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Sam Bankman-Fried stands as forewoman reads the verdict to the court.

Artist: Elizabeth Williams

Just before 8 p.m. on Thursday, 12 jurors found Sam Bankman-Fried guilty of all seven counts against him. You could have heard a pin drop in the courtroom as the forewoman repeated the word “guilty” seven times in a row into a handheld microphone.

Bankman-Fried stood facing the jury box, neither flinching nor betraying any sort of emotion. In less than three hours of deliberation, jurors had swiftly come to the conclusion that Bankman-Fried had defrauded FTX customers, as well as lenders to its sister hedge fund, Alameda Research.

Bankman-Fried’s criminal trial was held in room 26b on the top floor of 500 Pearl Street, one of two federal courthouses of the Southern District of New York. The building fast became the de facto headquarters for many journalists over the last five weeks.

The courthouse had a few hard-and-fast rules, and a number of looser guidelines depending on who was on duty.

The big non-negotiable was no electronics in the courthouse. There were certain workarounds, like having a seat in the media room, which required your publication to have covered around half a dozen SDNY cases. There, you have access to electricity and internet, an absolute game changer when every second counts. (CNBC put out a note requesting access ahead of the trial — an email which was ultimately ignored.)

The second workaround involved borrowing the resources of CNBC’s capable and kind television photographers. Stashing a backpack with electronics in a car parked on Pearl Street made it possible to sprint from the courtroom to the car, then to a nearby park bench, where this CNBC writer could type and dispatch notes to editors in San Francisco. A 65-watt power bank compatible with a USB-C laptop charging cord proved essential to the operation.

As the days grew colder, it was essential to have a seat in a car to keep your fingers warm. Every exit to file a report included another breakneck trip through security, in a sort of run, rinse, repeat cycle — security, courtroom, exit, photographer’s car to file, back up through security, over and over again. Running shoes were part of the daily uniform.

If you had neither a seat in the media room nor a trusted colleague with whom to stash your electronics, the alternative was opting into the court’s coat check system, which looks like a scene from a Vegas casino. Depending upon the number of electronics you have, you get a different colored poker chip.

For CNBC, the chip was always black, and this writer was able to sprint past the coat check and get up to the courtroom faster than people who had to check their belongings. It also made for a swifter exit not having to wait in line to retrieve checked items.

No electronics inside the courthouse meant relying on a steady stash of notebooks, pens, and highlighters. A non-smart watch was another must-have, as were easily hidden snacks like Starbursts and mini chocolate chip Clif bars.

And perhaps second in importance only to pen and paper was an opaque water bottle that could hold coffee — tantamount to illicit contraband in the courthouse. (Rumor had it that a spilled coffee resulted in a $100,000 expense to replace the portion of carpet affected by the mishap.)

Another essential hack was keeping all supplies in a clear Auburn University totebag, an accessory that garnered a lot of attention from one security guard who was a Georgia fan. The bag’s transparency expedited the process of getting through security in a game where every second made a difference.

A cafe on the 8th floor offered the cheapest quality lunch you can find in downtown Manhattan, including discounted prices on candy like M&Ms and Starbursts.

In the courtroom, only 21 seats were reserved for the public, including journalists. Some days, it was easier to land a spot than others. On the eve of Bankman-Fried’s second day of testimony before the jury, for example, the line began at 10 p.m. the night before, and the 21st seat was taken by around 3 a.m. the following morning.

CNBC correspondent MacKenzie Sigalos reporting on the Sam Bankman-Fried trial from outside the SDNY courthouse at 500 Pearl Street in downtown Manhattan.

Dan Mangan

Over time, some long-haul reporters grew to prefer the overflow courtrooms on the 23rd and 24th floors. In overflow, events from the proceedings were live streamed on a series of monitors, and unlike the room where it was all going down, you had a bit more freedom to sometimes eat and drink whatever you wanted, to (reportedly) vape and take side bets on government objection tallies, and critically, to laugh out loud when testimony seemed especially evasive or outrageous.

Overflow contained a veritable who’s who of journalists, actors, bestselling authors, and white-collar criminals.

During the first week of the trial, Martin Shkreli, the so-called “Pharma bro,” who was sent to federal prison for hiking the price of a life-saving drug by around 5,000% overnight, showed up to watch.

