Sam Bankman-Fried set to plead not guilty to fraud, report says
Prosecutors will have to prove the cryptocurrency company founder intentionally duped customers, legal analysts said.
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Prosecutors will have to prove the cryptocurrency company founder intentionally duped customers, legal analysts said.
Users of the cryptocurrency exchange accuse it of stealing their assets and stopping them from making withdrawals.
The FTX founder was ordered to home confinement at his parents' home in Palo Alto, California.
Word of the agreements came on the same day Bankman-Fried was being flown back to the U.S. from the Bahamas to face fraud charges.
A bankruptcy court is hearing FTX's case days after its founder Sam Bankman-Fried was charged with fraud. He told the Wall Street Journal prior to his arrest that he did not know about potential fraud at his company, and "can only guess" where billions of dollars from his customers went. WSJ reporter Alexander Osipovich interviewed Bankman-Fried, and joins CBS News to discuss the former CEO and the ongoing investigations into his failed crypto company.
Customers of Binance, the biggest crypto exchange, withdrew billions in funds this week. The company says it's safe.
Bankman-Fried is facing eight charges for financial crimes, including campaign finance violations.
Securities regulators claim Sam Bankman-Fried built a "house of cards" while telling investors their money was safe.
Once hailed as a genius, the 30-year-old MIT grad now faces multiple charges of fraud following the collapse of his crypto firm.
Prosecutors allege the FTX founder defrauded customers by using their crypto to pay debts incurred by his hedge fund.
Bankman-Fried was arrested on charges including wire fraud and conspiracy related to the collapse of his cryptocurrency exchange.
New crypto exchange chief points to massive failures under Sam Bankman-Fried ahead of House committee hearing.
DOJ officials want to investigate "allegations of fraud, dishonesty, incompetence, misconduct and mismanagement."
Bankman-Fried, who was once worth $26.5 billion, said he had one working credit card and $100,000 left in a bank account.
Recouped funds are a fraction of the billions of dollars thought to have gone missing from the exchange's coffers.
Some of those assets are believed to have been seized by government officials in Bahamas, where company is based.
Total value of cryptocurrencies has fallen more than $1 trillion this year as investor sentiment sours.
"New technology has made it easier for bad actors to take advantage of innocent victims," said one prosecutor.
Bankruptcy court documents offer a glimpse of just how much the Bahamas-based crypto exchange is in debt.
Some of the biggest names in sports and entertainment promoted crypto "Ponzi scheme" to investors, lawsuit alleges.
Bankrupt crypto exchange plagued by "complete absence of trustworthy financial information," CEO John Ray III said.
The Treasury chief told CBS News she expected inflation to ease thanks to a "resilient" U.S. economy, and said Biden's shift to EVs would become "less reliant on China."
"People are going to be waiting on the sidelines for a very long time," said one law professor of the exchange's account holders.
CEO Sam Bankman-Fried also resigned from FTX, which was facing a financial crunch and a federal probe.
One of the world's most prominent cryptocurrency exchanges suddenly crashed and burned. Here's what happened.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
Hours after the Trump administration ditched Anthropic over the dispute about AI use, OpenAI struck its own deal with the Pentagon. Now the details of that agreement appear to be changing after backlash. Katrina Manson, Bloomberg News reporter, has more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Drones struck two facilities in the United Arab Emirates directly, and damaged a data center in Bahrain, Amazon said.
The CEO of Anthropic says his company refused to allow its technology to be used by the Trump Administration without certain guidelines (such as not using its AI to power fully-autonomous weapons without any human involvement).
ZDNet Editor-in-Chief Jason Hiner explains best practices for setup and success of smart home security systems.
Dario Amodei, co-founder and CEO of the artificial intelligence company Anthropic, says his company refused to allow its AI product, Claude, to be used by the Trump Administration without certain guidelines (such as not using its AI to power fully-autonomous weapons without any human involvement). That prompted President Trump to announce Friday that he is banning Anthropic's technology from all federal use, while Secretary of Defense Pete Hegseth labeled the company "a supply chain risk to national security." Amodei talks with correspondent Jo Ling Kent about why he calls the administration's actions "retaliatory and punitive."
After the Trump administration cut it off, Anthropic CEO Dario Amodei told CBS News in an exclusive interview Friday night he wants to work with the military — but only if it addresses the firm's concerns.
