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.
Last week, President Trump was expected to sign an executive order on artificial intelligence, but abruptly postponed the event. Politico White House reporter Diana Nerozzi joins to examine what happened.
Dating apps are matching up with artificial intelligence as romance-seekers demand new ways to find love. Venture capitalist Matt Shumer joins "CBS Mornings" with more details.
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.
Pope Leo has released the first encyclical of his papacy, focusing on humanity and, in part, warning of the risks posed by the growing use of artificial intelligence. The message comes amid growing dissent among young people over AI. Nicholas Thompson, CEO of The Atlantic, joins to discuss.
A Google employee has been arrested for allegedly using insider information to make $1 million on Polymarket. Dustin Gouker, publisher of the Event Horizon newsletter on prediction markets, joins CBS News to discuss.
ZDNet Editor-in-Chief Jason Hiner explains best practices for setup and success of smart home security systems.
The digital investing platform Robinhood is now allowing AI agents to trade stocks and make credit card purchases for users. Yahoo Finance senior reporter Brooke DiPalma joins with the details.
AI-fueled delusions can happen when chatbots respond to grandiose, paranoid or imaginary ideas with affirmation or encouragement.
Meta says its rolling out paid social subscriptions that will include exclusive features like "super reactions" and customizable themes. Kelly O'Grady reports.
Last year, Hegseth called China a "threat" to Taiwan and said an attack might be "imminent."
President Trump's physician said in a letter released Friday that the president is in "excellent health," following a physical earlier this week at Walter Reed National Military Hospital.
The strikes are part of a monthslong campaign against alleged drug boats traversing the Caribbean Sea and eastern Pacific.
Earlier this year, the CDC announced updated recommendations that would reduce the number of recommended immunizations for children from 17 to 11.
The federal prosecutor who signed an indictment accusing former FBI Director James Comey of threatening President Trump by posting an image of seashells arranged as "86 47" is no longer on the case.
Consumers have kept the economy chugging along despite financial pressures. But some signs suggest they could be losing steam, experts say.
Experts point to several factors, from tariffs to weather, behind the rapid price increase in the humble tomato.
Southwest is walking back some recent changes in its policies for passengers who require a second seat.
The rush to build thousands of U.S. data centers is driving demand for some workers, though economists project fewer permanent jobs.
The department said it is preparing for the banknote in response to legislation proposed last year.
President Trump's physician said in a letter released Friday that the president is in "excellent health," following a physical earlier this week at Walter Reed National Military Hospital.
The strikes are part of a monthslong campaign against alleged drug boats traversing the Caribbean Sea and eastern Pacific.
Earlier this year, the CDC announced updated recommendations that would reduce the number of recommended immunizations for children from 17 to 11.
The federal prosecutor who signed an indictment accusing former FBI Director James Comey of threatening President Trump by posting an image of seashells arranged as "86 47" is no longer on the case.
Jill Biden said she supported Joe Biden's decision to pardon their son, Hunter, because they couldn't let him go to jail under President Trump.
Candace Tucker thought her symptoms were benign. A colonoscopy led to an alarming diagnosis.
Earlier this year, the CDC announced updated recommendations that would reduce the number of recommended immunizations for children from 17 to 11.
U.S. government plans to open a quarantine center for Americans exposed to Ebola on an air base in Kenya have been temporarily halted by a court order.
Infectious disease specialists say the viruses are unlikely to become pandemics, but some are still raising concerns about the federal health response.
The Trump administration announced plans to set up an Ebola quarantine and treatment center in Kenya for Americans exposed to the deadly virus overseas. Secretary of State Marco Rubio is now saying no Ebola patients will be allowed into the U.S. Mark Strassmann reports.
Last year, Hegseth called China a "threat" to Taiwan and said an attack might be "imminent."
A Laos rescue organization said that the water level inside the cave had receded enough for the four miners to leave with divers.
When Trump visited China earlier this month, Chinese President Xi Jinping warned him that Taiwan could become a "very dangerous situation" if mishandled.
The head of the U.S. military's Southern Command met Friday with top Cuban military officials at the edge of Guantanamo Bay, a rare meeting as President Trump heaps pressure on Cuba and does not rule out military action.
Ukrainian President Volodymyr Zelenskyy said Ukraine has received intelligence indicating Russia will launch an assault involving drones and missiles.
Peter Frampton is best known for his smash hits "Show Me the Way" and "Do You Feel Like I Do." Now, the multi-Grammy Award-winning guitarist and singer-songwriter is out with his first original album in 16 years, "Carry the Light." Here's Peter Frampton with "Lyin'."
