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☆ Strikes were just one battle. Hollywood is still fighting a war for survival
▼ + stars: | 2023-11-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

New York CNN —Hollywood writers and actors are going back to work after one of the longest strikes ever in the entertainment industry. Hollywood is in a rebuilding era — a painful, awkward transition fueled by tectonic changes in technology and consumer behavior. Strikes, while disruptive, were only a blip compared with the many other existential quandaries weighing on media companies. Cable TV sign-ups have been rapidly falling for a decade, and no one believes that trend is going to reverse. Netflix and Disney aren’t just competing against each other, they’re also competing with YouTube and TikTok and endless podcasts.

Persons: CNN Business ’, Bob Iger, “, ”, We’re, Hulu —, Peacock, HBO Max — we’re, Max, “ OTT ” —, Iger, aren’t, Harrison Ford, Disney, they’re, That’s, Barbenheimer ”, Taylor Swift, Indiana Jones, you’ll Organizations: CNN Business, New York CNN, Hollywood, Studio, Disney, Paramount, Warner Bros, Cable, Netflix, Hulu, Apple, Amazon Prime, HBO, CNN, Discovery, Disney aren’t, YouTube, Intelligence Locations: New York

☆ Airbnb Tries to Fix Its Review Problem
▼ + stars: | 2023-11-08 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

Would you trust Airbnb reviews more if you knew more about the guests leaving reviews? The short-term rental company is hoping you will. Airbnb announced several changes to its ratings and reviews page on Wednesday. This could include where they are from, the length of their stay and whether they traveled with children, pets or in a group. Hosts with homes receiving excellent ratings and reviews from guests will also receive a new Guest Favorites designation.

Persons: Airbnb

Ms. James has asked that Mr. Trump pay $250 million and that he and his sons be permanently barred from running a business in New York. Mr. Trump has denied all wrongdoing. Mr. Trump minimized the importance of the statements and said the banks paid little attention to them. During the first week of the trial, Justice Engoron ordered Mr. Trump not to comment on members of his staff, and put similar restrictions on his lawyers. On Wednesday, Mr. Trump’s daughter Ivanka will be the fourth and final Trump family member to testify.

Persons: Donald J, Trump, Letitia James, Donald Jr, Eric, Arthur F, Engoron, James, Trump’s, Jeff McConney, Allen H, Justice Engoron, Kevin Wallace, “, ”, Christopher M, ” James, James “, don’t, Allison Greenfield, Greenfield, Kise, Mr, Ivanka Organizations: White, New, Trump Organization, Mazars USA, Mr, Democrat Locations: New York

☆ Samantha Woll: Suspect arrested in killing of Detroit synagogue leader is released
▼ + stars: | 2023-11-08 | by ( Omar Jimenez | Dakin Andone | ) edition.cnn.com time to read: +3 min

CNN —A suspect who was taken into custody in last month’s killing of Detroit synagogue president Samantha Woll has been released, the suspect’s lawyer said Saturday. Still, Woll’s killing has rattled Jewish community members still grappling with Hamas’ deadly October 7 attacks on Israel and the ensuing conflict. Police did not identify the suspect in Woll’s killing. Under Michigan state law, suspects cannot be detained longer than 72 hours without a court hearing. Woll had been her “normal positive and pleasant self” at the wedding prior to her killing, White noted, citing police interviews.

Persons: Samantha Woll, James E, White, Allison Kriger, Isaac, ” White, Woll, “ Sam, Rabbi Ariana Silverman, ” Organizations: CNN, Detroit Police, Police, Detroit Free Press, Detroit Police Department, ” Police, Prosecutors Office Locations: Detroit, Israel, United States, Michigan, Wayne

☆ Americans say the economy stinks. But they’re spending like it’s great
▼ + stars: | 2023-11-08 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

There’s a conundrum that economists and political strategists have been chewing on for more than a year: The economy is good, but Americans say it’s lousy. Just 2% of voters say the economy is excellent, according to a New York Times-Siena College poll. But there’s a conundrum within the conundrum, which is that, despite what Americans say, they are not behaving like a people particularly worried about the economy. That’s why Americans are pulling money from their 401(k)s at an alarming rate to pay the bills. For young people living paycheck to paycheck, the dream of homeownership (and the financial security that comes with it) feels frustratingly out of reach.

