City Brooklyn Financial News

A former Goldman Sachs banker is set to be sentenced on 9 March for helping to loot billions of dollars from a Malaysian sovereign-wealth fund in a global financial scandal that tarnished the Wall Street bank.

Former FTX Chief Executive Sam Bankman-Fried is expected to appear in court in the Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday.

A New York man is facing 25 years in prison, after being convicted by a federal jury in Brooklyn of money laundering and operating an unlicensed money transmitting business.

Fallen music star R Kelly was sentenced on Wednesday to 30 years in prison in a US federal sex trafficking and racketeering case in New York.

Jack Dorsey are teaming up to take Bitcoin and financial education to the rapper’s childhood home. Dorsey announced the launch of Bitcoin Academy on Thursday. The financial education program will be free for residents living at the Marcy Houses, a public housing complex in Brooklyn. The program will be offered both in-person and online from June to September. It launches in the midst of a turbulent year for cryptocurrencies. After soaring to almost $69,000 in November, Bitcoin has been in freefall for most of this year, with the largest cryptocurrency tumbling as much as 63% from that all-time high. More than $200 billion in overall market value was erased in a single day after the collapse of TerraUSD in May. The Bitcoin Academy said it aims to “provide education,

Legendary New York hip-hop artist and producer, Jay-Z has joined forces with the founder of Cash App, Jack Dorsey, to launch "The Bitcoin Academy," an educational program advocating for the democratic vision that “education is power.”