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Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.

Getty Images | Reuters

After a brutal 18 months of bankruptcies, company failures and criminal trials, the crypto market is starting to claw back some of its former standing.

Bitcoin is up more than 150% this year. Meanwhile, Solana is nearly 10x higher in the last 12 months, and bitcoin miner Marathon Digital has also skyrocketed. Crypto-pegged stocks like Coinbase, MicroStrategy and the Grayscale Bitcoin Trust rose more than 300% in value year-to-date.

But even as prices swell, the sector’s reputation has struggled to regain ground after names virtually synonymous with bitcoin have both been found guilty of crimes directly related to their multibillion-dollar crypto empires.

For years, Binance’s Changpeng Zhao and FTX’s Sam Bankman-Fried preached the power of decentralized, digital currencies to the masses. Both were bitcoin billionaires who ran their own global cryptocurrency exchanges and spent much of their professional career selling the public on a new, tech-powered world order; one where an alternative financial system comprised of borderless virtual coins would liberate the oppressed by eliminating middlemen like banks and the over-reach of the government.

Yet they both, in the end, helped crypto critics and regulators make the case that some of them had been right all along; that the industry was rife with grifters and fraudsters intent on using new tech to carry out age-old crimes.

Even when the crypto market was at its hottest, as token prices hit all-time highs in Oct. 2021, some of the biggest names in business and politics shared their doubts.

JPMorgan Chase CEO Jamie Dimon said in 2021 at peak crypto valuations that bitcoin was “worthless,” and he doubled down on that sentiment earlier this year when he said that the digital currency was a “hyped-up fraud.” Microsoft co-founder Bill Gates said in 2018 that he would short bitcoin if he could, adding that cryptocurrencies are “kind of a pure ‘greater fool theory’ type of investment.” Legendary investor Warren Buffett said he wouldn’t buy all of the bitcoin in the world for $25, because “it doesn’t produce anything,” and Senator Elizabeth Warren (D-Mass.) has long been one of crypto’s greatest naysayers on Capitol Hill.

Rather than ushering in a new era of financial freedom, Zhao and Bankman-Fried were found guilty on a mix of charges including fraud and money laundering. Once the two biggest names in crypto, the sector’s greatest proponents now face jail time.

Bankman-Fried, 31, could be sentenced to life in prison after being convicted of seven criminal counts in early November, including charges related to stealing billions of dollars from FTX’s customers. Less than three weeks after Bankman-Fried’s conviction, Zhao pleaded guilty to criminal charges and stepped down as Binance’s CEO as part of a $4.3 billion settlement with the Department of Justice.

Their crimes varied, but ultimately, both crypto execs went from industry titans to convicted frauds in the span of 12 months, and it was, in part, the bitter feud between them that landed them there.

“They were both responsible for behavior that has kept a black eye on crypto and its association with criminal behavior,” said Renato Mariotti, a former prosecutor in the U.S. Justice Department’s Securities and Commodities Fraud Section.

The early days

Zhao and Bankman-Fried were friends at first, before they became one another’s chief rival.

CZ, as Zhao is also known, had been first to the space. After a stint as the chief technology officer of a centralized crypto exchange called OKCoin, he launched a spot exchange of his own in 2017 called Binance, which has since become the largest cryptocurrency trading platform in the world, by volume.

That same year, Bankman-Fried earned street cred in crypto circles for his bitcoin arbitrage trading strategy, dubbed the Kimchi swap.

While the price of bitcoin today is relatively standard across the world’s exchanges, six years ago, the price differential would sometimes vary by more than 50%. This kind of arbitrage-based strategy, though relatively straightforward, wasn’t the easiest thing to execute on crypto rails back then, since it involved setting up connections to each one of the trading platforms.

To scale the operation, Bankman-Fried launched his own quantitative crypto hedge fund, Alameda Research. But what really put him on the map, according to Bankman-Fried, was CZ himself.

Just after Bankman-Fried moved his business to Hong Kong at the end of 2018, he met CZ for the first time after contributing $150,000 to co-sponsor a Binance conference in Singapore. One of the perks of that donation was a slot onstage with the Binance chief.

