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FTX founder Sam Bankman-Fried insists he is innocent, wants Trump pardon

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FTX founder Sam Bankman-Fried insists he is innocent, wants Trump pardon

Sam Bankman-Fried, the former cryptocurrency billionaire serving a 25-year sentence for fraud tied to the 2022 collapse of his FTX exchange, says he would welcome a pardon from President Donald Trump — but insists he has not lobbied the White House for one.

“It would be obviously, you know, ultimately up to the president, not up to me,” Bankman-Fried told FOX Business in an exclusive interview from prison. Asked directly whether he wanted a pardon, he didn’t hesitate: “Absolutely.”

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The FTX founder said he has not personally been in contact with the White House or anyone connected to the president. Asked whether his parents or others had reached out on his behalf, he said, “I can’t speak for them.”

FOX Business has reviewed a pardon application filed on Bankman-Fried’s behalf. As it stands, the application seeks clemency only after he finishes serving his sentence.

DEAL-MAKING CLEMENCY: INSIDE TRUMP’S MOST DISPUTED PARDONS OF 2025

Sam Bankman-Fried court New York

Sam Bankman-Fried leaves Federal Court court in New York, on Jan. 3, 2023. The former cryptocurrency billionaire says he would welcome a pardon from President Trump. (Fatih Aktas/Anadolu Agency via Getty Images / Getty Images)

The White House, asked for comment, directed FOX Business back to the president’s previous statements that he was not considering a pardon for Bankman-Fried.

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‘I didn’t steal user funds’

More than three years after his arrest, Bankman-Fried continues to insist he is innocent. He is appealing his conviction, with a decision pending before the Second Circuit Court of Appeals.

“I didn’t steal user funds,” he said. “Customers have been repaid now 170% or so on their deposits. It’s one of the very few cases where the platform was over-collateralized, where customers were more than made whole. And yet there was, you know, not just a criminal investigation, but a prosecution. And, you know, dozens of years of sentence.”

TRUMP CRYPTO CHIEF SAYS WE ARE IN THE ‘GOLDEN AGE’ FOR DIGITAL ASSETS, ‘CLEARING THE DECK’ OF BIDEN BARRIERS

Those assertions require context. Bankman-Fried was convicted in 2023 on seven counts — including wire fraud and conspiracy to commit money laundering — for diverting billions of dollars in FTX customer funds, and was sentenced to 25 years in 2024.

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FTX Sam Bankman-Fried Court

Sam Bankman-Fried leaves Federal Court in New York City on Thursday, December 22, 2022. The former CEO of FTX and Alameda is serving a 25-year sentence for fraud. (Charles Guerin/Abaca for Fox News Digital / Fox News)

The FTX bankruptcy estate has said customers are being repaid in full, with reported recoveries of roughly 118% and higher for some classes of claims. But those repayments were calculated using cryptocurrency prices from November 2022, when the market was near its lows. Customers received cash based on those depressed values rather than their original crypto, and did not capture the market’s subsequent rebound. The estate’s reported recovery figures are also lower than the 170% Bankman-Fried cited.

“Ultimately, customers have been repaid again nearly twice what they had on the platform, and it’s a great disservice to them that it has taken three years,” he added.

A divided reaction

The question of clemency has split those who followed the FTX collapse.

Adam Moskowitz, an attorney who represented FTX victims, told FOX Business he would not stand in the way. “I would not oppose granting Sam a pardon,” he said, noting that as co-lead counsel for hundreds of thousands of FTX victims, “one of the first defendants to offer to help out victims was Mr. Bankman-Fried.”

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SAM BANKMAN-FRIED SAYS HE ‘ABSOLUTELY’ WANTS A PRESIDENTIAL PARDON FROM INSIDE HIS FEDERAL PRISON CELL

Sam Bankman-Fried, CEO of FTX US Derivatives, testifies on Capitol Hill in May 2022

From right, Terrence A. Duffy, CEO of the Chicago Mercantile Exchange, Sam Bankman-Fried, CEO of FTX US Derivatives, Christopher Edmonds, chief development officer of the Intercontinental Exchange, and Christopher Perkins, president of CoinFund, test (Tom Williams/CQ-Roll Call, Inc via Getty Images / Getty Images)

Others are firmly opposed. Sen. Bernie Moreno, R-Ohio, who sits on the Senate Banking Committee, told Politico that Bankman-Fried “shouldn’t be pardoned” and “should go to jail for a long, long time.”

