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☆ Watch: Ukraine’s Zelensky Arrives in D.C., Meets Biden
▼ + stars: | 2022-12-21 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Watch: Sam Bankman-Fried Closer to Extradition After Bahamas Hearing Footage shows FTX founder Sam Bankman-Fried leaving a courthouse in the Bahamas after a hearing on Monday. His lawyers are fleshing out plans for him to be extradited to the U.S., according to a person familiar with the matter, where he faces criminal charges. Photo: Kris Ingraham/AFP/Getty Images

Bankman-Fried left the courthouse, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters Video. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/10] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

☆ Zelensky Set to Meet Biden After Visit to Front-Line City
▼ + stars: | 2022-12-21 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

It paves the way for the founder of the FTX cryptocurrency exchange to be flown to the United States as early as Wednesday afternoon. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/8] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted into the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

NASSAU, Dec 21 (Reuters) - Sam Bankman-Fried left a Bahamas correctional facility and arrived in court on Wednesday morning, a source said, a day after the founder of the FTX cryptocurrency exchange signed papers paving the way for his extradition to the United States, where he faces fraud charges. Bankman-Fried is expected to sign additional papers in court finalizing his waiver of rights to fight extradition, another person close to the matter told Reuters. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/6] Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Wednesday's hearing will follow a confusing sequence of events this week that left the status of Bankman-Fried's expected extradition unclear.

☆ Sam Bankman-Fried Expected Back in Bahamas Court
▼ + stars: | 2022-12-21 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

NASSAU, Bahamas—Jailed FTX founder Sam Bankman-Fried is expected to return to court here Wednesday to seek his transfer into U.S. custody, paving the way for him to fly to New York to face criminal charges connected to the collapse of the crypto exchange. Mr. Bankman-Fried has agreed not to contest his extradition, according to a person familiar with the matter, but must formally inform the court and get a magistrate judge’s approval. Mr. Bankman-Fried has signed paperwork that triggered such a hearing, the person said. A court administrator said the hearing is scheduled for 11 a.m.

☆ Sam Bankman-Fried’s Extradition Approved by Judge
▼ + stars: | 2022-12-21 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

NASSAU, Bahamas—FTX founder Sam Bankman-Fried will soon be in U.S. custody to face criminal charges connected to the collapse of the crypto exchange, after a judge here approved his transfer from a local jail where he has been held. In court Wednesday, Mr. Bankman-Fried’s lawyer read an affidavit in which the former executive waived his right to extradition proceedings and said he had “a desire to make the relevant customers whole.”

NASSAU, Dec 21 (Reuters) - Proceedings are set to resume on Wednesday in Sam Bankman-Fried's Bahamas court case, after the founder of the FTX cryptocurrency exchange signed papers paving the way for his extradition to the United States, where he faces fraud charges. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. He initially said he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse that decision. Wednesday's hearing will follow a confusing sequence of events this week that left the status of Bankman-Fried's expected extradition unclear. [1/6] Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022.

☆ Caroline Ellison, Associate of FTX Founder Sam Bankman-Fried, Pleads Guilty to Criminal Charges
▼ + stars: | 2022-12-21 | by ( Corinne Ramey | Dave Michaels | ) www.wsj.com time to read: 1 min

A plane carrying FTX founder Sam Bankman-Fried leaves the Bahamas as he is being extradited to the U.S.Two associates of FTX founder Sam Bankman-Fried have pleaded guilty for their roles in fraud that contributed to the cryptocurrency exchange’s collapse and are cooperating with federal investigators. Caroline Ellison , the former chief executive of Alameda Research, a trading firm tied to FTX, and Gary Wang , FTX’s former chief technology officer, both pleaded guilty to criminal offenses similar to those Mr. Bankman-Fried was charged with last week.

☆ Sam Bankman-Fried Transferred to U.S. Custody
▼ + stars: | 2022-12-21 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

NASSAU, Bahamas—FTX founder Sam Bankman-Fried was transferred to U.S. custody Wednesday to face criminal charges connected to the collapse of the crypto exchange, after a judge here approved his extradition. He was being flown to New York, accompanied by federal law-enforcement officials, according to a person familiar with the matter, and could make an initial appearance in federal district court as soon as Thursday. When he is arraigned, he will be asked to enter a plea.