According to author Michael Lewis, whose book profiling Bankman-Fried was published the day the former FTX CEO’s criminal trial began in October, Bankman-Fried said this appearance is what gave him “legitimacy in crypto.”

Binance founder Changpeng Zhao will be going to jail, says CFTC Chair Rostin Behnam

The pair, according to Lewis’s reporting, were nothing alike in business or in personal dealings.

“Sam was gunning to build an exchange for big institutional crypto traders; CZ was all about pitching to retail and the little guy,” Lewis wrote, adding, “Sam hated conflict and so was almost weirdly quick to forget grievances; CZ thrived on conflict and nurtured the emotions that led to it.”

The relationship between Zhao and Bankman-Fried began to sour a few months after they met.

In March 2019, CZ passed on paying Bankman-Fried $40 million to buy the futures crypto exchange that SBF had designed with his team, instead building a version of the same platform in-house. A month later, Bankman-Fried and a few others founded FTX.com, a first-of-its-kind futures trading exchange with a flashy new liquidation engine and features which catered to large-scale institutional clients. Binance was the first outside investor in FTX, funding a Series A round in 2019. As part of that arrangement, Binance took on a long-term position in FTX’s native token, FTT, which was created to give perks to customers.

FTX’s success begat a $2 billion venture fund that seeded other crypto firms. Bankman-Fried’s personal wealth grew to around $26 billion at its peak, and FTX reached a valuation of $32 billion before it all came crashing down.

As crypto prices ran up in 2021, Bankman-Fried’s reputation did the same. Suddenly, the wunderkind was praised by the press as the poster boy for crypto everywhere.

The FTX logo adorned everything from Formula One race cars to a Miami basketball arena. Bankman-Fried went on an endless press tour, bragged about having a balance sheet that could one day buy Goldman Sachs, and became a fixture in Washington, where he was one of the Democratic Party’s top donors, promising to sink $1 billion into U.S. political races before later backtracking. Bankman-Fried wielded some of that political influence to cast shade on Zhao and Binance’s dealing.

At the same time, CZ’s influence continued to grow, as did Binance’s market dominance. With assets of more than $65 billion on the platform, it processed billions of dollars in trading volume every year.

As the two grew to be formidable opponents, FTX opted to buy out Binance in 2021 with a combination of FTT and other coins, according to Zhao.

But much of Bankman-Fried’s empire was a mirage, while Zhao’s operation was laced with questionable business tactics under the hood. What ultimately exposed the grift at the two exchanges was the rivalry between the crypto bosses.

Bitcoin tops $41,000 as investor appetite for ETF grows

Battle of the titans rocks crypto

As crypto prices tanked in 2022 and a cascade of bankruptcies rocked confidence in the sector, Bankman-Fried boasted that he and his enterprise were immune. But in fact, the industry-wide wipeout hit his operation quite hard.

Alameda borrowed money to invest in failing digital asset firms in the spring and summer of 2022 to keep the industry afloat, then reportedly siphoned off FTX customers’ deposits to stave off margin calls and meet immediate debt obligations.

In Nov. 2022, a fight between Bankman-Fried and CZ on Twitter, now known as X, pulled the mask off the scheme.

Zhao dropped the hammer with a tweet saying that because of “recent revelations that have came [sic] to light, we have decided to liquidate any remaining FTT on our books.”

The threat led to a panic-led sell-off of the FTT token. As the price of the coin plummeted by over 75%, so too did confidence in the platform. FTX executives scrambled to contain the damage, but customers proceeded to pull billions of dollars off the exchange. Zhao, who swooped in and agreed to buy FTX in a fire sale, backed out of the deal after one day’s worth of due diligence, and the company spiraled into bankruptcy.

As outsiders got a look at FTX’s actual books for the first time, the fraud became clear: Bankman-Fried and other leaders at FTX had taken billions of dollars in customer money.

In fact, during the criminal trial of Bankman-Fried, both the prosecution and defense agreed that $10 billion in customer money that was sitting in FTX’s crypto exchange went missing, with some of it going toward payments for real estate, recalled loans, venture investments and political donations. They also agreed that Bankman-Fried was the one calling the shots.

