manhattan, Alameda, New York, Brooklyn

☆ Former FTX exec Ryan Salame returns to court after waffling on guilty plea
▼ + stars: | 2024-09-12 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Ryan Salame, the former co-chief executive of FTX Digital Markets, exits the Federal Court after sentencing in New York City, U.S., May 28, 2024. Former FTX executive Ryan Salame is back in court on Thursday, as Judge Lewis Kaplan looks for answers about the back-room dealings that led to Salame's criminal plea deal, which resulted in a 7.5-year prison sentence. Bond, who was previously a lawyer with the SEC, was indicted in August on campaign finance charges tied to her unsuccessful run for Congress in 2022. The four-count indictment against Bond was unsealed a day after Salame, the father of their nine-month-old child, asked Kaplan to void his plea. But Salame quickly reversed course, submitting a motion to the court within days to withdraw the petition to vacate his guilty verdict.

Persons: Ryan Salame, Lewis Kaplan, Sam Bankman, Kaplan, Salame, Michelle Bond, Bond, Fried Organizations: FTX, Salame, Manhattan U.S, Attorney's, SEC, Prosecutors Locations: New York City, U.S, Salame's

☆ Judge considers revoking guilty plea of FTX executive Ryan Salame, accusing him of lying under oath
▼ + stars: | 2024-09-12 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

US District Judge Lewis Kaplan scheduled the hearing after Ryan Salame, a former executive of Alameda Research and FTX Digital Markets, tried to withdraw his guilty plea. Salame said prosecutors broke a promise to him by later indicting his romantic partner, Michelle Bond — a claim that prosecutors vigorously disputed. Instead, Kaplan grilled Salame under oath for over 30 minutes in his Manhattan courtroom Thursday morning, accusing him of misrepresenting the plea negotiations. That left Kaplan in a bind: Either Salame lied in his plea hearing, throwing the plea into doubt. Bond would not be pursued if I plead guilty," Salame said.

Persons: —, who's, Lewis Kaplan, Ryan Salame, Salame, Michelle Bond, Kaplan, Sam Bankman, Salame didn't, Bond, FTX, Mary Altaffer, wasn't, Danielle Sassoon, Christopher Bartolomucci, he'll, Salame's Organizations: Service, Alameda Research, FTX, Markets, Business, Prosecutors, AP, US, Office, Southern, of Locations: Manhattan, Alameda, of New York

☆ Ex-FTX exec's girlfriend accused of using his money to illegally fuel her political career
▼ + stars: | 2024-08-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

According to an indictment unsealed Thursday, Bond had a fake consulting agreement with FTX, the notorious cryptocurrency exchange run by Sam Bankman-Fried. The $400,000 she received — along with gobs of more stolen money from FTX — fueled her congressional campaign, prosecutors say. The charges against Bond come one day after she finalized a divorce with her previous partner, according to Salame. In total, Salame and FTX gave Bond over $900,000, according to the indictment — far above the legal limits. AdvertisementAccording to prosecutors, Salame even once asked a friend to donate to Bond's campaign, who joked about Salame reimbursing them.

Persons: —, Michelle Bond, Bond, Sam Bankman, Ryan Salame, Salame, Gary Wang, Nishad Singh, Caroline Ellison —, Wang, Singh, Ellison, Prosecutors, FTX, that's, Salame didn't, Lewis Kaplan, Danielle Sassoon, Bond —, Sassoon, Judge Kaplan, He's Organizations: Service, FTX, Business, Federal Elections Commission, US, Republican, Digital, Alameda Research, Justice Department Locations: Manhattan, Bahamas, New York's, Long, Bankman, Salame

Convicted former FTX executive Ryan Salame's domestic partner Michelle Bond has been indicted in New York on federal charges accusing her of conspiring to raise unlawful campaign contributions from FTX for her unsuccessful run for Congress in 2022, prosecutors announced Thursday. Salame and Bond met in June 2021, and were in a relationship by early the following year, according to the indictment. The indictment alleges that Salame, identified only as CC-1, conspired with Bond to commit the crimes, saying that Salame arranged the payment from FTX to Bond. She then allegedly used "almost entirely" all of that money "to fund her campaign illegally," the indictment says. Salame's lawyers claim prosecutors reneged on an agreement to drop their campaign finance probe of Bond as an incentive to get him to plead guilty.

