12 PM ET: Sam Bankman-Fried sentence, four presidents in NY, YouTube's splurge & more
CNN 5 Things
CNN
3.7 • 1.3K Ratings
🗓️ 28 March 2024
⏱️ 5 minutes
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| 0:00.0 | Hey there from CNN, I'm Chris Debeau with the five things you need to know for |
| 0:05.0 | Thursday March 28th. Former crypto billionaire Sam Bankman Freed has been |
| 0:10.4 | sentenced to 25 years in federal prison for defrauding FTX customers. |
| 0:15.0 | That's less than the 40 to 50 years prosecutors had asked for, but a lot more than the roughly six years Bankman |
| 0:22.0 | Freed's attorneys wanted. |
| 0:23.7 | Back in November, the 32-year-old founder of cryptocurrency exchange company, FTX, was convicted |
| 0:28.8 | of stealing more than $8 billion from customers and orchestrating a years long cover-up and what |
| 0:34.6 | prosecutors described as one of the largest financial frauds in history. The now |
| 0:39.1 | collapsed FTS had built itself as a safe and easy way to trade |
| 0:43.1 | cryptocurrencies. But another company owned by Bankman Freed |
| 0:46.5 | had been secretly siphoning deposits |
| 0:48.8 | and using some of the money to fund executives' luxury |
| 0:51.9 | lifestyles. |
| 0:53.0 | In court today, Bankman Freed apologized for letting people down |
| 0:56.4 | and said the collapse of FTX, quote, |
| 0:58.6 | haunts him every day. |
| 1:01.2 | Conditions at the site of the Baltimore Bridge Collapse are bad, so authorities are moving from a recovery mode to a salvage operation. |
| 1:08.0 | The bodies of two of the six construction workers who died after a container ship hit a pillar of the Francis |
| 1:14.1 | Scott Key Bridge have been recovered. |
| 1:16.3 | Now more than 1,000 personnel from the U.S. Army Corps of Engineers have been activated to help clear |
| 1:21.5 | the critical shipping channel that's impacting trade. |
| 1:24.0 | A big question that remains is how did the ship lose power? |
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