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The Latest Breaking News on Crypto

Sam Bankman-Fried sent back to Bahamian jail after catching lawyer off guard with US extradition plan

FTX co-founder Sam Bankman-Fried’s preparations to be extradited to the United States have hit an abrupt and confusing snag in a Bahamas courtroom.

Tribune News Service

Fortnite maker to pay $520M for privacy, e-commerce abuses

The maker of the popular Fortnite video game will pay $520 million in penalties and refunds to settle complaints revolving around children’s privacy and its payment methods that tricked players into making unintended purchases

The Independent UK

Jo Johnson resigns from Binance advisory role

The former Tory MP and universities minister stepped back as scrutiny over the cryptocurrency exchange grows

The Guardian - UK

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Sam Bankman-Fried delays agreement on extradition to US

The crypto tycoon has acknowledged failures at FTX but says he does not believe he has criminal liability

The Independent UK

The FTC hits Fortnite developer Epic Games with $520 million fine

The penalty is over allegations that Epic tricks 'millions of players" into making unintentional purchases in Fortnite.

USA Today Sports Media Group

Sam Bankman-Fried prepared to be extradited to US as soon as Monday

Disgraced FTX co-founder Sam Bankman-Fried has indicated he’s preparing to be extradited to the U.S. from the Bahamas as soon as Monday, according to a person with direct knowledge of the matter.

Tribune News Service

Fortnite creator Epic Games to pay record FTC fine over violating children’s privacy

Epic Games, the creator of the popular video game Fortnite, has agreed to pay $520 million to the Federal Trade Commission over complaints that the company violated children’s privacy law and forced unintended purchases through trickery.

Tribune News Service

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Tech & Science Daily podcast: Twitter poll votes Musk to step down

Elon Musk looks set to step down as Twitter CEO.

Evening Standard

‘I said you’re a fraud.’ CME Group’s boss spotted early trouble at crypto exchange FTX

Terrence Duffy, chairman of Chicago-based exchange owner CME Group, said his meeting with Sam Bankman-Fried showed FTX had no plan to prevent trading calamities that could have spread across the financial system.

Chicago Sun-Times

Disgraced crypto boss Sam Bankman-Fried to walk back decision to fight extradition, report says

Bankman-Fried potentially faces prison sentence of over 100 years

The Independent UK

Sen. Sherrod Brown leaves possibility of crypto ban open as momentum builds for stronger regulation

"Crypto doesn’t get a free pass because it’s bright and shiny," said the Senate banking chairman Sunday.

Fortune

Ye, DeSantis and resurgent antisemitism

Neoliberal capitalism has created a culture of isolation and empty spectacle — and driven the comeback of fascism

Salon

The road ahead for cryptocurrencies

Greater government regulation of blockchain technology may bring more structure and stability to the crypto sector | Content partnership

Newsroom.co.nz

Ira Winderman: FTX fiasco has Heat’s Haslem feeling pain of others

This was not an interview Udonis Haslem wanted to be having, making that clear immediately.

Tribune News Service

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ABC News

Former FTX CEO Sam Bankman-Fried to reverse decision on contesting extradition

Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said.

Fortune

Sam Bankman-Fried will now reverse his decision to fight extradition to the U.S.: Report

The FTX founder was arrested on Monday in the Bahamas and denied bail, with the judge deeming him a flight risk.

Reuters

Exclusive-Sam Bankman-Fried to reverse decision on contesting extradition

Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.

The Guardian - UK

Why were the media hypnotised by Sam Bankman-Fried?

Credulous or ignorant interviewers made it easier for the disgraced crypto wunderkind to pull the wool

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The Independent UK

Crypto's ties to sports raise ethical questions

Sports fans who view their favorite players as role models might think twice before taking their financial advice, too

Bangkok Post

Crypto miner 'stole electricity worth B10 million'

A cryptocurrency miner running 223 computers stole some 10 million baht worth of electricity over a one-year period, the Metropolitan Electricity Authority (MEA) says.

The Guardian - US

In balmy Puerto Rico, diehards shrug off the crypto winter: ‘We’re not worried’

Blockchain aficionados have long flocked to the island for its favorable tax laws. But as the industry wobbles, local residents are pushing back

The Guardian - US

Fraud, cons and Ponzi schemes: did Sam Bankman-Fried use Madoff tactics?

The fallen crypto mogul is fighting off accusations he followed a similar playbook to Madoff – and deceived investors in the process

inkl Originals

The Weekly Wrap for Saturday, 17 December 2022

This man needs little introduction. He's a scoundrel who drank his own bath water. A gambling exemplar of modern techno-capitalism. And if we lived in a just society, Sam Bankman-Fried would be TIME magazine's Person of the Year.

The Texas Tribune

More Texans give away campaign donations from Sam Bankman-Fried and other FTX affiliates

Earlier this month, The Texas Tribune reported that Beto O’Rourke had given back a $1 million donation that Bankman-Fried had donated to his campaign.

The Independent UK

Democrats set aside donations from ex-FTX CEO Bankman-Fried

The three primary committees charged with electing Democrats are setting aside more than $1 million in donations from disgraced crypto mogul Samuel Bankman-Fried this election cycle

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