NEW YORK, Oct 5 (Reuters) – A selloff in U.S. government bonds rattled everything from stocks to the real estate market as investors rebalanced their portfolios as Treasury yields hit their highest level in more than a decade and a half.

The benchmark 10-year U.S. Treasury yield, moving inversely to prices, is near levels last seen in 2007 following a sell-off fueled by the Federal Reserve and mounting financial concerns. According to Bank of America Global Research, Treasuries are on track to record their third straight annual loss, an event unprecedented in US history.

As the $25-trillion Treasury market is considered the bedrock of the global financial system, the rise in yields on U.S. government bonds had far-reaching consequences. The S&P 500 is down about 8% from this year’s highs as the promise of guaranteed yields on U.S. government debt lured investors away from equities. Mortgage rates, meanwhile, have weighed on real estate prices and are at more than 20-year highs.

Here’s a look at some of the ways that rising yields are reverberating across markets.

Higher Treasury yields can curb investors’ appetite for stocks and other risky assets by tightening financing conditions as they raise the cost of borrowing for companies and individuals.

Rising yields have also dulled the attractiveness of stocks for investors holding bonds for a limited period, with some Treasury maturities yielding more than 5%. High dividend-paying stocks in sectors such as utilities and real estate have been hit hardest as investors gravitate toward government debt.

Stocks of technology and growth companies whose future profits are heavily discounted against higher yields.

Another effect of the rise in yields is the dollar, which has advanced about 7% on average against its G10 peers since the rise in Treasury yields accelerated in mid-July. The dollar index, which measures the buck’s strength against six major currencies, is near a 10-month high.

A strong dollar helps tighten financial conditions and could hurt the balance sheets of U.S. exporters and multinational corporations. Globally, this complicates efforts by central banks to reduce inflation by devaluing other currencies.

Traders have been watching for weeks for possible intervention by Japanese authorities to combat a lingering depreciation in the yen, which has fallen 12% against the dollar this year.

The interest rate on a 30-year fixed-rate mortgage — the most popular U.S. home loan — is at its highest since 2000.

This affects the confidence of home builders and pressures mortgage applications.

In an otherwise resilient economy with a strong job market and robust consumer spending, the housing market has been hit hard by the central bank’s aggressive moves to curb demand and lower inflation.

Credit market spreads widened as Treasury yields rose and investors sought higher yields in riskier assets such as corporate bonds.

During the collapse of Silicon Valley Bank (SVB) and New York Signature Bank in March, corporate bonds were charged at a premium over Treasuries or credit spreads (.MERC0A0), (.MERH0A0).

However, the recent rise in yields has widened credit spreads again, adding to funding costs for prospective borrowers.

With interest rates and little clarity on the path the U.S. financial crisis will play out, few expect volatility in bonds to ease anytime soon.

The central bank has signaled that it will keep raising rates until 2024, although investors will see cuts in June 2024.

The increase in the US government’s deficit spending and the borrowing to cover that spending has worried investors.

The MOVE Index (.MOVE), a measure of expected volatility in US Treasuries, rose to a 4-month high, indicating expectations for continued Treasury market volatility.

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According to a new study, going meatless may not be a matter of choice.

The study, published Wednesday in PLOS One, found that all four genes are associated with how well one can adhere to a vegetarian lifestyle.

“Genetics plays a significant role in veganism at this time and it can be said that some people are genetically better suited to veganism than others,” said the lead study author. Dr. Nabeel YasinProfessor of Pathology, Northwestern University Feinberg School of Medicine.

In addition to religious and cultural practices, health, moral and environmental reasons have all figured in motivating people to reduce or eliminate meat consumption — but they haven’t always been so successful, Yaseen said in an email.

“A large proportion of self-described vegetarians actually report consuming meat products when answering detailed questionnaires,” he said. “This suggests that many people who want to be vegetarian are unable to do so, and our data suggest that genes are also part of the cause.”

study It’s not possible to identify who is or isn’t genetically predisposed to veganism, but researchers hope future work will tackle that question, Yaseen said.

This could lead to better health information in the future, said Dr. Jose Artovas, director of nutrition and genetics and professor of nutrition and genetics at Tufts University in Massachusetts. Artovas was not involved in the study.