Across the multiple days of Bankman-Fried’s testimony, CNBC correspondent Andrew Ross-Sorkin popped into overflow after he wrapped his morning show, as did the defendant’s recent biographer, Michael Lewis, who always had on a pair of HOKA sneakers — off-white from wear, with neon-peach colored laces and bright yellow soles.

Lewis would often slip in at the last minute, queueing in the security line around 9:26 a.m. one morning, allowing just a few minutes before the trial was due to resume. Intentionally arriving late is a pro move. If you aren’t going to be one of the first 21 people to arrive, the goal is to cut it as close as possible to the start of court. Staying with your electronics allowed you to optimize for time writing while concurrently skipping the long wait in line. One journalist compared the just-in-time strategy to an Indiana Jones-style entrance.

Lewis, whose book about Bankman-Fried and his inner circle was released on the first day of trial, was often swarmed in the elevator and on breaks from testimony by other writers keen for a moment with the author.

Then there was Ben McKenzie, an actor who first rose to stardom with his leading role on the long-running show, The O.C. McKenzie, who has had a lengthy acting career since, recently ventured into the world of crypto reporting with a book he co-wrote, “Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud.”

Attorneys and interested civilians also filled the pews of overflow.

This motley crew of characters became close over the course of five weeks. Cut off from electronics and connections to the outside world, an inevitable bond of camaraderie formed. These were the people who helped you fill a missing name or finish a quote when you had 20 seconds in the elevator before sprinting out to grab your laptop.

Sam Bankman-Fried’s parents, seated to the left, react to the verdict. U.S. Attorney Damian Williams is seated to the far right.

Artist: Elizabeth Williams

The moment of truth

Back in the courtroom on Thursday evening, the anticipation was palpable in room 26b on the top floor of 500 Pearl Street. Every pew was filled with the same faces that had crowded the courthouse since the trial began on Oct. 3 — a group comprised of some of the top names in business and crypto news media.

Most in the gallery were dressed in multiple layers of fleece-lined jackets, sweaters, and a mix of jeans and sweatpants. Any hint of formal dress was gone by the second week of court, in part thanks to the weather. Over the course of the monthlong trial, the temperature had plunged from 79 degrees Fahrenheit to 42 degrees on the evening the verdict was read.

But in Judge Kaplan’s courtroom that evening, there was no way of knowing what it was like outside. Typically, during the day, the ceiling-high windows along the perimeter of the courtroom would offer unrivaled views over the Manhattan skyline. But that night, opaque white blinds obscured the world beyond the domain of the 78-year-old judge.

The jury had been sent to deliberate at 3:15 p.m. and had been given an hour to eat pizza for dinner, courtesy of the government. By 7:30 p.m., it was unclear to the room of writers whether the jury would reach a unanimous decision by the deadline of 8 p.m., when the last security shift ended. They’d had less than four hours to consider the evidence in a trial that had run for a month and consisted of nearly 20 witnesses and hundreds of exhibits.

Then, at 7:37 p.m., attorneys for both the government and the defense rushed back as the clerk announced, “The jury has reached a verdict.” A minute later, jurors were back in their seats.

FTX founder Sam Bankman-Fried is questioned by prosecutor Danielle Sassoon (not seen) during his fraud trial over the collapse of the bankrupt cryptocurrency exchange at federal court in New York City, U.S., October 31, 2023 in this courtroom sketch. 

Jane Rosenberg | Reuters

All eyes were trained on Bankman-Fried, as well his parents, Joe Bankman and Barbara Fried, who sat clutching one another in the second row. Neither they nor their son shed a tear over the course of the proceedings, in what appeared to be stoicism or perhaps a reflection of an emotional callus built up over months of fighting against regulators, prosecutors, the FTX bankruptcy estate, and paparazzi.

A scene in the security line outside the courthouse one morning was typical. A photographer, standing outside tinted glass designed to conceal the faces within, held a portable light above his head as he stalked Bankman-Fried’s parents along a thirty-foot stretch. Over the course of ten minutes, he inched along the line with them, flashing his light hundreds of times to capture the perfect shot of two people at the lowest point in their lives.

Joseph Bankman and Barbara Fried arrive for the trial of their son, former FTX Chief Executive Sam Bankman-Fried, who is facing fraud charges over the collapse of the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 26, 2023. 

