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Today’s top news
Sam Bankman-Fried, founder of now-defunct cryptocurrency exchange FTX, is due in court today in his fraud trial. He’s pleaded not guilty to seven criminal counts and could spend the rest of his life in prison if found guilty. Here’s everything you need to know about the trial.
Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court in New York City on Aug. 11. Bankman-Fried is set to start his blockbuster trial on Tuesday. It’s expected to last about six weeks.
Michael M. Santiago/Getty Images
- Central to the case is FTX’s relationship with Alameda Research, a crypt-focused hedge fund also founded by Bankman-Fried. On Up First, NPR’s David Gura says prosecutors allege he used money from FTX investors to plug a “giant hole” in Alameda’s finances. Defense attorneys are expected to claim that Bankman-Fried didn’t intend to defraud anyone and was in over his head.
Ukrainian troops are making limited progress in retaking Russian-occupied land as winter approaches. U.S. support is also wavering as the war drags on. The stopgap spending bill Congress passed over the weekend to keep the federal government open did not include further aid for Ukraine. Here’s a look at key developments in the war in the past week.
- Though Ukrainian President Volodymyr Zelenskyy is still advocating for more aid, NPR’s Joanna Kakissis says the Ukrainian government is also looking for long-term alternatives to foreign aid. The country’s new defense minister, Rustem Umerov, wants to partner with allies to…
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