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Good Morning,
Sam Bankman-Fried Arrest
Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, was arrested in the Bahamas on Monday after U.S. prosecutors filed criminal charges.
The Bahama’s was notified of the charges and extradition request by American prosecutors and detained the 30 yr old.
The criminal charges against Bankman-Fried included wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering, according to reports.
I was surprised to learn in an interview with a digital investment company here in London, even their clients had been exposed in the sweeping global 8 billion dollar loss.
FTX shows us how unregulated crypto companies can harm investors, and the calls for regulation of crypto are deafening.
Copy and paste our interview link to hear the podcast which features Nickel Digital Asset’s Michael Hall, who will explain the collapse and what has do be done in terms of regulation;
https://www.buzzsprout.com/1016881/11720255
Nuclear Breakthrough
It’s being called the 'Holy Grail” of nuclear energy. Researchers have made a breakthrough in their quest to unlock a limitless source of energy.
Laser beams, increased in power by millions of times, are directed in a process of nuclear fusion, to put out more energy than was injected.
The National Ignition Facility (NIF) at Lawrence Livermore National Laboratory in California that conducted the work said researchers have managed to release 2.5 MJ of energy after using just 2.1 MJ to heat the fuel with lasers.
The approach, which gives rise to the heat and light of the sun and other stars, has been hailed as having huge potential as a sustainable, low-carbon energy source.
One researcher on the project said “its a momentous achievement” and that “fusion has the potential to provide a near-limitless, safe, clean, source of carbon-free baseload energy”.
Imagine - within a decade or less if this can be harnessed into energy producing sources of power for light and heat and even miniature models for engines and transportation?
The technology is a long way from being a mainstay of the energy landscape. To start with, 0.4MJ is about 0.1kWh – about enough energy to boil a kettle. But it proves fusion can and will become a monstrous energy source in years to come.
Putin?
Russians believe how you spend the end of your last year, and enter New Years sets the stage for what the coming year will look like. For Russia leader Putin it appears 2023 will hold the promise of isolation, and a race to outrun uncomfortable truths that are haunting his totalitarianism rule of Russia.
Putin is cancelling his end of year news conference because of his attack on Ukraine.
I’ve been at many of these annual news conferences in the Kremlin, where President Putin takes questions from reporters and inevitably boasts of Russia’s achievements in front of a few hundred journalists.
It’s always staged, as the Kremlin only takes the questions it has pre determined will be flattering to the President, who just so happens to have all the statistics at his finger tips and gives lengthy answers to the queries he mostly knew in advance.
As a TV correspondent I was approached by the Kremlin spokesman several times to ask a specific question, and always asked Putin the question I wanted to pose regardless.
Still, it’s a tradition that has lasted for much of Putins 22 year rule of Russia.
Now we hear Putin is cancelling the press conference without explanation.
Is it because Putin is sick? There are always rumours these days.
Is it because Putin is hiding in a bunker outside of Moscow? Likely.
And is it because all of the questions would be uncomfortable, and only serve to highlight his failing and costly war in Ukraine? Bingo.
Other News…
Its cccccccold here in London as I write early this morning.
Granted its not a Canadian cold spell I grew up with and experienced many times, but this is a place where minus 4 C is feels freezing, especially in homes barely insulated.
The roads are clogged with drivers who don’t have snow tires, and don’t have a clue how to drive in snow. Don’t jam on your brakes on icy roads!
I measured 3 inches of snow on my car in the morning. Many people stayed home Monday and more will today, as the UK is hit with a major rail strike after members of the UK's largest rail union rejected a pay offer of 5% was rejected by union members facing 10% inflation.
Other strikes are looming over Christmas - Nurses, border guards, Royal mail, Eurostar, even ambulances.
It’s going to be a tough winter with angry people facing heat or eat choices for their families.
But for a moment…that glistening pure white snow reminded me of my childhood north of Toronto when snow meant fun for kids and a white joyous Christmas.
Enjoy the picture I took in front of Royal Albert Hall on my school drop off, driving through Hyde Park yesterday! And try to think like your kids do. Everyday is full of wonder and promise and maybe, you will get a chance to toss a snowball at the person you least like! Kidding.