Brendan Mcdermid | Reuters

The defendant wore a purple tie with his black suit, which hung loose on his gaunt frame. His face, drawn, made his ears stand out a bit more than usual, and his iconic curls had returned. The fresh haircut he donned during the first week of trial, reportedly given to him by a fellow inmate, had lost its form and given way to the wild tendrils now synonymous with the man once regaled as the king of crypto.

Kaplan instructed Bankman-Fried to stand and face the jury box as the verdicts were read. The only other person standing was the forewoman.

By 7:47 p.m., Bankman-Fried’s fate had been delivered. Bankman-Fried’s parents hunched over and buried their head in their hands, but true to form, they stopped short of crying.

Immediately after the guilty verdicts, the defense’s principal trial attorney, Mark Cohen, asked for a poll of the jurors. A courtroom official went juror by juror, asking each if their verdict was read properly. Each said yes.

Judge Kaplan thanked the jurors for their service, adding a flourish of personal anecdotes to his final address to the jury. The twelve civilians stared blankly as the judge thanked them for paying attention and for learning the inner workings of the crypto industry.

The jurors were escorted out. Judge Kaplan congratulated attorneys on both sides on having done a “good job,” then departed himself.

Bankman-Fried, his parents, and a few dozen reporters lingered behind in the courtroom.

Bankman-Fried had never sat back down after the judge left. His gaze, angled downward, remained facing the judge’s bench. He stood flanked by attorney Christian Everdell on his left and Cohen on his right. Cohen, whispering into his ear, occasionally placed his left hand on Sam’s back as a sign of support.

It was silent in 26b. Writers stood and gathered toward the center aisle leading to the bar separating the defendant’s table and jury box from the gallery. Standing at the back of the crowd, people gathered as if behind a prophet, waiting for a word.

Around 8:02 p.m., Bankman-Fried, speechless, began to walk to a room just adjacent to the main court. His parents were standing at the front of the center aisle, waiting for their son.

What's next after Sam Bankman-Fried's conviction in fraud trial: CNBC Crypto World

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Survey Sunday: we asked WHY you chose home solar, you answered

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Survey Sunday: we asked WHY you chose home solar, you answered

For the last few weeks, we’ve been running a sidebar survey about some of the factors that are convincing Electrek readers to add home solar power systems to their homes. After receiving over a thousand responses, here’s what you told us.

Our last survey focused on the loss of the 30% federal home solar tax credit that’s set to expire at the end of this year. One of the commenters expressed frustration with the question, saying that – tax credit or no – there were still plenty of other good reasons to go solar.

When our readers share their great ideas with us, we listen, and our most recent survey asked, “The federal solar tax credit ends after December 31st, but there are still plenty of reasons to go solar. What’s YOUR reason?”

Why YOU choose solar


By the numbers; original content.

Perhaps the most surprising result of this survey is that, with just 32.6% of the votes, “Lowering my monthly utility bills” wasn’t the biggest overall reason for people choosing to go solar. That result proving, if nothing else, that Electrek readers might be willing to spend a little more to do something positive for their environment and their community.

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“Energy independence and less reliance on the grid” was the top reason readers would add a solar system to their homes, with over 25% reporting that they were convinced about the value of solar because, “It’s the right thing to do, climate-wise.”

The final surprising result was that just 2.33% of respondents – just 25 Electrek readers – said that the improved resale value of home solar was your primary decision-driver.

Surprising, perhaps, not because of the solar panels themselves, but because it really is a buyers’ market these days, especially in sun-rich markets like Texas and Florida, which have flipped the script in recent months, posting huge inventory numbers and plunging real estate prices throughout the 2025 hurricane season.

“With a rate of 6.5% for a $1 million loan, the [monthly] payment is now significantly more than it was two years ago—$6,300 versus $4,200,” according to Ron Shuffield, the Miami-based president and CEO of Berkshire Hathaway HomeServices EWM Realty. “When we have this conversation with our sellers, they say, ‘Well, why can’t I get what my neighbor got two or three years ago?’ And then we say, ‘Well, because your buyer does not have the same amount of money.’”

In that context, I’d expect sellers would at least try to differentiate their properties with features like home solar and battery energy storage. But, then again, what do I know? You guys know stuff – let us know what you make of this little look into the minds of your fellow readers and what conclusions you’d draw in the comments.

Original content from Electrek.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. 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.

