SBF · 1389

Netflix: FTX-related series The Altruists is scheduled to be released on November 19

Comparatively, Netflix announced that the series “The Altruists,” inspired by the rise and fall experiences of FTX founder SBF and former Alameda Research CEO Caroline Ellison, will be released on November 19, and stills will be released for the first time. The 8-episode series features Anthony Boyle as SBF and Julia Garner as Caroline Ellison. Netflix said in the synopsis that the drama tells the story of two young idealists trying to quickly reshape the global financial system, then being accused of stealing $8 billion and ultimately falling from the peak of financial power. “The Altruists” was created by Graham Moore and inspired by articles by New York Magazine reporters Kevin T. Dugan and Jen Wieczner. Barack Obama and Michelle Obama are also executive producers of the show.

8d ago

US appellate court upholds SBF conviction and 25-year sentence

According to the news, the US Second Circuit Court of Appeals officially issued an order to uphold the seven felony convictions and 25-year prison sentence against former FTX CEO Sam Bankman-Fried, and to dismiss his appeal claim that investors can receive full compensation.

16d ago

[Comparative Daily News Picks] Blackstone plans to build a financing plan of more than 36 billion US dollars for Anthropic; the Dow Jones Index closed up 907.53 points, and both the S&P 500 and NASDAQ reached new highs; SpaceX's revenue exceeded expectations, and the 100 billion unban wave is approaching this week; Polymarket is seeking financing at a valuation of more than 20 billion US dollars; the White House does not plan to disclose the details of the advanced AI model evaluation framework

Daily AI · Crypto · Macro · Market News, Bitpush helps you set priorities ↓ AI · News [Blackstone plans to build a financing plan of over 36 billion US dollars for Anthropic] Comparing news, Blackstone Inc. is in preliminary communication with investors to assess the viability of raising a second hyperscale debt financing for Anthropic to support its plans to purchase Google AI chips. The financing plan reflects that AI companies are obtaining computing power resources through large-scale capital operations. As demand for big model training and inference continues to grow, AI companies are seeking new financing methods to support the construction of expensive computing infrastructure. People familiar with the matter revealed that a preliminary plan proposed by Blackstone reached at least $36 billion. The size of the funding, structure, and whether Blackstone will eventually dominate the deal are still under discussion, and details are subject to change. (Bloomberg) [Nvidia Launches Alpamayo 2 Super to Accelerate AI Development for Autonomous Driving] In comparison, Nvidia CEO Wong In-hoon posted an article on the X platform announcing the launch of Alpamayo 2 Super, a cutting-edge open reasoning model (open reasoning model) for the field of autonomous driving, adding that the development focus of the next phase of AI will expand from software intelligence to the field of robotics, and autonomous vehicles will become an important entry point into the robotics era. Hwang In-hoon said that Alpamayo 2 Super can not only “see” the road environment, but also understand and reason complex scenes and think before performing actions. It can be used as a core AI model for autonomous taxis, unmanned trucks, shuttle vehicles, delivery vehicles, agricultural robots, and future large-scale mobile robot systems. According to reports, Nvidia opened the model for commercial applications under the OpenMDW-1.1 license, and developers and enterprises can research, fine-tune, and deploy the model. Hwang In-hoon said that the open model will help improve the safety and reliability of autonomous driving systems. [AMD's 2026 Q2 revenue is US$11.5 billion, market forecast is US$11.284 billion] In comparison, AMD (AMD.O) has Q2 revenue of US$11.5 billion in 2026, with market expectations of US$11.284 billion, compared to US$7.685 billion for the same period last year. The estimated Q3 revenue for 2026 is US$12.7 billion to US$13.3 billion, and the market is expected to be US$12.51 billion. [SpaceX's revenue exceeds expectations, the 100 billion ban will be lifted this week] Comparing news, SpaceX announced Q2 revenue (7.8 billion US dollars), which exceeded Wall Street expectations (6.8 billion US dollars). The company previously raised 86 billion US dollars through the largest IPO in history. Since then, the stock price has dropped sharply due to post-IPO fluctuations and the overall sell-off of the AI sector. More than 1 trillion US dollars of market value has evaporated from its peak, and Musk's status as the world's first trillionaire has also been lost. Another factor adding uncertainty to the company is that the ban on stocks with a market value of more than 100 billion US dollars will be lifted later this week, which may put further downward pressure on stock prices. During the conference call, analysts are likely to ask Musk for details on the company's huge AI spending, Starlink's Internet business expansion plans, and how fast Starship can launch satellites and people. Crypto · Market [The Dow Jones Index closed up 907.53 points, and both the S&P 500 and NASDAQ reached new highs]. Comparing news, the Dow Jones Index closed up 907.53 points, or 1.71%, to 54,085.94 points; the S&P 500 rose 136.02 points, or 1.79%, to 7,736.52 points; the Nasdaq Composite Index rose 671.1 points, or 2.59%, to 26,584.99 points . [Polymarket seeks financing at a valuation of more than 20 billion US dollars] Comparing news, it is predicted that the market Polymarket will seek financing at a valuation of more than 20 billion US dollars. [New York Federal Court of Appeals Rejects SBF's Appeal and Conspiracy Convictions] In comparison, the New York Federal Court of Appeals on Tuesday upheld SBF's conviction for fraud and conspiracy after its crypto trading platform FTX went out of business. In 2024, S...

