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Caroline Ellison, former chief executive officer of Alameda Research LLC, arrives to court in New York, US, on Thursday, Oct. 12, 2023.

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Lawyers for Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, are recommending no prison time for their client’s role in the implosion of the crypto empire that was run by her former boss and ex-boyfriend.

In a court filing Tuesday night, the attorneys said that, at most, Ellison should be sentenced to time served and supervised release because of her swift return to the U.S. from FTX’s Bahamas headquarters in 2022 and her choice to voluntarily cooperate with the U.S. Attorney’s Office and financial regulators in helping them understand what went wrong at FTX and sister hedge fund Alameda Research.

Judge Lewis Kaplan, who presided over Bankman-Fried’s case, cited Ellison’s testimony when he decided in March to sentence the FTX founder to 25 years behind bars.

Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy. Unlike Bankman-Fried, who was convicted of all seven criminal fraud charges against him, Ellison pleaded guilty to conspiracy and financial fraud charges, rather than go to trial.

The Tuesday filing also refers to the Probation Department’s recommendation that Ellison be given a sentence of “time served with three years of supervised release” as a credit to her “extraordinary cooperation with the government” and “her otherwise unblemished record.” Lawyers added that the department’s pre-sentence report, which referenced numerous character testimonials speaking to Ellison’s ethics and integrity, also recommended that she not be fined.

“Caroline poses no risk of recidivism and presents no threat to public safety,” the filing says. “It would therefore promote respect for the law to grant leniency in recognition of Caroline’s early disclosure of the crimes, her unmitigated acceptance of responsibility for them, and — most importantly — her extensive cooperation with the government.”

Sam Bankman-Fried faces up to 50 years in prison at sentencing hearing

In the filing, FTX CEO John Ray, who has been guiding the crypto firm through bankruptcy proceedings, describes Ellison’s cooperation as “valuable” in helping his team protect and preserve “hundreds of millions of dollars” in assets. He added that she has worked with his advisors to provide information regarding private keys to cryptocurrency wallets that contain “estate assets, DeFi positions, FTX exchange internal account information, the use of third-party exchanges for pre-petition trading, and pre-petition auditing practices.”

The 67-page document describe large swaths of Ellison’s life, starting from her earliest days in Boston and stretching into her protracted and troubled romance with Bankman-Fried. In that time, she “moved around the globe at his direction, first to Hong Kong and later the Bahamas,” and “worked long, stressful, Adderall-fueled hours,” the filing says.

Bankman-Fried forced Ellison into a sort-of isolation, culminating in her moral compass being “warped,” the lawyers say. At his direction, Ellison helped “steal billions,” all while living “in dread, knowing that a disastrous collapse was likely, but fearing that disentangling herself would only hasten that collapse.”

“Bankman-Fried convinced her to stay, telling her she was essential to the survival of the business, and that he loved her,” all “while also perversely demonstrating that he considered her not good enough to be seen in public with him at high-profile events,” the filing says.

An attorney for Bankman-Fried didn’t immediately respond to a request for comment.

The document makes a point of noting that she has “drawn comfort from a new partner,” whose name is omitted from the document, but whom her friends recognize as “supportive and a positive, grounding influence.” She’s also written a novel, that’s “unrelated to the facts of this case.”

Ellison, who turns 30 in November, has a sentencing hearing on Sept. 24, in the same courthouse where she took the stand for several days in Bankman-Fried’s trial. Her former roommates and ex-FTX executives, Nishad Singh and Gary Wang, will be sentenced in October and November, respectively.

CNBC’s Dan Mangan contributed to this report.

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Sam Bankman-Fried's family on sentencing: We are heartbroken and will continue to fight for our son

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The new Aventon Pace 4 is getting closer to a theft-proof electric bike

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The new Aventon Pace 4 is getting closer to a theft-proof electric bike

Aventon has officially announced its latest electric bicycle, the Pace 4, adding advanced smart bike technology and enhanced rider comfort to its popular line of urban-friendly e-bikes. The Pace 4 builds upon Aventon’s successful formula of accessibility and ease of use, now augmented with new connectivity and security features that make it harder to steal and easier to get back.