Life behind bars — and a shout-out from Drake

Bankman-Fried described a prison routine of reading, exercise and “other boring activities.” “I’ve read a number of books since I’ve been in prison,” he said. “You know, I exercise some. Obviously, there’s sleep, shower … daily things like that. And frankly, that’s the bulk of it.”

He has also picked up an unlikely supporter. On his new album “Iceman,” rapper Drake name-checks Bankman-Fried in a lyric that fans have read as a call to free the imprisoned founder.

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Bankman-Fried said he was caught off guard. “I’m very flattered. I appreciate it very much,” he said. “Obviously Drake gives some clues in the song itself, but … that’s a question. Unfortunately, I don’t know how to answer for him.”

The two, Bankman-Fried said, have never met.

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Moderna’s Lynch syndrome cancer vaccine trial gets UK approval

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Moderna’s Lynch syndrome cancer vaccine trial gets UK approval

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Could humanoid robots be heading for the battlefield?

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Could humanoid robots be heading for the battlefield?

Armed forces are experimenting with humanoid robots, but battlefield deployment is some way off.

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LARRY KUDLOW: Trump has never ruled out military action, which now looks more likely

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LARRY KUDLOW: Trump has never ruled out military action, which now looks more likely

As the President patiently works toward a possible surrender deal with Iran, keep in mind two important points: one is no other president in modern history is willing to take on militarily and economically the radical Muslim regime that controls the Iranian government.

Iran has been our enemy for nearly 50 years, they’ve done great harm to us, to Israel, to our allies in the Middle East and elsewhere. They have killed roughly 1,000 American soldiers. They have financed terror attacks that remind of Nazism almost 100 years ago. And in return they declare their hatred for America. They have become a nuclear threat not only with enriched uranium, but also advanced missile development. And Mr. Trump has destroyed them militarily.

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The Islamic Revolutionary Guard Corps may have some remaining military resources, but not much. At least 80 percent is gone, and it’ll probably take as much as 20 years or more to restart.

In crippling Iran, Mr. Trump has done humanity a great favor. The second point is during this negotiating process, he Trump has not budged on his red lines. You heard it again in his interviews yesterday on Sunday talk shows. He has not dropped his demand that Iran end all nuclear development. He has not dropped his demand that Iran’s enriched uranium be transferred into American hands or destroyed altogether. He insists that Iran completely open the Strait of Hormuz to free navigation with no controls or tolls whatsoever. And in addition, he has made it clear that no money or financial assistance will be given to Iran.

Asked on Sunday by a reporter whether he would “unfreeze any Iranian assets or lift any sanctions up front as a part of any deal,” Mr. Trump replied: “No.” “So that would come after?” the reporter asked.  Mr. Trump’s response: “Comes after. Yeah. If they behave, if they do their job we stop talking. Yeah.” 

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There’s no $12 billion or $24 billion or $124 billion or other wild Iranian asset estimates for the IRGC. Instead, there’s Treasury Secretary Scott Bessent’s Economic Fury, which includes the naval blockade plus highly aggressive sanctions imposed by the Office of Foreign Asset Control, where all manner of cryptocurrency, offshore bank accounts, villas, or whatever Iranian assets have been either frozen or completely seized.

Mr. Bessent now wants to liquidate those offshore IRGC assets and use them to rebuild our gulf Allies. Good for him. Excellent idea. This is basically economic and financial starvation that is backing up the crushing military blow. Mr. Trump has not ruled out any additional military action. and he has never backed down. Iran may never surrender, but they’ll wish they had.

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Buy the Data Center and HVAC Infrastructure Leader

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Tim Cook

NEW YORK — Comfort Systems USA Inc. (NYSE: FIX) has positioned itself as a major beneficiary of the artificial intelligence infrastructure boom and broader non-residential construction spending in 2026, delivering exceptional earnings growth and strong backlog expansion that support a bullish long-term outlook.