“This study highlights the complex relationship between our genes and our dietary choices, and in the future, we may have personalized dietary recommendations based on genetic predispositions,” he said.

The researchers used data from the UK Biobank, a large biomedical database and research resource that follows people over long periods of time.

More than 5,000 strict vegetarians, defined as those who ate no animal meat in the past year, compared with more than 300,000 people in a control group who had eaten meat in the previous year, according to the study.

The researchers identified three genes that were strongly identified and another 31 genes that could be identified with vegetarianism. In a genetic analysis, the researchers found that vegetarians had different variants of these genes than non-vegetarians.

That may be due to how different people process lipids or fats.

Many of the genes found in the study to be associated with vegetarianism are related to metabolizing lipids, Yaseen said.

Plants and meat differ in the complexity of their lipids, he said, so some people may genetically need some of the lipids provided by meat.

“We hypothesize that this is due to genetic differences in fat metabolism and how it affects brain function, but more research is needed to investigate this hypothesis,” Yaseen said.

The study has limitations, Artovas said.

Everyone in the analysis was white, which Yassin said kept the sample homogenous to avoid cultural practices confounding the results.

But it holds data applicable to the entire population, Artovas said.

While the study doesn’t provide a definitive answer, it’s an important insight into nutrition, he said.

“This study shines a light on a relatively unexplored area of ​​research: the genetics behind food preferences,” Artovas said. “The association of genetic variants with long-term strict vegetarianism suggests a biological basis for this dietary choice, beyond cultural, ethical or environmental reasons.”

Washington
CNN
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A Biden administration would waive 26 laws to build Additional border barriers In the Rio Grande Valley, a step Notice It was posted in the Federal Register on Wednesday, citing “high illegal entry.”

Construction of the wall will use funds already allocated specifically for physical border barriers. But this move comes at a time A New Rise of Immigrants straining federal and local resources and putting severe political pressure on the Biden administration A wider crisis.

The Border Patrol reported about 300,000 encounters in the Rio Grande Valley between October and August. Federal data. Last month, the Border Patrol He was arrested More than 200,000 migrants have crossed the US-Mexico border, the highest number this year.

The Department of Homeland Security had decided it was “necessary to waive certain laws, regulations and other legal requirements to ensure expeditious construction of barriers and roads” along the U.S. border with Mexico in Starr County, Texas, Homeland Security Secretary Alejandro Mayorgas said in a filing with the U.S. Federal Registry.

“There is now a serious and urgent need to build physical barriers and roads near the US border to prevent illegal entry into the United States in project areas,” Mayorkas said in the announcement.

A 2019 appropriations bill that specifically paid for a “border barrier” in the Rio Grande Valley will pay for construction of the wall, and according to Mayorkas, “DHS must use those funds for their intended purpose.” The funds must be spent by the end of fiscal year 2023, prompting the administration to choose to move forward with construction in South Texas this year, according to a source familiar with the matter.

U.S. Customs and Border Protection announced plans to design and build up to 20 miles of new border barrier systems in Starr County, including light poles and lights, gates, cameras and access roads. CBP solicited public input between August and September, according to the agency.

Among the laws the Biden administration is ignoring to build the wall are many of the same laws the administration has moved to protect in the past, including: National Environmental Policy ActThe Endangered Species ActThe Clean Water Act and the Clean Air Act.

A CBP spokeswoman said the agency is “committed to protecting the nation’s cultural and natural resources” while implementing “sound environmental practices” to build border barriers.

President Joe Biden – who, as a candidate, He vowed He has been plagued by problems at the border since his first months in office, when the U.S. faced a surge in unaccompanied migrant children — saying there would not be “another foot” of the border wall built under his watch. Over the past two years, his administration has faced a fierce backlash from Republicans and, at times, Democrats.

But there has been a new surge of immigrants Additional pressure Federal resources have been tested just months after Biden’s latest border policies took effect, prompting fresh criticism from Republicans and concern within the administration over a politically sensitive issue.

Migration on the southern border a Incessant attention Republican presidential primary field and conservative media and leading Democrats, including mayors New York And ChicagoThey have begun to publicly demand stronger efforts by the central government to provide resources to accommodate the influx.