At the heart of the Pace 4 is Aventon’s latest innovation: the Aventon Control Unit (ACU). The ACU significantly upgrades the bike’s intelligence and security capabilities, bringing GPS tracking, geofencing, and remote locking to the Pace 4.

With the addition of the ACU, riders gain the ability to monitor their bike’s location in real-time, set virtual boundaries that trigger alerts if the bike leaves a specified area, and remotely lock the rear wheel, helping to improve security and peace of mind. A startup passcode can also be enabled to further improve theft deterrence, ensuring the bike can only be activated by authorized users.

The remote locking and passcode can help deter some theft, but the GPS tracking makes it easier to get the bike back if it ever does find itself in the wrong hands. The GPS feature and the 4G data communication both require a 4G data subscription, which is provided complimentary for one year at the time of purchase.

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Of course, there’s no such thing as a theft-proof bicycle, but these types of smart features help riders get closer to that goal. Plus, as bike thieves become more aware of which e-bikes include built-in GPS or other theft deterrence features, hopefully those models will become less attractive targets.

The Pace 4 doesn’t only upgrade its intelligence. Its performance and comfort have also received their own improvements.

Powered by a 500W rear hub motor rated for a peak output of 864 watts and 60 Nm of torque, the Pace 4 provides decent power for smooth urban commuting and enjoyable leisure rides. According to Aventon, riders can expect consistent and reliable performance across various terrains and riding conditions.

It may not match the 750W continuous-rated motors we often see in the North American market, which usually output peak power in the low four figures of watts, but it should still provide good power and climbing performance on moderate hills.

The Pace 4 features a 36V 20Ah battery, which Aventon states can deliver a range of up to 70 miles (112 km) when ridden in ECO mode. Of course, few people actually ride solely in the lowest power mode, and so the real-world range is likely to be somewhat lower – especially for riders who make ample use of the throttle. But with just over 720 Wh of battery capacity, the Pace 4 is likely still ideal for extended city commutes, recreational rides, and weekend exploring. And with the included torque sensor, the pedal assist is more responsive, giving riders more reason to let go of the throttle and enjoy the pedal assist performance.

The 27.5×2.1″ urban tires will be most at home on pavement but can likely still handle fairly smooth trails. Whether for daily commuting or leisurely outings, the bike seems outfitted for a variety of use cases.

The Pace 4 lacks traditional suspension but the bike does include a suspension seat post offering 2 inches (50mm) of travel. This feature absorbs shocks and vibrations from rough roads, preventing them from traveling up through the saddle and into the rider’s rear, enhancing the riding experience. Complementing this is an ergonomic handlebar design aimed at promoting a relaxed, upright riding posture, reducing rider fatigue on longer trips and increasing overall comfort.

Neither of these can replace true front or rear suspension, but they go a decent way toward adding more comfort to the ride.

Aventon has also emphasized accessibility with the Pace 4. It features a step-through frame design that makes getting on and off the bike much easier than swinging a leg over the rear, helping the bike cater to riders of all ages and abilities. Available in two frame sizes and three colors of Flint, Mica, and Blue Steel (grey, black, and light blue), the Pace 4 also offers a bit of variation to help riders dial in the size and style closer to their tastes.

Priced at $1,799, the Pace 4 is entering the market at a time when new tariffs are hammering e-bike prices. The model is now available for purchase through Aventon’s official website and Aveneton’s wide network of authorized dealers.

Electrek’s Take

The new Aventon Pace 4 sticks with the company’s recent drive to push the boundaries of e-bike technology, combining smart connectivity, enhanced security features, modest performance, and some nods toward comfort. I’d imagine the bike would appeal to a broad range of riders if it wasn’t for the price, which feels fairly high to me. Plus, the base model doesn’t include a rack, fenders, or other commuter staples that will only elevate the price further. That being said, the Pace 4 launches at a time when e-bike prices are expected to arrive across the board, either slightly for models built in various Asian countries or significantly for models built in China.