As of early June 2026, shares trade around $480 after a substantial year-to-date rally. The mechanical contractor and building services provider has been a standout performer, driven by surging demand for HVAC, electrical and plumbing systems in hyperscale data centers, semiconductor manufacturing facilities and other high-tech projects.

Comfort Systems reported robust first-quarter 2026 results, with revenue increasing significantly year-over-year and earnings per share beating expectations. The company highlighted strong backlog growth, particularly in data center and technology-related projects, as hyperscalers accelerate AI infrastructure buildouts. Management raised full-year guidance, citing sustained momentum in key end markets and operational efficiencies.

Analysts are overwhelmingly bullish. Multiple firms have raised price targets following recent earnings reports, with some reaching as high as $650. Consensus leans toward Strong Buy, with recent upgrades emphasizing Comfort Systems’ exposure to secular growth trends in data centers and its proven execution capabilities.

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The bullish case for buying Comfort Systems centers on its leadership in mechanical contracting for mission-critical facilities. As AI and cloud computing drive unprecedented demand for power, cooling and infrastructure, the company’s expertise in designing and installing complex HVAC and related systems makes it a preferred partner for data center developers and general contractors. Its national footprint and established relationships provide a competitive advantage in securing large-scale projects.

Beyond data centers, Comfort Systems benefits from industrial manufacturing expansion, semiconductor plant construction and general commercial building activity. The company’s diversified end-market exposure reduces reliance on any single sector while capitalizing on multiple growth drivers, including reshoring trends and energy efficiency initiatives.

Comfort Systems maintains a strong balance sheet with solid cash flow generation, supporting organic growth, strategic acquisitions and shareholder returns through dividends. The company has a track record of disciplined capital allocation and successful integration of acquired businesses, enhancing its service offerings and geographic reach.

Risks for potential buyers include valuation that has expanded with recent gains, potential cyclical slowdowns in construction spending and labor or supply chain constraints in a hot market. The stock’s recent performance leaves limited margin for error if project delays or cost pressures emerge.

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For sellers or those on the sidelines, near-term volatility tied to broader industrial and construction sector movements warrants caution. While fundamentals are strong, elevated multiples reflect high expectations that could lead to pullbacks on any softening in data center spending.

Investment decisions in 2026 hinge on several factors. Sustained AI infrastructure investment by hyperscalers supports a constructive view. Comfort Systems’ exposure to traditional commercial and industrial markets provides additional diversification. Strong backlog and raised guidance reinforce confidence in near-term performance.

Broader market context favors infrastructure and industrial plays like Comfort Systems. Rising data center power and cooling demands create multi-year opportunities, while reshoring and manufacturing investments add tailwinds. However, investors must monitor interest rates, labor availability and potential economic slowdowns.

Analyst sentiment has improved with recent earnings strength and upward revisions. Institutional ownership remains healthy, reflecting confidence among sophisticated investors. The company’s ability to deliver on ambitious targets while navigating supply and labor constraints will be key.

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For growth-oriented investors comfortable with industrial cyclicality, selective buying on weakness may appeal. Conservative portfolios might prefer smaller positions or waiting for clearer confirmation of sustained data center demand. Diversification across infrastructure and industrial holdings can help manage company-specific risks.

Comfort Systems’ long history of mechanical contracting excellence positions it well for evolving industry needs. From traditional HVAC installations to complex mission-critical systems for data centers, the company continues adapting while maintaining strong customer relationships and operational discipline.

As the year progresses, upcoming quarterly results, project updates and industry conferences will serve as important catalysts. Comfort Systems’ execution on backlog conversion and ability to scale in a high-demand environment will be closely watched.

The company continues investing in talent, technology and safety initiatives to support growth. Its focus on employee development and operational excellence has been a key factor in its ability to handle increasingly complex projects.

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For retail investors, Comfort Systems offers an accessible way to participate in the data center and industrial construction boom. Its business model benefits from secular trends in technology infrastructure and manufacturing reshoring, making it a compelling infrastructure play.