There are migrant crossings along the US-Mexico border Expected to be more More recently, a senior U.S. Customs and Border Protection official recently told CNN, however, that Mexico’s additional responsibilities are expected to eventually help reduce the number.

This week, Mayorkas, Secretary of State Antony Blinken, Attorney General Merrick Garland and White House Homeland Security Adviser Dr. Liz Sherwood-Randall will meet her Mexican counterparts in Mexico City for annual security talks.

Migration is expected to be a topic of discussion. Senior administration officials say the U.S. remains in constant contact with Mexico on the situation on the U.S. southern border, including commitments to improve enforcement.

This story has been updated with additional information.

Summary: A new study sheds light on the possible genetic basis underlying an individual’s adherence to a strict vegetarian diet.

Analyzing genetic data from more than 5,000 strict vegetarians and 329,455 controls, the researchers identified genes significantly associated with vegetarianism, primarily affecting lipid metabolism and brain function.

Positioning genetics as a plausible factor influencing food choices beyond moral and religious considerations, the groundbreaking study paves the way for a nuanced understanding of diet and genetics.

This insight prompts further research to elucidate the physiological differences between vegetarians and non-vegetarians, which can inform the development of tailored dietary recommendations and improved meat substitutes.

Key Facts:

1. Genetic predisposition: The study reveals potential genetic predisposition to influence vegetarianism, identifying three genes significantly and 31 genes associated with vegetarianism, many of which affect lipid metabolism and brain function.
2. Vegetarian Diversity: Despite the growing popularity and health benefits of a vegetarian diet, the majority of self-identified vegetarians often consume some form of meat, suggesting possible biological or environmental factors in strict adherence to the diet.
3. Future Implications: While this study provides pioneering insight into the genetics of dietary behavior, further research is essential to understand the physiological nuances between vegetarians and non-vegetarians, which will shape future dietary guidelines and improve meat substitute production.

Source: Northwestern University

From the Impossible Burger to “Meatless Mondays,” meat-free is definitely trending. But a person’s genetic makeup plays a role in determining whether they can stick to a strict vegetarian diet, a new Northwestern Medicine study finds.

The findings open the door to further studies that could have important implications for dietary recommendations and the production of meat substitutes.

“Can all humans live longer on a strict vegetarian diet? That’s a question that hasn’t been seriously studied,” said corresponding study author Dr. Nabeel Yaseen, professor of pathology at Northwestern University Feinberg School of Medicine.

A large proportion (about 48 to 64%) of self-identified “vegetarians” report eating fish, poultry, and/or red meat, suggesting that environmental or biological constraints override their preference for vegetarianism, according to Yassin.

“There seem to be more vegans than there actually are, and we think people might be missing out because there’s something difficult here.”

Many genes involved in lipid metabolism, brain function

To determine whether genetics contributes to a person’s ability to follow a vegetarian diet, the scientists compared UK Biobank genetic data from 5,324 strict vegetarians (who eat no fish, poultry or red meat) with 329,455 controls. All study participants were white Caucasians to achieve a homogenous sample and avoid confounding by race.

The study identified three genes significantly associated with vegetarianism and 31 potentially associated genes. Many of these genes, including the top two (NPC1 and RMC1), are involved in lipid (fat) metabolism and/or brain function, the study found.

“One area where plant products differ from meat is the complex lipids,” Yassin said. “My guess is that meat may contain the essential fatty acid(s) that some people need. People who favor genetic vegetarianism can synthesize these elements endogenously. However, at this time, this is just speculation and much more work needs to be done to understand the physiology of the plant.

The study will be published in the October 4 issue of the journal PLOS ONE*. This is the first fully peer-reviewed and indexed study to look at the link between genetics and a strict vegetarian diet.

Why do most people eat meat?

Religious and moral considerations are the main motivations behind adopting a vegetarian diet, and recent research has provided evidence for its health benefits. Although vegetarianism is growing in popularity, vegetarians remain a minority population worldwide. For example, in the United States, vegetarians make up about 3 to 4% of the population. In the UK, 2.3% of adults and 1.9% of children are vegetarian.