Persons: CNN Business ’, Bidenomics, Taylor Swift, they’re, It’s, Jay Powell, it’s squishy, don’t Organizations: New, New York CNN, CNN Business, New York Times, Siena, Starbucks Locations: New York, pollsters

☆ Bed Bath & Beyond just removed the CEO who led its transition from Overstock.com
▼ + stars: | 2023-11-06 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond CEO Jonathan Johnson is stepping down from his role, the company said Monday. AdvertisementAdvertisementBed Bath & Beyond, formerly known as Overstock.com, has a new CEO as well as a new name. Johnson led the company's name change and has said that he looked at Bed Bath & Beyond's name "jealously for several years." Overstock said in June that it would change its name after acquiring the rights to Bed Bath & Beyond's name, trademarks, websites, mobile apps, and other elements of branding. Bed Bath & Beyond formerly was a chain of stores that sold home goods around the US.

Persons: Jonathan Johnson, Johnson, —, David Nielsen, Jonathan, Allison Abraham, John Thaler, Thaler, Marcus Lemonis, Overstock Organizations: Service, CNBC, Inc, Board, JAT, Reuters, Camping Locations: New York

☆ The new Bed Bath & Beyond's CEO is out, days after activist firm called for his ouster
▼ + stars: | 2023-11-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

The new Bed Bath & Beyond announced Monday its CEO, Jonathan Johnson, is immediately stepping down from his position just days after activist hedge fund JAT Capital called for his ouster. He led the company through its acquisition of Bed Bath & Beyond earlier this year and its corporate name change to Beyond Inc. , which took effect Monday. David Nielsen, Beyond's president and a former Payless ShoeSource executive, has taken over as interim CEO while the board undergoes a search for a permanent candidate. Beyond said Johnson's departure "follows mutual agreement" between him and the board to transition the company to new leadership, but the move came on suddenly. The company and Johnson didn't immediately return a request for comment seeking additional information.

Persons: Jonathan Johnson, Johnson, JAT, Marcus Lemonis, David Nielsen, Jonathan, Allison Abraham, Beyond's, Johnson didn't, Patrick Byrne Organizations: Bed, Inc, CNBC PRO Locations: JAT, CNBC's, New York, Russian

☆ Lawsuits are shaking the NAR’s grip on America’s real estate fees
▼ + stars: | 2023-11-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

It’s easy to forget how much we used to rely on real, physical paper and, like, other people to buy basic things. It wasn’t all that long ago that you’d call a travel agent to book a flight. But the sellers argued that in a competitive market, the buyers should pay their own agent’s commission, and negotiate that fee separately. Because even though the NAR says fees are negotiable, the industry has made 5%-6% commissions so standard that most people wouldn’t question it. According to Bloomberg, Realtor commissions are high by global standards.

Persons: CNN Business ’, Anna Bahney, Keller Williams, Bob Goldberg, ”, you’re, you’ll Organizations: New, New York CNN, CNN Business, National Association of Realtors, Homeservices, Keller, Keller Williams Realty, NAR, MLS, Bloomberg, Department of Justice Locations: New York, Missouri, America, Australia

Mr. Trump posted a picture of her with Senator Chuck Schumer, accusing her of partisanship and saying she was “running this case against me.”Though the order is limited, Mr. Trump violated it twice in less than a week. Mr. Cohen spent two days on the stand testifying that Mr. Trump had lied about the value of his properties. Mr. Cohen spoke calmly and confidently as he recounted Mr. Trump’s obsession with his net worth. Mr. Cohen said he had not, prompting Mr. Trump and one of his lawyers, Alina Habba, to throw their hands up in victory. Outside the courtroom, Mr. Trump declared that Mr. Cohen had been “proven to be a liar.”Trump took the stand unexpectedly.

