SEC charges former FTX CEO with defrauding crypto investors
Securities regulators claim Sam Bankman-Fried built a "house of cards" while telling investors their money was safe.
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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.
Federal prosecutors have charged Sam Bankman-Fried, founder of the now-bankrupt cryptocurrency firm FTX, with fraud. He was arrested Monday in the Bahamas. Michael Parker, head of anti-money laundering and sanctions practice at Ferrari and Associates, joins CBS News' Elaine Quijano and Lana Zak on what happens next in the criminal case against Bankman-Fried.
Former FTX CEO Sam Bankman-Fried has been arrested in the Bahamas at the request of U.S. authorities. The U.S. Securities and Exchange Commission has charged him with orchestrating a scheme to defraud investors. Scott MacFarlane reports.
Former FTX CEO Sam Bankman-Fried has been arrested in the Bahamas on criminal charges and faces extradition to the U.S.. He has also been charged by the Securities and Exchange Commission for allegedly defrauding investors in his cryptocurrency exchange. CBS News congressional correspondent Scott MacFarlane joins "CBS News Mornings" to explain the fallout on Capitol Hill, where Bankman-Fried had been scheduled to testify at a hearing today.
CBS News congressional correspondent Scott MacFarlane joined CBS News' Vladimir Duthiers and Anne-Marie Green with more on the criminal fraud charges filed in the U.S. against Sam Bankman-Fried, the founder of FTX who was arrested in the Bahamas after the cryptocurrency exchange's collapse.
Bankman-Fried was arrested on charges including wire fraud and conspiracy related to the collapse of his cryptocurrency exchange.
Sam Bankman-Fried, founder and former CEO of the FTX cryptocurrency exchange, which recently filed for bankruptcy, has been arrested in the Bahamas based on charges filed in the U.S. CBS News legal contributor Jessica Levinson joins John Dickerson on "Prime Time" with more on this breaking story.
New crypto exchange chief points to massive failures under Sam Bankman-Fried ahead of House committee hearing.
Former FTX CEO tweeted that he's limited to what he can say and "won't be as helpful" as he would like to be.
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.
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 former FTX CEO tweeted a series of cryptic comments, adding that his "memory might be faulty in parts."
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."
CEO Sam Bankman-Fried also resigned from FTX, which was facing a financial crunch and a federal probe.
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The deal, announced via Twitter, would make Binance an even more dominant player in the cryptocurrency industry.
Trade, Taiwan and tensions with Iran are surefire topics for President Trump's meeting with Chinese leader Xi Jinping.
President Trump is expected to encourage China to pressure Iran to make a deal to end the war when he visits Beijing this week and meets with President Xi Jinping.
The effort potentially shielded Iranian aircraft from American airstrikes, according to U.S. officials with knowledge of the matter.
A strand of DNA. An eerie doorbell video. The investigation into Nancy Guthrie's disappearance reaches 100th day with no sign of a breakthrough.
Jay Bhattacharya, the acting director of the Centers for Disease Control and Prevention, told CBS News that the hantavirus outbreak should be treated differently from COVID.
The Supreme Court set aside lower court decisions that had blocked the state from using a congressional map drawn by Republicans in 2023 that contained one majority-Black district.
Voters are going to the polls in Nebraska and West Virginia on Tuesday, with Democrats vying for the chance to run in an open seat in Nebraska that the party has long been eyeing.
Virginia Democrats asked the Supreme Court to restore its congressional map that aimed to give Democrats an edge in the midterms, days after it was blocked by the state's highest court.
Elon Musk, Tim Cook and other high-powered business leaders have been invited to be a part of the U.S. delegation traveling to China this week.
A strand of DNA. An eerie doorbell video. The investigation into Nancy Guthrie's disappearance reaches 100th day with no sign of a breakthrough.
The body of a seventh person was located Monday nearly 150 miles north of a Union Pacific rail yard in Laredo, where six bodies were discovered on Sunday afternoon.
The Supreme Court set aside lower court decisions that had blocked the state from using a congressional map drawn by Republicans in 2023 that contained one majority-Black district.
Virginia Democrats asked the Supreme Court to restore its congressional map that aimed to give Democrats an edge in the midterms, days after it was blocked by the state's highest court.
Justice Samuel Alito extended an administrative stay that maintained access to mifepristone through the mail.
Suspending the federal gas tax would have a modest impact on fuel prices, while also requiring congressional approval.
The family of one of the victims in last year's deadly mass shooting at Florida State University accused ChatGPT developer OpenAI of enabling the suspect leading up to the attack.
Pop singer accuses electronics manufacturer Samsung of using a copyrighted image of her face to sell TVs.
President Trump made the comments in a phone interview with CBS News chief White House correspondent Nancy Cordes.
A "hawkish" turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.
Voters are going to the polls in Nebraska and West Virginia on Tuesday, with Democrats vying for the chance to run in an open seat in Nebraska that the party has long been eyeing.
Trade, Taiwan and tensions with Iran are surefire topics for President Trump's meeting with Chinese leader Xi Jinping.
The Supreme Court set aside lower court decisions that had blocked the state from using a congressional map drawn by Republicans in 2023 that contained one majority-Black district.
Virginia Democrats asked the Supreme Court to restore its congressional map that aimed to give Democrats an edge in the midterms, days after it was blocked by the state's highest court.
Justice Samuel Alito extended an administrative stay that maintained access to mifepristone through the mail.
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
The 18 Americans who were aboard a hantavirus-stricken cruise ship have returned to the U.S. and are now in quarantine. One remains in the biocontainment unit at the University of Nebraska Medical Center after testing positive. Ian Lee has more.
