Science & Environment
FTX’s Caroline Ellison reports to prison to begin 2-year sentence
Caroline Ellison, former chief executive officer of Alameda Research LLC, arrives at court in New York, US, on Tuesday, Sept. 24, 2024.
Michael Nagle | Bloomberg | Getty Images
Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, reported to a low-security federal prison in Connecticut on Thursday, according to a spokesman for the Bureau of Prisons.
In September, Ellison was sentenced to two years in prison and ordered to forfeit $11 billion for her role in the massive fraud and conspiracy that doomed the cryptocurrency exchange once valued at $32 billion.
The federal Probation Department had recommended that Judge Lewis Kaplan sentence Ellison to three years of supervised release, with no time behind bars. Defense lawyers also had requested a punishment that didn’t include prison time.
While Kaplan praised Ellison for her extensive cooperation with prosecutors — which led to the conviction of Bankman-Fried — the judge said her criminal sentence needed to deter other potential bad actors from committing fraud.
Ellison ran Alameda Research, which was a sister hedge fund of FTX. She was also romantically involved with Bankman-Fried.
Alameda received much of the $8 billion in customer funds looted by Bankman-Fried from FTX. The stolen money was used for Alameda’s trading operation and other purposes.
Ellison reached a plea deal with prosecutors in December 2022, a month after FTX spiraled into bankruptcy. She pleaded guilty to conspiracy and financial fraud charges.
Kaplan called FTX the greatest financial fraud perpetrated in the history of the U.S., and told the court in Manhattan during the sentencing that a “literal get-out-of-jail-free card I can’t agree to.”
“I’ve seen a lot of cooperators over the years and I’ve never seen one quite like Miss Ellison,” said Kaplan, who also said he believed that Ellison was genuinely remorseful for her crimes and that her cooperation carried a steep price for her emotionally.
Late last month, Former FTX executive Nishad Singh was sentenced to time served and three years of supervised release, becoming the fourth ex-employee of the collapsed crypto exchange to be punished.
At her sentencing, Ellison read from a statement in a shaky voice while crying at times as she apologized to the people she had hurt and said she was deeply ashamed. She also said she was sorry for not being brave enough to walk away from FTX and Bankman-Fried.
Kaplan allowed Ellison to remain free on bail until surrendering to prison either on or after Nov. 7.
Bankman-Fried chose to stand trial and was convicted of all seven criminal fraud charges against him. He was sentenced to 25 years in prison in March and also was ordered to pay $11 billion in forfeiture by Kaplan.
Both Bankman-Fried and Ellison had faced the same statutory maximum sentence of about 110 years in prison for their crimes.
WATCH: FTX founder Sam Bankman-Fried appeals fraud conviction
Science & Environment
New DNA evidence at Pompeii reveals surprises about identities of Vesuvius eruption victims
When a volcanic eruption buried the ancient city of Pompeii, the last desperate moments of its citizens were preserved in stone for centuries.
Observers see stories in the plaster casts later made of their bodies, like a mother holding a child and two women embracing as they die.
But new DNA evidence suggests things were not as they seem — and these prevailing interpretations come from looking at the ancient world through modern eyes.
“We were able to disprove or challenge some of the previous narratives built upon how these individuals were kind of found in relation to each other,” said Alissa Mittnik of the Max Planck Institute for Evolutionary Anthropology in Germany. “It opens up different interpretations for who these people might have been.”
Mittnik and her colleagues discovered that the person thought to be a mother was actually a man unrelated to the child. And at least one of the two people locked in an embrace — long assumed to be sisters or a mother and daughter – was a man. Their research was published Thursday in the journal Current Biology.
The team, which also includes scientists from Harvard University and the University of Florence in Italy, relied on genetic material preserved for nearly two millennia. After Mount Vesuvius erupted and destroyed the Roman city in 79 A.D., bodies buried in mud and ash eventually decomposed, leaving spaces where they used to be. Casts were created from the voids in the late 1800s.
Researchers focused on 14 casts undergoing restoration, extracting DNA from the fragmented skeletal remains that mixed with them. They hoped to determine the sex, ancestry and genetic relationships between the victims.
There were several surprises in “the house of the golden bracelet,” the dwelling where the assumed mother and child were found. The adult wore an intricate piece of jewelry, for which the house was named, reinforcing the impression that the victim was a woman. Nearby were the bodies of another adult and child thought to be the rest of their nuclear family.
DNA evidence showed the four were male and not related to one another, clearly showing “the story that was long spun around these individuals” was wrong, Mittnik said.
