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— Stephen Flanders

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🏠 CRYPTO

SBF’s Trial Begins

Happy Holidays everyone. And by holidays, I mean Happy Send Sam Bankman-Fried to Jail season.

The League of Legends legend and former crypto kingpin’s trial for the fraud-fueled demolition of $8B has started, and it’s not looking good for ol Sammy.

Specifically, he faces 7 charges:

• wire fraud on FTX customers

• conspiracy to commit wire fraud on FTX customers

• wire fraud on Alameda Research lenders

• conspiracy to commit wire fraud on Alameda Research lenders

• conspiracy to commit securities fraud on FTX investors

• conspiracy to commit commodities fraud on FTX customers

• conspiracy to commit money laundering

If he’s found guilty, he is looking at somewhere between 10 and 150 years in prison. But this trial brings intrigue beyond the possibility that SBF spends the rest of his life behind bars as the witnesses couldn’t be more dramatic:

• Caroline Ellison, former CEO of Alameda Research and SBF’s ex-boo.

• Gary Wang, former CTO of FTX.

• Nishad Singh, former FTX engineering director.

• Ryan Salame, former CEO of FTX’s Bahamas division.

The prosecution claims SBF is to blame for FTX’s collapse due to intentional fraud, while SBF is claiming FTX died due to market forces outside of his control.

It’s anybody’s guess as to who comes out on top, but if nothing else, we’ll finally find out the truth behind FTX’s demise.

The Big Picture: The crypto community is about to get some closure.

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🤝 THE LATEST IN…

TECH

• TikTok is considering an ad-free subscription plan.

• As is Meta.

• Flexport is quickly becoming the most dramatic show in tech.

• Amazon reportedly used a secret algorithm to jack up prices.

AI

• Bing Chat now has DALL-E 3.

• LinkedIn got a whole bunch of new AI features.

• As did Arc browser.

• It turns out that nobody really knows how much artists can make from generative AI.

SCIENCE

• Researchers might have found the cause of Parkinson’s.

• We are now 3D printing hearts.

• The first blood test for dozens of hereditary cancers was approved by the FDA.

• These robots can change shape mid-flight.

CRYPTO

• Coinbase landed a license in Singapore.

• A whole bunch of ETH futures ETFs are now live.

• Crypto venture funding is plunging further down the toilet.

• The SEC lost their motion to appeal the Ripple decision.

🏃‍♀️ QUICKIES

Raise: Jetson raised a $15M seed round to develop electric vertical takeoff and landing aircraft.

Stat: $150,000: How much the FCC fined Dish Network for not clearing up their space junk, the first such fine in history.

Rabbit hole: The Online Maze Of Job Applications (Career Fair)

😂 WACKY AI WEDNESDAY

Think twice before you mess with the chickens.

🛠️ FOUNDERS CORNER

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💉 DOPAMINE HIT

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