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MEXICO CITY (AP) — Trae Young put on a show for nearly 20,000 fans in the NBA's regular-season game in Mexico City. Young scored 41 points, then fed Dejounte Murray for a go-ahead 3-pointer with 31 seconds left to give the Atlanta Hawks a 120-119 victory over the Orlando Magic on Thursday night. It was the league’s 32nd game in Mexico since 1992, more than any country outside the U.S. and Canada. Mexico has an NBA G League team that had a successful first year playing at the Arena Ciudad the Mexico. Positive feedback from former NBA players who reside in Mexico City might help the city on its bid for a franchise in the future, but for now the only thing certain is more regular season games.

Persons: — Trae Young, Young, Dejounte Murray, ” Young, “, Jalen Suggs, Paolo Banchero, Franz, Wagner, Banchero, Jalen Johnson, Murray, Bogdan Bogdanovic, Anthony Black, Adam Silver, Silver Organizations: MEXICO CITY, Atlanta Hawks, Orlando, Atlanta, Magic, Arena Ciudad, Hawks, Young, NBA, NBA G League, Miami Heat, Milwaukee Bucks Locations: MEXICO, Mexico City, Mexico, Lubbock , Texas, Atlanta, Orlando, Canada

☆ LeBron James museum to open Nov. 25 in Ohio
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 6, 2023; Miami, Florida, USA; Los Angeles Lakers forward LeBron James (23) dunks the ball against the Miami Heat during the second half at Kaseya Center. Mandatory Credit: Jasen Vinlove-USA TODAY Sports/File Photo Acquire Licensing RightsNov 9 (Reuters) - A museum dedicated solely to the life and illustrious career of NBA great LeBron James is opening this month in his hometown of Akron, Ohio, his foundation said on Thursday. LeBron James' Home Court will be a self-guided tour offering a look at his life and including never-before-seen items along his journey from Akron to the NBA, Olympics, business, philanthropy and beyond. The museum will open on Nov. 25 and is located at House Three Thirty, a facility started by James' foundation to serve the community where he was raised. The 38-year-old James, who became the league's all-time scoring leader in February, is playing in his 21st NBA season.

Persons: LeBron James, Jasen, James, I've, Frank Pingue, Ed Osmond Organizations: Los Angeles Lakers, Miami Heat, Kaseya Center, NBA, Cleveland Cavaliers, Thomson Locations: Miami , Florida, USA, Akron , Ohio, Akron, Toronto

☆ LeBron James says son Bronny could return to the court soon if he has all-clear later this month
▼ + stars: | 2023-11-07 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +2 min

CNN —Los Angeles Lakers superstar LeBron James has revealed that his son, Bronny, isn’t “too long away” from being back on the court if he passes a medical assessment at the end of this month. During a basketball practice in July, Bronny suffered a cardiac arrest and was hospitalized following the incident. Bronny’s return to the court is highly anticipated, but it has been made clear that his wellbeing is the priority. “Bronny was playing extremely well before the issue,” USC head coach Andy Enfield told basketball analyst Jeff Goodman in August. Bronny, who has been present at team practices, was in attendance and cheered his squad on from the sidelines.

Persons: LeBron James, Bronny, isn’t “, James, LeBron, Alex Bierens de Haan, he’s, ’, “ Bronny, ”, Andy Enfield, Jeff Goodman, “ Organizations: CNN, Los Angeles Lakers, Lakers, Miami Heat, University of Southern, USC, USC Trojans ’, ” USC, Trojans, Kansas City Wildcats, Fame Locations: University of Southern California, Las Vegas

☆ The 5 most memorable moments from the Sam Bankman-Fried trial
▼ + stars: | 2023-11-03 | by ( Jordan Valinsky | Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Sam Bankman-Fried was found guilty Thursday following a monthlong trial that was almost as wild as the rapid rise and fall of cryptocurrency exchange FTX itself. He was found guilty of stealing billions of dollars from accounts belonging to customers of FTX. During the trial, Bankman-Fried took the unusual – and risky – decision to testify in his own defense. “I was kind of busy and lazy and didn’t bother getting a haircut for long periods of time,” Bankman-Fried said. “No offense to the Kansas City Royals, but we didn’t want to be known as the Kansas City Royals of crypto exchanges,” SBF testified.