Researchers also confirmed Pompeii citizens came from diverse backgrounds but mainly descended from eastern Mediterranean immigrants – underscoring a broad pattern of movement and cultural exchange in the Roman Empire. Pompeii is located about 150 miles (241 kilometers) from Rome.
The study builds upon research from 2022 when scientists sequenced the genome of a Pompeii victim for the first time and confirmed the possibility of retrieving ancient DNA from the human remains that still exist.
“They have a better overview of what’s happening in Pompeii because they analyzed different samples,” said Gabriele Scorrano of the University of Rome Tor Vergata, a co-author of that research who was not involved in the current study. “We actually had one genome, one sample, one shot.”
Though much remains to be learned, Scorrano said, such genetic brushstrokes are slowly painting a truer picture of how people lived in the distant past.
In August, archaeologists at Pompeii announced they had unearthed the remains of two more victims — a man and a woman discovered inside what was likely the bedroom of their home, where they’d become trapped as the rest of the structure filled with debris. The woman was found on the bed with a collection of gold, silver and bronze coins, as well as a pair of gold earrings, a pair of pearl earrings and other jewelry.
Earlier this year, three researchers won a $700,000 prize for using artificial intelligence to read a 2,000-year-old scroll that was scorched in the Vesuvius eruption.
The Herculaneum papyri consist of about 800 rolled-up Greek scrolls that were carbonized during the 79 CE volcanic eruption that buried the ancient Roman town, according to the organizers of the “Vesuvius Challenge.”
The scroll’s author was “probably Epicurean philosopher Philodemus,” writing “about music, food, and how to enjoy life’s pleasures,” wrote contest organizer Nat Friedman on social media.
The scrolls were found in a villa thought to be previously owned by Julius Caesar’s patrician father-in-law, whose mostly unexcavated property held a library that could contain thousands more manuscripts.
Science & Environment
One solar stock to buy after Trump’s win hit the sector, analysts say
Science & Environment
Trump’s victory could disrupt energy sector. These stocks are likely winners and losers
Science & Environment
Trump victory a blow to climate action, experts say
Donald Trump’s return to the White House will have a hugely negative effect on climate change action in the short-term but the longer term impact is less certain, experts say.
With world leaders meeting next week for the latest UN climate talks, COP29, the Trump victory will be seen as a huge roadblock to progress in both cutting emissions and raising cash for developing countries.
The US president-elect is a known climate sceptic who has called efforts to boost green energy a “scam”.
But with renewable energy gaining a strong foothold in the US and popular support for wind and solar, Trump’s efforts to ramp up oil and gas instead may be less effective.
While climate change did not play much of a role in this year’s campaign, Trump’s likely actions in office this time could be far more significant than in 2017.
Back then, he announced the US would pull out of the Paris climate agreement, the most important UN process to tackle climate change. The agreement saw almost all the world’s nations – for the first time – agree to cut the greenhouse gas emissions which cause global warming.
But the shock of Trump’s decision was limited. The treaty’s rules meant the US was not able to withdraw until November 2020, a few months before he left office.
If Trump withdraws again, he will only have to wait a year before the US is completely out. That would give him three years to chart his own course without any need to report to the UN or be bound by its rules.
While President Joe Biden’s negotiators will be at next week’s COP talks in Azerbaijan, nothing they agree to will be binding for the Trump administration.
“The US at this COP is not just a lame duck, it’s a dead duck,” said Prof Richard Klein, an expert on climate change policy for the Stockholm Environment Institute.
“They can’t commit to anything and that means that countries like China will not want to commit to anything.”
In recent years, richer countries such as the US, UK and EU states have tried to increase the funds available for developing countries to cope with climate change. But they also insist that big developing economies also contribute.
“The US basically wanted to have China cough up some money for that fund as well. Now they won’t be able to do that. That leaves China off the hook,” Prof Klein said.
Climate scientists say developing countries need billions of dollars of extra investment to become net zero, where they are not contributing to climate change, and stave off the effects of rising temperatures.
While the US might leave the Paris Agreement quite quickly, Trump would still be bound by other global efforts to fight climate change.
There have been reports that some of his supporters also want to turn their backs on these as well. Some have argued for a complete break from UN efforts on climate change, urging the president-elect to leave something called the UN Framework Convention on Climate Change, the treaty that underpins global collective action to tackle climate change.
This was ratified by the US Senate, almost unanimously, in 1992. Legal experts are unclear on the process of leaving the treaty, but any effort by the US to leave would be seen as a body blow to the principle of multi-lateral action to tackle the world’s greatest threat.