☆ Watch: Argentina Celebrates World Cup Win With Team in Buenos Aires
▼ + stars: | 2022-12-21 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

A hearing in Bankman-Fried's case will take place on Wednesday at 11 a.m. EST (1600 GMT), a court official told Reuters. Wednesday's proceeding could set the stage for the 30-year-old cryptocurrency mogul to depart the Caribbean nation, after several days of confusion about the status of Bankman-Fried's extradition. A person familiar with the matter said Bankman-Fried intends to consent to extradition. He initially told a Bahamas court he would contest extradition, but Reuters and other outlets reported over the weekend that he would reverse his decision. [1/2] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022.

☆ El Paso Braces for Migrant Surge as Title 42 Is Extended
▼ + stars: | 2022-12-21 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Crypto will ignite the next financial crisis if it's not banned — just look at the FTX fiasco, India's central bank boss says
▼ + stars: | 2022-12-21 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

FTX's bankruptcy filing shows that crypto is a threat to the global financial system, according to Reserve Bank of India governor Shaktikanta Das. "Mark my words, the next financial crisis will come from private cryptocurrencies," he added. Reserve Bank of India governor Shaktikanta Das said Wednesday that digital assets lack any underlying value – and so they should be banned outright rather than regulated by governments. "They have no underlying value. Das's comments come as India assumes its presidency of the G20 – a group of countries including China, Russia, and the US.

☆ It's official — Sam Bankman-Fried will soon be extradited to the US
▼ + stars: | 2022-12-21 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried will be heading to the US after over a rough week in a Bahamas prison, per WSJ and NYT. The former FTX CEO is expected to arrive in New York as soon as Wednesday. A federal court in Manhattan would determine bail, amid criminal charges filed against Bankman-Fried. The New York Times has also reported Sam Bankman-Fried is set to be extradited. The New York federal court overseeing the criminal case is expected to decide on bail when Bankman-Fried first appears in court after his arrival to New York.

FTX co-founder Sam Bankman-Fried is escorted by corrections officers to the Magistrate's Court on December 21, 2022 in Nassau, Bahamas. Bankman-Fried, 30, was indicted in New York federal court on Dec. 9 and arrested three days later by Bahamas law enforcement at the request of U.S. prosecutors. Chaos ensued as reporters and attorneys for Bankman-Fried attempted to pin down whether the former crypto billionaire would be rendered back to the United States for arraignment in federal court. When Bankman-Fried lands in New York, the so-far atypical proceedings should take on a more familiar tenor. "But again, if arranged in advance with the magistrate in charge of the detention hearing, the court may allow a hearing before processing, but that is unlikely.

☆ Sam Bankman-Fried could be bailed and placed under house arrest after he's extradited to the US, reports say
▼ + stars: | 2022-12-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried could be bailed and placed under house arrest after extradition to the US. One option being explored, alongside house arrest, is electronically monitoring Bankman-Fried. Two people familiar with the matter told the Times that the deal could see Bankman-Fried placed under house arrest. Since then, Bankman-Fried has spent just over a week in the notoriously-harsh Fox Hill prison, which reports say is overcrowded and understaffed. One official at the prison told The Washington Post that the FTX founder appeared "awfully scared," but seemed like a "nice guy."

CNN —Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night. Wang cofounded FTX with Bankman-Fried in 2019 and also worked with him at his hedge fund Alameda Research. Ellison is pleading guilty to seven counts, including wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, conspiracy to commit commodities fraud and conspiracy to commit wire fraud. Wang has agreed to plead guilty to four counts: wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud and conspiracy to commit securities fraud.

☆ Sam Bankman-Fried is set to be flown to the US from a private airport in the Bahamas, accompanied by FBI agents, report says
▼ + stars: | 2022-12-21 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

SBF is expected to fly to the US from a private airport in the Bahamas on Wednesday, per Bloomberg. The former crypto boss has been charged with eight counts, including wire fraud. Bankman-Fried is expected to sign the final papers waving his rights to fight extradition in a Bahamas court on Wednesday. The decision was reportedly partly motivated by the fact Bankman-Fried expected to be granted bail with house arrest in the US. The disgraced former crypto boss has been charged with eight counts, including wire fraud.

