Markets and geopolitics drove the business agenda today. In a major legal reckoning for crypto, a federal appeals court upheld Sam Bankman-Fried’s fraud conviction and 25-year sentence, saying the evidence from the FTX collapse was overwhelming and leaving him with only narrow op...
Markets and geopolitics drove the business agenda today. In a major legal reckoning for crypto, a federal appeals court upheld Sam Bankman-Fried’s fraud conviction and 25-year sentence, saying the evidence from the FTX collapse was overwhelming and leaving him with only narrow options for further appeal. On Wall Street, meanwhile, SpaceX made a spectacular Nasdaq debut after a record $75 billion IPO, surging above its offer price and underscoring investors’ appetite for Musk-led growth despite the company’s continued losses. In media, the Justice Department signaled it will not challenge Paramount Skydance’s proposed $81 billion tie-up with Warner Bros. Discovery, though other regulators still have a say. And beyond the markets, business risk remained tightly linked to conflict, as a Ukrainian drone strike hit Russian energy infrastructure while President Trump publicly rejected reported leaked terms of a possible U.S.-Iran deal.
Top Business stories
- Appeals court upholds Sam Bankman-Fried’s fraud conviction and 25-year sentence (21 sources)
- SpaceX stock begins trading after record $75 billion IPO, surging on Nasdaq debut (14 sources)
- Ukraine drone strike kills one and sparks fire at Russian sea terminal (11 sources)
- DOJ says Paramount Skydance–Warner Bros Discovery merger likely won’t harm competition or consumers (5 sources)
- Trump says Iran’s leaked U.S.-Iran deal terms are untrue, disputes reporting (5 sources)
- Space stocks fall after SpaceX IPO as market reprices space sector shares (4 sources)
- SpaceX IPO sparks debate over Wall Street’s “Mag 7” tech-stock nickname (4 sources)
- US and Iran-linked developments near Strait of Hormuz as proposed peace terms surface (4 sources)
Porter Gazette
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