Persons: Sam Bankman, Fried, Bernie Madoff’s, Caroline Ellison, SBF’s, Mark Cohen, ” Cohen, “, ”, Cohen, SBF, Ellison, ” SBF, Lewis Kaplan, Kaplan interjected, Bankman, Danielle Sassoon, …, Sassoon, ’ Organizations: New, New York CNN, Alameda Research, Miami Heat, American Airlines, FTX, New Orleans Saints, Kansas City Chiefs, Kansas City Royals, Kaseya, PR, Alameda Locations: New York, FTX, Bahamas, United States, Kansas City, Bankman, China, Alameda

☆ Who is former crypto king Sam Bankman-Fried?
▼ + stars: | 2023-11-03 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +9 min

New York (CNN) — Sam Bankman-Fried, once known as a cryptocurrency whiz kid, was found guilty on Thursday for his role in the collapse of the cryptocurrency exchange FTX. His entrepreneurial drive didn’t stop there: In 2019, Bankman-Fried co-founded cryptocurrency exchange FTX and became its CEO. In December 2022, Bankman-Fried was arrested in the Bahamas after US prosecutors filed criminal charges against him. Jane Rosenberg/ReutersBankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. Immediately following FTX’s crash, crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, froze customer redemptions in its lending unit, citing market turmoil.

Persons: — Sam Bankman, FTX, Jane Street, ”, Fried, “, …, ” Sam Bankman, Erika P, Rodriguez, Jane, Caroline Ellison, Binance, Sam Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, Joe Bankman, Barbara Fried, Bankman, Allan Joseph Bankman, Yuki Iwamura, Samuel Bankman, Saul Loeb, ingratiated, Tom Brady, Stephen Curry, Naomi Osaka, Larry David, Cameron, Tyler Winklevoss Organizations: CNN, Jane, Capital, MIT, Alameda Research, Chicago Tribune, Tribune, Service, SoftBank, U.S, District, Reuters, Bloomberg, Royal Bahamas Police Force, Billionaire, Stanford, FTX, Getty, Democratic Party, Federal, Commission, Republican, Agriculture, Nutrition, Forestry, Miami Heat, ”, New Locations: York, Alameda, North Berkeley , California, Nassau, Bahamas, BlackRock, Bankman, Hong Kong, United States, FTT, New York City, U.S, FTX, New York, Washington ,

☆ Verdict reached in Sam Bankman-Fried fraud trial
▼ + stars: | 2023-11-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Sam Bankman-Fried was found guilty on Thursday for his role in the collapse of crypto exchange FTX. Bankman-Fried looked sunken as the verdict was read out. Bankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. During his trial, Bankman-Fried said he learned in 2020 that FTX customer funds were held by Alameda but he did not take action to safeguard them. But, unlike bank customers, FTX depositors had no federal insurance fund to compensate them when the cash dried up.

Persons: Sam Bankman, Fried, Joe Bankman, Barbara Fried, Bernie Madoff’s, FTX, Tom Brady, Gisele Bundchen, Gary Wang, Nishad Singh, Wang, Singh Organizations: New, New York CNN, Alameda Research, Bankman, Miami, Chief Locations: New York, Alameda, FTX, Bahamas

☆ Sam Bankman-Fried built crypto empire on 'pyramid of deceit,' prosecutors say in closing
▼ + stars: | 2023-11-01 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

FTX Founder Sam Bankman-Fried leaves Manhattan Federal Court after a court appearance on June 15, 2023 in New York City. The main thing the jury has to decide, Roos said, is whether Bankman-Fried knew that taking the money was wrong. "It was uncomfortable to hear," Roos said, adding that Bankman-Fried said "I can't recall" over 140 times during questioning by the government. Roos said Bankman-Fried is the one who gave special privileges to Alameda, which he started before founding FTX, allowing it to siphon customer money. In referencing the Super Bowl picture with Katy Perry and others, Roos called Bankman-Fried a "celebrity chaser."