☆ Deputy U.N. chief urges countries to send armed force to Haiti
▼ + stars: | 2022-12-21 | by ( Michelle Nichols | ) www.reuters.com time to read: +2 min

"Now is certainly not the time for the world to turn away from Haiti," she told the U.N. Security Council. Ambassador Robert Wood told the Security Council that Washington continues "to advocate for international security support, including a non-U.N. multinational force, as requested by the Haitian government." "The United States has provided more than $90 million in security support to Haiti in the past 18 months and will continue to provide critical support bilaterally," Wood said. Russia requested the Security Council meeting on Haiti on Wednesday. A council resolution needs nine votes in favor and no vetoes by the United States, Britain, France, China or Russia.

☆ FTX says it has $1 billion in cash, as new management team tries to track down funds to pay back creditors
▼ + stars: | 2022-12-21 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

FTX has more than $1 billion in cash, the collapsed crypto exchange's new management said at a creditor hearing. Management is working to retrieve funds from bank accounts to repay creditors and resolve the company's position. The hearing was part of FTX's bankruptcy proceedings following its November implosion. FTX in a November court filing said it owed its 50 biggest creditors nearly $3.1 billion. FTX fell in November following a jump in withdrawals and allegations of misuse of FTX customer funds.

☆ Dow surges thanks to strong earnings and confident consumers
▼ + stars: | 2022-12-21 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks surged Wednesday as investors cheered healthy results from two of America’s leading companies and a surprisingly strong reading on consumer sentiment. The Dow was up more than 500 points, or 1.6%, after FedEx (FDX) and Dow component Nike (NKE) each reported earnings that topped analysts’ forecasts. Still, the market could at least finish 2022 on a positive note following strong gains for stocks in both October and November. The jump in sentiment on Main Street came even as more signs point to a continued slowdown in the housing market. But BlackBerry (BB), the former mobile device leader that has since morphed into a cybersecurty company, tumbled 7% to a new 52-week low following a weak outlook.

☆ The VC dream machine pumped out one dumb startup after another. 2023 should put an end to that.
▼ + stars: | 2022-12-21 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

2023 should curtail the current flow of bad startup ideas. The way it roughly works is to bet millions across lots of startups in the hope one of them blows up and returns that cash. 'Fewer insane ideas'We are no longer in a low-interest-rate market, meaning startup investors who could once rely on generous backers will have to be more cautious about how they spend their money. They do have lots of money, with an estimated $290 billion of capital available to them in October, according to Pitchbook data. But Kniaz senses a shift in motion: "This next year will show which emperor has clothes on or not.

New York CNN —Lawyers for Sam Bankman-Fried are negotiating with federal prosecutors in New York on a bail arrangement that would enable him to avoid detention, people familiar with the matter told CNN. FTX crypto exchange founder Bankman-Fried, who oversaw his now-bankrupt crypto empire from a luxury compound in the Bahamas, is expected to return as early as Wednesday to the United States. Sam Bankman-Fried is escorted out of court following a hearing in the Bahamas on Monday. Rebecca Blackwell/APIn the week and a half since his arrest in the Bahamas, Bankman-Fried has been held in a prison that US officials have described overcrowded, dirty and lacking medical care. Facing life in prisonFederal prosecutors last week charged Bankman-Fried with defrauding investors and customers of FTX, which he founded in 2019.

Indicted FTX founder Sam Bankman-Fried on Tuesday agreed to be extradited from the Bahamas to the United States, according to a Bahamian court official. The paperwork has been filed with the court, and Bankman-Fried will fly to the U.S. on Wednesday, said Doan Cleare, acting Commissioner of Corrections, Bahamas Department of Correctional Services. Bankman-Fried, 30, is accused of misappropriating billions of dollars deposited in FTX, a huge cryptocurrency exchange that collapsed in November. At one time FTX was reportedly valued at $32 billion and seen as the face of the industry. Once he’s back in the U.S., Bankman-Fried can request that he be released on a bail.

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