17d agoWendy#Compare Daily Picks

New York federal court dismisses SBF appeal

Comparing news, according to ABC News, the New York Federal Court of Appeals on Tuesday upheld SBF's conviction for fraud and conspiracy after its crypto trading platform FTX went out of business. In 2024, SBF was sentenced to 25 years in prison for planning what the prosecution called one of the biggest financial fraud cases in US history.

18d ago

24-year-old AI stock god Leopold, who has just been cleared for tens of billions of dollars, got married this weekend. His fiancee is Anthropic CEO's chief of staff

Comparing news, CNBC quoted two people familiar with the matter as saying that 24-year-old former OpenAI researcher Leopold Aschenbrenner will get married this weekend. Fiancée Avital Balwit is currently Chief of Staff to Anthropic CEO Dario Amodei. The two worked together at the FTX Future Fund founded by SBF. After the collapse of FTX, Leopold joined OpenAI, and Avital later joined Anthropic. On the eve of the wedding, Leopold's fund had just sold most of its stock positions to Citadel. Netizens ridiculed that Leopold was busy getting married, and the divorced Citadel founder Ken Griffin was busy making money.

22d ago

More founders than customers: the social frenzy behind America's wave of fake startups

Author: Ed Elson Compiled by: Shenchao TechFlow Original title: False Entrepreneurship Wave: The US registers 5.8 million new companies every year, and 70% never hire people Shenzhen Chao Guide: The number of newly registered companies in the US reached a record high last year, but there is an embarrassing truth behind the data — 70% of new companies don't plan to hire people at all; they are just part-time jobs covered by the LLC shell. When “founder” became the trendiest social hashtag, and starting a company was cheaper than dating, true entrepreneurship was being diluted into an Instagram personality. There isn't much good news for the US economy right now. Oil prices have soared, mortgage interest rates have risen, the labor force participation rate has plummeted, and the cost of living crisis has intensified. There is, however, one bright spot that excites many economists: American entrepreneurship is on the rise. Nearly 6 million new business applications were submitted last year (a record high), and we are expected to break that record in 2026. All else aside, America is probably more entrepreneurial than ever before. That's why I was shocked when my colleague Dan Chiolan shared the following data last week: Of the 5.7 million newly established businesses last year, only 30% were expected to create any jobs... forever. Wait... what? That's right, you read that right. According to the US Census Bureau, about 70% of new businesses in the US are classified as “likely non-employers,” meaning they are not expected to create any jobs at all. How do we know? Through various factors, such as whether the business owner provided a date for the first wage payment, or whether they indicated they were hiring. The data tells us that the US isn't creating more businesses; it's just submitting more paperwork. Is this just an example? It's not. The share of new businesses that are unlikely to hire people has doubled in the past two decades. At the same time, the share of “high-propensity” companies (that is, those that are likely to hire) has halved, and actual numbers have stagnated, which means that (real) American entrepreneurship has actually come to a standstill. Figure: Trends in new US business registration applications from 2006 to 2026. Light pink is “likely employer” and dark orange is “likely non-employer.” Source: U.S. Census Bureau, Stripe. How is that possible? Does it have anything to do with AI? Probably not, because this trend started long before ChatGPT appeared. Looking at the surge in 2020, it's more likely related to COVID-19, which means it's probably related to people staying at home doing nothing. Let me introduce my latest economic theory: the wave of false entrepreneurship. What we are seeing is not the rise of entrepreneurship, but the rise of what I call fake enterprises. What is a fake business? It just means it literally. It's a “creative side business project” that your high school friend started when they were bored during the pandemic lockdown. It's a “lifestyle brand” for your distant cousin. It hasn't sold a single product yet, but it's already running Substack. It's the kind of “collective” whose mission isn't to collect revenue but rather to collect Instagram followers. It's the kind of business you can barely make time to do without quitting your job because... it's not a real business at all. It's a hobby you just happened to sign up for. How do people have time to register their hobby as a company? Because now it only takes about 15 minutes to create an LLC. It costs around $130 — around 30% less than the average appointment price. In other words, the easiest hobby to start in America isn't pottery or pickleball... it's starting a business. Can I prove my theory? Impossible. But just like gravitation, I don't know any other theory that makes sense. The number of non-employer businesses is soaring, while the revenue generated by these companies is plummeting, which means there are millions of new businesses with little to no sales. Given how many of my friends started Instagram accounts pretending to be “companies,” people can only extrapolate this evidence and conclude that they are the problem. Figure: The number of non-employer businesses in the US (left) compared to average income (right) from 1997 to 2023. Source: U.S. Census Bureau, Bureau of Labor Statistics, Bloomberg. The question of entrepreneurship education is such a problem. Why would anyone set up a fake business? Why don't you just have a hobby outside of work? Why turn it into an LLC? The answer is as simple as all trends: because it's popular now. The most popular profession in the world today is “founder.” From Hwang In-hoon to Musk, the founders are us...