This raises the question why most people still prefer to eat meat products. The driving factor for food and drink preference is not just taste, but how an individual’s body metabolizes it, Yaseen said. For example, when trying wine or coffee for the first time, most people don’t find them enjoyable, but over time, a taste develops because of how the alcohol or caffeine makes them feel.

“I think there’s something similar with meat,” Yaseen said. “Maybe you have a certain component—I’m guessing a lipid component—that makes you need it and crave it.”

If genetics affects whether someone is a vegetarian, what does that mean for people who don’t eat meat for religious or moral reasons?

“While religious and moral considerations certainly play an important role in the motivation to adopt a vegetarian diet, the ability to adhere to such a diet is controlled by genetics,” Yaseen said.

“We hope that future studies will lead to a better understanding of the physiological differences between vegetarians and non-vegetarians, thus enabling us to make personalized dietary recommendations and develop better meat substitutes.”

The study, titled “Genetics of Vegetarianism: A Genome-Wide Association Study,” was conducted in collaboration with scientists from Washington University in St. Louis and Edinburgh, United Kingdom.

About this diet and genetics research news

Author: Christine Samuelson
Source: Northwestern University
Contact: Christine Samuelson – Northwestern University
Image: The film is credited to Neuronews

Original Research: Open access.
“Genetics of vegetarianism: a genome-wide association studyNabeel Yasin and others. PLOS ONE

Summary

Genetics of vegetarianism: a genome-wide association study

Considerable evidence points to the heritability of dietary preferences. Although vegetarianism has been practiced in various societies for thousands of years, its practitioners remain a minority population worldwide, and the role of genetics in the choice of a vegetarian diet is not well understood.

Dietary choices involve interactions between the physiological effects of foods, their metabolism, and taste perception, all of which are strongly influenced by genetics. In this study, we used a genome-wide association study (GWAS) to identify loci associated with strict vegetarianism in UK Biobank participants.

Comparing 5,324 strict vegetarians with 329,455 controls, we identified a SNP on chromosome 18 significantly associated with vegetarianism at a genome-wide level (rs72884519, β = -0.11, B = 4.997 x 10^-8), and an additional 201 significantly significant variants. Four genes are associated with rs72884519: TMEM241, RIOK3, NPC1And RMC1. Using the Functional Mapping and Annotation (FUMA) platform and the Multi-marker Analysis of Genomic Annotation (MAGMA) tool, we identified 34 genes with a potential role in vegetarianism, 3 of which were GWAS-significant based on gene-level analysis: RIOK3, RMC1And NPC1.

including several genes associated with vegetarianism TMEM241, NPC1And RMC1As lipids have important functions in metabolism and brain function, differences in lipid metabolism and their effects on the brain may underlie the ability to adhere to a vegetarian diet.

These results support a role of genetics in the choice of vegetarian diet and open the door for future studies aimed at further elucidating the physiological pathways involved in vegetarianism.

PHILADELPHIA — Zack Wheeler wandered into the dugout at 4:53 pm ET wearing a red T-shirt, gray sweatpants and black Nike slides with white socks. He leaned on the top step. He stared at the Citizens Bank Park mound. And, for the next 32 minutes, the Phillies’ ace didn’t budge.

A reporter in a red leather band disrupts his view while taking a selfie. Cameramen walked past Phillies as they filmed him taking batting practice. A reporter asked Wheeler if he could borrow a baseball from a nearby bucket. Wheeler lurched to a halt. Howard Eskin, longtime sports-talk radio grover, reached out. They talked for almost 20 minutes. “Everything but baseball,” Eskin said later. A starter shouldn’t be interrupted on the day he pitches, but Wheeler called it before Game 1 of the wild-card series against the Marlins — a 4-1 Phillies win.

“I like going out and seeing the field,” Wheeler said. “Feeling the weather. All that stuff. Watching the guys do their job. I don’t know.”

For the most part, during those 32 minutes, Wheeler’s view of the mound was limited. But he looked straight the entire time. He does this before every start and he doesn’t know when he started doing it. Usually, he’s in street clothes, and generally, it’s less confusing. He does not visualize anything specific. He is thinking.

Bryson Stott said: “He’s about as human as you can be.

“No minute,” Bryce Harper said, “and it’s too big for Zack Wheeler.”

