Connect with us

Published

on

Sam Bankman-Fried’s legal team is asking a U.S. district court judge to grant the former FTX CEO “uninterrupted access” to his daily prescribed medication while he is in jail. That includes Adderall for treatment of attention-deficit/hyperactivity disorder, or ADHD.

“For over five years Mr. Bankman-Fried has been prescribed Emsam 9mg/24 hrs transdermal patch for the treatment of depression,” Bankman-Fried’s attorney, Mark Cohen, wrote in a letter to Judge Lewis Kaplan on Monday. “And for the past three years, Mr. Bankman-Fried has been prescribed Adderall 10mg tablets, 3-4x/day for the treatment of ADHD.”

On Friday, Kaplan sided with a request by federal prosecutors to revoke Bankman-Fried’s bail over alleged witness tampering. Bankman-Fried was remanded to custody directly from a court hearing in New York and sent to Brooklyn’s Metropolitan Detention Center, or MDC, according to Bureau of Prisons records.

Unless an appeal filed by the defendant’s legal team is successful, Bankman-Fried is expected to remain in custody until his criminal trial, which is due to begin Oct. 2. He faces charges for allegedly conspiring to defraud investors and customers out of billions of dollars in a scheme that led to the collapse of FTX and sent shockwaves throughout the crypto industry. He pleaded not guilty.

The latest request from Bankman-Fried’s lawyers includes a letter from his psychiatrist, George Lerner, who has been treating the former FTX CEO since February 2019.

“Mr. Bankman-Fried has a history of Major Depressive Disorder and Attention Deficit Hyperactivity Disorder,” Lerner wrote.

ADHD is among the most common neurodevelopmental disorders in children. Bankman-Fried told a Bahamas judge in December that he took medication to treat depression and ADHD.

Lerner added in his letter that Bankman-Fried had tried other antidepressants but said they were ineffective for his symptoms.

“Additionally, there have been times when Mr. Bankman-Fried did not have access to the Emsam patch (typically when travelling/abroad) and exhibited symptoms of depression, including lethargy, anhedonia, low motivation, and increased ruminations,” Lerner wrote.

Without his medication, Lerner warned the judge, “Bankman-Fried will experience a return of his depression and ADHD symptoms and will be severely negatively impacted in his ability to assist in his own defense.”

Cohen said Bankman-Fried was only able to bring a “small supply” of his daily medication when he was remanded to custody on Friday — a supply apparently only sufficient to last him a few days.

“We respectfully ask that the Court promptly enter an order directing MDC to ensure that our client has continuous access to the specific medications and dosages that are described in Dr. Lerner’s letter,” wrote Cohen.

For nearly a year, there’s been a nationwide shortage of Adderall, the popular stimulant used to treat ADHD. The U.S. Food and Drug Administration has called on drug manufacturers to up production.

Bankman-Fried was sent to jail over his decision to leak private diary entries by his ex-girlfriend, Caroline Ellison, to The New York Times. In many of her personal writings, Ellison expressed self-doubt and feelings of stress in her role as the former head of Bankman-Fried’s failed crypto hedge fund, Alameda Research.

“I have been feeling pretty unhappy and overwhelmed with my job,” she wrote in an entry dated February 2022. “At the end of the day I can’t wait to go home and turn off my phone and have a drink and get away from it all.”

Ellison, who pleaded guilty to federal charges in December 2022, has been cooperating with the government and is expected to be a star witness for the prosecution.

During his 33-minute ruling Friday, Kaplan said probable cause for witness tampering had been met by the prosecution, adding that Bankman-Fried’s contribution to the Ellison story was designed to “hurt” and “discredit” a witness.

The prosecution described the effort by Bankman-Fried as a “means of indirect witness intimidation through the press.” 

The government has requested that Bankman-Fried be remanded to a jail in Putnam, New York, where he would have access to a laptop with internet access for defense preparation, rather than staying at MDC, which is the facility closest to the courthouse but has limited web access for prisoners.

CNBC’s Dan Mangan contributed to this report.

WATCH: Sam Bankman-Fried’s bail revoked

Continue Reading

Environment

Kia built an electric van for wheelchair users: Check out the new PV5 WAV

Published

on

By

Kia built an electric van for wheelchair users: Check out the new PV5 WAV

Kia’s first electric van is proving to be even more functional. The new PV5 WAV is specifically designed to be affordable, accessible, and wheelchair-friendly. Meet the new Kia PV5 WAV.

Meet the Kia PV5 WAV electric van

The PV5 is a fully electric midsize van. It’s the first of many from Kia’s new Platform Beyond Vehicle (PBV) business.

Kia promised its PBVs would go “Beyond Mobility,” and the company is proving it. On Tuesday, Kia unveiled the new PV5 WAV, calling it “a new era for wheelchair accessible electric vehicles.”

The PV5 is the perfect electric van for the task. Based on its new E-GMP.S EV platform, it has a flat floor design and extended wheelbase, unlocking more interior space.