The key question for jurors was one of intent: Did Bankman-Fried knowingly commit fraud in directing those payouts with FTX customer cash, or did he simply make some mistakes along the way? Jurors decided within a few hours of deliberation that he had knowingly committed fraud on a mass scale.

The government’s beef with Zhao and Binance was different.

Three criminal charges were brought against the exchange, including conducting an unlicensed money-transmitting business, violating the International Emergency Economic Powers Act, and conspiracy. Binance has agreed to forfeit $2.5 billion to the government, as well as to pay a fine of $1.8 billion, for crimes which included allowing illicit actors to make more than 100,000 transactions that supported activities such as terrorism and illegal narcotics.

U.S. Attorney General Merrick Garland said in a press conference on Nov. 21 that the fine is “one of the largest penalties we have ever obtained.”

“Using new technology to break the law does not make you a disruptor; it makes you a criminal,” Garland said.

The $4.3 billion settlement and plea arrangement with the U.S. government, including the Department of Justice, the Commodity Futures Trading Commission and the Treasury Department, resolves a multiyear investigation into the world’s largest cryptocurrency exchange. The Securities and Exchange Commission, however, was notably absent.

Zhao and others were also charged with violating the Bank Secrecy Act by failing to implement an effective anti-money-laundering program and for willfully violating U.S. economic sanctions “in a deliberate and calculated effort to profit from the U.S. market without implementing controls required by U.S. law,” according to the Justice Department. The DOJ is recommending that the court impose a $50 million fine on Zhao.

In the meantime, CZ has been released on a $175 million personal recognizance bond secured by $15 million in cash and has a sentencing hearing scheduled for Feb. 23. Bankman-Fried faces a sentencing hearing on March 28.

Indicted FTX founder Sam Bankman-Fried leaves the U.S. Courthouse in New York City, July 26, 2023.

Amr Alfiky | Reuters

Winning the war

Legal experts tell CNBC that one critical distinction in the case of Zhao versus Bankman-Fried is the success of their respective enterprises.

“One key difference between CZ and SBF that should not be underestimated is that CZ ran a company that remains highly profitable and solvent,” said Mariotti. He added, “Binance has a war chest that it could use to pay hefty fines and provide leverage that gave the DOJ and CFTC a reason to settle.”

Binance will continue to operate but with new ground rules, per the settlement. The company will be required to maintain and enhance its compliance program to ensure its business is in line with U.S. anti-money-laundering standards. The company is also required to appoint an independent compliance monitor.

FTX, on the other hand, remains in bankruptcy court in Delaware as it looks to claw back cash in an attempt to make the exchange’s former investors and customers whole.

“Several factors may play into the outcome of CZ and why his guilty plea may have him spending minimal, if not any, time in prison versus SBF’s likely lengthy, if not life, sentence behind bars,” Braden Perry, who was once a senior trial lawyer for the CFTC, FTX’s only official U.S. regulator, told CNBC.

Perry said that the connection with foreign crime, including money laundering and breaching international financial sanctions, was key to Binance’s undoing. There was, however, no pursuit of criminal fraud of its customers’ money — a key distinction from the case of Bankman-Fried.

Another thing in Zhao’s corner: his willingness to cooperate with the government.

Any time the Justice Department pursues a criminal prosecution or the SEC brings a civil enforcement action against a defendant, they will consider the cooperation of the defendant, according to Richard Levin, a partner at Nelson Mullins Riley & Scarborough, where he chairs the fintech and regulation practice.

While CZ faces considerably less time in prison, Mariotti points out that despite the Binance founder’s significant fortune, he will still take a financial hit from the U.S. government.

“In the end, neither CZ nor SBF won,” said Mariotti, adding, “Leaders within the crypto community have seen what can happen, and perhaps the fall of these crypto ‘titans’ will signal smoother times ahead. But the continued lack of regulatory clarity and regulation through enforcement has not helped those looking for guidance on crypto compliance.”