Monday’s trading reflected continued positive sentiment but also highlighted the stock’s sensitivity to broader market moves. The gain fits within the context of strong recent performance driven by data center tailwinds.

As a leading mechanical contractor, Comfort Systems plays a vital role in enabling the infrastructure that powers the modern digital economy. Its solutions support everything from data centers to advanced manufacturing facilities, contributing to technological progress and economic growth.

Investors evaluating Comfort Systems should conduct thorough due diligence, consider individual risk tolerance and maintain a long-term perspective. The company’s track record of execution and value creation through industry cycles supports optimism for continued success in the data center and infrastructure boom.

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Overall, Comfort Systems remains a compelling growth story with significant competitive advantages. While risks around valuation, labor and cyclical construction spending persist, its exposure to high-growth markets, strong backlog and operational excellence make it an attractive consideration for investors seeking participation in the critical infrastructure enabling AI and technological advancement.

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OpenAI plans to go public, intensifying investment race with Anthropic

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OpenAI plans to go public, intensifying investment race with Anthropic

The company behind ChatGPT filed its plans one week after Anthropic did the same.

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Wendy’s unveils Minions and Monsters meals, toys ahead of July movie

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Wendy's unveils Minions and Monsters meals, toys ahead of July movie

Wendy’s on Monday announced it will be offering a custom Minions & Monsters meal starting later this month that includes limited-time meals and exclusive collectible toys.

The fast food chain’s new promotion will spotlight Illumination’s Monsters and Minions with the limited-time offerings starting on June 15, ahead of the movie’s arrival in theaters on July 1.

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It features themed meals for both children and adults, as well as an all-new Banana Frosty Swirl with a sweet banana cream sauce swirled into a Vanilla Frosty base.

WENDY’S TO CLOSE HUNDREDS OF RESTAURANTS AS COMPANY LOOKS TO FOCUS ON VALUE TO BOOST SALES

The Wendy's Minions & Monsters meal

Wendy’s is offering special Minions & Monsters meals and collectibles. (Courtesy of Wendy’s / Fox News)

“The best partnerships start with an understanding of what our fans are passionate about,” said Lindsay Radkoski, U.S. chief marketing officer for The Wendy’s Company.

She added that, “By bringing together one of the world’s most beloved entertainment franchises with Wendy’s iconic, high-quality food and customers love, we’re creating shared experiences that fans will go bananas for this summer!” 

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WENDY’S $100K ‘CHIEF TASTING OFFICER’ CONTEST SPARKS HILARIOUS FAST-FOOD SOCIAL MEDIA SPAT

Ticker Security Last Change Change %
WEN THE WENDY’S CO. 6.74 +0.03 +0.45%

Wendy’s Monsters & Minions adult meal will include the choice of a Big Bacon Classic or a new Spicy Chicken Sandwich, plus a small order of fries and a small Banana Frosty Swirl. It will also contain one of four Wendy’s exclusive Minions & Monsters blind box collectibles.

Both the new Frosty and the Monsters & Minions adult meal will be available starting on June 15.

WENDY’S INTRODUCES NEW VALUE MENU WITH 3 PRICE TIERS

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Wendy's Minions & Monsters adult collectibles

The four Minions & Monsters collectibles in the Wendy’s adult meals. (Courtesy of Wendy’s / Fox News)

The Minions & Monsters kids’ meal is available now and offers the choice of 2-piece chicken tenders, 4-piece chicken nuggets, a hamburger or a cheeseburger. 

It includes a kid’s drink and either a junior-size order of fries or apple bites and one of six exclusive Wendy’s Monsters & Minions kids’ meal toys that feature the characters James, Henry, Ed, Richard Goomi and Dort.

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Wendy’s will also feature two new Coca-Cola Freestyle beverages as part of the Minions & Monsters campaign – a Pineapple Minion MischieFizz and Goomi’s Glimey Lime.