Peter Frampton is best known for his smash hits "Show Me the Way" and "Do You Feel Like I Do." Now, the multi-Grammy Award-winning guitarist and singer-songwriter is out with his first original album in 16 years, "Carry the Light." Here's Peter Frampton with "Buried Treasure."
A new movie titled "Dreams of Violets," with images fully generated by artificial intelligence, is set to premiere next month. Jo Ling Kent reports on the film made with no lights, no cameras and no actors.
Musician Wyclef Jean is on a journey to release 7 albums as part of a single project titled "Quantum Leap." Jean joined CBS News with more details.
Grammy Award-winning artist Wyclef Jean released a new single, "Mr. October," from his new album "Clef Notes," which comes out June 26. The album is the first installment of this seven-album project "Quantum Leap." Jean joins to discuss why he plans to release seven albums in one year and the story behind his new single.
Last week, President Trump was expected to sign an executive order on artificial intelligence, but abruptly postponed the event. Politico White House reporter Diana Nerozzi joins to examine what happened.
Dating apps are matching up with artificial intelligence as romance-seekers demand new ways to find love. Venture capitalist Matt Shumer joins "CBS Mornings" with more details.
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.
Pope Leo has released the first encyclical of his papacy, focusing on humanity and, in part, warning of the risks posed by the growing use of artificial intelligence. The message comes amid growing dissent among young people over AI. Nicholas Thompson, CEO of The Atlantic, joins to discuss.
A Google employee has been arrested for allegedly using insider information to make $1 million on Polymarket. Dustin Gouker, publisher of the Event Horizon newsletter on prediction markets, joins CBS News to discuss.
The new species, named Microeledone galapagensis, has a blue hue, which is believed to be the rarest color in nature.
The Pentagon has released another batch of never-before-seen files on reported UFO sightings. CBS News senior national security correspondent Charlie D'Agata reports.
The 2026 Atlantic hurricane season is quickly approaching, and the National Oceanic and Atmospheric Administration is releasing its forecast for what to expect.
The pictures represent the longest-distance ever seen between two pictures of the same humpback whale, researchers said.
Independent scientists say the technology, while impressive, lacks some components to be truly considered an artificial egg.
Former Attorney General Pam Bondi was heckled by Epstein abuse survivors before she entered a closed-door interview to testify for House Oversight Committee members about the Justice Department's Epstein probe. CBS News' Jake Rosen reports.
Former Attorney General Pam Bondi is testifying privately before members of the House Oversight Committee on the botched Justice Department rollout of the Epstein files. CBS News' Caitlin Huey-Burns reports.
Police in Canada and around the world have been investigating more than 100 suicides linked to Kenneth Law.
A federal judge has temporarily blocked the Justice Department from moving forward with work on the new "anti-weaponization" fund, including making any payouts. CBS News' Ed O'Keefe reports.
The Department of Justice is investigating the outside funding that Trump accuser E. Jean Carroll received for her civil lawsuits against the president. CBS News' Katrina Kaufman reports.
Blue Origin assess the impact of Thursday's New Glenn explosion, prompting concern about NASA moon program delays.
A rare blue micromoon will appear in night skies this weekend. Here's what to expect.
Jeff Bezos' Blue Origin, Astrolab, Lunar Outpost and Firefly Aerospace are awarded with hundreds of millions of dollars in NASA contracts for the first phase of its moon base plans.
China has launched the Shenzhou 23 spacecraft with three astronauts heading to its space station.
Perfecting SpaceX's mammoth rocket will be critical to NASA's plans for returning astronauts to the surface of the moon.
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.
Peter Frampton is best known for his smash hits "Show Me the Way" and "Do You Feel Like I Do." Now, the multi-Grammy Award-winning guitarist and singer-songwriter is out with his first original album in 16 years, "Carry the Light." Here's Peter Frampton with "Lyin'."
Peter Frampton is best known for his smash hits "Show Me the Way" and "Do You Feel Like I Do." Now, the multi-Grammy Award-winning guitarist and singer-songwriter is out with his first original album in 16 years, "Carry the Light." Here's Peter Frampton with "Buried Treasure."
Former first lady Jill Biden sits down with "CBS Sunday Morning," where she discusses everything from former President Joe Biden's health during his presidency to their son Hunter's pardon. Tune in for the full interview Sunday at 9 a.m. ET on CBS.
Blue Origin is assessing damage after a rocket exploded during a test run in Florida on Thursday.
President Trump signaled Friday before a marathon meeting at the White House that he would make a final decision on the war with Iran, but uncertainty remains over where things stand after he failed to announce a deal or ceasefire extension after the meeting.