Persons: Sam Bankman, Michael M, they've, FTX, Nicolas Roos, Roos, there's, Fried, Caroline Ellison, Bankman, Gary Wang, Danielle Sassoon, Jane Rosenberg, Mark Cohen, he'd, Judge Lewis Kaplan, Ellison, didn't, Singh, Katy Perry, —, Dawn Giel Organizations: Santiago, Getty, Prosecutors, Stanford, Massachusetts Institute of Technology, Alameda Research, Reuters, Miami Heat, MIT, FTX, Skybridge Locations: Manhattan, New York City, Alameda, U.S, California, Hong Kong, Roos's, Bahamas, Bankman

☆ Sam Bankman-Fried lied under oath to shape his story around ex-friends who testified against him, prosecutors say in scathing closing argument
▼ + stars: | 2023-11-01 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +6 min

Prosecutors say Sam Bankman-Fried lied under oath on the witness stand. AdvertisementAdvertisementIn closing arguments for Sam Bankman-Fried's criminal trial Wednesday, prosecutors say the disgraced cryptocurrency mogul repeatedly lied on the witness stand. Prosecutors allege Bankman-Fried defrauded millions of FTX customers by stealing their deposits and using them for Alameda. He used the money, prosecutors say, for personal investments, to repay loans, in extravagant advertising, to buy properties around the world, and for political donations. AdvertisementAdvertisementAlameda's account on FTX, Roos pointed out, did not even have the spot-margin trading option enabled.

Persons: Sam Bankman, Fried, —, he's, Nicholas Roos, Roos, Mark Cohen, Danielle Sassoon, — Caroline Ellison, Gary Wang, Nashad Singh —, Ryan Salame, Adam Yedidia, Sun Organizations: Service, MIT, Alameda Research, Miami Heat, Prosecutors Locations: Manhattan, Bankman, Alameda, FTX, Washington

New York CNN —Former crypto billionaire Sam Bankman-Fried took the stand in front of a judge and jury last week in his criminal fraud trial. “I was kind of busy and lazy and didn’t bother getting a haircut for long periods of time,” Bankman-Fried said. Bankman-Fried is being accused of using this “back door” to transfer billions of dollars in FTX customer funds to Alameda. He initially thought FTX would failWhen Bankman-Fried and Gary Wang started FTX in 2019, there were already dozens of crypto exchanges. I’m not sure that I would quite answer yes to the question as you most recently phrased it.

Persons: Sam Bankman, Fried, “, ”, we’ve, Caroline Ellison, Bankman, Mark Cohen, ” Cohen, Cohen, didn’t, FTX, Gary Wang, Binance, ” SBF, Lewis Kaplan, Kaplan interjected, Danielle Sassoon, I’m Organizations: New, New York CNN, Prosecutors, Alameda Research, Miami Heat, American Airlines, FTX, New Orleans Saints, Kansas City Chiefs, Kansas City Royals, Kaseya Locations: New York, Bahamas, Alameda, Kansas City, Bankman, FTX

☆ Heat just barely hold on for win over Pistons
▼ + stars: | 2023-10-26 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/70] Oct 25, 2023; Miami, Florida, USA; Opening night towels line the seats in the arena prior to the game between the Miami Heat and the Detroit Pistons at Kaseya Center. The comeback began with a 14-0 flurry in which Cunningham contributed two hoops and three assists, getting the Pistons within 94-89 with 6:24 to go. Cunningham also misfired on a 3-pointer with 39.1 seconds left and Alec Burks missed on a driving floater nine seconds later. Love also put up a double-double for the Heat with 13 points and 10 rebounds, while Tyler Herro had 16 points and Duncan Robinson 15. The Pistons lost despite outshooting the Heat 44.6 percent to 40.2 percent overall and outscoring the hosts 33-24 on 3-pointers.

