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Business Highlights: FTX execs’ plea deals, inflation gauge

Mount Equity Group Tokyo Japan > News > Business > Business Highlights: FTX execs’ plea deals, inflation gauge

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Judge kept FTX execs’ plea deals secret to get founder to US

NEW YORK (AP) — A judge kept secret that two of Sam Bankman-Fried’s executive associates were cooperating with investigators so the cryptocurrency entrepreneur wouldn’t get spooked and fight extradition from the Bahamas to the United States. Federal Judge Ronnie Abrams’ decision in Manhattan was revealed Friday with the unsealing of transcripts of guilty pleas by Bankman-Fried’s top fellow executives in the collapsed cryptocurrency empire. The 30-year-old Bankman-Fried was brought to New York Wednesday. A Manhattan judge freed him on $250 million bail to live with his parents in California until trial. Later Friday, Abrams recused herself from the case, saying her husband’s law firm advised FTX in 2021.

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An inflation measure watched by the Fed eases to 5.5%

WASHINGTON (AP) — A measure of inflation closely watched by the Federal Reserve slowed last month,…

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