Persons: Ryan Salame's, Michelle Bond, FTX, Damian Williams, Bond, Salame, Bond's, Baker, Sterling Marchand, Marchand Organizations: Manhattan U.S, New Locations: New York, FTX, Potomac , Maryland, New York's, Long, Washington, Manhattan

Ryan Salame, former co-chief executive officer of FTX Digital Markets Ltd., exits federal court in New York, US, on Tuesday, May 28, 2024. Ryan Salame, a former top lieutenant at the failed cryptocurrency exchange FTX, asked a New York federal judge Wednesday to void his guilty plea to campaign finance and money-transmitting crimes, saying prosecutors are reneging on a key element of his plea agreement. Nicholas Biase, a spokesman for the U.S. Attorney's Office, declined to comment on Salame's filing. The charges against Salame stemmed from his involvement in a multi-million dollar campaign finance scheme during his tenure at FTX. Bankman-Fried was allegedly also deeply involved in the campaign finance scheme.

Persons: Ryan Salame, Michelle Bond, Bond, Salame, Lewis Kaplan, Salame's, Nicholas Biase, Sam Bankman, Fried, Caroline Ellison, Nishad Singh, Gary Wang, Singh, Wang Organizations: FTX Digital Markets, New, New York federal, Manhattan U.S, Attorney's, Salame, Government, U.S, Bankman, Alameda Research Locations: New York, FTX

☆ As Ryan Salame stares down years in prison for his role in FTX, he's spending his time doing what he loves: posting
▼ + stars: | 2024-08-02 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +12 min

Read previewIn May, Ryan Salame was sentenced to 7½ years in prison for his role in Sam Bankman-Fried's multi-billion-dollar cryptocurrency fraud. In May, US District Judge Lewis Kaplan — who also oversaw Bankman-Fried's trial — sentenced Salame to 7.5 years in prison, higher than what prosecutors recommended. AdvertisementSalame says without evidence that a key witness in Bankman-Fried's trial liedSalame pleaded guilty to charges against him in September, shortly before the start of Bankman-Fried's criminal trial in Manhattan. At the trial, Singh said he initially cared about the political donations, but later just did whatever Salame told him to. In social media posts, Salame said Singh wasn't being truthful about his role in the use of FTX customer funds.

Persons: —, Ryan Salame, Sam Bankman, Salame, Fried, SBF, Trump, Donald Trump, RyAN, Lewis Kaplan —, Kaplan, ANGELA WEISS, weren't, German Shepherd, Caroline Ellison, Gary Wang, Nashad Singh —, Wang, Singh, Ellison hasn't, Salame didn't, didn't, Nishad Singh, FTX, Ellison, Singh wasn't, Nishad, I've, Guy, hasn't, he's, Joe Biden, Bitcoin, Gary Gensler, Biden, Kamala Harris Organizations: Service, Business, Alameda Research, US Bureau of Prisons, US, Mega, FTX, Circle Trade, CPA, HK, Republican Party, Twitter, Alamada Research, Prosecutors, Getty, FTX's, Office, Southern, of, Bankman, Republican, Alameda, SEC, Trump Card Locations: Bankman, FTX, Alameda, Bahamas, America, Nashville, Manhattan, Washington ,, United States, German, of New York, York

☆ One of Sam Bankman-Fried's FTX allies is going to prison too
▼ + stars: | 2024-05-28 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: 1 min

Ryan Salame, a former top executive at FTX and member of Sam Bankman-Fried's inner circle, has been slapped with a hefty prison sentence. He was sentenced to seven and half years in prison on Tuesday, federal prosecutors in New York announced. Salame's sentence comes on the heels of Bankman-Fried's own 25-year prison sentence on fraud and money laundering charges, which was handed down in March. Salame is the first of Bankman-Fried's deputies to get prison time. This story is available exclusively to Business Insider subscribers.

Persons: Ryan Salame, Sam Bankman, Salame Organizations: Business Locations: New York

☆ FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison
▼ + stars: | 2024-05-28 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

Ryan Salame, a former top lieutenant of FTX founder Sam Bankman-Fried, has been sentenced to 90 months, or seven and a half years, in prison, followed by three years of supervised release. In September, Salame pleaded guilty to conspiracy to make unlawful political contributions, defraud the Federal Election Commission, and conspiracy to operate an unlicensed money-transmitting business. Judge Lewis Kaplan sentenced Sam Bankman-Fried to 25 years in prison in March. Salame spent millions of dollars on real estate and campaign donations during his tenure. Meanwhile, data from the Federal Election Commission shows that Salame gave more than $24 million to Republican candidates and causes in the 2022 election cycle.