Advertisement – scroll for more content

Kia designed the electric van not only for wheelchair users but also for their families, caregivers, and drivers. The PV5 WAV features a custom side-entry system to make it easier to get in and out of. An adjustable third-row seat enables users to assist from the side.

It will also feature a specially developed wheelchair belt fastener and entry ramp that can handle up to 661 lbs (300 kg).

According to Kia, the PV5 will include all necessary equipment for individuals with disabilities, based on the AAOS open software platform.

Kia-PV5-WAV-EV-van
Kia PV5 WAV electric van interior (Source: Kia)

The new electric van variant will be built alongside other PV5 models at Kia’s Hwaseong EVO Plant in Korea. Kia opened PV5 Passenger pre-orders (shown below) in the UK on May 1, starting at £32,995, or about $44,000. It will launch in Europe and Korea later this year, followed by other global markets in 2026.

Kia’s Passenger electric van is offered with two battery options: 51.5 kWh or 71.2 kWh, good for up to 179 miles or 249 miles of WLTP driving range.

After partnering with Motability Operations in February, Kia said, “users receiving a disability allowance can choose an affordable and accessible vehicle.”

The PV5 WAV will initially launch in the UK, but Kia plans to expand sales to other global regions. A larger PV7 van will arrive in 2027, followed by the PV9 in 2029. Kia will continue launching new electric variants and use cases. By 2030, the company aims to sell 250,000 electric vans as it taps into a new market.

Last month, at the 2025 Seoul Mobility Show, Kia and LG Electronics unveiled two new “Speilraum” PV5 electric van concepts for camping and other fun uses. What’s next?

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

GOP proposes sending US EV jobs to China, giving money to elites instead

Published

on

By

GOP proposes sending US EV jobs to China, giving money to elites instead

US republicans have unveiled their new tax proposal, which kills a slew of tax credits to help working families become more energy efficient, improve US air quality, and boost US manufacturing. The republican proposal instead channels that money to wealthy elites, increasing the deficit by trillions of dollars along the way.

Republicans in Congress released their 389-page proposal today and, as expected, it includes several provisions to eliminate popular clean energy credits which were driving a boost in American manufacturing.

The credits were largely established under President Biden as part of the Inflation Reduction Act, which raised hundreds of billions of dollars through tax enforcement on wealthy individuals and corporations and channeled that into energy efficiency credits for American families.

We’ve covered how families could save thousands of dollars on upgrades to lower their energy costs through these credits.

Advertisement – scroll for more content

But these credits aren’t just money-saving for Americans, they also work to boost American manufacturing.

Due to various provisions in the bill, particularly around the $7,500 EV tax credit which was limited to cars that undergo final assembly in North America. While loopholes exist, nevertheless the bill resulted in a massive expansion of American manufacturing, driving hundreds of billions of dollars of investment and creating hundreds of thousands of jobs.

But now, republicans in Congress are trying to roll much of that progress back.

Here’s a life of the bill’s various effects (via the BlueGreen Alliance):

  • Attaching restrictions to clean energy and manufacturing tax credits that would make them unusable in practical terms while also “sunsetting” those tax credits early, a move that research suggests will increase costs for American families; 
  • Repealing the Clean Vehicle Tax Credits; 
  • Repealing the Clean Hydrogen Tax Credit; 
  • Clawing back unspent funds for air quality monitoring in schools, clean manufacturing, state and community energy programs, and electric grid upgrades; 
  • Defunding and delaying the Methane Emissions Reduction Program (MERP), which reduces pollution and protects the health of workers and communities; 
  • Clawing back all unspent Inflation Reduction Act funds, including many provisions that would have lowered energy bills, created jobs, and reduced pollution; and 
  • Attacks on many additional Inflation Reduction Act programs and initiatives.   

You can perhaps see a pattern in these effects: they’re primarily targeted towards increasing costs for regular American families who were taking advantage of these tax credits, and towards programs that would keep you and your children healthier.

Previous analyses show how repealing these tax credits would lead to increased electricity prices for all Americans.

It should not be any surprise to anyone that has been paying attention that republicans want to poison you and raise your costs, but some people apparently still need more examples, so here we are.

In particular, the new tax proposal eliminates the US EV tax credit which had driven so much of that investment due to its domestic manufacturing provision (though there are some small carveouts). Not only does that inflate the cost of the best vehicles available today for Americans, it also takes away one of the incentives that was driving investment in US manufacturing.

We’ve warned before that a bill like this would just send more EV jobs to China, a country where nobody is “debating” over which direction the auto industry is going. Chinese automakers all know the industry is going electric, and they’re putting all of their effort into it.

This is quite a contrast with Western automakers which keep hemming and hawing, begging their governments to let them go bankrupt with anti-EV policy decisions that will only slow down their transition towards modernizing to the global EV status quo.

We’ve already seen the effects of other poor policy decisions on manufacturing, with several companies pausing or canceling plans to build manufacturing facilities in North America as a result of tariff chaos at the hands of an ignoramus. Republican districts have been hit hardest, as they were where the majority of this investment had been going.