Persons: Jasen, Bam Adebayo, Cade Cunningham, Adebayo, Jimmy Butler, Cunningham, Alec Burks, Kevin Love, Tyler Herro, Duncan Robinson, Jalen Duren, Isaiah Stewart, Killian Hayes, Ausar Thompson Organizations: Miami Heat, Detroit Pistons, Kaseya Center, Pistons, Eastern Conference, Detroit, Adebayo, NBA, Thomson Locations: Miami , Florida, USA

☆ Nikola Jokić leads Denver Nuggets to victory over LA Lakers as title defense begins on NBA Opening Night
▼ + stars: | 2023-10-25 | by ( Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Nikola Jokić led the Denver Nuggets to a victory over the Los Angeles Lakers on opening night of the 2023-24 season as the NBA champions began their campaign to secure a second successive ring. Two-time NBA MVP Jokić finished with a triple-double – 29 points, 13 rebounds and 11 assists – as the Nuggets won 119-107 at Ball Arena in Colorado. But it was the defending NBA champion which got its season off to the perfect start, with clear aspirations of repeat success. Who wants another?” Nuggets head coach Michael Malone said during the team’s ring ceremony. On one side, there are the words “WORLD CHAMPIONS” with the Denver Nuggets retro logo and the team’s regular season record.

Persons: Nikola Jokić, Jokić, –, LeBron James, “, Michael Malone, James dribbles, Justin Tafoya, Jamal Murray, Kentavious Caldwell, Pope, ” Jokić, Devin Booker, Kevin Durant –, Booker, Steph Curry Organizations: CNN, Denver Nuggets, Los Angeles Lakers, NBA, Nuggets, Ball Arena, Ball, Miami Heat, Western, Lakers, Denver, Suns, Warriors, Phoenix Suns, Golden State Warriors Locations: Colorado, Los Angeles, Serbia

☆ NBA 'first class' in China despite past turbulence, says Yao
▼ + stars: | 2023-10-25 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

President of Chinese Basketball Association and Ice and Snow Sports Promotion Ambassador Yao Ming attends a media event ahead of the Beijing 2022 Winter Olympics in Beijing, China January 17, 2022. REUTERS/Yew Lun Tian/File Photo Acquire Licensing RightsNEW YORK, Oct 25 (Reuters) - The National Basketball Association (NBA) and China may have encountered turbulence in their relations over the years but retired great Yao Ming told Reuters the league is still "first class" in his home country. Yao propelled the league's popularity in his home country but relations between China and the NBA have not always been smooth. "I have to say, the NBA is in the first class... (because) you know the players being exposed in China for so long," Yao said, when asked about the past issues between China and the NBA. "The players, the teams (are) all still very well welcome in China and (we had) a couple of players with (in) China just this past summer."

Persons: Yao Ming, Yao, Daryl Morey, Dwight Howard, Kyle Anderson, Jimmy Butler, Adam Silver, Silver, Peng Shuai, Peng, Amy Tennery, Echo Wang, Christian Radnedge Organizations: Chinese Basketball Association and, Snow Sports, REUTERS, National Basketball Association, Reuters, Chinese Basketball Association, Houston Rockets, NBA, Minnesota Timberwolves, FIBA, Miami, Women's Tennis Association, Thomson Locations: Beijing, China, United States, Hong Kong, Taiwan, New York

☆ Knicks sign jersey patch deal with owner James Dolan's Sphere Entertainment
▼ + stars: | 2023-10-24 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The National Basketball Association's New York Knicks are keeping it in the family for their next jersey patch sponsor. Madison Square Garden Sports announced Tuesday that Sphere Entertainment will become the NBA team's official jersey patch partner for the 2023-24 season. Terms of the jersey patch deal were not disclosed. The NBA's jersey patch sponsor program kicked off during the 2017-18 season and has been an important source of revenue for many clubs. Dolan reportedly was shopping around the jersey patch rights for $30 million, according to SBJ.