Persons: Donald J, Michael D, Cohen, Trump, —, Arthur F, Engoron, Justice Engoron, Allison Greenfield, Chuck Schumer, ”, Cohen —, Trump’s, flustered, Alina Habba, ” Trump, Greenfield, “ Organizations: Mr, ” Locations: Greenfield

☆ 5 Little Design Moves That Can Save a Boring Room—for Less Than $150
▼ + stars: | 2023-11-04 | by ( Allison Duncan | ) www.wsj.com time to read: 1 min

Many villainous elements can leave a space feeling snoozy, from blah builder-grade “boob lights” on a rental’s ceiling to a dull blank wall in your forever home. “Not having a clear design direction, lacking color or texture or personal touches”—it can all be a factor, explains Toronto-based interior designer Ashley Montgomery. What to do if you lack the energy, or budget, to jump into a complete design overhaul? “You don’t need to start from scratch,” assures Los Angeles-based interior designer Amber Lewis. Instead, find strategic ways to freshen up discreet parts of your home that have potential.

Persons: “, Ashley Montgomery, Amber Lewis Locations: Toronto, Los Angeles

☆ After a year in FTX’s shadow, the crypto industry is deligting in Bankman-Fried’s conviction
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —It took just under a year for Sam Bankman-Fried to go from crypto wunderkind to convicted felon. When Bankman-Fried’s crypto empire collapsed last November, it sent the fledgling industry back years. For the crypto faithful who are still standing and striving, the trial couldn’t be over soon enough. “A lot of folks in the crypto industry are delighted,” said Yesha Yadav, a law professor and associate dean at Vanderbilt University. “There’s definitely an element of ‘ding-dong the witch is dead,’” said Eric Soufer, a political adviser to major crypto companies, referring to Bankman-Fried’s conviction.

Persons: Sam Bankman, Fried, ”, Bobby Zagotta, “ SBF, Yesha Yadav, “, FTX, they’ll, Bernie Madoff, Elizabeth Holmes, Gary Gensler, “ There’s, ’ ”, Eric Soufer Organizations: New, New York CNN, Vanderbilt University, BlackRock, Fidelity, Justice Department, Securities and Exchange Commission, SEC Locations: New York, European

☆ 5 Little Design Moves That Can Save a Boring Room—For Less Than $150
▼ + stars: | 2023-11-03 | by ( Allison Duncan | ) www.wsj.com time to read: 1 min

Persons: “, Ashley Montgomery, Amber Lewis Locations: Toronto, Los Angeles

☆ Sharp U.S. Hiring Slowdown Signals Cooling Economy Ahead
▼ + stars: | 2023-11-03 | by ( David Harrison | ) www.wsj.com time to read: 1 min

The share of working-age people either working or looking for a job has climbed. Photo: Allison Joyce/Bloomberg NewsHiring slowed sharply in October, a sign the economy is cooling this fall following a hot stretch over the summer. U.S. employers added 150,000 jobs in October, down from the previous month’s revised gain of 297,000, the Labor Department said Friday. That was the smallest gain since June, with automakers having around 33,000 fewer workers on payroll because of the United Auto Workers strike. The unemployment rate rose to 3.9% from 3.8% the prior month.

Persons: Allison Joyce Organizations: Bloomberg, Labor Department, United Auto Workers

☆ What to Watch in Friday’s Jobs Report: How Long Can Labor Market Keep Booming?
▼ + stars: | 2023-11-03 | by ( David Harrison | ) www.wsj.com time to read: +1 min

Photo: Allison Joyce/Bloomberg NewsEmployers pulled back on hiring in October while handing out smaller annual raises, analysts said, which would be indications the labor market is slowly losing momentum. Economists estimate average hourly earnings rose 4% in October from the previous year, down from 4.2% in September. On a month-to-month basis, they see wage growth ticking up slightly. Easing hiring and wage growth could be a sign that the economy is starting to slow after a red-hot summer. On Wednesday, Federal Reserve Chair Jerome Powell pointed to the cooling labor market as one reason the central bank might not need to raise rates further.