Even as the dust settles, some of the companies still standing have struggled to stay afloat after venture capital dollars sought safer shores in startups geared toward generative artificial intelligence.

But a turnaround in token prices and crypto-pegged stocks has begun to buoy investor sentiment.

Traders are also increasingly bullish that the SEC will begin approving applications for a new spot bitcoin ETF, launched by leaders in traditional finance, by the first quarter of 2024. This type of exchange-traded fund would allow investors to buy into digital currency directly, through the same mechanism they already used to buy stock and bond ETFs.

Top asset managers, including BlackRock, WisdomTree and Invesco have all filed applications. A note from Bernstein says that, if approved, this will be the “largest pipe ever built between traditional financial markets and crypto financial markets.”

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Toyota’s 1,850-acre EV battery plant is live, but the company says this is just the start

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November 17, 2025

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Toyota's 1,850-acre EV battery plant is live, but the company says this is just the start

Toyota-EV-battery-plant-bigger

Toyota’s $14 billion US battery plant is now up and running. The mega site spans 1,850 acres, or about 121 football fields, but Toyota is saying it will be even bigger.

Toyota’s new US battery plant is set for an expansion

The first batteries rolled off the production line at Toyota’s new battery plant in Liberty, North Carolina, last Wednesday, marking a “pivotal moment” in the automaker’s nearly 70-year history in the US.

Toyota’s new plant houses 14 battery production lines, which will be used to power battery electric vehicles (BEVs), hybrids (HEVs), and plug-in hybrids (PHEVs).

At full capacity, the battery plant can produce 30 GWh per year. The plant is phasing in batteries imported from Japan through a joint venture with LG Electronics, which will power the Camry HEV, Corolla Cross HEV, and RAV4 HEV. It also ships hybrid battery modules to its Kentucky assembly plant and to another plant in Alabama, which it co-owns with Mazda.

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Toyota’s battery plant is already massive, spanning about 121 football fields, but company executives are saying it will likely be even bigger than expected.

Toyota-EV-battery-plant-bigger
2026 Toyota RAV4 PHEV (Source: Toyota)

“Our plans are to go 70% electrified by 2030. So obviously that could fuel additional expansion here at the plant,” David Christ, head of the Toyota brand in North America, said during a media briefing on Wednesday (via Triad Business Journal) following a tour of the facility.

Building on its commitment, Toyota announced an additional $10 billion investment over the next five years in electrified mobility.

Toyota-first-EV-battery-plant-US
Toyota US battery plant (Source: Toyota)

Toyota didn’t say exactly how it plans to invest the $10 billion, but the new battery plant is likely to see some of it. The battery modules that Toyota produces at the plant vary from hybrid to EV, but the cells are the same, enabling it to adjust based on demand.

It can also adapt to different battery types, which could possibly include solid-state batteries, according to Toyota’s plant president, Don Stewart.

Toyota-new-EV-SUV
2026 Toyota C-HR electric SUV (Source: Toyota)

Toyota, which has been one of the biggest laggards in the shift to all-electric vehicles, will continue pushing hybrids as it aims to overcome the new US tariffs.

The plant can supply batteries for around 600,000 hybrid vehicles a year while Toyota builds capacity for another 74,000 PHEVs and 45,000 EVs, including its first three-row electric SUV.

Starting next year, Toyota’s best-selling vehicle, the RAV4, will be sold exclusively as a hybrid. Toyota is also launching several new BEVs, including the C-HR and BZ Woodlands electric SUVs, as well as the 2026 electric Lexus ES.

Electrek’s Take

It’s not a surprise to see Toyota standing by hybrids at this point. What will be interesting is to see how Toyota’s new electric vehicles sell.

After solving many of the issues with its first EV, the bZ4X, will Toyota’s upcoming models sell? Several EVs, like the Hyundai IONIQ 5 and Chevy Equinox EV, have proven that an affordable electric car with enough range and features will sell.

With longer driving ranges, faster charging, and an improved interior and exterior design, Toyota’s upcoming electric vehicles are already a significant upgrade over the outgoing bZ4X. If Toyota sees EV sales improve, we could see production plans at the facility shift once again.