Persons: James Dolan, David Hopkinson, Micky Arison, Squarespace, Andrew Lustgarten, Dolan, SBJ, Patrick Rishe, Louis, Bob Dorfman Organizations: Association's New York Knicks, Madison, Garden Sports, NBA, Knicks, Boston Celtics, Garden, MSG Sports, Golden State Warriors, Brooklyn Nets, Los Angeles Lakers, Miami Heat, Carnival Cruise, Sports Business, Washington University, Pinnacle Advertising, CNBC Locations: Madison, Las Vegas, St

☆ NBA 2023-24 season: How to watch and everything you need to know
▼ + stars: | 2023-10-24 | by ( Ben Morse | ) edition.cnn.com time to read: +12 min

So before tip-off, here is everything you need to know ahead of the new NBA season. How to watchThe 78th NBA regular season will begin on Tuesday, October 24, running until Sunday, April 14, 2024. Games will be broadcast across TNT, ESPN, ABC, NBA TV and ESPN Radio in the US over the season, while NBA TV and NBA League Pass will broadcast games internationally. The dominant talking point of the NBA offseason was what color jersey Damian Lillard would be putting on this season. Holiday dribbles during the second half of the Celtics' preseason game against the New York Knicks.

Persons: There’s, Damian Lillard, Lillard, Giannis Antetokounmpo, Antetokounmpo, Adam Pantozzi, “ I’ve, I’ve, ’, Giannis, “, Sarah Phipps, ”, Jayson Tatum, Jaylen Brown, Porziņģis, Joe Mazzulla, Maddie Meyer, –, Joel Embiid, Nikola Jokić, Jamal Murray, Bruce Brown, Jeff Green, Bradley Beal, Devin Booker, Kevin Durant, Durant’s, didn’t, Beal, Frank Vogel, who’s, Larry O’Brien, Ja Morant, – Kawhi Leonard, Paul George –, Zion Williamson, Victor Wembanyama, Frenchman, Wembanyama, Gregg Popovich, LeBron James, Garrett Ellwood, Oklahoma City Thunder’s Chet Holmgren, Holmgren, Scoot Henderson –, Thompson, Ausar Organizations: CNN, National Basketball Association, NBA, TNT, ESPN, ABC, NBA TV, ESPN Radio, Portland Trail Blazers, Miami Heat, Milwaukee Bucks, Milwaukee, Trail Blazers, Boston Celtics, Lakers, Bucks, Milwaukee’s, Los Angeles Lakers, “, Oklahoma City Thunder, Eastern Conference, Celtics, New York Knicks, Philadelphia 76ers, Denver Nuggets, Denver, Jokić, Nuggets, Memphis Grizzlies, Phoenix Suns, Los Angeles Clippers, Golden State Warriors, Minnesota Timberwolves, New Orleans Pelicans, Dallas Mavericks, Suns, Grizzlies, Clippers, Pelicans, Warriors, Timberwolves, Mavericks, San Antonio Spurs, Spurs ’, Heat, Oklahoma City, Thunder, Summer League, Spurs, Houston Rockets, Detroit Pistons Locations: Las Vegas, Oregon, Boston, East, Sacramento Kings, Alamo City

MILWAUKEE (AP) — Giannis Antetokounmpo wanted to make sure his contract status didn't distract the Milwaukee Bucks as they made a run at another championship. Antetokounmpo, 28, explained his decision Tuesday, one day after announcing on social media he had agreed to the extension. Antetokounmpo signed the extension and then gave the pen to his mother, who owns the pens from all the contracts he has signed since joining the NBA. Antetokounmpo said he realized he could benefit financially by signing now and then again in 2026 when he's eligible for another extension. Antetokounmpo said he also followed some advice from his older brother, Bucks teammate Thanasis Antetokounmpo.