Persons: Ryan Salame, Sam Bankman, Salame, Judge Lewis Kaplan Organizations: FTX Digital Markets, Commission, Alameda Research, FTX's, FTX, New Providence, Federal, Republican Locations: New York, Bankman, New, U.S

☆ How Khaby Lame, the world's most-followed TikToker, built his business and where he's headed next
▼ + stars: | 2024-05-20 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The creator started posting short comedy videos during the pandemic, poking fun at people on the internet who make life too complicated for themselves. One of his most popular skits, with 276 million views, shows a person using a knife to peel a banana. "I don't think I have a single sponsor in Italy," Lame said. Lame helped promote Smith's recent film "Bad Boys: Ride or Die" with a short video that amassed 19 million views on TikTok and 111 million on Instagram.

Persons: —, Charli D'Amelio, He's, I've, Rodin Eckenroth, Lame, Shaquille O'Neal, Hugo Boss, Naomi Campbell, Robert Downey Jr, Duke McKenzie, Nicola Paparusso, Paparusso, Lame's, Will Smith, he's, Marco Belardi — Organizations: Service, Business, Academy, Google, Pepsi, CIA Locations: Italian, Northern Italy, Italy, Los Angeles, Milan, TikTok, Hollywood

NEW YORK (AP) — Christopher Nolan was still sleeping when his film, “Oppenheimer," landed a leading 13 Academy Awards nominations Tuesday. “Oppenheimer,” Nolan's sprawling American saga of J. Walter Oppenheimer and the creation of the atomic bomb, has more or less been the Oscar frontrunner since it made its acclaimed debut in late July. It came one nomination shy of tying the record for best Oscar nominations ever. “It's flabbergasting," said Thomas who spoke with her husband in an interview a few hours after nominations were announced. And so I think that’s something that really touched audiences.

Persons: — Christopher Nolan, “ Oppenheimer, Emma Thomas, Nolan's, “, ” Nolan, Nolan, Thomas didn't, J, Walter Oppenheimer, Cillian Murphy, Robert Downey Jr, Emily Blunt, “ Oppenheimer ”, Hoyte van, Jennifer Lame's, Ellen Mirojnick's, Ruth De Jong, Claire Kaufman's, Luisa Abel's, Ludwig Göransson's, It's, Thomas, he’s, it’s, Oppenheimer, —, Oppenheimer ”, it's, we'll, We're, you've, We've, We'll, Jake Coyle Organizations: Associated Press, Dunkirk Locations: ”

☆ Everything we know about the third 'Fourth Wing' book
▼ + stars: | 2023-11-28 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +8 min

Rebecca Yarros' "Fourth Wing" and its sequel "Iron Flame" have captivated readers. Despite a messy rollout, "Iron Flame" became an instant New York Times bestseller, just as the first installment in the series, "Fourth Wing," was when it was released in April. This article contains heavy spoilers for "Fourth Wing" and "Iron Flame." Yarros' third book will have a lot to explore in terms of Violet's power and her relationship with XadenRebecca Yarros wrote "Fourth Wing." Advertisement"Every single hint you would need to know what her second signet is is in 'Iron Flame,'" she told Variety's Jennifer Maas.

Persons: Rebecca Yarros, Yarros, —, Violet Sorrengail, Ehlers, Danlos, Violet, Liam, Xaden, Tairn, Andarna, they're, Xaden Rebecca Yarros, Jack Barlowe, hasn't, Violet's, Variety's Jennifer Maas Organizations: Service, York Times, Basgiath, wyvern, Variety, signet Locations: Navarre, Basgiath, Tyrrendor

The tale provides an unlikely, ghastly background to the original 1858 ambrotype created during the future nation-saving Civil War president's ascendancy, an image which the Abraham Lincoln Presidential Library and Museum has added to its collection, officials said Tuesday. “Original images of Abraham Lincoln are extraordinarily rare, and images with a fascinating back story like this are even more rare," said Christina Shutt, executive director of the library and museum. The photo ... is a physical reminder of his kind spirit and concern for others,” said Ian Hunt, head of acquisitions for the Abraham Lincoln Presidential Library and Museum. Hunt, also with the library and museum, sees “a man of conviction" while noting that Lincoln would have been exhausted by the campaign trail. “This is the Lincoln that the voters of Illinois would have been familiar with,” Hunt said.