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Bluetti launches Elite 400 ‘luggage’ power station starting from exclusive $1,409, Rad Power RadWagon 4 e-bike at $1,299 low, more

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November 17, 2025

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Bluetti launches Elite 400 'luggage' power station starting from exclusive ,409, Rad Power RadWagon 4 e-bike at ,299 low, more


We’re kicking off this week’s Green Deals with the launch of Bluetti’s Elite 400 Portable Power Station and bundles with exclusive savings, starting from $1,409. Right behind it, we have Rad Power’s RadWagon 4 Cargo e-bike dropping back to its $1,299 low for the first time since its 2020 launch, as well as EcoFlow’s latest early Black Friday flash sale that is offering the new DELTA 3 Max Plus Portable Power Station with a FREE TRAIL 200 DC Power Station at $1,099, among other offers (all ending tonight). We also have tools from Worx, Greenworks, and SKIL, and more waiting for you below. And don’t forget about the hangover deals from last week that are collected together at the bottom of the page, rounded up in our latest edition of Electrified Weekly.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Bluetti launches new Elite 400 ‘luggage’ power station with up to 53% exclusive savings starting from $1,409

Running alongside its ongoing early Black Friday Sale, which includes returning exclusive lows on the Pioneer Na(Sodium) power station and others, we’ve now secured exclusive savings on Bluetti’s next big release, the Elite 400 Portable Power Station starting solo at $1,409.06 shipped, after using the code 9TO5TOYS6OFF at checkout. This new modular power solution will cost $2,999 at full price after these savings go, with this being quite the combined 53% markdown that saves you $1,590 off that rate and sets an impressive bar for future discounts down the line. Head below to learn more and/or browse the lineup of exclusive bundle offers we’re seeing too.

The new Bluetti Elite 400 power station is similar to Anker’s SOLIX F3800 series, but lacks the expansive capabilities at this time. Still, it brings quite the punch at its starting 3,840Wh LiFePO4 capacity, with nine output ports to connect devices and appliances for up to 3,900W of steady power delivery, surging as high as 5,200W. And it’s nice to see it come in a convenient, wheeled-and-handled design “that fits like luggage,” making it more manageable when taking it camping, on roadtrips, and more.

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Like most of the Elite 400 power station’s counterparts and competitors these days, you’ll get a full array of in-app smart controls, as well as four primary means to top off the station’s battery after depletion. Using an AC outlet alone will have you back to 80% in about 1.9 hours, or you can wait 2.5 hours to reach full. There’s a max 1,000W solar input to top things off in up to six hours, while connecting that much solar input and using an AC outlet simultaneously can recharge to 80% in 70 minutes, and full in up to 1.8 hours. Picking up the bundle with the alternator charger gives you on-the-go juice-ups in 7.5 hours from empty.

***Note: Make sure to use the exclusive code 9TO5TOYS6OFF at checkout to score these prices below!

Bluetti Elite 400 launch deals:

As I mentioned, Bluetti has some really good early Black Friday deals right now, especially consider that the initial discounts of up to 55% are getting up to an additional 10% with our exclusive codes – all starting from $209. You’ll find deals like the brand’s other recent launch, the Pioneer Na(Sodium) power station back at its launch pricing starting from a $735 low with exclusive 8% savings.

mother driving kids on Rad Power RadWagon 4 Cargo e-bike

Rad Power drops RadWagon 4 cargo e-bike to $1,299 Black Friday low for first time since launching (Save $500)

As part of its ongoing Black Friday Sale, Rad Power Bikes has given us the largest price cut on its RadWagon 4 Cargo e-bike that we haven’t seen since it launched back in 2020. You can now hop on this cargo-hauling commuter at $1,299 shipped for as long as supplies last. Normally priced at $1,799, we’ve mostly been seeing it get minor $100 or $200 discounts over 2025, or else just getting bundled gear at full price. The deal here gives you a $500 markdown that only matches its original pre-sale launch pricing from 2020, returning it to the all-time lowest rate we have ever tracked.