Dr. Jay Bhattacharya, director of the National Institutes of Health and acting director of the Centers for Disease Control and Prevention, spoke with "CBS Evening News" anchor Tony Dokoupil about what risks hantavirus poses to the U.S. public.
Jay Bhattacharya, the acting director of the Centers for Disease Control and Prevention, told CBS News that the hantavirus outbreak should be treated differently from COVID.
Infectious disease experts have sought to reassure people that the hantavirus cruise ship outbreak poses very low risks to the wider public.
The head of the World Health Organization says "our work is not over" to contain hantavirus after evacuations from a cruise ship hit by a deadly outbreak of the illness.
Since the start of the war, Iran has ramped up executions, particularly in cases involving alleged espionage or security-related charges.
Trade, Taiwan and tensions with Iran are surefire topics for President Trump's meeting with Chinese leader Xi Jinping.
American climber Shelley Johannesen died in an avalanche on Mount Makalu, officials said Tuesday, as fatalities mount early in Nepal's busy spring climbing season.
Jay Bhattacharya, the acting director of the Centers for Disease Control and Prevention, told CBS News that the hantavirus outbreak should be treated differently from COVID.
Pop singer accuses electronics manufacturer Samsung of using a copyrighted image of her face to sell TVs.
Annette Bening talks about starring in the "Yellowstone" spinoff "Dutton Ranch," why she wanted to play her character and learning to ride a horse for the role.
Inspired by a true story, Netflix's "The Rip," starring Ben Affleck and Matt Damon, follows two Miami-Dade police officers as they discover more than $20 million of cartel cash during a drug raid and reveals corruption within the department. But now the real-life officers involved in the raid are suing Damon and Affleck through their production company. Carter Evans reports.
Hosted by Jane Pauley. Featured: The Supreme Court ushers in a new era of gerrymandering; the legacy of CBS News Radio; motherless daughters; comedian Martin Short; rebuilding L.A.; remembering Ted Turner; and Martha Stewart prepares a Mother's Day breakfast.
When you learn what Martin Short has endured in his private life, as captured in the hilarious and heartbreaking documentary "Marty: Life Is Short," the comedian's irrepressibly sunny attitude is all the more astonishing.
The online learning platform Canvas, which is used by 30 million students around the world, was hacked Thursday in a massive cyberattack. The platform is used by thousands of schools, including major universities. Jo Ling Kent reports.
A system that thousands of schools and universities use was offline due to a cyberattack.
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.
As more people turn to chatbots for financial advice, experts say AI offers both pros and cons for retirement planning. Here's what to know.
Fitness trackers started as devices for measuring workouts, but now they are designed for 24/7 monitoring and the passive collection of health data. Fitbit announced its latest device, called the Fitbit Air, to compete with other screenless trackers like the Whoop. Tech journalist Lexi Savvides joins CBS News with more.
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Defense Secretary Pete Hegseth said it's time for the American people see it for themselves, as the Pentagon started releasing previously classified documents related to UFOs and UAPs. CBS News Pentagon reporter Eleanor Watson has more.
The Pentagon on Friday released and declassified numerous files on UFOs, including eyewitness testimony, photos and reports. Government knowledge of non-human intelligent life was the subject of the documentary "The Age of Disclosure," released in February. Its director and producer, Dan Farah, joins CBS News to discuss.
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
A strand of DNA. An eerie doorbell video. The investigation into Nancy Guthrie's disappearance reaches 100th day with no sign of a breakthrough.
Years after USA Gymnastics was rocked by the scandal of Larry Nassar, the disgraced doctor who pleaded guilty to molesting multiple young gymnasts, a gymnast alleges another coach abused her as a child because warnings went unheeded. CBS News chief investigative correspondent Jim Axelrod has the details.
Kirk Moore, an Oklahoma high school principal, took a bullet tackling a gunman in his school's lobby. He told CBS News what he did was "just instinct" and said he didn't even realize he'd been shot at first. Matt Gutman has more.
The man accused of starting last year's catastrophic Palisades Fire in Los Angeles appeared in court Monday. Prosecutors said the suspect admired Luigi Mangione, who is accused of murdering UnitedHealthcare CEO Brian Thompson. CBS News' Carter Evans has more.
The lawyers for the man accused of attacking the White House Correspondents' Dinner are seeking to disqualify top prosecutor Jeanine Pirro, acting Attorney General Todd Blanche and other U.S. attorneys in the Washington, D.C. office from the case. CBS News' Jake Rosen has more.
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
The Artemis II team gained a new member, and the crew made sure their youngest teammate had the right stuff for space.
The Artemis II astronauts said they actually really enjoyed the space food, but it was a familiar candy they enjoyed after splashing down in the Pacific Ocean.
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.
President Trump told CBS News exclusively on Monday that he wants to suspend the federal gas tax to give Americans some relief at the pump as the war with Iran continues. CBS News senior White House and political correspondent Ed O'Keefe has more.
The 18 Americans who were aboard a hantavirus-stricken cruise ship have returned to the U.S. and are now in quarantine. One remains in the biocontainment unit at the University of Nebraska Medical Center after testing positive. Ian Lee has more.
Years after USA Gymnastics was rocked by the scandal of Larry Nassar, the disgraced doctor who pleaded guilty to molesting multiple young gymnasts, a gymnast alleges another coach abused her as a child because warnings went unheeded. CBS News chief investigative correspondent Jim Axelrod has the details.
The Supreme Court on Monday lifted a mandate in Alabama requiring the state to use a congressional map with two majority-Black districts. Wall Street Journal columnist Jason Riley joins to discuss his opposition to "racial gerrymandering."
Kirk Moore, an Oklahoma high school principal, took a bullet tackling a gunman in his school's lobby. He told CBS News what he did was "just instinct" and said he didn't even realize he'd been shot at first. Matt Gutman has more.