Judge Lewis Kaplan made clear Thursday morning that he didn't buy any of the defense's arguments for a lighter sentence for Sam Bankman-Fried, the disgraced founder of FTX who now faces nearly three decades behind bars.
Why it matters: The court's analysis meant that SBF — convicted in November of crimes including fraud and conspiracy to commit money laundering — qualified for the highest possible level of sentencing guidelines, with the maximum score of 43.
A federal judge slapped Sam Bankman-Fried with a 25-year sentence on Thursday for his role in bankrupting cryptocurrency platform FTX and defrauding its customers, completing his downfall from quirky billionaire philanthropist to felon.
Why it matters: Judge Lewis Kaplan chose a much harsher sentence for the disgraced crypto mogul than the defense's request of five to seven years.
Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison by a Manhattan federal judge on Thursday after being found guilty last year of orchestrating a multibillion-dollar fraud scheme at the now-bankrupt crypto exchange.
At a time when trust in media has hit historic lows, news networks are making a calculated decision to rely on ex-politicos as part of their fight for relevance and ratings in a hyper-polarized world, Axios' Sara Fischer and Zachary Basu write.
💭 Eleanor's thought bubble: If the Post story ever publishes, maybe we will revisit this quote to see if Mulkey's upstreaming, go-direct strategy worked.
NBC News has been navigating a high-profile reputational crisis surrounding its aborted hiring of ex-RNC chair Ronna McDaniel as a contributor.
Why it matters: The potential for internal blowback is something communication leaders can anticipate, prepare for and test against, and that's why they should be at the table when big decisions are made.
When there's difficult, thorny or potentially polarizing news to share, executives are increasingly turning to employee resource groups (ERGs) for guidance.
Why it matters: ERGs were initially created to cultivate more inclusive work environments, but also to serve as key communications tools to assess employee sentiment and help shape internal messaging on social, cultural or geopolitical issues.
One year after a massive bank run led to Silicon Valley Bank's failure, top banking scholars have ideas for how to contain the risks of a new era in which customers can yank deposits with a tap on their phone.
Why it matters: Last year's regional bank failures showed how quickly customers can pull funds in response to fast-moving information, a key cause of the collapses of SVB and First Republic Bank.
Universal Music Group and Spotify on Thursday expanded their relationship, with UMG artists to get expanded video and social features for promoting new releases.
Why it matters: This deal strengthens ties between UMG and Spotify, amid the record label's fight with TikTok.
Home Depot on Thursday agreed to buy building materials supplier SRS Distribution for around $18.25 billion from private equity firms Leonard Green & Partners and Berkshire Partners.
The big picture: Inflation has caused many homeowners to scale back on large DIY projects, leading Home Depot and its rivals to scale up offerings for professional builders and contractors.
Driving the news: Released earlier this week, an analysis of the often derided environmental, social and governance investing trend paints a mixed picture of what some critics have denounced as "woke capitalism."
Boeing's largest union is in contract talks with the beleaguered airplane company for the first time in more than a decade — and it's seizing the moment to push for cultural change.
Why it matters: The negotiations are taking place amid a full-blown corporate crisis, giving the union incredible leverage.
Divers searching for six Baltimore construction workers who were on the Francis Scott Key Bridge when it collapsed recovered two bodies from a pickup truck they found submerged in water on Wednesday, officials said.
The big picture: The workers, whom authorities identified at a briefing as Dorlián Castillo Cabrera, 26, of Dundalk, and Alejandro Hernandez Fuentes, 35, of Baltimore, were among a group filling potholes on the bridge when it collapsed after a cargo ship struck it.
The voyage data recorder of the cargo ship that crashed into the Baltimore bridge and led to its collapse was recovered on Wednesday as National Transportation Safety Board investigators work to determine the cause of the incident.
The big picture: NTSB Chair Jennifer Homendy told CNN that investigators would examine the recorder from the Singapore-flagged Dali to try and determine how it lost power and would look into reports that dirty fuel may have played a role in the ship losing power and hitting the Francis Scott Key Bridge.