If you want to learn more about this cargo-hauling e-bike, be sure to check out our original coverage of this deal here.

family making dinner in kitchen powered by EcoFlow DELTA 3 Max Plus power station

EcoFlow offers new DELTA 3 Max Plus power station with a FREE TRAIL 200 DC unit at $1,099 in flash sale, more (ends tonight)

As part of its ongoing early Black Friday Sale, EcoFlow has another short-term flash sale that is ending tonight at midnight PST, providing up to 62% discounts on four offers for that timeframe, including the new DELTA 3 Max Plus power station that comes with a FREE Trail 200 DC 60,000mAh power station at $1,099 shipped, which sadly can’t use any of the extra savings codes from the overall sale. While it carries an $1,899 MSRP since releasing in September, it launched and has been regularly dropped down to $1,099 in the time since when apart of sales, which is where Amazon currently has it priced, though you won’t be getting the FREE Trail 200 DC station with it (valued at $200). We’ve only seen this rate beaten by its $1,044 launch deal (with a bonus savings code), so you’re looking at the next-best price here, especially bundled with the extra power station, giving you a total $1,000 in savings.

If you want to learn more about this all-new power station, or the other offers, be sure to check out our original coverage of this flash sale here before it ends tonight at midnight PST.

man using Worx mini chainsaw to cut branch off tree trunk

Make up to 100 cuts on one charge with Worx’s 20V 5-inch cordless mini chainsaw at $72.50 (Reg. up to $130)

Amazon is offering the Worx 20V 5-inch Mini Cordless Chainsaw at $72.50 shipped. While it carries a $160 MSRP direct from the brand, it has more often gone for $90 to $130 at Amazon this year, with other discounts over 2025 having mostly kept costs above $84, though there was a one-time fall to its $63 low in mid-September. Aside from that pricing, you’re looking at the next-best rate here today while this deal lasts, giving you $57.50 off the full price and allowing you to manage pruning and cutting in tighter spaces. You can also find its boosted 20V Nitro counterpart down at $109.99 shipped right now.

If you want to learn more about this handy compact tool, or its Nitro counterpart, be sure to check out our original coverage of these deals here.

man using Greenworks string trimmer to cut grass

Attachment-capable 40V Greenworks cordless string trimmer at best 2025 off-season price of $135 (Reg. $159, tool-only)

Amazon is offering the Greenworks 40V 16-Inch Attachment-Capable Cordless Gen 2 String Trimmer (tool only) at $135.30 shipped. It would normally cost you $180 at full price direct from the brand, though at Amazon, it’s been spending the time since May down at $159, with discounts only having gone as low as $146. Today’s deal gives you a $24 markdown off the going rate ($45 off the MSRP), landing it at the best price of the year and among its lowest rates overall – just $2 above the all-time low. Sadly, the battery-bundled package is keeping higher at $205.44 shipped right now.

If you want to learn more about this string trimmer, be sure to check out our original coverage of this deal here.

SKIL PWR CORE 40 14-inch chainsaw sitting on top of cut log next to trees

Tackle storm cleanup, firewood, and more with SKIL’s PWR CORE 40 14-inch cordless chainsaw kit at $142 (Reg. $199)

Amazon is offering the SKIL PWR CORE 40 14-inch 40V Lightweight Cordless Chainsaw at $142.40 shipped. Normally fetching $199 at full price, discounts over the year have almost entirely dropped costs to $149, though we did see it fall to its $139 low once during July’s Prime Day event. Today’s deal gives you a 28% markdown that cuts $57 off the going rate for the second-lowest price we have tracked – just $3 above the one-time low.

If you want to learn more about this chainsaw, be sure to check out our original coverage of this deal here.

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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Tesla settles another lawsuit over Autopilot crash, 4th since losing first trial

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6 hours ago

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November 17, 2025

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Tesla settles another lawsuit over Autopilot crash, 4th since losing first trial

Tesla Autopilot

Tesla has settled another lawsuit involving its Autopilot driver-assist system, which is alleged to have caused a crash. This time, a 2020 Model Y on Autopilot crashed into a stationary police vehicle in Texas.

This is Tesla’s fourth known settlement in lawsuits involving Autopilot crashes since losing its first trial earlier this year.

The case, James Tran vs. Tesla, Inc., was filed in Harris County, Texas, after an incident on November 15, 2020.

According to the lawsuit, James Tran was traveling on the I-10 freeway in his 2020 Model Y with the Autopilot feature engaged. Up ahead on the same road, three Harris County Constable (police) vehicles were blocking several lanes of traffic for a prior accident.

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Tran’s Model Y, while operating on Autopilot, collided with one of the stationary constables’ vehicles.

In his petition, Tran alleged that Tesla’s “Autopilot… system safety features failed to detect” the emergency vehicles or “function in any way to avoid or warn of the hazard”. His lawyers claimed the system had a “failure to warn” about its known “inability to detect emergency cars with flashing lights” and sought over $1 million in damages.

As it almost always does, Tesla’s defense centered on blaming the driver. In a March 2024 “No-Evidence” motion, Tesla’s lawyers alleged that Tran had been “gambling and drinking at a casino” before the 2:40 a.m. crash and “dozed off” behind the wheel.

From the beginning of the case, Tesla’s legal strategy was to argue that Tran was the “sole cause” of his injuries. By 2024, they argued he had “no evidence” and, crucially, “no experts” to prove Autopilot was at fault.

Tesla sought dismissal, but the judge allowed it to proceed, and the case was set for trial on November 11.

Despite this aggressive defense, Tesla didn’t let a jury decide the case.

Days before the trial was set to start, Tesla’s lawyers quietly filed a “Notice of Settlement” on November 6, 2025. The document simply states that “the parties in the above-captioned case have reached a settlement”. The terms, as usual, are not disclosed in the filing.

Shortly after Tran’s crash, Tesla was investigated by NHTSA regarding Autopilot-equipped vehicles crashing into emergency vehicles. The federal agency found 11 incidents that resulted in 17 injuries and one death.

NHTSA eventually concluded that Tesla’s driver monitoring system for Autopilot was “inadequate” and Tesla had to issue a recall.

However, NHTSA launched another investigation into the recall fix itself, and other similar crashes have occurred since, including one into a police car last month.

The floodgates are open

As we reported, the floodgates of lawsuits related to Tesla Autopilot/FSD crashes are open after Tesla lost its first case that went to trial earlier this year.

For the first time, a case went to trial before a jury, and they assigned a third of the blame for the crash to Tesla for the role Autopilot played. The rest of the blame was put on the driver, who had already settled with the victims and their families before the Tesla trial began.

The jury awarded the plaintiffs $243 million. The automaker has made clear its intentions to appeal the verdict.

Before the trial, the plaintiffs offered Tesla a $60 million settlement, but the company refused.

The trial was costly for Tesla, not only because of the more than $240 million award, but also because of the information that came out during the trial, which didn’t make Tesla look good.

There are dozens of other cases currently going through the court process, and now they can take advantage of what was learned through the trial.

To avoid further discovery, Tesla appears to be increasingly willing to settle these cases.

With the Tran case, it now marks at least Tesla’s fourth known settlement of lawsuits involving Autopilot/FSD crashes since losing the trial in August.

Electrek’s Take

As I have been highlighting over the last few months, this is just the beginning. We are just now starting to see cases that come from crashes that happened in 2018-2019-2020 go to trial.

It’s a long process, but we know that the number of crashes involving Autopilot and FSD significantly ramped up in 2021-2025 due to higher volumes and the launch of FSD.

All these accidents, many of them unfortunately fatal, are going to go through the legal process, and Tesla will have to settle for billions of dollars when everything is said and done.

Simply blaming the driver for abusing Tesla’s ADAS system is not working anymore. Tesla is consistently taking at least part of the blame for misleading drivers into believing its ADAS systems are more than they are or for their monitoring system’s lack.

In fact, there’s another similar lawsuit in the same county as the Tran lawsuit, which is about to go to trial unless Tesla settles it soon. It involves a drunk driver on Autopilot crashing into 5 police officers, injuring them in the process. The officers are suing Tesla with a similar approach to that of Tran in this case.


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