Sam Bankman-Fried was sentenced Thursday to 25 years in prison for his role in defrauding users of the collapsed cryptocurrency exchange FTX. In a federal courtroom in lower Manhattan, U.S. District Judge Lewis Kaplan called the defense argument misleading, logically flawed and speculative. He said Bankman-Fried had obstructed justice and tampered with witnesses in mounting his defense — something Kaplan ...
The Social Security Administration has issued a final rule that will prevent food assistance from reducing payments to certain beneficiaries. The change applies to Supplemental Security Income, or SSI, which provides monthly checks to adults and children who are disabled, blind or age 65 and older, and have little or no income or resources. Approximately 7.4 million Americans receive support either exclusively from SSI or ...
Visa and MasterCard announced a settlement with U.S. merchants related to swipe fees, a development that could save consumers tens of billions of dollars. Swipe fees are paid to Visa, Mastercard and other credit card companies in exchange for enabling transactions. Merchants ultimately pass on those fees to consumers who use credit or debit cards. According to the settlement announced ...
Sam Bankman-Fried will learn his sentence Thursday, four months after he was found guilty of orchestrating the multibillion-dollar fraud that prompted the collapse of the FTX cryptocurrency exchange. A federal jury in New York City convicted Bankman-Fried, 32, in November on each of the two counts of fraud and five counts of conspiracy he faced. He has been jailed at ...
Seven of the nation’s largest gaming companies are joining forces to create a trade group to promote responsible gaming, and for the first time ever, will share information about problem gamblers. The seven operators — FanDuel, DraftKings, BetMGM, Penn Entertainment, Fanatics Betting & Gaming, Hard Rock Digital and bet365 — will form the Responsible Online Gaming Association, or ROGA, the group announced Wednesday. The members ...
Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that’s widely viewed as a front-runner in generative artificial intelligence. Its foundation model and chatbot Claude competes with OpenAI and ChatGPT. The companies announced an initial $1.25 billion ...
The rate at which home prices grow is slowing down. U.S. home prices increased 0.6% from a month before in February, in line with the 0.6% average monthly gain in the roughly eight years leading up to the Covid-19 pandemic, according to a new Redfin analysis. Before the pandemic, it was normal for prices to grow about half a percent every month, or to increase around ...
Customers from the East Coast to the Midwest who were expecting goods shipped in via the Port of Baltimore could see significant cost increases as a result of Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore. In a statement released after the bridge collapsed early Tuesday, the American Trucking Association estimated that 4,900 trucks per day carrying an ...
Donald Trump on Tuesday started promoting a line of pricey Bibles in a partnership with country music star Lee Greenwood, whose song “God Bless the U.S.A.” is omnipresent at the former president’s political rallies. “All Americans need a Bible in their home, and I have many,” Trump said in a video on Truth Social announcing the business deal. “It’s my favorite book. It’s ...
Chick-fil-A says it will no longer adhere to its pledge of serving antibiotic-free chicken. In a statement released Monday, the fast-food company said that starting this spring it would serve chicken that was free only of antibiotics ‘important to human medicine,’ or those commonly used to treat people. It said its poultry going forward may have been raised with animal ...