As well as these headline-grabbing international actions, the new Trump administration is likely to push for a major ramp up of oil and gas exploration within the US, roll back environmental protections as well as impose heavy tariffs on electric vehicles and solar panels coming from China.
“You are looking at, overall, a ‘drill baby drill’ philosophy,” Dan Eberhart, chief executive officer of oilfield services company Canary LLC told Bloomberg News.
“You are going to see offshore lease sales, you are going to see pipelines move much quicker, you are going to see fracking on federal lands and a mindset that is focused on lowering energy costs for consumers.”
There was a big drop in the share price of turbine manufacturers on Wednesday, as fears grew that US offshore wind farms would be cancelled by a Trump presidency.
But in the longer term, it is not clear if the new president will turn back the clock for coal, oil and gas, or curtail the growth of sustainable energy sources.
For a start he faces opposition – and notably from within his own party.
Biden’s Inflation Reduction Act, which may ultimately channel $1 trillion of spending into green energy, has been hugely beneficial to Republican districts.
According to one analysis, some 85% of the money has been in areas that elected Republicans.
With energy watchdog the International Energy Agency reporting that global investment in clean technology is running at double the size of coal, oil and gas in 2024, the new US administration might not want to drive this type of green investment into other, more eager countries.
Climate leaders are putting a lot of faith in the fact that the transition to green energy will not be derailed by the new Trump administration.
“The result from this election will be seen as a major blow to global climate action,” said Christiana Figueres, the former UN climate chief.
“But it cannot and will not halt the changes under way to decarbonise the economy and meet the goals of the Paris agreement.”
Science & Environment
2024 ‘virtually certain’ to be world’s warmest year on record
It is now “virtually certain” that 2024 – a year punctuated by intense heatwaves and deadly storms – will be the world’s warmest on record, according to projections by the European climate service.
Global average temperatures across the year are on track to end up more than 1.5C above pre-industrial levels, which would make 2024 the first calendar year to breach this symbolic mark.
These high temperatures are mainly down to human-caused climate change, with smaller contributions from natural factors such as the El Niño weather pattern.
Scientists say this should act as an alarm call ahead of next week’s UN climate conference in Azerbaijan, COP29.
“This latest record sends another stark warning to governments at COP29 of the urgent need for action to limit any further warming,” says Liz Bentley, chief executive of the Royal Meteorological Society.
Global temperatures have been so high through the first 10 months of 2024 that only an implausibly sharp drop in the final two months would prevent a new record from being set.
In fact, it is likely that 2024 will end up at least 1.55C hotter than pre-industrial times, according to data from the European Copernicus Climate Change Service.
“Pre-industrial” refers to the benchmark period of 1850-1900, which roughly equates to the time before humans started significantly heating up the planet, for example by burning large amounts of fossil fuels.
The projection means that 2024 could surpass the current record of 1.48C, which was set only last year.
“This marks a new milestone in global temperature records,” says Samantha Burgess, deputy director of Copernicus.
This would also represent the first time that a calendar year has passed 1.5C of warming, according to Copernicus data.
This would be symbolic, because almost 200 countries pledged to try to limit long-term temperature rises to that level under the Paris climate agreement in 2015, hoping to avoid some of the worst impacts of climate change.
If the 1.5C limit is breached, that does not mean the Paris goal has been broken, because it refers to average temperatures over a period of 20 years or so, in order to smooth out natural variability.
But every year-long breach brings the world closer to passing the 1.5C mark in the longer term. Last month, the UN warned that the world could warm by more than 3C this century based on current policies.
The specifics of 2024 also offer cause for concern.
Early 2024 warmth was boosted by the natural El Niño weather pattern. This is where surface waters in the east tropical Pacific Ocean are warmer than usual, which releases extra heat into the atmosphere.
This latest El Niño phase began in mid-2023 and ended around April 2024, but temperatures have remained stubbornly high since.
Over the past week, global average temperatures have set new records for the time of year every day, according to Copernicus data.
Many scientists expect the opposite, cooler phase, La Niña, to develop soon. This should, in theory, lead to a temporary drop in global temperatures next year, although exactly how this will play out is uncertain.
“We will watch with interest what happens going into 2025 and beyond,” says Ed Hawkins, professor of climate science at the University of Reading.
But, with levels of greenhouse gases in the atmosphere still rising quickly, scientists warn it is likely only a matter of time before new records are set.