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Consolidated Lithium signs term sheet to acquire Quebec lithium project

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Consolidated Lithium signs term sheet to acquire Quebec lithium project

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Stock Funds Are Up 11.5% as Tech Rally Drives Market Turnaround

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Stock Funds Are Up 11.5% as Tech Rally Drives Market Turnaround

Earlier in the year, many fund investors thought double-digit gains for 2026 were a pipe dream. Suddenly, it’s reality.

A two-month stock rally powered by chip companies has helped the average U.S.-stock mutual fund or exchange-traded fund to a total return of 11.5% so far in 2026. The funds posted a total return of 4.4% in May, adding to the previous month’s 10.3% gain and pushing them into the double-digit status, according to statistics from

LSEG. (See Mutual-Fund Yardsticks table.)

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Form 13D/A Howard Hughes Holdings Inc. For: 8 June

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Form 13D/A Howard Hughes Holdings Inc. For: 8 June

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Former White House ‘AI czar’ warns overregulation could hand China AI lead

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Former White House 'AI czar' warns overregulation could hand China AI lead

Former White House “AI czar” David Sacks warned Monday that overregulation of artificial intelligence could erode America’s lead over China in the global race for AI dominance.

“If you try to have an FDA for AI and there are some people who want to go that far, then I think we could lose this AI race to China,” he said Monday on “Kudlow.” “We’re only six to nine months ahead of China. So really, every month counts.”

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His remarks come after President Donald Trump signed an executive order last week establishing a voluntary framework for AI companies to share certain advanced models with the federal government before wider public release.

Sacks, a longtime Silicon Valley entrepreneur, advocated for a lighter approach to AI regulation and cautioned that adding too many guardrails risks stifling innovation at a critical point in the competition with Beijing.

CHINA RACES AHEAD ON AI —TRUMP WARNS AMERICA CAN’T REGULATE ITSELF INTO DEFEAT

CHINA-US-DIPLOMACY

US President Donald Trump (L) shakes hands with China’s President Xi Jinping at the Great Hall of the People in Beijing on May 14, 2026.  (Kenny HOLSTON / POOL / AFP via Getty Images / Getty Images)

He likened Washington’s “tremendous” desire to regulate AI to that of climate change.

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“AI has become the new climate change,” he argued. “It’s this imminent catastrophe that is requiring all this government intervention. But there’s very little evidence to support it.”

“We’re open to evidence – if there’s actually a problem, we should do something about it. But I don’t think we should do it in this knee-jerk way,” he continued.

MORNING GLORY: WHY THE ANGST ABOUT AI?

While Sacks admitted that some frontier AI models – including Anthropic’s Mythos, which he described as an “at the level of a cyber weapon” – present serious cybersecurity concerns, he also cautioned against the “moral panic” surrounding emerging technology.

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“There is this panic, almost like a moral panic, around AI,” he told host Larry Kudlow. “And I’m just afraid that we might overreact and shoot ourselves in the foot and then hand this incredible technology to China.

White House AI czar David Sacks

David Sacks, White House Artificial Intelligence (AI) and Crypto czar, during The White House Digital Assets Summit in the State Dining Room of the White House in Washington, DC, US, on Friday, March 7, 2025. (Chris Kleponis/CNP/Bloomberg via Getty Images / Getty Images)

Sacks also pushed back on concerns that AI will take jobs from average Americans, pointing to recent labor market strength from a strong May jobs report.

PALANTIR’S SHYAM SANKAR: AMERICANS ARE ‘BEING LIED TO’ ABOUT AI JOB DISPLACEMENT FEARS

“There’s been a lot of claims that AI is gonna create some sort of imminent job apocalypse, but we’re seeing the exact opposite right now,” the former AI czar argued.

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“We just had this gangbuster jobs report in May, something like 172,000 new jobs, twice what all the economists were expecting, and a lot of that is because of AI.”

Sacks said a unified federal playbook for AI governance would be preferable to a patchwork, state-by-state regulations that have been guard railing the technology since its emergence.

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“What President Trump has called for is one rulebook. And I think if we can get that, if we work with Congress to work out a compromise, then that would be better than patchwork from the states,” he told FOX Business.

Trump is reportedly set to meet with executives from leading AI companies at the White House this week as the administration weighs its next steps on AI policy.

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