But ignoring the price (as hard as that may be), I do like what I see here. It’s hard to compare to Class 3 e-bikes with more powerful 48V systems, but this isn’t designed to compete with those models. It’s a more modest, easier-going model. But for its intended audience, it comes with some nice features that we don’t often see elsewhere.

I really hope features like built-in tracking become more common across the board, as they’re hugely valuable for riders.

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400 kW DC fast charging On The Run arrives in Canada – and it’s FREE!

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400 kW DC fast charging On The Run arrives in Canada – and it's FREE!

British Columbia got its first 400 kW DC fast charger last week at Canadian C-store chain On The Run, but that’s not the good part. As part of a limited time offer, these chargers are FREE!

The Canadian convenience store chain just took the wraps off its new, ABB-developed, 400 kW chargers earlier this month, but they’re already planning to bring the ultra-fast 400 kW dispensers to at least four more locations in BC this spring, and have them online just in time for the summer road trip season – something On The Run hopes its customers will appreciate.

“The A400 charger delivers an enhanced customer experience, with reliability and performance from a 32-inch screen to higher power charging sessions and power sharing,” reads the company’s official announcement, via LinkedIn. “Download the Journie Rewards app to start the charge – free for a limited time.”

On The Run’s new 400 kW ABB DC fast chargers are compatible with CCS and CHAdeMO plugs, and can accommodate Tesla and other NACS-equipped vehicles with an adapter. That said, the company seems to imply that Tesla drivers in particular will have a maximum charging speed of “just” 50 kW, which feel hilarious (given the current state of affairs between Tesla and the Canadian government), but probably isn’t.

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In addition to the ABB A400 400 kW units shown here, On The Run locations also employ the ABB Terra 184 dispensers rated at 180 kW. On The Run plans similar deployments at the four BC locations mentioned above, as well as two more each in Quebec and Ontario slated to go live towards the end of this year.

Electrek’s Take

Tesla’s controversial CEO Elon Musk once mocked 350 kW charging speed as being “for a child’s toy,” despite the fact that, nearly nine years later, his own cars and Superchargers can barely make it to 325 kW while others have sailed right on past. I made fun of that fact on the Quick Charge episode shown, above – and, while I do think it’s funny and relevant, the much more relevant piece of news here is that companies like BP Pulse, Revel, and Wallbox are actively deploying 400 kW solutions, today (while others hit the same mark as far back as 2017).

It’s just a fact: Tesla has fallen way behind.

SOURCE | IMAGES: On The Run, via Electric Autonomy.

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Terawatt opens its first electric charging truck stop in California

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Terawatt opens its first electric charging truck stop in California

Terawatt Infrastructure‘s first medium- and heavy-duty electric charging truck stop in California is now online, in Rancho Dominguez.

Located 12 miles north of the ports of Long Beach and Los Angeles, the private Rancho Dominguez site, which is shared among multiple fleets, will support electric trucking fleet operations in and out of the largest container ports in the US.

First customers include Dreaded Trucking, Hight Logistics, PepsiCo, Quick Container Drayage, Southern Counties Express, Tradelink Transport, and WestCoast Trucking & Warehousing.

Terawatt’s electric charging truck stop features 20 pull-through and bobtail DC fast charging stalls with a capacity of 7 megawatts (MW), enabling charging for up to 125 trucks per day using a simple reservations system. Terawatt’s site features a proprietary charge management system, in-house technicians, 24/7 customer service, and onsite parts management.

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“This launch underscores growing collaboration between enterprises, shippers, carriers, and charging infrastructure providers to advance sustainable technologies across logistics and transportation operations, especially in the medium and heavy-duty sectors,” said Neha Palmer, CEO and cofounder of Terawatt. Palmer added that the company will bring another charging site online in Rialto, California, in June.

Terawatt joined some of the world’s largest shippers and carriers in September 2024 to launch the I-10 Consortium heavy-duty EV operations pilot, the “first-ever US over-the-road electrified corridor.” Terawatt is providing charging infrastructure, including software, operations, and maintenance support at six of its owned charging hubs along the I-10 corridor.


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