24d agoburnking#agent #AI #AI agent #Virtuals #token

BitMEX is about to close, but perpetual contracts are moving towards mainstream finance

Author: Cookie Original title: King of Leverage Closing: BitMEX is dead, perpetual contracts last forever. On July 23, BitMEX posted a farewell letter on its official website. The exchange will stop trading services on September 23, 2026, without giving a more specific reason, only stating that the board of directors decided to close the exchange after reviewing the company and the entire crypto industry. BitMEX is no longer a mainstream exchange in today's crypto market. Binance, OKX, and Bybit occupy the centralized contract market, and on-chain platforms such as Hyperliquid have taken away a new generation of traders. Many newcomers to the industry don't even know about BitMEX. But its exit still deserves to be carefully recorded. The most important product of almost all crypto exchanges today, perpetual contracts, was commercialized and promoted to the entire industry by BitMEX. It also brought high leverage, funding rates, tag prices, and automatic position reduction into the crypto market, which shaped the way transactions were carried out for the next decade. If stablecoins brought the US dollar into the crypto world, then perpetual contracts represent another opposite route: a financial product that has matured in the crypto market and is accepted by traditional finance. Exchanges will die, and perpetual contracts won't. This is probably the most decent obituary BitMEX has left for the industry. Three people, 100 times more, Arthur Hayes, a former Deutsche Bank and Citibank trader, registered a company called BitMEX in Hong Kong, with the full name Bitcoin Mercantile Exchange, Bitcoin commodity exchange. Partners are mathematician Ben Delo and programmer Samuel Reed. Three people, one vision: to move Wall Street's derivatives gameplay to Bitcoin and drive leverage to levels that Wall Street wouldn't dare to imagine. One hundred times. In the world of traditional finance, the leverage that retail investors can touch is usually two to five times, and futures professionals can survive 20 times. BitMEX directly paid a hundredfold, which meant that the price fluctuated 1% in reverse and the position returned to zero. Critics call it a “Bitcoin casino,” and Hayes never argues. He wears a “100x” t-shirt in public, using the casino's neon lights as a brand asset. The early crypto market gave the best soil for this kind of radicalization. With no regulation, no KYC, you can open an account with an email address, and gamblers and traders from all over the world flock to the same order book. By 2019, BitMEX surpassed $16 billion in a single day, moved into Hong Kong's Cheung Kong Center and leased out the most expensive office in Asia at the time. Downstairs was Li Ka-shing. In July of that year, Hayes debated on the same stage with “Doctor Doom” Roubini in Taipei, and the audience was full. A Wall Street abandonment, leaning on an offshore casino, sat in a position to fight with mainstream economists. This is the pinnacle of BitMEX, and the pinnacle of the crypto industry in the old days: barbaric, profiteering, and just one time zone away from the iron fist of regulation. A contract that restructures the market structure and only looks at BitMEX as a casino will miss some key information. In May 2016, BitMEX launched XBTUSD, the first perpetual contract in human finance history. To understand its weight, you must first understand the trouble of traditional futures: futures have an expiration date, are delivered every quarter, traders have to keep moving positions, and liquidity is shattered in contracts of different months, like a river divided into several sections by a dam. The perpetual contract removed all the dams. It has no expiration date, and can be held forever. The spot price is anchored by a mechanism called the capital rate: the contract price is higher than the spot price, and the bulls pay the bears a small amount of money every eight hours; below the spot, and vice versa. The farther away the price deviates, the higher the rate. Arbitragers smell money entering the market and pulling the price back to the anchor point. No delivery, no need to move warehouses. A river runs from beginning to end, and all liquidity flows into the same pool. The beauty of this design is that it uses a simple economic incentive to replace a complete complex delivery and settlement system for traditional futures. Its profound impact can only be clearly seen in a larger coordinate system: stablecoins solve the “cash” problem in the crypto world, allowing dollars to circulate on the chain in the form of tokens; perpetual contracts solve the “risk transfer” problem, allowing anyone to express views on prices at any time and in any direction. The adoption curve is the best proof. Perpetual contracts first swallowed up the crypto derivatives market: Binance, OKX, and Bybit all copied it. FTX relied on it to rise, Hyperliquid brought it onto the chain, and now...

