Sam Bankman-Fried, founder and former chief executive officer of bankrupt cryptocurrency exchange FTX, was arrested yesterday in the Bahamas at the request of the US government. He is expected to be extradited to the US, while his arrest charges are expected to be unsealed today, according to the US Attorney for the Southern District of New York (see statement via Twitter).
Bankman-Fried is under criminal investigation by US and Bahamian authorities following FTX\'s collapse last month. FTX, once valued at $32B, is headquartered in the Bahamas, where Bankman-Fried also resides. The one-time cryptocurrency billionaire\'s arrest comes a day before he was set to testify in front of Congress, along with the company\'s new CEO, John Ray III (10 am ET, see here), who oversaw Enron\'s 2001 bankruptcy.
FTX filed for bankruptcy following a report that it had lent and lost billions in customer deposits to its sister investor trading firm, Alameda Research. FTX and its affiliates have about $1.24B in cash balances but owe $3.1B to its largest 50 creditors. Read about FTX\'s balance sheet here. |
Peruvian President Dina Boluarte yesterday proposed the country should move up its general elections two years to April 2024 amid nationwide protests, which have left at least four people dead, key roads blockaded, and an airport obstructed.
The protests are primarily in support of Boluarte\'s predecessor Pedro Castillo—a former schoolteacher-turned-politician who was ousted and arrested last week after an attempt to dissolve the opposition-controlled Congress (see background). Protestors are demanding fresh elections for a new president and all members of Congress, the release of Castillo, and the resignation of Boluarte. Castillo\'s 17-month term as president included six investigations against him and three impeachment trials, among a power struggle with Congress.
The news follows years of political turmoil in the country. Boluarte also said she would propose constitutional reforms. Peru has had six presidents in the last five years, including three in a single week in 2020. |
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Pharmaceutical company Amgen Inc. agreed to buy rare disease drug manufacturer Horizon Therapeutics yesterday for close to $28B in cash at $116.50 a share, the largest US healthcare acquisition this year. The deal is expected to be complete by mid-2023.
Horizon\'s portfolio of rare disease therapies has seen significant revenue growth in recent quarters, promising a boost in cash flow for Amgen as it anticipates a drop in sales for several expiring patents. The 15-year-old Dublin-based company\'s flagship drug, Tepezza, has seen success against eye inflammation caused by thyroid eye disease, a diagnosis tens of thousands of Americans receive each year. Shares in Horizon jumped over 15% on the news.
Amgen beat out both Johnson & Johnson and Sanofi in a monthlong bidding competition for the fast-growing drug producer. It is Amgen\'s second acquisition since October when it purchased ChemoCentryx for $3.7B. |
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