Thirty-one-year-old Sam Bankman-Fried heads to trial in New York in what prosecutors say is one of the largest fraud cases in U.S history. He is accused of misusing money made from his cryptocurrency exchange, FTX, ultimately leading to its collapse.

New York

Former FTX co-founder Sam Bankman-Fried has been found guilty of defrauding investors and customers.

Bankman-Fried Guilty

Crypto on trial, as Sam Bankman-Fried faces fraud charges

FTX is a global cryptocurrency exchange. This is Sam Bankman-Freed, testifying before Congress in December 2021. We are processing about $15 billion per day of trading volume. By then, he had vaulted to celebrity entrepreneur status as the founder of the cryptocurrency exchange FTX. What's up, guys? I'm here with my boy, Sam. With the help of celebrities and expensive ad campaigns. FTX is the safest and easiest way to buy and sell crypto. He promoted crypto's money-making potential to the public as safe and secure. With FTX, I buy, sell and trade crypto safely. Bankman-Freed became a billionaire and the face of the industry. Him and his colleagues had also made a big impression in political circles, mainly in Washington by throwing around millions of dollars in donations and talking a big game about their plans to do good with charitable donations and whatnot. But then it all began to unravel. Prosecutors allege he illegally used money from FTX to cover losses at another company he started, a hedge fund called Alameda Research, to donate tens of millions of dollars to politicians and to buy real estate in the Bahamas, where he was arrested last year. Then when questions about the company's financials spurred a wave of investor withdrawals, FTX collapsed. Its name has since been removed from this Miami sports arena, and both companies have since filed for bankruptcy, losing an estimated $8.9 billion in customer funds. Sam Bankman-Freed has been waiting for his day in court here in a New York prison cell, a far cry from the Bahamas resort where he was living prior to his arrest. The judge in the case revoked his $250 million bail and his permission to live with his parents in the run-up to the trial, saying that Bankman-Freed had attempted to intimidate a witness, his former girlfriend, who also happens to be the former CEO of Alameda. While his parents, both lawyers, have stood behind Bankman-Freed, the former girlfriend and three former FTX executives have pleaded guilty. Three are reportedly cooperating with prosecutors. Bankman-Freed has said repeatedly that he didn't intend to commit fraud. To convict him, prosecutors will have to convince the jury that he knowingly misled his customers. Kristen Salumi, Al Jazeera, New York.

Ukraine has appointed a new prime minister, 39-year-old Yulia Svyrydenko, as part of a sweeping government reshuffle announced by President Volodymyr Zelenkskyy. This marks the most significant political shift since the start of Russia's full-scale invasion in 2022.

Kyiv

Ukraine Invasion

Yulia Svyrydenko takes charge as Ukraine's new prime minister

Former Brazilian president Jair Bolsonaro, currently on trial at the Supreme Court, has been ordered to wear an electronic ankle monitor. Bolsonaro is accused of leading an alleged attempt to stage a coup to overturn the 2022 election.

Rio de Janeiro

Brazil's Bolsonaro ordered to wear ankle monitor

At least three deputies were killed after an explosion at a Los Angeles County Sheriff's Department training facility, officials said. Attorney General Pam Bondi said federal agents were at the scene.

Los Angeles

Three killed in explosion at L.A. County Sheriff's Department facility

The UK's Labour Party has passed a landmark electoral reform, aligning with Scotland and Wales in lowering the voting age from 18 to 16. The change fulfills a key promise by the ruling party but garnered criticism from the Conservative Party.

London

UK lowers voting age from 18 to 16 in historic electoral reform

The U.S. House of Representatives approved a rescissions package to slash $9 billion in foreign aid and public broadcasting funding, sending the bill to President Donald Trump's desk.

Washington

U.S. House passes $9 billion cut to foreign aid, public broadcasting

U.S. President Donald Trump on Thursday night ordered Attorney General Pam Bondi to help facilitate the release of grand jury transcripts related to Jeffrey Epstein as the administration faces pressure to share more materials on the case.

Trump orders release of Epstein-related grand jury transcripts

The European Union has agreed to impose a new round of sanctions against Russia, targeting the country's energy and financial sectors in a bid to tighten the screws on the Kremlin's war machine and force a temporary ceasefire in Ukraine.

Moscow

EU imposes new sanctions on Russia's oil and banks

U.S. President Donald Trump denies writing a letter signed 'Donald' beneath a nude sketch in Jeffrey Epstein’s 50th birthday album, details of which were published by the Wall Street Journal. The letter is now under review by the U.S. Justice Department.

Trump denies writing crude letter to Jeffrey Epstein

Following a call with President Trump, Israeli Prime Minister Benjamin Netanyahu issued a rare apology, saying the only Catholic church in Gaza was hit by stray ammunition. The blast killed three civilians. Ramy Inocencio reports.

Jerusalem

Middle East Conflict

Netanyahu apologizes for deadly strike on Catholic church in Gaza

Homeland Security Secretary Kristi Noem has suggested that TSA may soon end its restrictions on liquids in carry-on bags.

