Good morning from the Financial Times. Today is Friday, December 12th, and this is your FT News Briefing.

Cryptomagnet Doe-Quan got a hefty prison sentence, and the House of Mouse is warming to the world of

artificial intelligence. Plus, we'll introduce you to the hardliner who wants to make Chile great again.

He has been preaching a very kind of severe law and order message and also really focusing on

immigration. I'm Victoria Craig, and here's the news you need to start your day.

South Korea. South Korean Crypto Tycoon Do Kwan was sentenced to 15 years in prison late yesterday on two counts of fraud.

Kwan's Terra-USD and Luna tokens, which he controlled, collapsed in 2022.

That caused $40 billion in losses for investors.

Kwan admitted in a New York court earlier this year that he knowingly defrauded investors.

He pleaded guilty in August. Prosecutors said Kwan created a financial world that was, quote,

built on lies and manipulative and deceptive techniques.

In a letter to the judge ahead of Thursday's sentencing, Kwan said he accepted full responsibility for Tara's failure.

To infinity and beyond may now be more like to artificial intelligence and beyond.

That's because Buzz Lightyear and his crew of misfit toys will soon enter the brave new world of AI.

Disney has agreed to invest a billion dollars in OpenAI.

It's a deal that unleashes more than 200 Marvel, Pixar, and Star Wars characters into the

universe of ChatGPT and SORA, its video generation tool. Until now, the media and AI industries have

been wary of each other. So does this mark a turning point? Chris Grimes is the FTs, Los Angeles

Bureau Chief, and he joins me now to discuss just that. Hi, Chris.

Hi there. So this is the biggest deal of its kind, but there are clear guardrails up around it.

What does this agreement allow and what doesn't it allow?

Sure. So one of the main things that Disney has made clear is that this is for animated characters.

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