Persons: — Giannis Antetokounmpo, ” Antetokounmpo, Oh, Giannis, “, Antetokounmpo, Mike Budenholzer, Adrian Griffin, Damian Lillard —, ” Griffin, Thanasis Antetokounmpo, Thanasis, — Antetokounmpo, Khris Middleton, Lopez —, Lopez, Middleton, “ It’s, ” Organizations: MILWAUKEE, Milwaukee Bucks, Bucks, Miami Heat, Milwaukee, NBA, Portland Trail Blazers Locations: Greece, Milwaukee

SAN ANTONIO (AP) — Victor Wembanyama’s first win of his rookie season with the San Antonio Spurs came with no fans present, no referees around and didn’t even require the use of a basketball. “I wanted to win.”Get used to that, San Antonio. They were oft-asked in recent years; then the Spurs got Wembanyama and Popovich signed for five more seasons. The Spurs won 22 games last season — the third-worst season in franchise history — and missed the playoffs for the fourth consecutive season. A simple wish, quickly granted, showed Wembanyama right away what San Antonio can be like.

Persons: — Victor Wembanyama’s, Wembanyama, ” Wembanyama, “, ”, Doug McDermott, Reggie Bullock, Wembanyama —, Bullock, “ I’ve, Thomas Bryant, Bryant, “ We’ve, we’ve, Erik Spoelstra, Spoelstra, Popovich, Heat —, ” Spoelstra, He’s, smarts, —, ” Popovich, Chet Holmgren, he’s, “ It's, Tim Reynolds, ___ Organizations: ANTONIO, San Antonio Spurs, Spurs, NBA, ” Spurs, Houston, The Miami Heat, ”, Oklahoma, San Locations: San Antonio, midcourt, Chicago, Texas, France, Miami

☆ Sam Bankman-Fried directed political donations despite $13 bln 'hole', ex-colleague testified
▼ + stars: | 2023-10-16 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Singh said another FTX executive had told him the deals were meant to help spur user growth. 'I WAS A STRAW DONOR'Bankman-Fried's trial, which started on Oct. 3, has so far focused largely on how prosecutors say Bankman-Fried allowed Alameda to plunder FTX customer funds. Singh gave jurors a window into Bankman-Fried's political operation. He said another FTX executive, Ryan Salame, had access to his bank account to make donations via wire transfers. "I knew that the money for those donations was coming from customer funds."

Persons: Sam Bankman, Andrew Kelly, Fried, Nishad Singh, Bankman, Singh, Tom Brady, Gisele Bundchen, Steph Curry, Larry David, Katy Perry, Orlando Bloom, Michael Kives, Hillary Clinton, FTX, Gary Wang, Caroline Ellison, Alameda's, Gabriel, Gabriel Bankman, Ryan Salame, District Judge Lewis Kaplan, Luc Cohen, Matthew Lewis, Stephen Coates Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Democratic, Prosecutors, Alameda, Miami Heat's, District, Monday, Thomson Locations: New York City, U.S, Alameda, Fried, . U.S, New York

☆ Sam Bankman-Fried jury sees photo of FTX founder with Katy Perry, Orlando Bloom
▼ + stars: | 2023-10-16 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW York, Oct 16 - The jury at Sam Bankman-Fried's fraud trial on Monday saw a photograph of the FTX cryptocurrency exchange founder with singer Katy Perry and actor Orlando Bloom at the 2022 NFL Super Bowl. Singh is the third former member of Bankman-Fried's inner circle to testify at the trial, which started on Oct. 3. Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy tied to FTX's November 2022 collapse. Singh said another FTX executive had told him the deals were meant to help spur user growth. Since his trial, Bankman-Fried has been seen during testimony typing on a laptop and whispering to his lawyers.