Persons: Allison Joyce, aren’t, Jerome Powell Organizations: Bloomberg News Employers, Wall, Detroit, The Labor Department Locations: U.S

Donald J. Trump’s legal team on Friday repeatedly attacked a law clerk during the former president’s civil fraud trial, overshadowing Eric Trump’s second day on the witness stand and prompting the judge to bar the lawyers from making public statements about his private communications with his staff. The judge, Arthur F. Engoron, works closely with the clerk, Allison Greenfield, and the two often speak and pass notes on the bench. Ms. Greenfield previously worked as a trial attorney in New York City’s law department, and the judge appears to rely on her expertise when considering rules of evidence and other matters. But the former president has taken issue with her involvement in the monthlong trial — Ms. Greenfield is a Democrat and Mr. Trump believes she is biased against him — and his lawyers have complained about her regularly. He said that the lawyers’ arguments had no basis, that their accusations of bias were false and that failure to heed the order would result in “serious sanctions.”

Persons: Donald J, overshadowing Eric Trump’s, Arthur F, Allison Greenfield, Greenfield, Trump, —, Christopher M, Kise, Justice Engoron Locations: New York, Greenfield

But his testimony was overshadowed by a testy back-and-forth between Justice Arthur F. Engoron and one the Trump lawyers over the judge’s law clerk, Allison Greenfield. The lawyer, Christopher M. Kise, repeatedly objected to the clerk communicating with the judge through notes and suggested she has a bias. In his testimony Friday, Eric Trump consistently batted away questions about what he knew of the Trump Organization’s financial statements, claiming he did not know the granular details. During hours on the stand on Thursday in State Supreme Court in Manhattan, Eric Trump and his older brother, Donald Trump Jr., had blamed outside accountants for errors in company financial statements. The documents are at the heart of the civil case, which accuses the brothers, their father and the family’s Trump Organization of defrauding banks and insurers.

Persons: Eric Trump, Donald J, Arthur F, Allison Greenfield, Christopher M, Kise, Greenfield, “, ”, Donald Trump Jr, Letitia James Organizations: Trump, Court, family’s Trump Organization, Trump Organization Locations: Florida, Manhattan

☆ 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 ,

☆ 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

☆ Irked Trump trial judge blasts ex-president's lawyer for asking to criticize clerk again: 'It's a shame you've descended to this level'
▼ + stars: | 2023-11-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

The judge in Trump's fraud trial lashed out, again, at his lawyer. Trump's lawyer, on Friday, asked permission to criticize her. AdvertisementAdvertisementA baffled, irked judge overseeing Donald Trump's family company's fraud trial in Manhattan criticized one of his lawyers again for his repeated attacks on his law clerk. "It's a shame you've descended to this level," New York Supreme Court Justice Arthur Engoron told Trump's lawyer Christopher Kise. Asked by a lawyer from the New York Attorney General's office what reporting Kise was talking about, the Trump lawyer was unsure.

Persons: —, Donald Trump's, Arthur Engoron, Christopher Kise, Trump, Kise, Engoron, who's, Allison Greenfield, I'm, Breitbart, Brock Fredin, Greenfield, Fredin ., Eric Trump, Dave Sanders, Eric, nodded, he'd, he's, Kevin Wallace Organizations: Trump, Service, New York Attorney, Breitbart, New, Democratic, Fredin, New York, Trump Organization Locations: Manhattan, Greenfield, Wisconsin, New York

The judge overseeing Trump's fraud trial imposed a partial gag order on Trump's lawyers. AdvertisementAdvertisementThe judge overseeing former President Donald Trump's fraud trial in New York expanded an existing gag order to bar Trump's lawyers from commenting on confidential communications between the judge and his staff. Judge Arthur Engoron's wider gag order came after Trump's lawyers made what the judge characterized as "on the record, repeated, inappropriate remarks" about his law clerk. They "falsely [accused] her of bias against them and of improperly influencing the ongoing bench trial," Engoron wrote. AdvertisementAdvertisementThe previous gag order already barred Trump and his co-defendants from spoken or online statements attacking Engoron's law staff.