“The warmer temperatures [are making] storms more intense, heatwaves hotter and heavy rainfall more extreme, with clearly seen consequences for people all around the world,” says Prof Hawkins.
“Stabilising global temperatures by reaching net zero emissions is the only way to stop adding to the costs of these disasters.”
Science & Environment
Prince William announces winners in Cape Town
The Prince of Wales has said he wants his environmental Earthshot prize to “change the world for good” over the next decade as he celebrated this year’s winners.
Prince William closed the awards ceremony in Cape Town by calling for people around the world to join the “movement for change”.
Models Heidi Klum and Winnie Harlow, actor Nina Dobrev and artist Tobe Nwigwe announced the £1m ($1.2m) prize winners from each category at the event.
The recipients included an initiative that saved a rare antelope species from extinction and a Kenyan company that uses solar powered fridges to stop harvested crops spoiling.
The fourth edition of the Prince’s annual Earthshot Prize awards was hosted by Emmy-winning actor Billy Porter and TV presenter Bonang Matheba.
It supports sustainable, eco-friendly projects from around the world, with each of the five winners receiving £1m to scale-up their innovative ideas to “repair” the planet.
There are five ‘Earthshots’ – or goals: Protect and Restore Nature; Clean Our Air; Revive Our Oceans; Build a Waste-free World; and Fix Our Climate.
Fifteen finalists, from countries including France, Kenya, Indonesia, the UK and Nepal, were competing for their category’s prize pot after being whittled down from 2,500 applicants.
Earthshot Prize 2024 – Full list of winners
- Clean Our Air: Green Africa Youth Organization, who use behavioural change to help communities clean up waste and build circular waste management infrastructure across Africa
- Build a Waste-free World: Keep IT Cool, a Kenyan-based company using solar powered refrigeration to help cut harvest waste for farmers
- Fix Our Climate: Advanced Thermovoltaic Systems, an American company that convert excess heat, produced during the making of steel or cement, into electricity
Earlier on Wednesday, the prince praised his wife the Princess of Wales, who is recovering after treatment for cancer, saying she has been “amazing this whole year”.
His wife had not travelled to South Africa and would watch the ceremony at home in Windsor, he said.
“I know she’ll be really keen to see tonight be a success,” he added.
All 2,000 attendees were asked to wear sustainable clothes – either made from recycled materials or a previously worn outfit – and on arrival a host of global stars, made their way down the “green carpet” instead of a traditional red one.
And the prince was no exception, dressed in a second-hand double-breasted Prince of Wales check jacket and white plastic-free fully biodegradable shoes.
Dubbed the prince’s “Super Bowl” moment, the awards were broadcast live across Africa and streamed online. In his closing remarks, the prince said he believed the world could be “rich in possibility, in hope, and in optimism”.
“Our aim was to find solutions to repair our planet and provide real hope for the future.
“We want to make this the decade in which we transform the world for good, one solution at a time, from the ground up,” he said.
When asked earlier about achieving the prize’s green goals in a tough political climate, the prince was positive.
“Everyone wants some hope and some optimism and Earthshot comes with urgent optimism,” he said.
Co-host Harlow said she was honoured to be involved in the project, adding: “This should be something near and dear to everyone’s heart when it comes to taking care of Mother Earth.”
And Klum, who announced the Fix Our Climate category winner, said: “It’s great to spread the word and shine a light on these amazing organisations and what they do.”
What is the Earthshot Prize?
Organisers of the Earthshot Prize, which was first awarded in 2021, say they were inspired by former US president John F Kennedy’s Moonshot project, which set scientists the challenge of getting astronauts to the moon and back safely.
The aim of the awards, organisers say, is to celebrate and support those working to provide innovative solutions for climate and environmental issues.
There was a focus on ideas from Africa for this year’s Earthshot Prize, with more than 400 African-led projects nominated and another 350 linked to the continent.
Although Africa generates the fewest emissions for global warming, many of its countries are among the most vulnerable to climate change.
As he spoke of his deep connection to Africa last week, Prince William said he wanted this year’s prize to provide a platform for innovators to bring about change for their communities and inspire young people across the continent.
“Africa has always held a special place in my heart – as somewhere I found comfort as a teenager, and where I proposed to my wife,” he said.
Much of the prince’s visit to Cape Town has focused on young people and the power they have to bring about change.
“Without them the future is looking pretty bleak so these are the game-changers, the innovators, the inventors who are going to make the world a better place for us in future,” he said.
A recent UN report warned that the goals of the Paris agreement to keep global temperatures under 2C while making efforts to stay below 1.5C are now in very serious danger.
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