Business
5 highlights from Sam Bankman-Fried’s cross-examination on October 31, 2023 at 1:03 am Business News | The Hill
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12 months agoon
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Prosecutors on Monday grilled FTX founder Sam Bankman-Fried on the witness stand, taking aim at his credibility as his criminal fraud trial entered its fifth week in New York City.
Bankman-Fried, 31, faces several charges over allegations that he defrauded his customers and investors of billions of dollars in a scheme that prosecutors have called “one of the biggest financial frauds in American history.”
Following the collapse of FTX cryptocurrency exchange last year, Bankman-Fried was arrested in the Bahamas last December and is facing charges for wire fraud, conspiracy to commit wire fraud, securities fraud, money laundering and conspiracy to make unlawful political contributions and defraud the Federal Election Commission.
The trial kicked off on Oct. 2 in a Manhattan courthouse, with the jury hearing testimony from several members of his executive team, including his ex-girlfriend and former Alameda Research CEO Caroline Ellison.
Bankman-Fried took the stand starting last week, testifying in front of just the trial judge and lawyers on Thursday and the jury on Friday.
Prosecutors began cross-examining Bankman-Fried in front of the jury on Monday, bringing up his public statements before and after FTX filed for bankruptcy last year when it could not process the billions in withdrawals, according to The Associated Press.
Here are five highlights from Bankman-Fried’s third day on the witness stand:
Prosecution points to past statements made by Bankman-Fried
Bloomberg reported the jury on Monday was shown emails, interviews, past posts on X, formerly known as Twitter, along with press releases and congressional testimony where Bankman-Fried made false and misleading statements to investors about the company’s financial conditions and that his cryptocurrency firm Alameda Research, followed the same rules as other investors.
Prosecutors allege Bankman-Fried siphoned off customer funds to prop up Alameda Research, along with bankrolling tens of millions of dollars in campaign contributions.
Assistant U.S. Attorney Danielle Sassoon attempted to show the jury the differences between Bankman-Fried’s claims about FTX’s risk management and his involvement with Alameda prior to and after the exchange’s collapse, Bloomberg reported.
Bankman-Fried reportedly said he could not remember and was not sure about his statements of the past, according to Bloomberg.
Bankman-Fried, once valued at $32 billion, was a major political donor in the 2022 midterm elections, though prosecutors allege additional contributions with Alameda and FTX funds were made in the name of two other executives as a way to get support from candidates that would support favorable legislation.
Bankman-Fried pushes back against claims that he led both FTX and Alameda
Bankman-Fried pushed back against prosecutors, who attempted to show the jury that he was “in charge” at both FTX and Alameda, Bloomberg reported. When pressed over if he called the shots as CEO, Bankman-Fried said, “I called some of them.”
Asked if he was involved with Alameda’s trading last year, he answered, “depends on how you define trading,” according to Bloomberg.
Prosecutors argue Bankman-Fried backdated documents
Sassoon alleged Bankman-Fried backdated documents, referencing testimony from former FTX executive Nishad Singh, who told the jury Bankman-Fried instructed him to inflate the exchange’s revenue to reach $1 billion by “backdating Serum staking fees,” Bloomberg reported.
When shown a document signed Jan. 1, 2021, Bloomberg reported Bankman-Fried claimed he signed it after that date and noted it likely was not the first time something like that happened.
Bankman-Fried confirms he thought highly of himself
The prosecution spent some of the cross-examination painting the picture that Bankman-Fried contributed to a certain public perception by not cutting his hair and wearing a T-shirt and shorts.
When Sassoon asked Bankman-Fried if he thought highly of himself, he answered, “I did,” per Bloomberg.
Bankman-Fried repeats “I am not sure,” throughout cross-examination
Bloomberg reported the phrase “I am not sure” became part of Bankman-Fried’s typical response when being grilled by prosecutors.
He said multiple times he did not recall exactly what he had said in the past and sometimes did not fully answer the questions, Bloomberg reported, with some media reports estimating he said “I don’t recall” a 100 times.
–Updated on Oct. 31 at 5:45 a.m.
Business, News, Technology, FTX, ftx fraud, FTX trial Prosecutors on Monday grilled FTX founder Sam Bankman-Fried on the witness stand, taking aim at his credibility as his criminal fraud trial entered its fifth week in New York City. Bankman-Fried, 31, faces several charges over allegations that he defrauded his customers and investors of billions of dollars in a scheme that prosecutors have called…
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Advice
10 Tips To Creating Quality YouTube Content on a Budget
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2 weeks agoon
October 4, 2024Producing engaging YouTube videos doesn’t have to break the bank. With the right strategies and tools, you can create high-quality content that resonates with your audience without overspending.
Define Clear Objectives
Before you start filming, establish your goals. Are you aiming to increase brand awareness, drive traffic to your website, or boost video views? Your objectives will guide your content strategy and help you measure success.
Create Compelling Content
Invest time in developing high-quality video concepts. According to Analytics Partners, video content has twice the lasting impact of non-video content. Focus on creating content that resonates with your audience and aligns with your brand messaging.
Leverage Smartphone Technology
Modern smartphones offer excellent video quality. For example, the iPhone 12 Pro can shoot 4K video at 60 fps, rivaling many dedicated cameras. Pair your smartphone with a basic tripod and external microphone for professional-looking results.
Optimize Lighting
Good lighting is crucial for video quality. Natural light is free and effective. Position yourself near a window or invest in affordable lighting options like ring lights, which typically cost between $20-$100.
