Mar. 28, 2024 at 9:48 pm

Sam Bankman-Fried sentenced, Baltimore bridge crash, solar eclipse tips: Thursday’s news

March 28, 2024no commentNo tags

FTX founder Sam Bankman-Fried’s crypto fraud lands him 25 years in prison. The U.S. says it warned Russia “in writing” about a terrorist threat before a concert shooting in Moscow. And could the solar eclipse be dangerous?

Hi!Laura Davis here. It’s that time again: Thursday’s news! Let’s get to it.

But first: Congratulations are in order! Punxsutawney Phil is a dad! See the 2 groundhog pups welcomed by Phil and his wife, Phyllis.

FTX founder sentenced for $8 billion crypto fraud

Sam Bankman-Fried was sentenced to 25 years in prison Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind’s dramatic downfall.

From the courtroom: U.S. District Judge Lewis Kaplan handed down the sentence after rejecting Bankman-Fried’s claim that FTX customers did not actually lose money and accusing him of lying during his testimony.

How we got here: A jury in November found Bankman-Fried, 32, guilty on seven fraud and conspiracy counts stemming from FTX’s 2022 collapse in what prosecutors have called one of the biggest financial frauds in U.S. history. Kaplan said he had found that FTX customers lost $8 billion, FTX’s equity investors lost $1.7 billion, and lenders to the Alameda Research hedge fund Bankman-Fried founded lost $1.3 billion. Everything that happened in court.

Massive cleanup challenge in Baltimore

Authorities forged ahead Thursday with a salvage operation to remove the mangled wreckage from the Patapsco River before recovering the bodies of four construction workers and clearing the waterway so the Port of Baltimore, a crucial East Coast shipping hub, can resume operations.

Victims recovered: On Wednesday, rescuers found the bodies of two men trapped in a red pickup around the bridge’s middle span, officials said. According to authorities, the workers were from Mexico, Guatemala, El Salvador and Honduras. Four were still missing.

Massive efforts: The piles of wreckage in the water, as well as the 984-foot-long cargo ship, forced authorities to shut down the port, which handles more cars and farm equipment than any other port in the nation. Addressing the close collaboration between local, state and federal officials, Maryland Gov. Wes Moore called it a “global crisis.” More updates.

Seemore: Photos from aboard the crashed cargo ship.

Real quick

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Watch out for danger during the eclipse

The upcoming solar eclipse, as exciting and fun as it promises to be, also comes with a growing number of safety warnings – both for what will happen in the sky and on the ground April 8.

What we’ve heard so far: Warnings are spreading about potentially dangerous fake eclipse glasses, the possibility for increased car crashes around the time of the eclipse – even air travel headaches because of delayed or canceled flights.

Look out: Safety is always a concern around solar eclipses, when millions of people will look to the sky as the moon passes in front of the sun. You have to wear special glasses – and you should probably stand still to avoid tripping over something. Some other things to watch out for.

US: Russia was warned before terrorist attack

The U.S. had warned Russia “in writing” about the terrorist attack at the Moscow concert venue that left at least 143 dead, the White House said Thursday.

The warning: John Kirby, a White House spokesman on national security, condemned Russian President Vladimir Putin for blaming others even after the Islamic State had claimed responsibility for the attack. He said the U.S. provided “clear, detailed information” about a terrorist threat in Russia two weeks before the March 22 massacre at Moscow’s Crocus City Hall.

Blame game: Russian officials have “sought to deflect blame onto Ukraine, the United States and everyone else who suits their political narratives,” Kirby said. More about the warning.

Sam Bankman-Fried sentenced, Baltimore bridge crash, solar eclipse tips: Thursday’s news

FTX founder sentenced for $8 billion crypto fraud

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