Persons: Stephen A, Douglas, Abraham Lincoln, Lincoln, Charles Lame, ambrotype, Christina Shutt, “ Lincoln, Charles Lame’s, Lame, Mary Davidson, Louis, Daniel Gilmer, Calvin Jackson, Robert Scanland, LeRoy H, Fischer, amputate Lame's, Lame's, “, ”, Ian Hunt, Horseflies, Gilmer, Hunt, ” Hunt, Daniel Chester French Organizations: Ill, U.S, Senate, Abraham Lincoln Presidential Library, Lincoln, Abraham Lincoln Presidential Library and Museum, of Congress, Lincoln Memorial Locations: SPRINGFIELD, Illinois, Hendersonville , Tennessee, Springfield, Pittsfield, St, Lincoln, Chickamauga, Washington

Salame also pleaded guilty to conspiring to operate an unlicensed money-transmitting business. But there was no indication that he was cooperating with the prosecution or would testify against Bankman-Fried at trial. Former Alameda Chief Executive Officer Caroline Ellison, former FTX technology chief Gary Wang and former FTX engineering chief Nishad Singh previously pleaded guilty and are expected to testify against Bankman-Fried. Bankman-Fried has pleaded not guilty. His lawyer told prosecutors that if called to testify Salame would invoke his right under the U.S. Constitution's Fifth Amendment against self-incrimination.

Persons: Ryan Salame, Sam Bankman, Fried, District Judge Lewis Kaplan, Kaplan, Salame, Jason Linder, Caroline Ellison, Gary Wang, Nishad Singh, Singh, Luc Cohen, Will Dunham, Emelia, Mark Porter Organizations: FTX's, U.S, District, Bankman, Alameda, Porsche, Alameda Research, Prosecutors, Ernst & Young, Circle, FTX Digital, Republican, Democratic, Constitution's, Securities Commission, FTX, New York Times, Thomson Locations: Manhattan, Massachusetts, Salame, Bahamas, Caribbean, Alameda, New York

☆ A 4th FTX executive reportedly plans to plead guilty over crypto exchange's collapse, isolating Sam Bankman-Fried ahead of trial
▼ + stars: | 2023-09-07 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Former FTX executive Ryan Salame is expected to plead guilty to criminal charges. Salame would be the fourth top official in the exchange to plead guilty to charges brought by the US Attorney's office in Manhattan. Sam Bankman-Fried, the company's former CEO and founder, is scheduled to go to trial on fraud and conspiracy charges in October. It's not immediately clear which charges Salame may plead guilty to and whether he will testify at Bankman-Fried's trial, as the other former executives are expected to. Within FTX, Salame connected Bankman-Fried to political power brokers and helped try to legitimize cryptocurrency in the corridors of Washington, DC.

Persons: Ryan Salame, Sam Bankman, Salame, It's, Fried, Caroline Ellison, Gary Wang, Nishad Singh, Haven, Egresitz Organizations: Service, US, of, Prosecutors, Alameda Research, Justice Department, Heritage, Democratic, Republican Locations: Wall, Silicon, Manhattan, Southern, of New York, Bankman, Massachusetts, Lenox —, Washington, DC, United States, Bahamas, Brooklyn

☆ Sam Bankman-Fried donated millions to 'weed out anti-crypto' politicians, new evidence says
▼ + stars: | 2023-08-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Prosecutors say Sam Bankman-Fried donated $100 million to politicians using FTX funds. Messages from Ryan Salame quoted in a court filing say SBF wanted "to weed out anti-crypto" politicians. Although prosecutors have put that number as high as $100 million because they say Bankman-Fried funneled millions more through FTX executives. Prosecutors' evidence includes messages from Ryan Salame, the former co-CEO of FTX's Bahamian affiliate company, who prosecutors say is "a co-conspirator in the defendant's illegal campaign finance scheme." Salame's message added it was likely Bankman-Fried would "route money through me to weed out that republican side," according to the filing.

Persons: Sam Bankman, Fried, Ryan Salame, SBF, George Soros, Mike Bloomberg, hasn't, Salame Organizations: Morning, Washington D.C, Prosecutors, Republicans, FTX's Bahamian, Republican Locations: Washington, The Bahamas

☆ FBI searches the $4 million home of former FTX exec Ryan Salame, report says
▼ + stars: | 2023-04-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Ryan Salame was the co-CEO of FTX Digital Markets, FTX's Bahamian subsidiary. The FBI searched the home of the former co-CEO of FTX Digital Markets, Ryan Salame, on Thursday morning, The New York Times reported. FTX Digital Markets was the Bahamian subsidiary of Sam Bankman-Fried's fallen crypto exchange, FTX. Prosecutors allege Bankman-Fried funneled $100 million in political donations through FTX executives, which allowed him to exceed contribution limits. The FBI and a lawyer for Salame did not immediately respond to Insider's request for comment, sent outside US working hours.