30d agoburnking#BitMEX #Bybit #OKX #Exchanges #Shut down the tide topic #Binance

US Senate unanimously resolves that SBF cannot be pardoned under any circumstances

Comparatively speaking, the US Senate passed a unanimous resolution on Wednesday stating that FTX founder Sam Bankman-Fried should not be pardoned or commuted by the president under any circumstances. The non-binding resolution was co-sponsored by two leaders of the Senate Banking Committee's Digital Assets Subcommittee — Wyoming Republican Senator Cynthia Lummis and Arizona Democratic Senator Ruben Gallego. Lummis is the crypto industry's staunch supporter in Congress and has been driving the industry's legislative framework for years, but clearly advocated the continued imposition of SBF in this case. Gallego's statement ended with four words: keep him in jail. According to the current sentence, SBF will not be able to apply for release until around 2044.

37d ago

US Senate unanimously opposes pardoning FTX founder SBF

Comparatively, the US Senate passed a non-binding resolution by consensus, clearly stating that FTX founder Sam Bankman-Fried should not be pardoned or commuted by the president under any circumstances. The resolution was promoted by Senators Cynthia Lummis and Ruben Gallego. SBF was found guilty in November 2023 on 7 charges relating to the collapse of FTX and is currently expected to be released as early as around 2044. US President Trump said in January this year that there are no plans to pardon the SBF. (CoinDesk)

37d ago

Trump pardoned 11 people who were not on the SBF list, and today's celebration was the focus

Comparatively, US President Trump signed a pardon on the day before Independence Day (3rd local time), pardoning a total of 11 people, including many people who have been convicted for violating the Clean Air Act. Trump called these people victims of persecution by the Biden administration. They were imprisoned or faced jail time for repairing their cars, and I will now let them all be set free. Notably, FTX founder SBF, the most watched potential amnesty target in the crypto space, has yet to make it onto the published amnesty list. Today (4th) coincides with America's 250th anniversary celebration. Trump will attend events in many places. The White House previously discussed introducing a large-scale amnesty for 250 people during the US 250th anniversary celebration as part of the celebration. However, these are still under consideration and have yet to be officially announced. The market is concerned about Trump's statement today. The race for pardon under the Trump administration has escalated markedly. The president himself has exercised unprecedented personal control over the pardon process, frequently using the power of pardon to support allies and advance his own political demands. The pardon affairs are managed by a small team composed of White House Special Counsel David Warrington, Chief of Staff Susie Wiles, and US Pardon Attorney Ed Martin. Most cases are first tried by Warrington, Martin, and the Department of Justice. The selected candidates are submitted to Wiles for review, and Warrington and Wiles then submit the final candidates to Trump for decision.

49d ago