Sam Bankman-Fried’s House of (Crypto) Cards 12/13/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 13 December 2022

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

FTX founder Sam Bankman-Fried was arrested by Bahamian authorities Monday evening, setting the stage for extradition and U.S. trial for the one-time crypto billionaire at the heart of the crypto exchange’s collapse. Before his arrest was announced, Bankman-Fried had been expected to testify virtually before the House Financial Services Committee today, but his attorneys told CNBC that he will not appear. Joe Kernen, Becky Quick, and Andrew Ross Sorkin discuss the charges of wire fraud, securities fraud, commodities fraud, and money laundering that face Sam Bankman-Fried. Plus, Moderna and Merck have been developing an experimental cancer vaccine that leverages mRNA technology to target melanoma. In a mid stage trial, the vaccine cut recurrence by 44%; Moderna CEO Stéphane Bancel outlines how the company is working with regulators for accelerated approval. In this episode: Stéphane Bancel, @moderna_tx Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Hi, I'm C. NBC producer Katie Kramer, today on Squackpot. He's known as SBF, now disgraced, arrested, charged.
0:12.8	Sandbankman-freed is now in custody in the Bahamas.
0:16.0	Internally, they had a chat group called Wire Fraud.
0:18.2	Was that right?
0:19.7	How the fallen crypto king will be held responsible
0:22.2	for the FX
0:22.9	collapse and the millions he lost.
0:25.2	Why is he giving all these interviews out
0:27.0	when it should be from a jail cell?
0:29.3	And we've parsed the details of the case
0:31.4	against him that regulators are building now.
0:34.0	It is that, I would argue to you, it is that paragraph more than any other in this entire complaint
0:39.1	when it comes to a criminal allegation that will be if it is true the undoing.
0:43.6	People were calling him the J.P. Morgan.
0:45.6	I never did.
0:46.6	Plus, Moderna making a major breakthrough, the MRNA technology that could save lives. CEO Stephen Bonsell.
0:54.2	Showing a 44% production of recurrence or death
0:58.0	is a big deal for cancer patients.
1:00.4	It's Tuesday December December 13, 2022.
1:03.6	Squawk Pot begins right now.
1:06.2	Good morning.
1:07.0	Welcome to Squawk Box here on C.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.