Persons: Sam Bankman, Andrew Kelly, Katy Perry, Orlando Bloom, Prosecutors, Nishad Singh, FTX's, Singh, Gary Wang, Caroline Ellison, Alameda's, Fried, Perry, Michael Kives, Tom Brady, Gisele Bundchen, Steph Curry, Larry David, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Nick Zieminski Organizations: FTX, Manhattan, REUTERS, Bowl, Alameda, Miami Heat's, District, Bankman, Prosecutors, New York Times, Brooklyn's Metropolitan Detention Center, Thomson Locations: New York City, U.S, Los Angeles, Brooklyn's, New York

☆ This DeFi founder pulled his money out of FTX a month before it collapsed—here's his top advice for crypto traders
▼ + stars: | 2023-10-16 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

On Nov. 11 2022, cryptocurrency exchange FTX filed for bankruptcy after users withdrew around $6 billion in funds from the exchange and Binance, a competing offshore crypto exchange, backed out of a deal to buy the company. He publicly raised concerns about FTX's financial health about a month before the company's multibillion-dollar implosion. At that time, the crypto craze had soared to a fever pitch and the entire crypto market was valued around $3 trillion. However, despite the hype surrounding FTX, Bhaidani says that the numbers just weren't adding up at the time. Since exchanges typically earn revenue by charging traders transactions fees, this would mean that revenue was down for the company as well, he says.

Persons: FTX, Sam Bankman, Ishan Bhaidani, wasn't, Bhaidani Organizations: CNBC, Miami Heat Locations: Manhattan, FTX

Bankman-Fried was arrested in the Bahamas a month later. Singh pleaded guilty to fraud charges and agreed to testify against the man he'd known since high school. Singh said he had little influence over Bankman-Fried. “I can’t have lawyers coming in and giving drugs to people on trial because somebody says they need it. ___For more AP coverage of Sam Bankman-Fried and FTX: https://apnews.com/hub/sam-bankman-fried

Persons: —, Sam Bankman, “ blindsided, ” Nishad Singh, Fried, Singh, “, ”, he'd, ” Singh, Jeff Bezos, Leonardo DiCaprio, Tom Brady, Larry David, Judge Lewis A, Kaplan, ” Kaplan Organizations: Bankman, Alameda Research, FTX, Amazon, Miami Heat, Major League Baseball Locations: FTX, Bankman, Bahamas, Manhattan, Palo Alto , California, San Francisco, California, Miami

☆ Sam Bankman-Fried's lieutenant Nishad Singh said he was embarrassed by 'flashy' FTX spending
▼ + stars: | 2023-10-16 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +8 min

Singh testified at Bankman-Fried's trial that his concerns were almost always rebuffed. In Manhattan federal court Monday, Singh testified about how he frequently questioned and pushed back against Bankman-Fried's spending sprees and investment decisions — and was almost always rebuffed. "I would hear that my opinions were already factored in, and I didn't need to continue sharing them," Singh testified. Singh testified that he came to know Bankman-Fried through a friendship with the FTX founder's younger brother, Gabe Bankman-Fried. Infighting over expensesThe pair often disagreed on money, Singh testified.

Persons: Nishad Singh, Sam Bankman, Singh, —, Fried, Bill Clinton, Tony Blair, spender, Caroline Ellison, Gary Wang, Gabe Bankman, FTX, SBF, I've, Sam, Tom Brady, Gisele Bündchen, Steph Curry, Kevin O'Leary, Larry David, Jon Kopaloff, Fatih Aktas, Getty Images Singh, Michael Kives, Hillary Clinton, Katy Perry, Orlando Bloom, Ted Sarandos, Jeff Bezos, Kate Hudson, Leonardo DiCaprio, Corey Gamble, Kendall Jenner, Singh wasn't, Kris Organizations: Service, Bankman, Alameda, US Securities and Exchange Commission, University of California, Facebook, Engineering, Sequoia Capital, Yuga, Miami, Major League Baseball, of Legends, Getty Images, Anadolu Agency, K5 Global Locations: Bankman, FTX, Manhattan, Berkeley, Alameda, Bahamas, Kazakhstan, Albany

☆ NBA can shift the balance of power in media with its next rights deal
▼ + stars: | 2023-10-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Every media rights renewal for the NBA is an important event because it only happens about once a decade. But with the National Football League's media rights locked up until 2033, the NBA has a unique opportunity to play media kingmaker. CNBC first reported NBCUniversal's interest in again airing NBA games earlier this year. Carving up the piewatch nowThe NBA will have to balance demand against restricting supply to maximize the price for rights. Discovery's TNT, NBA TV, NBA League Pass or a regional sports network.