“I think everybody in this organization appreciates what he’s done,” manager Rob Thompson said, “because it’s unique.”

Wheeler stepped on the mound at 8:09 p.m., and he threw a 98 mph fastball. “98 was when I saw his first fastball,” Stott said. It was so electric.” The next fastball was 98.2 mph. The third was 98.6 mph. He threw two more at 98.6 and 97.9.

Then, with his sixth pitch of the night, he froze Jorge Soler with an 0-2 sweeping slider. Catcher JD Realmudo was motivated. He studied every Marlins hitter with Wheeler. Solr doesn’t take 0-2 sliders like that. Something happened.

“It’s going to be a big pitch for us,” Realmudo said.

Seven months ago, before the start of spring training, pitching coach Caleb Gotham pitched Wheeler a new idea. He liked to tinker with a sweeper — a slower version of the slider with more horizontal movement. Wheeler is skeptical by nature. He’s not tough; He is careful whom he trusts. He likes Gotham. They have developed a relationship that has helped Wheeler evolve into the 33-year-old pitcher he is today.

The cleaner was keen enough in the spring to carry it through the season. But, often, other pitches took precedence. The new toy didn’t always move the way he wanted. It looked like a ball out of his hand several times. The next step in refining the pitch in the second half of the season, Gotham said, is starting high.

“So it plays from the right to the thigh line,” Gotham said. “It’s got to take advantage of the offense. They’ve got to settle the two-seamer. When (Wheeler) has a good two-seamer, he has a lot of room to throw the sweeper in the zone.

On Tuesday night, Realmuto only needed a sweeper to find out. He started calling more. Wheeler recorded five of his eight strikeouts on the sweeper. He pitched 6 2/3 innings. He didn’t allow a Marlins runner to reach second base until the seventh inning.

“That’s what the cleaner was best at,” Wheeler said. “That was a big pitch for me tonight. I had a good feel for where to start it and what it was going to do. Whether I threw it up or down, it did the same thing every time. So it was a big pitch for me tonight.

Here’s Wheeler, in a crucial postseason game, leaning into a pitch he hadn’t thrown before this season. His fastball had extra juice, but he had other weapons. That is evolution.

“With the wheels, his fastball is so high, you have to use the slider as much as you can to keep it off the fastball,” Realmudo said. “Today, the slider was really good, and we used the slider because it was good. It wasn’t necessarily trying to cover the fastball.

There was one janitor in particular that Gotham loved. It was the sixth inning. Nick Fords, the Miami catcher, worked a full count. Wheeler missed with two sweepers earlier in the at-bat. Realmuto called for another. A walk would have made the inning hairy with the top of Miami’s lineup reeling.

Fords squashed a janitor in the strike zone.

“That’s pitching,” Gotham said. “(Fords) was probably thinking, ‘Hey, he’s going to throw me a fastball.’ And Wheels was a step up there.

Wheeler ended his conversation with Eskin at 5:25 p.m. and disappeared into the clubhouse for further preparation. At 7:33 p.m., he came out of the dugout to take the long walk to the outfield. The fans noticed him and that’s when the cheering started.

He invented another tool.

“It’s supposed to be atmospheric and get the adrenaline going,” Wheeler said. “As soon as I stepped out of the dugout to stretch in the bullpen, the crowd crushed me and I got cold feet. So that’s where it started. I think throwing baseballs kind of takes away from me. It definitely helps.”

How Wheeler dictated the game. He threw 10 pitches in the first inning, 10 pitches in the second and 12 more in the third. The Phillies squandered opportunities to take an early lead, but Wheeler didn’t let that derail his momentum.

“He solidified the game,” Gotham said. “It settled the game.”

“That’s huge,” Realmudo said. “That’s mostly huge on their opposing pitcher. That guy (Miami starter Jesus Luzardo), he’s been struggling to get through the innings and throws a lot of pitches. Then Wheels comes out and does a 10-pitch inning, and he’s back on the mound, fighting. He almost got out of the last inning. No. It feels like a consistent, consistent thing. That’s the great thing about having momentum on your side. Having a quick shutdown inning. It helps your offense a lot.