TSA may eliminate liquid restrictions on planes

A Tennessee judge on Thursday set Kilmar Abrego Garcia's criminal trial date for January 27, 2026. Abrego Garcia is facing human smuggling charges. CBS News justice correspondent Scott MacFarlane reports.

Tennessee

Judge sets Kilmar Abrego Garcia's criminal trial date for January 2026

White House press secretary Karoline Leavitt said Thursday that President Trump has been diagnosed with chronic venous insufficiency.

Trump diagnosed with chronic venous insufficiency

Black-box recording indicates that the flight's captain switched off fuel flow to both engines of the recently crashed Air India airplane, according to media reports on Wednesday, citing preliminary U.S. assessment of evidence.

Ahmedabad

Flight captain switched off fuel flow to engines in Air India crash

The Department of Justice has fired Maurene Comey, a federal prosecutor and the daughter of ex-FBI director James Comey. This comes as the White House tries to mitigate demands for the Jeffrey Epstein files to be released.

DOJ fires Maurene Comey, who helped prosecute Jeffrey Epstein

The Senate approved a $9.4 billion rescissions request, sending it back to the House of Representatives for approval.

Senate approves spending cuts to foreign aid, public broadcasting

Israel has faced international condemnation over its three days of airstrikes in Syria. The European Union and the United Nations have called for a return to calm, while Iran has urged countries in the region to respond against Israel.

Damascus

World reacts to Israeli attacks on Syria’s Damascus

German Chancellor Friedrich Merz makes his first state visit to the United Kingdom to sign a historic defence cooperation treaty—the first of its kind between Germany and Britain since the Second World War. The agreement includes plans for joint defence efforts, boosting economic collaboration, and tackling illegal migration.

Germany and UK seal historic defence pact

Donald Trump says American-made weapons bought by NATO are being shipped to Ukraine. Trump's also threatening sanctions, saying his aim is to force Putin to negotiate an end to the war. But with Ukraine under nightly attack, there’s scepticism over whether he'll achieve anything.

U.S. ships NATO purchased Patriot missiles to Ukraine

Syria condemns Israel for fatal strikes on several government buildings in Damascus. The escalation threatens to disrupt new U.S.-brokered security talks between Israel and Syria, with both sides expressing concerns over stability in the region.

Israeli airstrikes on Syria threaten security talks

U.S. President Donald Trump is still dealing with fallout from his own supporters over his administration's handling of the Jeffrey Epstein files. CBS News Department of Justice reporter Jake Rosen has more.

Trump says Epstein conspiracy theory is hoax started by Democrats

Mexican President Claudia Sheinbaum said that she spoke with Canadian Prime Minister Mark Carney and that the two had agreed to strengthen trade collaboration, particularly in light of the tariffs from U.S. President Donald Trump set to go in effect on August 1.

Mexico City

Global Tariffs

Mexico plans to strengthen trade with Canada

Former President Barack Obama joined his wife, former first lady Michelle Obama, on her latest podcast episode with her brother Craig Robinson to address divorce rumors.

Obamas address divorce rumors on Michelle’s podcast

Israel struck Syrian military targets as well as central Damascus on Wednesday (July 16) as it continued its campaign to protect Druze minority communities in southern Syria.

Israel strikes Damascus as fighting rages in southern Syria

U.S. ambassador Mike Huckabee's appearance at Benjamin Netanyahu’s corruption trial follows President Trump's call for Israel to throw out the case or pardon the Israeli prime minister.

Tel Aviv-Yafo

U.S. ambassador attends Netanyahu trial to show support from Trump

President Donald Trump on Tuesday said the U.S. would impose a 19% tariff on goods from Indonesia under a new agreement with the Southeast Asian country and more deals were in the works as he continued to press for what he views as better terms with trading partners.

Trump eyes more trade deals soon as EU readies retaliation

At least 20 Palestinians were killed on Wednesday (July 16) at an aid distribution site run by the Gaza Humanitarian Foundation, in what the U.S.-backed group said was a crowd surge instigated by armed agitators. This video contains graphic images.

Crush at Gaza aid site kills at least 20, GHF blames agitators

Police in Los Angeles have arrested a 22-year-old suspect in the double homicide of American Idol executive Robin Kaye and her husband, Thomas Deluca. The couple, both 70 years old, was found shot to death in their home earlier this week.

Encino

Police make arrest in murders of American Idol executive, husband

Streaming shows dominated nominations for the 2025 Emmy Awards. "Severance" earned the most series nominations with 27. Meanwhile, "The Studio" earned the most-ever nominations for a debut comedy series with 23.

Hollywood

'Severance' and 'The Studio' earn top Emmy nominations

The United Torah Judaism party has decided to quit Prime Minister Benjamin Netanyahu's ruling coalition over its failure to secure military service exemptions. Members of the ultra-orthodox community have been exempted from enlisting in the army since 1948.

Major cracks in Netanyahu coalition as ultra-Orthodox party quits

New information about the Jeffrey Epstein case may soon be made public after a reversal from U.S. President Donald Trump and weeks of criticism — the loudest of which has come from within the MAGA movement.

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Bankman-Fried Guilty