Persons: Judge Arthur Engoron, Engoron, —, Donald Trump's, Judge Arthur Engoron's, Trump, Christopher Kise, Alina Habba, Clifford Robert, Eric Trump's, Kise, Allison Greenfield, Greenfield, Eric Trump Organizations: Service, Trump, Trump Organization, New York Attorney Locations: New York, Greenfield

☆ Live updates: Sam Bankman-Fried found guilty in fraud trial
▼ + stars: | 2023-11-02 | by ( Cnn'S Allison Morrow | ) edition.cnn.com time to read: +1 min

US District Court Judge Lewis Kaplan announced that convicted former FTX CEO Sam Bankman will be sentenced on March 28, 2024. Meanwhile, Bankman-Fried will return to the Metropolitan Detention Center in Brooklyn, where he’s been held since August. Located on the industrial waterfront of Brooklyn’s Sunset Park neighborhood, the MDC has earned a reputation as one of the worst jails in America. Bankman-Fried is also “friendly” with Genaro García Luna, the former head of Mexico’s FBI, who is awaiting sentencing for drug trafficking, this person said. He seemed to have lost weight and, most surprising, his trademark wild locks were gone, shorn into a tight crew haircut.

Persons: Lewis Kaplan, Sam Bankman, Fried, he’s, he’d, Genaro García Luna Organizations: Metropolitan Detention, MDC, CNN, FBI Locations: Brooklyn, Bahamas, Palo Alto, Sunset, America, Honduras

☆ BT rises after quarterly earnings beat forecasts
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: +1 min

A BT Group Plc logo on a EE/BT Group Plc store in London, UK, on Wednesday, May 17, 2023. BT Group, Britain's biggest broadband and mobile provider, posted a second quarter earnings beat and forecast annual cash flow at the top end of a range, lifting its shares in a parting boost for outgoing CEO Philip Jansen. Shares in BT jumped 5% in early deals, good news for Jansen who is due to step down early next year and has long said he has been disappointed by the group's stock performance. Her job will be to complete Jansen's multi-billion pound push into fibre networks and extending 5G networks, the cost of which has hit free cash flow and weighed on the share price. For the three months to the end of September, BT posted a 3% rise in adjusted core profit (EBITDA) to 2.06 billion pounds ($2.51 billion) beating the 2.03 billion pounds consensus forecast.

Persons: Philip Jansen, Jansen, Hargreaves, Matt Britzman, Allison Kirkby, Sweden's Organizations: BT, BT Group Plc, BT Group Locations: London

☆ YouTube to stop repeatedly recommending certain types of content to teen users
▼ + stars: | 2023-11-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —YouTube is implementing new safeguards that could help prevent the platform from sending teen users down potentially harmful content rabbit holes. The platform plans to limit repeated content recommendations for videos on certain topics, including content that idealizes certain body weights, James Beser, director of product management for YouTube Kids and Youth, said in a blog post Thursday. In 2021, lawmakers called out Instagram and YouTube for promoting accounts featuring content depicting extreme weight loss and dieting to young users. Earlier this year, YouTube rolled out changes to its policies on eating disorder content, adding prohibitions on certain types of videos on the topic and limiting others to be viewable by only adult users. The reminders will be set to pop up every hour as a default for teen users, although parents can update their frequency.

Persons: James Beser, ” Beser, ” Allison Briscoe, Smith, “, YouTube’s, ” Organizations: New, New York CNN, YouTube, Families Locations: New York, United States

☆ BT maintains 2024 outlook after Q2 core profit beat
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - BT Group (BT.L), Britain's biggest broadband and mobile provider, posted second quarter earnings slightly ahead of forecasts putting it on track to meet 2024 guidance, in one of the outgoing CEO's final announcements. Strong cost controls helped BT post a 3% rise in adjusted core profit (EBITDA) to 2.06 billion pounds ($2.51 billion) for the three months to the end of September, beating the 2.03 billion pounds consensus forecast. "These results show that BT Group is delivering and on target: we're rapidly building and connecting customers to our next generation networks, we're simplifying our products and services," Jansen said in a statement on Thursday. The quarterly result meant BT maintained its outlook to grow revenue and profits for its current 2024 financial year, and the group said it expected free cash flow towards the top end of its 1 billion to 1.2 billion pound range. ($1 = 0.8215 pounds)Reporting by Yadarisa Shabong in Bengaluru and Sarah Young in London; Editing by Savio D'Souza and James DaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Allison Kirkby, Sweden's, Philip Jansen, Jansen, Yadarisa, Sarah Young, Savio D'Souza, James Davey Organizations: BT, Britain's, Sweden's Telia, Thomson Locations: Bengaluru, London

☆ 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

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