Industry

Industry

The business side of tech. Developments, legal face-offs, acquisitions, and technology trends.

authorities sam bankman-fried legal arrest fraud cryptocurrency ponzi ftx

Authorities arrest Sam Bankman-Fried on FTX fraud and money laundering

What just happened? Investors taken to the cleaners by Sam Bankman-Fried's FTX exchange will probably be pleased to hear that the man who admittedly made a lot of "mistakes" that cost them their money is in police custody today on fraud and money laundering charges. He was arrested last night in his Bahamian headquarters at the request of US officials.
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Xbox boss Phil Spencer claims Sony plans to grow by "making Xbox smaller"

"Sony is leading the dialogue around why the deal shouldn't go through"
What just happened? Microsoft isn't holding back in its war of wars with Sony over the former's attempted acquisition of Activision Blizzard. Head of Xbox Phil Spencer says its rival is the "one major opposer to the deal," and it all comes down to Sony wanting to protect its dominance in consoles by making Xbox "smaller."
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