Persons: Jimmy Butler, Jamal Murray, Justin Edmonds, clamor, John Skipper, Ted Sarandos, Netflix hasn't, We've, Sarandos, that's, Netflix's Ted Sarandos, Jeff Kravitz, That's, Serbian Nikola Jokić, Victor Wembanyama, It's, Peacock, Michael Jordan, Discovery's Max, Aurelien Meunier, Kevin Durant Organizations: Miami Heat, Denver Nuggets, Ball Arena, Getty, Basketball, Comcast, Google, Apple, Netflix, YouTube, NBA, Disney, Warner Bros, Discovery, National Football, ESPN, Global, Slovenian Luka Dončić, Dallas Mavericks, San Antonio Spurs, NBCUniversal, NBC, CNBC, U.S, Metropolitans, Nielsen, Major League Soccer, Major League Baseball, ABC, TNT, NBA TV, Twitter Locations: Denver , Colorado, NBCUniversal, Hollywood , California, Australia, Brazil, Canada, France, Germany, Italy, Japan, Korea, Mexico, Spain, United Kingdom, United States, Slovenian, Serbian, Levallois, Perret, U.S

But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse. loadingAt Bankman-Fried's trial on Wednesday, prosecutors played for the jury FTX video advertisements in which a narrator said, "we're inviting everyone in," as well as spots featuring NFL quarterback Tom Brady and comedian Larry David. Bankman-Fried, 31, has pleaded not guilty to two counts of fraud and five counts of conspiracy over the collapse of FTX. Mark Cohen, Bankman-Fried's lawyer, said his client never intended to steal funds. "But on the other hand, many factors that nobody controlled could make crypto go up and down in value.

Persons: Sam Bankman, Mark Cohen, Jane Rosenberg, FTX, Shaquille O'Neal, Tom Brady, Larry David, Bankman, Prosecutors, cryptocurrency, Thane Rehn, Fried, Rehn, Cohen, O'Neal, Brady, David, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Federal Court, REUTERS, Twitter, Miami Heat, Thomson Locations: Bankman, FTX, New York City, U.S, Miami Beach , Florida, New York

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins today. Here's everything you need to know.
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

Persons: Sam Bankman, SBF, —, FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda

☆ The 6 wildest details about Sam Bankman-Fried that Michael Lewis revealed in a tell-all interview
▼ + stars: | 2023-10-03 | by ( Grace Kay | ) www.businessinsider.com time to read: +9 min

Michael Lewis gave a peek into details from his new book on Sam Bankman-Fried in a tell-all interview. AdvertisementAdvertisement"The Big Short" author Michael Lewis shared some of the wildest details from his forthcoming book on disgraced FTX cofounder Sam Bankman-Fried during a tell-all interview with "60 Minutes" on Sunday. Tom Brady and Sam Bankman-Fried had an unlikely friendship, according to Michael Lewis. Sam Bankman-Fried, a known "League of Legends" fan, played a video game during his first live TV interview, Michael Lewis said. Sam Bankman-Fried.

Persons: Michael Lewis, Sam Bankman, Lewis, SBF, Tom Brady, Donald Trump, —, Bankman, Sam, Erin Schaff, Insider's Lloyd Lee, Fried, Trump, Brady, Sebastian Widmann, Sam wasn't, FTX, he's, Larry David, Steph Curry's, Steph Curry, Anna Wintour, Matt Winkelmeyer, Vogue's Anna Wintour, Wintour, Spokespeople, David, Curry, Michael M, Bernie Madoff, Elizabeth Holmes, Jim Spellman, WireImage Lewis Organizations: Service, Trump, NFL, Super, Miami, Sequoia Capital, Metropolitan Detention, Prosecutors, Alameda Research, Bankman Locations: New York, Trump, Hollywood, America, Bahamas, Brooklyn

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