Post-Production and Optimization
Use Free Editing Software
Take advantage of free or low-cost editing tools. DaVinci Resolve, for instance, offers professional-grade editing capabilities at no cost for its basic version.
Optimize for SEO
YouTube’s algorithm considers factors like view count, engagement, watch time, and relevance when recommending videos[2]. Use keywords in your titles, descriptions, and tags to improve discoverability. For example, including relevant keywords in your title can increase views by up to 20%.
Engagement Strategies
Prioritize Community Engagement
Respond to comments and interact with your audience. YouTube puts recent comments front-and-center in your analytics dashboard, encouraging timely responses. This engagement can lead to higher watch times and subscriber growth.
Experiment with YouTube Shorts
YouTube Shorts are amassing tens of billions of views daily. Creating Shorts content can increase your channel’s visibility and engagement without requiring significant production resources.
Budget-Friendly Marketing Tactics
Leverage Remarketing
Implement remarketing campaigns to re-engage viewers who have already interacted with your content. This targeted approach can be more cost-effective than broad audience targeting.
A/B Testing
Experiment with different video formats, thumbnails, and titles. YouTube’s own data shows that 90% of top-performing videos have custom thumbnails. A/B testing can help you identify what resonates best with your audience without additional production costs.
Real-Life Example
Consider the case of Peter McKinnon, a photographer and filmmaker who started his YouTube channel in 2010. Using primarily his smartphone and basic editing software, he grew his channel to over 5 million subscribers. His success came from consistently delivering valuable content, engaging with his audience, and gradually improving his production quality as his channel grew.
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Author: Bolanle Media Staff
As a film industry professional, you’re likely no stranger to the hard work and dedication required to bring a project to life. However, you may not be aware of the crucial role film festivals play in advancing your career and the industry as a whole. Let’s revisit the importance of film festivals and how they can benefit you and your work:
Film festivals provide a platform for your work to be seen by a wider audience, including critics, distributors, and industry leaders. This exposure can lead to recognition, awards, and critical acclaim, which can boost your reputation and open doors to new opportunities.
From the Film Festival Circuit Founder, Mikal Fair:
“Explore the ‘Film Festival Submitter’s Handbook 2024,’ your ultimate guide to conquering the film festival circuit. Whether you’re a filmmaker or screenwriter, this essential resource provides practical strategies to navigate the competitive landscape of film festivals successfully. From crafting compelling titles, taglines, and synopses to creating impactful director’s and writer’s statements, this handbook equips you with the tools to shine in the festival circuit. Learn to develop effective marketing materials, including posters and trailers, and discover the importance of communication and presenting a professional package. With insights tailored to the evolving role of social media and marketing in the film industry, this handbook is your key to festival triumph. Get your copy now and embark on your journey to festival success!”
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Business
Laugh, Learn, and Connect: Houston Comedy Film Festival Oct 5th
Published
2 weeks agoon
September 30, 2024Located in: EADO Workspaces
The Houston Comedy Film Festival is set to return on October 5th, 2024, and it promises to be an exciting day filled with laughter, learning, and networking opportunities for comedy enthusiasts and aspiring filmmakers alike. This year, the festival welcomes Roselyn Omaka as the new festival director, bringing her expertise and innovative vision to the event.
Attendees can look forward to engaging sessions led by industry professionals. Joan Montreuil from The Newbie Film Academy will provide invaluable insights into financing films and raising capital, helping aspiring filmmakers navigate the often complex world of film funding. Meanwhile, Deloris from DD’s Showbiz will host an interactive acting workshop designed to enhance participants’ skills and confidence in front of the camera.
Although LemarKus Tinker from Friday Night Lights won’t be attending in person, he will offer an exciting virtual one-on-one guidance session for aspiring directors. This unique opportunity allows participants to connect directly with him from the comfort of their homes, gaining personalized advice and insights that can help shape their directorial vision. Imagine having a chance to ask questions and receive feedback from a seasoned professional in the industry—this virtual interaction is sure to be a highlight!
In addition to these educational opportunities, festival winners will have the chance to receive valuable resources from sponsors to further improve their films and business outcomes. This support could be the stepping stone that many emerging talents need to make their mark in the competitive world of filmmaking.
The festival kicks off at 12 PM sharp, so attendees are encouraged to arrive 10 minutes early to ensure they don’t miss any of the action. It’s important to note that everyone must purchase a ticket to attend this fantastic event. Tickets are available for $50, which grants full access to all festival activities. Attendees can purchase their tickets through different platforms: filmmakers (not screenwriters) are encouraged to buy their tickets on filmfestivalcircuit.com, while guests and screenwriters should secure their tickets via meetup.com/bolanlemedia. Tickets can also be purchased at the door on the day of the event.
The Houston Comedy Film Festival has been a cornerstone of the independent film community since its inception in 2008 by author and retired filmmaker Mikel Fair. Over the years, it has consistently ranked in the FilmFreeway Top 100, cementing its status as a must-attend event for comedy filmmakers and fans.
With Roselyn Omaka’s leadership, the star-studded lineup of industry professionals, and the diverse array of films and activities planned, the 2024 Houston Comedy Film Festival is shaping up to be an unmissable experience. Whether you’re an aspiring filmmaker, a comedy enthusiast, or simply looking for a day filled with laughter and learning, this festival has something for everyone.
Don’t miss out on this fantastic opportunity to immerse yourself in the world of comedy filmmaking. Grab your tickets now and be part of the Houston Comedy Film Festival experience! Join us on October 5th at the Coronation Theatre in Houston for a day of creativity, laughter, and cinematic celebration! Your next big break could be waiting for you!
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