The moment never felt so big. That’s why the Phillies hope they can go two more wins than they did last season. That’s why they’re scary. They have players like Wheeler who open up more in October.

“You never take it for granted,” Wheeler said of the crowd’s support. “I caught a cold immediately. I knew it was going to be crazy, but I wasn’t expecting it. It was wonderful. They really got me going. That’s why we all love playing at home. Throughout the game — maybe a 3-2 pitch or sometimes with two strikes — the crowd goes wild, and you sit there and take it in for a second and then lock it back up and go after the guy.

October must be chaotic. Everything moved quickly around Wheeler in the hours before he dominated Tuesday night, and he never lost sight of the mound. He never once looked rushed on the mound. Phillies didn’t panic. They had Wheeler.

“That’s why,” Gotham said, “he is who he is.”

(Top photo: Sarah Stier/Getty Images)

Republican Rep. Kevin McCarthy was ousted as House speaker following a revolt within his own party and went to the polls without a key ally who helped propel him to the leadership post in January — Donald Trump.

The former president, currently involved in his civil fraud trial in New York, intentionally did not participate in the latest spat between Republicans, multiple sources familiar with the matter told CNN.

Sources said Trump, who has allies on both sides of the speakership battle, believes there is little political upside to engaging in a power struggle now. Florida Rep. Matt Gates, who led the effort to unseat McCarthy, has endorsed Trump’s 2024 presidential bid and is serving as a surrogate for his campaign.

“He did his thing when he ran for Speaker for Kevin, but at the same time DJT needs to focus on his own business, and he can’t stick his neck out whenever there’s a fight in the House, especially when he has people on both sides of the aisle who support him,” a Trump associate told CNN. said.

The former president, who spent the weekend campaigning in Iowa before traveling to Manhattan to attend his hearing, said little about the congressional battle, his aides said.

A senior adviser who regularly travels with Trump told CNN, “He never once mentioned the speaker fight. If he’s interested in getting involved, he’ll bring it on.

Trump’s non-committal decision was a stark contrast to his efforts to help McCarthy earlier this year. In January, when McCarthy struggled to become speaker by more than a dozen votes, the former president urged GOP holdouts to stand down at the 11th hour.

Trump called on McCarthy’s behalf to his staunch supporters, including Getz and Rep. Marjorie Taylor Green of Georgia. When McCarthy eventually won the 15th ballot, he immediately thanked the former president for his support.

It’s unclear whether Trump will ultimately change his mind and decide to insert himself into the speaker’s fray, especially if it drags on for days, as it did last year. But until Tuesday afternoon, the former president avoided taking a side, issuing only vague statements about the infighting in Congress.

Asked about Getz’s efforts to oust McCarthy during a campaign stop in Iowa on Sunday, Trump told reporters, “I don’t know anything about those efforts, but I like them both very much.”

Pushed further by reporters on whether he expected McCarthy to win, Trump said he “didn’t want to comment” on the fight, saying, “I’ve always had a great relationship. [with McCarthy] When he said very nice things.”

On Tuesday, minutes before the House was set to vote on a Getz-led effort to remove McCarthy from his role, Trump released a wide-ranging statement about the internal infighting over Truth Social.

NEW YORK, Oct 3 (Reuters) – Sam Bankman-Fried is set to go on trial on charges of stealing billions of dollars from customers of his FTX cryptocurrency exchange starting on Tuesday, nearly a year after the company’s collapse shocked markets and tarnished his reputation. .

Dozens of New York residents, many with jury summons in hand, began streaming into the federal courthouse in lower Manhattan ahead of jury selection, which is scheduled to begin at 9:30 a.m. EDT (1330 GMT).

Federal prosecutors say the 31-year-old ex-billionaire took FTX clients from its founding in 2019 through its November 2022 bankruptcy to shore up his hedge fund Alameda Research, buy luxury properties and donate more than $100 million to US political candidates.

Bankman-Fried pleaded not guilty to seven counts of fraud and conspiracy. He admitted to adequate risk management but denied stealing funds. His attorneys have signaled in court documents that they plan to argue that FTX’s handling of customer funds was correct and that FTX and others in Alameda were largely to blame for their failure.