☆ Caroline Ellison made $6 million at Alameda – a fraction of Sam Bankman-Fried's $2.2 billion's haul
▼ + stars: | 2023-03-19 | by ( Pete Syme | Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Caroline Ellison received $6 million by Alameda, according to court documents filed Wednesday. Sam Bankman-Fried transferred himself $2.2 billion, while $587 million went to Nishad Singh. Alameda Research has been accused of using customer deposits from Bankman-Fried's crypto exchange FTX for daily operations, including risky investments. FTX filed for Chapter 11 bankruptcy protection on November 11 after it imploded, wiping out billions in customer deposits. Court documents filed Wednesday show he transferred $2.5 million from Alameda to American Yacht Group in March 2022, with the cited reason "for the benefit of John Samuel Trabucco."

☆ Mercuria leads funding round for engine tech firm ClearFlame
▼ + stars: | 2023-03-09 | by ( Simon Jessop | ) www.reuters.com time to read: +3 min

[1/2] A flag with the logo of Mercuria commodity trading house is pictured in Geneva, Switzerland, October 11, 2016. ClearFlame, whose technology allows diesel engines to run on more climate-friendly fuels, said the Series B round was also backed by WIND Ventures, the venture arm of Chile's COPEC (COPEC.SN), and existing investor Breakthrough Energy Ventures. To help accelerate the shift to a low-carbon economy, ClearFlame modifies the engine design by switching out 10-15% of the engine parts to allow it to run on a variety of fuels, including ethanol and ammonia. Diesel accounts for around 26% of carbon emissions from the transport sector, ClearFlame said, and is also responsible for particulates and black soot. Mercuria's Boris Bystrov said in a statement that its investment reflected a belief that ClearFlame's technology can "economically decarbonise the heavy-duty industry".

☆ An FTX exec bought $6 million of real estate and restaurants in a small Massachusetts town. The crypto giant's collapse has local officials worried about its future.
▼ + stars: | 2022-12-20 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Ryan Salame, a co-CEO at FTX, bought $6 million of restaurants and real estate in Lenox, Massachusetts. A local newspaper reported last year that Salame owned almost half the town's restaurants. As first reported by local news outlet The Berkshire Eagle, Ryan Salame, who was co-CEO at FTX Digital Markets, invested $6 million in restaurants and real estate in Lenox. Bankman-Fried has been accused of funneling customer funds into his trading firm, Alameda, and using some customer money to buy luxury real estate and fund political donations. The Wall Street Journal also reported that Salame vomited upon hearing about FTX's impending collapse.

☆ Who is Ryan Salame, the FTX exec, Republican mega-donor, and New England restaurateur who blew the whistle on FTX?
▼ + stars: | 2022-12-20 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +5 min

Ryan Salame, FTX Digital Market's Co-CEO, tipped off regulators about what was going on at the exchange. Days before disgraced FTX founder Sam Bankman-Fried filed for Chapter 11 bankruptcy, Co-CEO Salame tipped off regulators on alleged malfeasance at the once-$32 billion crypto empire. Bankman-Fried notoriously told a Vox reporter "fuck regulators....they make everything worse" shortly after FTX filed for bankruptcy protection last month. "I always thought he was a great leader," Childs, who hasn't seen Salame since highschool, told The Berkshire Eagle. He purchased six pieces of real estate in the area to the tune of $6 million, according to The Berkshire Eagle.

FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. Days before FTX's bankruptcy filing last month, co-CEO Ryan Salame told Bahamian authorities that founder Sam Bankman-Fried may have committed fraud by sending customer money from the crypto exchange to his other firm, Alameda Research. According to a filing on Wednesday tied to FTX's bankruptcy proceedings, Salame disclosed "possible mishandling of clients' assets" by Bankman-Fried. FTX declared bankruptcy on Nov. 11. Like Bankman-Fried, Salame was a significant political donor, donating $20 million to Republican causes.

☆ Crypto donor dead set on preventing the next global pandemic gave millions to Trump-backed candidates who opposed COVID regulations to court MAGA base
▼ + stars: | 2022-09-19 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Crypto financier Ryan Salame has donated millions to Republican candidates. Three of the candidates Salame supported this year railed against COVID restrictions. The three Republican candidates have all clashed with COVID restrictions in their attempts to woo the MAGA faithful to their side. Hines took to Twitter in August 2021 to lobby against vaccine mandates of any kind. "Ban COVID-19 Vaccine Mandates in our workplaces, our children's schools, and throughout #NC13!"

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