In an exclusive interview with CBS News, Anthropic CEO Dario Amodei said that the Pentagon's decision to designate the AI company a supply chain risk is "retaliatory and punitive." The Pentagon made the designation, which restricts military contractors from doing business with Anthropic, after the company refused to give the military unfettered access to its AI model.
Several Republicans on the Oversight panel joined with Democrats in supporting the motion to subpoena Attorney General Pam Bondi.
Oregon food manufacturer Ajinomoto expands an earlier recall of frozen and ready-to-eat products over glass contamination.
Timothy Parsons, a legal staffer at the U.S. Attorney's Office in Washington, D.C., is facing federal criminal charges in Maryland, where he lives, three sources said.
Travis County DA Jose Garza said Tuesday that suggestions that he would seek charges in the killing were "intentionally false" and political in nature, calling the officers heroes.
Google is accused in a wrongful death lawsuit filed by the family of a man who committed suicide in October, allegedly at the direction of the tech giant's AI chatbot, Gemini.
Oregon food manufacturer Ajinomoto expands an earlier recall of frozen and ready-to-eat products over glass contamination.
Google is accused in a wrongful death lawsuit filed by the family of a man who committed suicide in October, allegedly at the direction of the tech giant's AI chatbot, Gemini.
The U.S. government must also reimburse businesses for the interest they paid on tariffs recently struck down by the Supreme Court, according to the Cato Institute.
President Trump said the government agency will provide political risk insurance to "all shipping lines" operating in the Persian Gulf.
United said it could permanently ban travelers who refuse to wear headphones while listening to audio or video content on its flights.
Several Republicans on the Oversight panel joined with Democrats in supporting the motion to subpoena Attorney General Pam Bondi.
Timothy Parsons, a legal staffer at the U.S. Attorney's Office in Washington, D.C., is facing federal criminal charges in Maryland, where he lives, three sources said.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
Although Sean Plankey's access badge was taken and he was escorted out of Coast Guard headquarters Monday, he remains the nominee to lead the Cybersecurity and Infrastructure Security Agency, sources said.
Minnesota Gov. Tim Walz told lawmakers that fraud "happened on my watch," but defended his administration's handling of the allegations.
Tests of dozens of baby formulas by Consumer Reports found that nearly half contained potentially dangerous chemicals.
Some Republican state lawmakers and health associations are pushing back against spending plans under the Trump administration's $50 billion federal rural health fund.
USALESS.COM is recalling its Rhino Choco VIP 10X product due to the undeclared presence of Tadalafil, which is the active ingredient in Cialis.
Emma Operacz was diagnosed with a rare cancer at 21. An unusual treatment and bone marrow donation from her sister saved her life.
More than three dozen states cover dental services for people on Medicaid, but with about $900 billion in cuts expected to hit states over the next decade, many programs could roll back dental coverage.
The fallen soldiers identified by the Pentagon were Sgt. Declan Coady, Sgt. 1st Class Nicole Amor, Capt. Cody Khork, and Sgt. 1st Class Noah Tietjens.
Iranian officials say more than 170 people were killed in the strike. Neither the U.S. nor Israel has said it was behind the attack, but the Pentagon is investigating.
The government unveiled items said to have been found on the boat, including high-powered weapons, more than 12,800 pieces of ammunition and 11 pistols.
In Defense Secretary Pete Hegseth's second news briefing since the start of the Iran war, Hegseth said the U.S. had sunk an enemy ship by a torpedo for the first time since World War II.
The measure, which would block President Trump from further military force against Iran, appears poised to fall short of the simple majority needed to advance in the Senate.
Hilarie Burton Morgan, known for playing Peyton on "One Tree Hill," talks about her docuseries, "True Crime Story: It Couldn't Happen Here," which is in its third season. She explains how each episode highlights a case in a small town in the U.S., how the series empowers the audience and recent developments in a cold case.
TV host and food expert Padma Lakshmi, the creator and executive producer of the new CBS series, "America's Culinary Cup," speaks to "CBS Mornings" about creating the cooking competition and how it's different from other shows.
Bestselling author Michaeleen Doucleff offers science-backed tips on how families can curb their screen time and cut back on ultraprocessed foods. She explains how her new book, which is aimed at rewiring children's brains, began with a personal revelation.
