US vs Sam Bankman-Fried, fraud trial of the decade so far, gets under way in New York

Image of the week: SBF on trial

Cryptocurrency might have prided itself on its digital credentials, but cryptocurrency trials remain wedded to the practicalities of paper. Here, a court clerk outside a New York courtroom is seen pushing a weighty trolley-load of documents related to the United States versus Samuel Bankman-Fried, aka the “wunderkind” Sam Bankman-Fried, aka SBF.

The mega-case will see the co-founder of collapsed cryptocurrency platform FTX face charges of seven counts of fraud and money laundering, to which he has pleaded not guilty.

Since his arrest, Bankman-Fried has sought to blame losses on other participants in his bankrupt empire, including former business partner and on-and-off ex-girlfriend Caroline Ellison.

But SBF’s defence lawyers have their work cut out for them, not least because Ellison and three other former high-level associates have pleaded guilty in co-operation with prosecutors and are now set to testify against him. The wunderkind didn’t think that one through, did he?

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In numbers: Dish debris

$150,000

Sum that US satellite television company Dish Network has been fined by the US Federal Communications Commission for failing to move an old satellite far enough away from others in use. This is the first ever fine for space junk.

300km

Distance that Dish was meant to move its EchoStar-7 satellite on completion of its mission as part of an orbital debris mitigation plan, effectively sending it into a “graveyard orbit” where it would not pose a risk to other objects.

122km

Distance from its original station where the satellite, which was low on propellant, ended up, becoming one of the estimated 25,000 pieces of space debris of more than 10cm long now orbiting Earth.

Getting to know: Easy Life

U2 did Vegas. Toploader did the, er, Conservative Party conference. But band of the week was Easy Life, a Leicester indie five-piece that formed in 2017 and are now being sued by easyGroup.

The owner of easyJet‘s brand name has accused the band of being “brand thieves” by infringing on the rights of Easylife, an online household and garden goods retailer that licenses its name from easyGroup. The company has a history of being aggressive about protecting its rights to the “easy” name and lists various legal victories on its website, where it charmingly suggests “some people think they can make a fast buck”.

In the music business, where fast bucks are all too elusive, this came as a surprise to Easy Life, who wrote on X that they were now being forced to either change their name or embark on a legal battle with a massive corporation they could never afford. The band then apologised to any confused fans who thought they were buying Easy Life gig tickets but instead ended up on a budget flight to Tenerife.

The list: Tory shop

In between listening to supercilious, reality-challenged speeches, attendees of the Conservative Party conference in Manchester could support the doomed cause of re-election by buying some Tory merchandise. What delights were on sale?

1. Keir Starmer flip-flops: These Labour-red Starmer-emblazoned flip flops, priced at £16.99 (€19.60), are meant to symbolise the “rudderless leadership” of the UK opposition, but are actually quite fetching.

2. Christmas jumper: Likewise, this reindeer-patterned effort in Conservative blue is a steal at £24.95, though the Margaret Thatcher-themed version for the same price is perhaps a touch more niche.

3. Thatcher Christmas baubles: Getting into true blue territory here with this set of two tree decorations, priced at £18.99. One bears a cartoon image of Maggie, the other says “no, no, no, ho, ho, ho!”

4. Socks: These blue one-size-fits-all numbers with a price tag of £12 are patterned with the oak tree used in the Conservative logo. If you buy online, you can get 10 per cent off your first purchase. Anyone?

5. Winston Churchill range: Churchill nostalgists can buy or be gifted a mug (£14.99), a tote bag (£12.99) and/or a drinks bottle (£16.95). It’s what he would have wanted, etc.