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As Anthropic tries to keep pace with OpenAI, it’s also taking on the U.S. government

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As Anthropic tries to keep pace with OpenAI, it's also taking on the U.S. government

Dario Amodei, co-founder and chief executive officer of Anthropic, at the World Economic Forum in 2025.

Stefan Wermuth | Bloomberg | Getty Images

Artificial intelligence startup Anthropic is doing all it can to keep pace with larger rival OpenAI, which is spending money at a historic pace with backing from Microsoft and Nvidia. Of late, Anthropic has been facing an equally daunting antagonist: the U.S. government.

David Sacks, the venture capitalist serving as President Donald Trump’s AI and crypto czar, has been publicly criticizing Anthropic for what he’s called a campaign by the company to support “the Left’s vision of AI regulation.”

After Anthropic co-founder Jack Clark, AI startup’s head of policy, wrote an essay this week titled “Technological Optimism and Appropriate Fear,” Sacks lashed out against the company on X.

“Anthropic is running a sophisticated regulatory capture strategy based on fear-mongering,” Sacks wrote on Tuesday.

OpenAI, meanwhile, has established itself as a partner to the White House since the very beginning of the second Trump administration. On Jan. 21, the day after the inauguration, Trump announced a joint venture called Stargate with OpenAIOracle and Softbank to invest billions of dollars in U.S. AI infrastructure.

Sacks’ criticism of Anthropic hits on the company’s very foundation and its original reason for being. Siblings Dario and Daniela Amodei left OpenAI in late 2020 and started Anthropic with a mission to build safer AI. OpenAI had started as a nonprofit lab in 2015, but was rapidly moving towards commercialization, with hefty funding from Microsoft.

Now they’re the two most highly valued private AI companies in the country, with OpenAI commanding a $500 billion valuation and Anthropic capturing a valuation of $183 billion. OpenAI leads the consumer AI market with its ChatGPT and Sora apps, while Anthropic’s Claude models are particularly popular in the enterprise.

When it comes to regulation, the companies have very different views. OpenAI has lobbied for fewer guardrails, while Anthropic has opposed part of the Trump administration’s effort to limit protections.

Anthropic has repeatedly pushed back against efforts by the federal government to preempt state-level regulation of AI, most notably a Trump-backed provision that would have blocked such rules for 10 years.

That proposal, part of the draft “Big Beautiful Bill,” was ultimately abandoned. Anthropic later endorsed California’s SB 53, which would require transparency and safety disclosures from AI companies, effectively going in the opposite direction from the administration’s approach.

“SB 53’s transparency requirements will have an important impact on frontier AI safety,” Anthropic wrote in a blog post on Sept. 8. “Without it, labs with increasingly powerful models could face growing incentives to dial back their own safety and disclosure programs in order to compete.” 

Anthropic didn’t provide a comment for this story. Sacks didn’t respond to a request for comment.

U.S. President Donald Trump sits next to Crypto czar David Sacks at the White House Crypto Summit at the White House in Washington, D.C., U.S., March 7, 2025.

Evelyn Hockstein | Reuters

For Sacks, the priority in AI is to innovate as fast as possible to make sure the U.S. doesn’t lose to China.

“The U.S. is currently in an AI race, and our chief global competition is China,” Sacks said in an onstage interview at Salesforce’s Dreamforce conference in San Francisco this week. “They’re the only other country that has the talent, the resources, and the technology expertise to basically beat us in AI.”

But Sacks has adamantly denied that he’s trying to take down Anthropic in the process of lifting up U.S. AI.

In a post on X on Thursday, Sacks contested a Bloomberg story that linked his comments to growing federal scrutiny of Anthropic.

“Nothing could be further from the truth,” he wrote. “Just a couple of months ago, the White House approved Anthropic’s Claude app to be offered to all branches of government through the GSA App Store.”

Rather, Sacks claimed that Anthropic has cast itself as a political underdog, positioning its leadership as principled defenders of public safety while pursuing a public campaign that frames any pushback as partisan targeting.

“It has been Anthropic’s government affairs and media strategy to position itself consistently as a foe of the Trump administration,” Sacks said. “But don’t whine to the media that you’re being ‘targeted’ when all we’ve done is articulate a policy disagreement.”