The first step in the trial is the selection of a 12-member jury, which will weigh the competing stories in ultimately deciding whether Bankman-Fried is guilty.

U.S. District Judge Louis Kaplan will ask New York residents questions about their backgrounds and experiences in an effort to weed out any prospective jurors who might be biased.

The trial is expected to last up to six weeks. Testimony will feature from three former members of Bankman-Fried’s inner circle who have pleaded guilty to fraud charges and agreed to cooperate with the Manhattan US Attorney’s Office.

Bankman-Fried’s attorneys have indicated they plan to challenge the credibility of those witnesses — who include former Alameda president Carolyn Ellison and former FTX executives Gary Wang and Nishad Singh — arguing they are motivated to target their client in order to get a lesser sentence. Strategy in White Collar Fraud Cases.

They laid the groundwork for arguing that Banker-Fried believed his exchange was allowed to invest customers’ deposits as long as customers could withdraw their funds, and that a series of business failures — not intentional fraud — left the exchange. Without sufficient funds to meet withdrawal requests.

Bankman-Fried is the most high-profile case U.S. attorneys have ever brought against a former cryptocurrency executive.

The indictment he filed last December marked a dramatic fall for Banker-Fried, who had built a reputation as a methodical operator in an industry.

Prosecutors say Bankman-Fried built that reputation with lies and enhanced it with endorsements from celebrities and star athletes.

After a judge found Ellison engaged in witness tampering — including sharing his personal writings with a reporter — Aug. Bankman-Fried has been held at the Metropolitan Detention Center in Brooklyn since 11. Ellison and Bankman-Fried were former romantic partners.

He is brought to court early on most days to allow him to prepare with his lawyers.

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CNN
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The Marion, Kansas, police chief ordered widely criticized law enforcement Check the local newspaper The mayor said the city had resigned its publisher’s residence this summer.

Marion Police Chief Gideon Cody resigned Monday, Mayor David Mayfield told CNN, but declined to comment further, saying it was a “personal matter.”

Officer Zach Hudlin has been named Marion’s acting police chief, the mayor said. Hudlin was present during the search of Marion County records and seized items, including a cellphone from a reporter at the newspaper, according to a copy of the search warrant.

CNN has reached out to Hudlin for comment.

The Kansas Peace Officers Association did not immediately respond to CNN’s request for comment on Cody’s resignation.

The leader’s departure comes after his presence Suspended The investigation into the raid last week continues.

In August, authorities raided the Marion County Recorder’s Office and the home of a newspaper publisher and county councilwoman, seizing reporters’ cellphones and computers and other items. The move drew widespread criticism from news organizations and press freedom advocates.

Eric Meyer, the magazine’s publisher, said he believes the raid in Marion, about 60 miles north of Wichita, was prompted by a story about a local restaurant owner. But officials said they were investigating what they called “identity theft.” In a search warrant.

Cody suggested the raids were based on the belief that a reporter at the time illegally obtained the restaurant owner’s driving records. According to unredacted affidavits obtained by CNN.

But less than a week into the trials, Marion County’s top prosecutor, Joel Enc The search warrants were withdrawn He also asked the authorities to return the seized items, saying “there is insufficient evidence to establish a legally sufficient connection between this crime and the premises searched and the items seized”.

The former police chief has also faced The federal lawsuit, filed by Marion County Record reporter Debbie Gruver, Cody alleged a violation of his constitutional rights by obtaining an “unreasonable and illegal” search warrant and seizing his personal property.

The lawsuit alleges Cody targeted Gruver because he knew he was investigating allegations of misconduct against the chief during his tenure with the Kansas City Police Department, although the newspaper did not publish those allegations.

In addition to seizing his computer, Gruver claims Cody also seized his personal cell phone, which the lawsuit argues was not covered by the warrant. Cody did not respond to CNN’s requests for comment at the time.

It is not just the Inspector General of Police who has faced setbacks in these raids.

Judge Laura Weir, Signatory to a search warrant authorizing the searchesHe faces a complaint about his decision and has been asked by the Justice Department to respond, records shared with CNN by the complainant show.

The Kansas Bureau of Investigation is now the lead law enforcement agency overseeing police raids on the mayor’s office and home, the bureau previously told CNN.