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US accuses the founder of the FTX cryptocurrency platform of creating a fraudulent scheme

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US accuses the founder of the FTX cryptocurrency platform of creating a fraudulent scheme

The US government on Tuesday charged the founder of cryptocurrency platform FTX with various financial crimes, alleging that Sam Bankman-Fried deliberately misled customers and investors for his own financial gain and the benefit of others.

Federal prosecutors allege that starting in 2019, Bankman-Fried developed a “scheme and ploy to defraud” FTX customers and investors.

The FTX founder illegally used their money to cover expenses, debts and risky negotiations at his Alameda Research fund, as well as to purchase luxury real estate and large political donations, according to a 13-page indictment cited by the Associated Press. (AP).

Bankman-Fried, 30, was arrested on Monday in the Bahamas at the request of the US government, which has charged him with eight felony counts ranging from wire fraud to money laundering and conspiracy to commit fraud.

If found guilty on all counts, the founder of FTX, known to crypto enthusiasts as SBF, could face decades in prison.

U.S. Attorney Damian Williams today called the case “one of the biggest frauds in American history,” assuring that the investigation was progressing quickly and asking anyone who believes they are a victim of the alleged scheme to contact his office.

Bankman-Fried fell sharply and quickly from the top of the cryptocurrency industry he helped raise.

FTX filed for bankruptcy on November 11, and later that month, the company’s new management appeared in Delaware bankruptcy court for the first time to begin the restructuring process.

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Lawyers for new management and current boss John Ray said a “substantial amount” of the company’s assets may have been stolen or gone missing.

The new management also claimed that the company had “a complete lack of corporate control” and a lack of “reliable financial information”.

The platform, once valued at $32 billion (€30 billion), could have over a million lenders around the world. So far, the company has admitted that it owes more than $3 billion (€2.8 billion) to the top 50 creditors.

Prior to this scenario, many in Washington and Wall Street viewed the SBF as a digital currency prodigy, someone who could help make them popular, thanks in part to working with lawmakers to bring more control and credibility to the sector.

Bankman-Fried was worth tens of millions of dollars, at least on paper, and was able to attract celebrities such as football player Tom Brady or former politicians such as Tony Blair and Bill Clinton to his conferences in luxury resorts in the Bahamas.

The criminal charge against Bankman-Fried and other elements of FTX is at the top of the civil charges announced today by the US Securities and Exchange Commission (SEC).

This body alleges that Bankman-Fried deceived investors and illegally used their money to purchase real estate in his name and in the name of his family.

The US authorities stressed that they would seek to offset any financial gains Bankman-Fried would make from the proposed scheme.

Bankman-Fried lawyer Mark S. Cohen explained that he “is reviewing the allegations with his legal team and is considering all of his legal options.”

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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