Sam Bankman-Fried sentenced to 25 years for defrauding FTX investors Isna, September 6, 2024 FTX co-founder Sam Bankman-Fried will serve 25 years in prison after being convicted of defrauding his customers, investors, and lenders. The man who presided over the largest crypto collapse in history received his sentence Thursday in a Manhattan federal court from US Judge Lewis Kaplan, who presided over Bankman-Fried’s trial last fall. He faced up to 110 years. Prosecutors argued for a sentence of 40 to 50 years, while Bankman-Fried’s lawyers asked for six and a half years. Sentences for white collar crimes have varied in recent years, from 150 years for Bernard Madoff to 11 years for Elizabeth Holmes.… Continue Reading
An inflation gauge closely tracked by the Federal Reserve shows price pressures easing gradually Isna, August 31, 2024 WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve slipped last month in a sign that price pressures continue to ease. The government reported Friday that prices rose 0.3% from January to February, decelerating from a 0.4% increase the previous month in a potentially encouraging trend for President Joe Biden’s re-election bid. Compared with 12 months earlier, though, prices rose 2.5% in February, up slightly from a 2.4% year-over-year gain in January. Excluding volatile food and energy costs, last month’s “core” prices suggested lower inflation pressures. These prices rose 0.3% from January to February, … Continue Reading