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Enlarge / Being in a box doesn't mean the iPhone can't update. (credit: Apple)
Unboxing a new gadget is always a fun experience, but it's usually marred somewhat by the setup process. Either your device has been in a box for months, or it's just now launching and ships in the box with pre-release software.
Enlarge / FTX Founder Sam Bankman-Fried arrives at US District Court on March 30, 2023, in New York City after being hit with a criminal charge for allegedly authorizing a bribe of at least $40 million to one or more Chinese government officials. (credit: Getty Images | Michael Santiago )
Convicted FTX fraudster Sam Bankman-Fried was sentenced to 25 years in prison today, according to news reports.
The founder and ex-CEO of cryptocurrency exchange FTX was sentenced this morning by Judge Lewis Kaplan in US District Court for the Southern District of New York.
Sam Bankman-Fried, the former billionaire who was found guilty of defrauding customers and investors of his cryptocurrency exchange FTX, was sentenced to 25 years in prison on Thursday by a federal judge, who ruled that Bankman-Fried committed perjury and attempted witness tampering. The sentencing closes the door on an astonishing rise-and-fall saga in which Bankman-Fried, 32, was lauded as one of the world’s most successful entrepreneurs before losing more than $8 billion worth of FTX customer deposits.
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Bankman-Fried’s sentence is less what federal prosecutors had hoped for: they recommended that he should receive 40-50 years due to the “extraordinary dimensions of his crimes” and the risk that he might carry out a future fraudulent scheme.
Enlarge / After a 10-year gap, Lola is back developing an electric racecar, or at least the powertrain for one, as it will enter Formula E next season. (credit: Lola)
In 2022, we brought news that Lola, a once-famous racing company, was planning its renaissance. Lola never really cracked Formula 1, but it did have success in IndyCar and sports car racing with cars it designed and built from the 1960s until it ceased trading in 2012.
Enlarge / Claptrap keeps finding himself in wild new places. Now he's heading from Sweden's Embracer Group to New York City's Take-Two Interactive. Okay, maybe not that wild. (credit: Gearbox Interactive)
Embracer Group has been backing away from its all-encompassing position in the games industry lately. The latest divestment is Gearbox Entertainment, the studio behind the Borderlands series it bought in early 2021 for a deal that could have been worth up to $1.37 billion to Gearbox had it stayed inside the Swedish conglomerate's grasp.
The buyer is Take-Two Interactive Software, which had previously partnered with Gearbox on publishing Borderlands and other titles.
NEW YORK — Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced Thursday for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currency.
Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic fall from a year earlier when he and his companies seemed to be riding a crest of success that resulted in a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady and comedian Larry David.
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A jury found that Bankman-Fried illegally used money from FTX depositors to cover his expenses, which included purchasing luxury properties in the Caribbean, alleged bribes to Chinese officials and private planes.
Prosecutors recommended a prison sentence of 40 to 50 years.
“The defendant victimized tens of thousands of people and companies, across several continents, over a period of multiple years.