Sacks pointed to several examples of what he sees as adversarial actions. He referenced Dario Amodei’s comparison of Trump to a “feudal warlord” during the 2024 election. Amodei publicly supported Kamala Harris’ campaign for president.

Sacks also referenced op-eds the company ran opposing key parts of the Trump administration’s AI policy agenda, including its proposed moratorium on state-level regulation and elements of its Middle East and chip export strategy. Anthropic also hired senior Biden-era officials to lead its government relations team, Sacks noted.

The AI czar took particular umbrage to Clark’s essay and his warnings about the potentially transformative and destabilizing power of AI.

“My own experience is that as these AI systems get smarter and smarter, they develop more and more complicated goals. When these goals aren’t absolutely aligned with both our preferences and the right context, the AI systems will behave strangely,” Clark wrote. “Another reason for my fear is I can see a path to these systems starting to design their successors, albeit in a very early form.”

Sacks said such “fear-mongering” is holding back innovation.

“It is principally responsible for the state regulatory frenzy that is damaging the startup ecosystem,” Sacks wrote on X.

White House AI czar David Sacks: AI race is even more important than the space race

Anthropic has also stayed away from actions that many other tech companies have taken explicitly to appease Trump.

Leaders from Meta, OpenAI, and Nvidia have courted Trump and his allies, attending White House dinners, committing tens of billions of dollars to U.S. infrastructure projects, and softening their public postures. Amodei wasn’t invited to a recent White House dinner involving numerous industry leaders, the company confirmed to The Information.

Still, Anthropic continues to hold major federal contracts, including a $200 million deal with the Department of Defense and access to federal agencies through the General Services Administration. It also recently formed a national security advisory council to align its work with U.S. interests, and began offering a version of its Claude model to government customers for $1 per year.

But Sacks isn’t the only influential Republican tech investor voicing his critique of the company.

Keith Rabois, whose husband works in the Trump administration, waded into the mix this week.

“If Anthropic actually believed their rhetoric about safety, they can always shut down the company,” Rabois wrote on X. “And lobby then.”

 WATCH: Anthropic’s Mike Krieger on new model release

Anthropic’s Mike Krieger on new model release and the race to build real-world AI agents

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Big MAN arrives: Italian logistics firm rolls out first MAN eTGX 6×2-4 rigid truck

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Big MAN arrives: Italian logistics firm rolls out first MAN eTGX 6x2-4 rigid truck

Italian logistics specialist Fratelli Foppiani Trasporti has become one of the first operators to deploy the new MAN eTGX electric trucks, taking delivery of a 4×2 semi tractor and a new, 6×2-4 rigid truck packing absolutely MASSIVE battery packs that are ready to get to work.

The Italian shipping firm ordered its MAN units back in 2023, making these among the first regular-production electric trucks from the German truck brand to be delivered to customers. The trucks seem to have been worth the wait, too – the 6×2-4 rigid unit packs a whopping 445 kWh modular battery pack while the 4×2 semi arrived with a massive 534 kWh pack, along with MAN SafeStop Assist, MAN OptiView digital mirrors, GM cab, regenerative braking system, TipMatic 4 semiauto transmission, and MAN Digital Services packages.

Those batteries will give the eTGX trucks more than enough range to handle Fratelli Foppiani’s existing 4×2 routes, which go primarily from Corsico (Milan), with routes including Rozzano, Voghera and Brescia. The rigid truck will operate from Busto Arsizio (Varese), serving areas across Milan and Bergamo, Italy.

“This delivery represents a fundamental step forward for sustainable transport in Italy,” said Marc Martinez, Managing Director MAN Truck & Bus Italia. “We are proud to have achieved it together with a long-standing partner such as Fratelli Foppiani, which has once again demonstrated vision and courage.”

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The trucks were delivered during a ceremony at the company’s Corsico headquarters this month, coinciding with the company’s 65th anniversary.

Electrek’s Take


Not shy about the EV part; via MAN.

MAN Trucks’ fleet advisors believe that, in most cases, an electric semi will pay for itself in about three years, thanks in part to Europe’s much higher diesel fuel prices compared to the US (about $6.80/gal compared to $3.70 here, last time I checked).

Doing that complicated fleet assessment math for me, while giving me one of the best headlines in the industry, is just one more reason I love these guys.

SOURCE | IMAGES: MAN Truck & Bus Italia.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. 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.

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