Prosecutors drop a different charge from FTX co-founder Sam Bankman-Fried

Key Points

Federal prosecutors advised a Manhattan choose that they wouldn’t pursue a marketing campaign finance cost against FTX founder Sam Bankman-Fried following a procedural failing.
It is really the next time Manhattan prosecutors have had to forgo charging the billionaire, who is accused of precipitating the collapse of his crypto exchange via a multi-billion dollar fraud.
Bankman-Fried nonetheless faces several wire and securities fraud fees.

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Finance

Photos show Altman, Iger and Cook arrive at ‘summer camp for billionaires’ in Sun Valley

July 9, 2025

Key Points Top executives from tech, media and finance gathered in Sun Valley, Idaho, for Allen & Co.’s annual conference this week. The gathering is often referred to as “summer camp for billionaires.” Apple CEO Tim Cook, Walmart CEO Doug McMillon, Disney CEO Bob Iger and OpenAI CEO Sam Altman were pictured entering the lodge. […]

Finance

Trump’s next Fed chair pick already comes with a credibility problem

July 9, 2025

Key Points The next Fed chair faces an additional burden: credibility issues now that President Donald Trump has stepped up efforts to exert a heavy hand on monetary policy. Trump reportedly is considering naming a “shadow chair” until the current occupant, Jerome Powell, leaves office next year, in an attempt to pressure the Fed into […]

Finance

Trump’s ‘big beautiful bill’ slashes CFPB funding: What it means for you

July 9, 2025

Key Points President Trump signed a so-called big beautiful bill on July 4 that nearly halves annual funding for the Consumer Financial Protection Bureau. CFPB funding would fall to 6.5% of the annual operating expenses of the Federal Reserve, down from 12%. That’s the lowest share in agency history. Consumer advocates say the funding will […]