And we’ve seen it made clear that the republicans in government responsible for protecting clean air would rather poison you and raise your fuel costs, as long as it helps the oil industry which bribed them into their position.

But then, the cherry on top of today’s tax proposal is that its cuts of these credits don’t even have a greater budgetary purpose. Not only was the Inflation Reduction Act revenue-positive – which is to say, it raised more money than it spent, thus reducing the deficit – today’s republican tax bill is revenue-negative, which is to say, it will increase the deficit.

The republican proposal raises the debt ceiling by $4 trillion, and it makes use of virtually all of that headroom, as the Joint Committee on Taxation has estimated that it will add $3.7 trillion to US debt. This is largely due to the bill’s significant giveaways to wealthy elites, with the majority of tax cuts targeted at the wealthiest households.

So the government isn’t even getting any savings out of this bill, merely channeling more money from working families to the wealthy elites that the republican party has always tried to benefit (including in other ways than the clean energy credits, like by cutting health care for the poor).

If you have a republican representative, all it takes is 3 republican Congresspeople to oppose this job-killing bill and to stand up for the well-being of their constituents.

Solar industry analysts have identified four republican Congresspeople who might be swayed in this respect, with their contact info below (Find out more about how this will affect the solar tax credit in this article by Electrek’s Michelle Lewis)

But there are many others whose districts have received significant investment, with EV projects being particularly popular in states like Georgia, North Carolina, and others along the burgeoning US “battery belt”. An interactive tool, including the ability to sort by congressional district, is available here.

Otherwise, you can find your representative on Congress’ website, and then search for the contact form on your representative’s website to get in contact with them.

Of course, if you have a Democratic representative, it’s also worth letting them know that you oppose the tax bill, just in case a few of them decide to jump ranks and join the republicans in harming America. We certainly hope they don’t, but it could happen.


Among the proposed cuts is the rooftop solar credit. That means you could have only until the end of this year to install rooftop solar on your home, before republicans raise the cost of doing so by an average of ~$10,000. So if you want to go solar, get started now.

To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – ad*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The House draft budget kills the 30% residential solar tax credit

Published

on

By

The House draft budget kills the 30% residential solar tax credit

The House’s “One, Big, Beautiful Bill” (yes, it’s really called that) has set an accelerated expiration date of December 31, 2025, for the 30% residential solar tax credit – nearly a decade ahead of its originally planned end date.

Is this the end of the residential solar tax credit?

The point of this giant bill is to extend the expiring Trump-era tax cuts from the 2017 Tax Cuts and Jobs Act, which would cost around $4 trillion over the next decade.

The Republican-majority House Ways and Means Committee proposes terminating section 25D on page 221, which would kill residential solar tax credits at the end of this year, almost a decade ahead of its original end date of December 31, 2034.

(Utility-scale solar’s tax credits remain in place through 2028 before a phase-down to 80% in 2029, 60% in 2030, 40% in 2031, and zero in 2032. That’s earlier than what’s currently law.)

Advertisement – scroll for more content

The original plan included a gradual reduction in residential solar tax credits; this new compressed timeframe leaves no time for the solar industry to prepare. “If Congress eliminates the ITC without a reasonable phase-down, that’s obviously going to cause immediate disruption within the solar industry,” Aaron Nichols with Exact Solar told EnergySage. 

The tax credit is known as the Investment Tax Credit (ITC), and it provides homeowners with a tax credit of 30% of the full cost of their residential solar installation. It was part of the Biden administration’s flagship Inflation Reduction Act.

The House Ways and Means Committee will mark up and then vote on the bill today, and then it will be sent to the entire House of Representatives. It will then be sent to the Senate, which has until July 4 to amend, reject, or pass the bill. 

The bill also proposes that the EV and energy efficiency tax credits be killed.

Electrek’s Take

It’s not hyperbole to say that this would be one of the worst decisions the Republican Party would ever make for the US economy. Nothing about this makes America great.

That’s why Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association (SEIA) released a statement yesterday saying that “at a time when billions of dollars are being invested in states that overwhelmingly voted for President Trump, this proposed legislation will effectively dismantle the most successful industrial onshoring effort in US history.”

And Charlie Hadlow, president and COO of EnergySage, told Electrek that “eliminating the 25D tax credit would be a step backward for American families and small businesses. President Trump has emphasized the need for more domestic energy sources, not fewer, and this credit plays a key role in expanding access to reliable, affordable, homegrown power.”

If this reckless proposal to kill the 30% residential solar tax credit passes, it’s going to raise homeowners’ energy bills, kill jobs, kneecap the solar industry, and hurt small businesses. It will be more of an uphill battle to create a more resilient grid as energy demand skyrockets. It’s going to be much more difficult to compete with China. It makes it harder to reduce emissions (not that Trump’s party cares about that).

Nothing about this budget proposal makes sense. And the thing that makes the least sense is that most of the pain will be felt in red states, where most of the solar industry’s growth is happening.

So, will some Republican lawmakers have the guts to stand up for their constituents? I guess we’ll find out.

Read more: Home solar prices just hit record lows – and storage is even cheaper


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending