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Government exhibit in the case against former FTX CEO Sam Bankman-Fried.

Source: SDNY

As Sam Bankman-Fried prepares to face sentencing next month for his criminal fraud conviction tied to the epic collapse of FTX in 2022, former customers of the crypto exchange have reasons to believe they could actually recoup their money.

Bankman-Fried, who could spend the rest of his life behind bars, was found guilty in November on seven criminal counts after roughly $10 billion in customer funds from his company went missing. Some of that money went to pay for Bankman-Fried’s lavish lifestyle, but much of it went towards other investments that have, of late, appreciated dramatically in value.

Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay customers and creditors with legitimate claims. Bankruptcy attorney Andrew Dietderich, who works with FTX’s new leadership team, said “there is still a great amount of work and risk” ahead in getting all the money back to clients, but that the team has a “strategy to achieve it.”

It’s a welcome development for the many thousands of customers (reportedly up to a million) who collectively lost billions of dollars in FTX’s collapse 15 months ago, when the crypto exchange spiraled into bankruptcy in a matter of days. Given the lightly regulated and unsecured nature of FTX — and the crypto industry at large — those clients faced the real possibility that the vast majority of their money had evaporated. Plenty of failed hedge funds and lenders lost virtually everything during the 2022 crypto winter.

Bankman-Fried never believed his company’s situation was that dire.

Even as regulators and federal prosecutors unearthed evidence showing that the 31-year-old entrepreneur and his top lieutenants had been pilfering billions of dollars from customer wallets for years, Bankman-Fried insisted that all the money was still somehow accessible.

“FTX US remains fully solvent,” Bankman-Fried wrote in a Substack post on Jan. 12, 2023, while he was under house arrest at his parents’ home in Palo Alto, California. He said the exchange “should be able to return all customers’ funds.”

In some ways, his narrative appears to be proving true.

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

For months, FTX’s new CEO, John Ray III, and his team of restructuring advisors have been clawing back cash, luxury property, and crypto, as well as tracking down missing assets. They’ve already collected more than $7 billion, and that doesn’t include valuables like $26 million in gifts and property to Bankman-Fried’s parents, or the $700 million handed over to K5 Global and founder Michael Kives, who invested FTX cash in companies like SpaceX. Some of those investments have seen a precipitous rise in value.

FTX had been negotiating with bidders about a potential reboot of the company, but those efforts were scrapped last month.

Braden Perry, who was once a senior trial lawyer for the Commodity Futures Trading Commission, FTX’s only official U.S. regulator, told CNBC that the decision to repay users in full came after “the abandonment of efforts to restart the FTX crypto exchange,” in favor of “a focus on liquidating assets to make customers whol​e.”

Getting actual money back in the hands of customers still remains a challenge. While a lot of the value has been recouped and more is to come, divvying up large amounts of cash is a complex process in bankruptcies, particularly when so much of the money is in non-traditional and illiquid assets.

Even Ray was doubtful at the beginning of the process, noting in late 2022 that, “At the end of the day, we’re not going to be able to recover all the losses here.” 

‘Sam coins’ soar

What Ray wasn’t banking on was a huge market rebound. When he made those remarks, crypto was mired in a bear market, with bitcoin trading at around $16,000. It’s now above $47,000.

In September, the bankruptcy team released a status report showing that FTX had $3.4 billion worth of digital assets, with over $1.1 billion coming from its Solana investment.

Solana fits into a category of so-called “Sam coins,” a group that also includes Serum, a token created and promoted by FTX and sister hedge fund Alameda Research. After the dust settled from FTX’s bankruptcy, Solana saw a huge run-up in its price, and it continued to rally after the September report. Since the end of that month, it’s spiked fivefold.

Meanwhile, FTX’s bitcoin stash, which was worth $560 million at the time of the September report, is today valued north of $1 billion.

Bankman-Fried’s investments weren’t limited to crypto. He also used client money to back startups like Anthropic, the artificial intelligence company founded by ex-OpenAI employees. FTX invested $500 million in Anthropic in 2021, before the generative AI boom. Anthropic’s valuation hit $18 billion in December 2023, which would value FTX’s roughly 8% stake at about $1.4 billion.

During Bankman-Fried’s criminal trial in New York, Judge Lewis Kaplan denied the defense’s request that it be permitted to say that FTX’s investment in Anthropic was a smart bet. The bankruptcy estate of FTX has been looking to sell its Anthropic stake, according to a court filing this month.

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

Artist: Elizabeth Williams

In his biography on Bankman-Fried titled “Going Infinite,” Michael Lewis said he was told by an investor interested in bidding for the venture portfolio that “if it was sold intelligently, it should go for at least $2 billion.” Lewis, who published his book late last year, wrote that, based on his back-of-the-envelope math, the $7.3 billion that Ray’s team had come up with didn’t include Serum, some large clawbacks and other venture investments that had appreciated in value.

For FTX customers, being made whole, according to a judge’s ruling, means getting the cash equivalent of what their crypto was worth in November 2022. In other words, they’re not seeing any of the upside of FTX’s investments or being given virtual coins that would allow them to cash out at higher valuations.

Still, some investors have found a way to participate in the FTX’s ongoing odyssey. The market for FTX IOUs lit up last year as it became clear that the bankruptcy estate was cobbling together a lucrative portfolio. One financial firm that had lost around $100 million initially sold its FTX debt for 6 cents on the dollar in a new secondary market out of concern that he may never get a better deal. As of December, those claims were going for more than 70 cents on the dollar.

If customers are eventually made whole, that could play a big role in Bankman-Fried’s appeal, likely following his sentencing, which is set to take place in Brooklyn on March 28. Perry said it could also affect how the judge handles sentencing in the first place.

“Under the federal sentencing guidelines, and even assuming no monetary loss, SBF still faces at least 70 months in prison based on his base level offense, number of victims, sophisticated means, and leadership role,” Perry said.

The massive losses that were originally expected would suggest 30 to years to life, Perry added.

Renato Mariotti, a former prosecutor in the U.S. Justice Department’s Securities and Commodities Fraud Section, told CNBC that judges typically consider the amount of restitution paid to victims at sentencing.

“If the victim is made whole, that is a big plus for the defendant,” said Mariotti. He noted, however, that the extent of the fraud coupled with Bankman-Fried’s false testimony and violation of bond conditions could limit the reduction.

“I usually advise clients to pay restitution before sentencing if at all possible,” Mariotti said.

WATCH: Former SEC Chari discusses Bankman-Fried guilty verdict

Fmr. SEC Chair Jay Clayton: SBF trial is 'one of the largest campaign finance problems in history'

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Podcast: Tesla texting and driving, Trump kills mpg, Aptera update, and more

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December 5, 2025

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Podcast: Tesla texting and driving, Trump kills mpg, Aptera update, and more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla allowing texting and driving on FSD v14, Trump killing CAFE’s MPG standard, an Aptera update, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:


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Kia EV2 sheds camo, giving us our best look at the new SUV [Image]

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December 5, 2025

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Kia EV2 sheds camo, giving us our best look at the new SUV [Image]

Kia-EV2-spotted-camo

Kia’s most affordable electric SUV will be here in just over a month. Ahead of its debut, the EV2 was spotted with light camo, offering our best look yet.

Kia EV2 looks more like an SUV with less camo

Just days after Kia confirmed the EV2 will debut at the Brussels Motor Show on January 9, 2026, the small electric SUV was spotted in Europe with barely any camo.

The EV2 is a fully electric B-segment SUV set to be Kia’s new entry-level EV. It will sit below the EV3, which is already the UK’s most popular retail electric vehicle and among the top-sellers in Europe.

“With the EV2, we reaffirm our commitment to make electric mobility truly accessible to a broader audience,” Kia Europe president and CEO, Marc Hedrich, said earlier this month.

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Despite its compact size, the EV2 looks and feels much bigger in person. It has a similar high-riding, blocky design as Kia’s latest electric SUVs, such as the EV5 and three-row EV9.

Kia-EV2-teaser-affordable-EV
Kia EV2 teaser (Source: Kia)

In the teaser images Kia posted a few days ago, the EV2 was shown under a drape with a design that looked nearly identical to the EV2 Concept from earlier this year.

Now, we can finally confirm it. The Kia EV2 was recently spotted in Europe in light camo, rocking a tall, SUV-like stance. The latest image from KindelAuto gives us a solid look at its profile, which still resembles a mini EV5 or EV9.

Kia will begin EV2 production alongside the EV4 hatch at its Zilina, Slovakia, plant shortly after its debut at the Brussels Motor Show next month, ramping up output throughout 2026.

Although Kia has yet to reveal specifics, the EV2 is expected to be about 4,000 mm (157″) long, or slightly smaller than the EV3 at 4,300 mm (169.3″). It will be closer in size to the Hyundai Inster EV.

Kia-EV2-most-affordable-EV
The Kia Concept EV2 at IAA Mobility 2025 in Munich (Source: Kia)

Prices are expected to start at around €30,000 ($35,000) in Europe, given that the EV3 starts at about €36,000 ($42,000).

The compact electric SUV is expected to ride on Hyundai’s E-GMP platform, with similar battery pack options as the EV3. The EV3 is available with 58.3 kWh and 81.4 kWh battery options, delivering a WLTP range of 410 km (255 miles) and 560 km (348 miles), respectively.

The EV2 will debut at the Brussels Motor Show on January 9, 2026. Kia will hold a press conference at 10:40 am CET to introduce the new entry-level EV. Check back for updates leading up to the event.


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Segway Christmas Holiday Sale drops EV prices by hundreds to lows from $150, EcoFlow expansion battery flash sale, more

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December 5, 2025

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Segway Christmas Holiday Sale drops EV prices by hundreds to lows from 0, EcoFlow expansion battery flash sale, more


We’re ending this week’s Green Deals with a mix of new holiday events alongside ongoing Black Friday/Cyber Monday deals, headlined by Segway’s Christmas Holiday Sale that gives you hundreds in savings on popular EVs, like the ZT3 Pro All-Terrain Electric Scooter back at its $850 low, among many others. There’s also EcoFlow’s latest Cyber Week flash sale (ending tonight) that gives you up to 62% savings on an expanded DELTA 2 Max Power Station bundle and three battery bundles – at new lows starting from $329, as well as Ride1Up’s extended Cyber Monday Sale (lasting through the weekend) with up to $600 savings on an expanded lineup of e-bikes and extra batteries starting from $195, and much more waiting for you below. And don’t forget about the hangover deals from the holiday event and this week that are collected together in our Black Friday/Cyber Monday Green Deals hub, which we have updated over the week, like yesterday’s EcoFlow RAPID + 25W MagSafe Christmas promotional deals, the new low price on Anker’s SOLIX C300 DC 90,000mAh power station (ending tonight), and more.

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.

Cross Segway e-scooters and e-bikes off gift lists with hundreds of savings for Christmas Holiday Sale – models start from $150

It didn’t take much time at all for Segway to change lanes from its Black Friday event into the now live Christmas Holiday Sale that saves you hundreds on the brand’s EVs, including the returning pricing on the ZT3 Pro All-Terrain Electric Scooter at $849.99 shipped, which matches the pricing over at Amazon. While it may carry a $1,300 MSRP from Segway, you’ll more often find it down around $1,000 instead, especially at other marketplaces like Amazon, with this same low rate having previously appeared during July and October’s Prime Day events, as well as the most recent Black Friday sale. Now, you’re getting a longer period of getting it at this all-time low price, complete with $150 off the going rate (and $450 off the MSRP). Head below to learn more about it and the other models included in the Segway’s Christmas Holiday Sale.

Segway’s ZT3 Pro electric scooter is a solid all-terrain option that can certainly go the distance, as many riders are learning while riding around on them through the streets of NYC, with the full suspension and additional 6 inches of deck clearance from the ground serving urban riders well on more pothole-lined streets. What’s more, in a city so massive and populated, having the included Apple Find My and auto-proximity locking/unlocking functionality definitely adds peace of mind should you ever be leaving it unattended for a set amount of time.

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The whole system – which includes a 1,600W brushless motor as its heart – comes powered by a 597Wh battery, providing up to 43.5 miles of commuting assistance at speeds as high as 24.9 MPH. Another nice feature is the regaining of 6.2 miles for just 30 minutes of charging, allowing you to get moving faster to tackle last-minute plans. Along with everything already mentioned, there’s also 11-inch tubeless tires, a Segride stability enhancement system, a traction control system, six inches of extra clearance from the ground, and more.

Segway’s Christmas Holiday Sale gifts ‘made to wow’

Segway’s commuting Christmas Holiday Sale gifts under $750

  • E2 Plus II Electric Scooter: $280 (Reg. $350) | matched at Amazon
    • 15.5 MPH for up to 16 miles
  • DLX2 Pro Electric Scooter: $380 (Reg. $500)
    • 18.6 MPH for up to 24.9 miles
    • Traction Control System, Apple Find My, more
  • MAX G30LP Electric Scooter: $450 (Reg. $600) | buy used at Amazon
    • 18 MPH for up to 25 miles
  • MAX G30P Electric Scooter: $550 (Reg. $1,000) | not available at Amazon
    • 18 MPH for up to 40 miles
  • E3 Pro Electric Scooter: $600 (Reg. $700)
    • 20 MPH for up to 34 miles
    • Traction Control System, Apple Find My, app/passcode locking, more
  • Max G2 Electric Scooter: $700 (Reg. $1,000) | matched at Amazon
    • 22 MPH for up to 43 miles
    • Traction Control System, Apple Find My, more
  • F3 Electric Scooter: $750 (Reg. $1,000) | matched at Amazon
    • 20 MPH for up to 44 miles
    • Traction Control System, Apple Find My, auto proximity locking, more

Segway’s other Christmas Holiday gift deals

  • ZT3 Pro All-Terrain Electric Scooter: $850 (Reg. $1,000)
    • 25 MPH for up to 43.5 miles
    • Traction Control System, Apple Find My, auto-proximity locking, more
  • MAX G3 Electric Scooter: $1,100 (Reg. $1,300) | matched at Amazon
    • 28 MPH for up to 50 miles
    • Traction Control System, Apple Find My, auto proximity locking, more
  • GT3 SuperScooter: $1,500 (Reg. $1,900) | matches at Amazon
    • 31 MPH for up to 45 miles
    • Traction Control System, Apple Find My, auto proximity locking, more
  • Xafari Electric Bike: $1,800 (Reg. $2,400)
    • 20 MPH for up to 88 miles
    • Traction Control System, Apple Find My, auto proximity locking, and much more
  • Xyber Electric Bike: $2,900 (Reg. $3,300)
    • 35 MPH for up to 112 miles
    • Traction Control System, Apple Find My, auto proximity locking, and much more

And be sure to check out all the hangover November shopping holiday deals while they last through the weekend, which we’ve collected into our Black Friday/Cyber Monday Green Deals hub here.

man reading book while camping with EcoFlow DELTA 2 Max power station and expansion battery

EcoFlow Cyber Week flash sale cuts up to 63% off expanded DELTA 2 Max bundle + batteries at new lows from $329 (ends tonight)

As part of EcoFlow’s ongoing Cyber Week Sale, the first of this new extended event’s flash sales has officially launched with up to 63% savings on three expansion battery bundles and alongside the DELTA 2 Max Portable Power Station bundled with a smart extra (expansion) battery for $1,369 shipped. This flash deal lasting through tomorrow night (Friday, December 5) beats out its Amazon pricing by $130 and its direct Cyber Week pricing by $230 (which does offer a $99 waterproof bag for FREE). While this bundle carries a $3,298 MSRP direct from the brand, you’re more likely to find it down around $2,149 at full price elsewhere, with it having kept between $1,699 and $1,499 since late September, with all the sales. Discounts have previously gone as low as $1,424, but these flash savings are cutting a larger than ever $780 off the going rate (and $1,929 off the MSRP) and landing it at a new all-time low price.

If you want to learn more about this expanded bundle, or the three other flash offers, be sure to check out our original coverage of these deals before they end tonight at midnight.

man riding Ride1Up Revv1 DRT Off-Road e-bike through grass field

Extended Ride1Up Cyber Monday sale continues up to $600 savings on e-bikes and extra batteries from $195

Ride1Up has an ongoing Cyber Monday Sale with up to $600 savings on e-bikes and extra batteries, which doesn’t provide any end dates, but is likely following the trend we’ve seen from several other brands and continuing through the weekend. Among the bunch, one model that is getting more and more attention from riders is the Revv1 DRT Off-Road e-bike that is down at $2,295 shipped. Normally running at $2,595 without discounts, we mostly saw sales bring the cost down to $2,495 or $2,395 over 2025, with more recent events seeing returns to the $2,295 low. That low price circled back around the track for Black Friday and Cyber Monday, with it holding strong for an unknown time longer at the best price tracked, courtesy of the $300 markdown.

You can learn more about this specific e-bike in our hands-on review here, or within our original coverage of this extended sale here, which includes the full lineup of deals.

split image of Allpowers SOLAX P100 mini power station in suitcase and being hand carried
woman making compost with East Oak's compost tumbler
patio lined with Govee S14 Outdoor String Lights 2

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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