- GRIT
- Posts
- SBF: Sentence Showdown Looms
Good Morning!
Happy Thursday! Here’s what’s moving the markets today:
👉 SBF’s prison sentence
👉 Amazon makes huge investment
👉 SEC wins key decision
STOCK MARKET MADNESS IS ON 📈
Click HERE to view our bracket! 🏀 Let’s recap ROUND TWO! 🥊
We had another crazy round of upsets in our Stock Madness. Riot Blockchain took out Tesla with its second straight upset in back-to-back rounds. GameStop went down in typical March Madness fashion after beating Amazon in the previous round. Heading into the Sweet 16, we currently have FOUR Cinderella stories: Hertz, BlackBerry, AMC, and Tilray. All four stocks have a history of self-imploding, so it will be exciting to see what happens.
SBF: Prison Sentence
Prosecutors are seeking a 40 to 50-year prison sentence for Sam Bankman-Fried, the FTX founder, while his defense suggests a sentence about 90% shorter. He was convicted of seven charges related to the FTX collapse and the loss of $10 billion of customer funds. The case against Bankman-Fried focused on accusations that he misused FTX customer funds.
Source: Puck News
Meanwhile, FTX's new management has been making progress in recouping losses, already gathering over $7 billion. Bankman-Fried's lawyers argue for a lighter sentence of 5 to 6.5 years, highlighting his status as a first-time, nonviolent offender and pointing out the successful recovery efforts that could make customers whole.
🎯 GRIT TAKE: We are very interested …upgrade to VIP now for 50% off to read the full GRIT Take! 🏀
Amazon: Huge Investment
Amazon is investing $2.75 billion in Anthropic, a leading AI startup, marking its biggest investment to date. This move aims to strengthen Amazon's position in the competitive AI field. Anthropic, which competes with giants like OpenAI, has developed Claude, a chatbot rivaling ChatGPT.
Source: Amazon
Amazon's total commitment to Anthropic could reach up to $4 billion, securing a minority stake without board involvement. The investment follows Anthropic's introduction of its advanced AI models, promising to surpass competitors in performance. This collaboration aims to transform customer experiences with AI, building on Amazon's history of strategic tech investments.
SEC: Wins Key Decision
The SEC won a key decision in its lawsuit against Coinbase, allowing allegations of unregistered securities sales to go to trial. This caused Coinbase's shares to fall 2.5% after the court rejected their plea to dismiss the case.
Source: Crypto Times
The lawsuit accuses Coinbase of operating without proper registration. Judge Katherine Polk Failla ruled that despite the modern crypto context, the case fits within long-established securities frameworks. She dismissed part of the SEC’s claim regarding Coinbase's Wallet app but upheld the main allegations.
Headlines You Need To Know: 🎙
Chart of the Day
📊 Expectations For The Economy
Source: Bloomberg
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @memebitda
Do you have feedback to share? Click HERE.
Interested in being featured in our GRIT Newsletters? Click below!
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Grit publishes content through Beehiiv, an email newsletter platform and operates the websites Gritcap.io and Get-versed.io and and social media accounts (including but not limited to): Instagram, Twitter, Linkedin, TikTok, YouTube, SnapChat, Facebook and Threads. By accessing Grit’s content, you agree to be bound by the Terms of Use and Privacy Policy, in effect at the time you access this website or any page thereof or any of Grit’s content. The Terms of Use and Privacy Policy may be amended from time to time. Nothing on this website or Grit constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, any securities to any person in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such offer or solicitation. Grit is not an underwriter, broker-dealer, Title III crowdfunding portal or a valuation service and does not engage in any activities requiring any such registration. Grit does not provide advice on investments or structure transactions. Offerings made under Regulation A under the U.S. Securities Act of 1933, as amended (the "Securities Act") are available to U.S. investors ONLY who are “accredited investors” as defined by Rule 501 of Regulation D under the Securities Act well as non-accredited investors, who are subject to certain investment limitations as set forth in Regulation A under the Securities Act. In order to invest in Regulation A offerings, investors may be asked to fill out a certification and provide necessary documentation as proof of your income and/or net worth to verify that you are qualified to invest in offerings posted on this website. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. Grit does not verify the adequacy, accuracy or completeness of any information. Neither Grit nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, valuations of securities or completeness of any information on this site or the use of information on this site. Neither Grit nor any of its directors, officers, employees, representatives, affiliates or agents shall have any liability whatsoever arising from any error or incompleteness of fact, or lack of care in the preparation of, any of the materials posted on this website. Investing in securities, especially those issued by start-up companies, involves substantial risk. investors should be able to bear the loss of their entire investment and should make their own determination of whether or not to make any investment based on their own independent evaluation and analysis.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at help@gritcap.io
Reply