Actor Luke Grimes talks about starring in the "Yellowstone" spinoff "Marshals." Grimes reveals why he was hesitant to join the cast at first and what it was like to have his new song "Haunted" to play in the premiere episode.
UFC commentator Laura Sanko joins "CBS Mornings" to preview Saturday's UFC fight where defending champion Max Holloway will take on Charles Oliveira for the BMF title.
Anthropic CEO Dario Amodei said his company and the Department of Defense "have much more in common than we have differences."
Hours after the Trump administration ditched Anthropic over the dispute about AI use, OpenAI struck its own deal with the Pentagon. Now the details of that agreement appear to be changing after backlash. Katrina Manson, Bloomberg News reporter, has more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Drones struck two facilities in the United Arab Emirates directly, and damaged a data center in Bahrain, Amazon said.
The CEO of Anthropic says his company refused to allow its technology to be used by the Trump Administration without certain guidelines (such as not using its AI to power fully-autonomous weapons without any human involvement).
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
Documents might help scientists shed light on unexplained phenomena and government secrets, experts said.
A large shark was caught on camera for the first time in Antarctica's waters, surprising researchers. "There's a general rule of thumb that you don't get sharks in Antarctica," one said.
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in a surprise crossing of a near-frozen Delaware River - a watershed military maneuver that dramatized a changing America, and a changing climate.
On the evening of Christmas 1776, Gen. George Washington surprised the King's forces by leading the Continental Army in an unanticipated crossing of a near-frozen Delaware River. Environmental correspondent David Schechter looks at how Washington's watershed military maneuver dramatized both a changing America, and a changing climate.
Timothy Parsons, a legal staffer at the U.S. Attorney's Office in Washington, D.C., is facing federal criminal charges in Maryland, where he lives, three sources said.
Travis County DA Jose Garza said Tuesday that suggestions that he would seek charges in the killing were "intentionally false" and political in nature, calling the officers heroes.
The government unveiled items said to have been found on the boat, including high-powered weapons, more than 12,800 pieces of ammunition and 11 pistols.
A jury found Colin Gray, the father of an accused Georgia high school shooter, guilty on all 27 counts Tuesday, including second-degree murder. Last week Gray testified in his own defense that he never noticied any signs of trouble with his son, Colt Gray, who is charged with opening fire and killing four people inside Apalachee High School in 2024.
Takeshi Ebisawa was sentenced to 20 years in prison by a New York court after being convicted of trafficking nuclear material as well as drugs and weapons.
NASA has announced a major overhaul of its Artemis moon program amid ongoing safety concerns. CBS News space consultant Bill Harwood has more details.
NASA announced an overhaul to its Artemis moon program as safety concerns persist. CBS News space contributor Christian Davenport breaks down the key takeaways.
NASA Administrator Jared Isaacman announced significant changes to the agency's Artemis program, which aims to land on the moon in 2028.
NASA's Artemis II mission continues to face concerns and delays. Scott E. Parazynski, a former astronaut, joins CBS News with more.
NASA is rolling back the Artemis II moon rocket from its launch pad at the Kennedy Space Center in Florida. It is expected to take up to 12 hours to move the 322-foot rocket, with the journey spanning four miles back to its hangar for repairs. CBS News space consultant Bill Harwood has more.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Democratic Sens. Tim Kaine and Chuck Schumer urged their colleagues to vote for the war powers resolution to block President Trump from continuing the conflict with Iran.
Homeland Security Secretary Kristi Noem testified before the House Judiciary Committee on Wednesday at a hearing over the Trump administration's immigration crackdown. Democratic Rep. Dan Goldman of New York pressed Noem on whether she had taken any action on election security.
President Trump spoke more about the war in Iran on Wednesday, commenting on Iran's nuclear program prior to strikes. See his remarks.
California Democratic Rep. Sydney Kamlager-Dove grilled Homeland Security Secretary Kristi Noem during a House Judiciary Committee hearing on Wednesday about an apparent romantic relationship with Corey Lewandowski, a top adviser to Noem, which The Wall Street Journal reported on. Noem called the allegations "tabloid garbage" and later refuted the claims.
Members of Congress are voting Wednesday on a war powers resolution aimed at blocking President Trump from using additional military force against Iran without approval. CBS News congressional correspondent Caitlin Huey-Burns has more.