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SBF complains of poor internet in jail

The reliability of the internet within the federal jail system has become a pressing issue, prompting the legal team of Sam Bankman-Fried to intensify their efforts for his early release, aimed at enhancing his preparations for an impending legal battle.

In a filing submitted to a federal judge on Friday, Bankman-Fried’s legal representatives highlighted the inadequate internet access provided to their client for reviewing crucial documents essential to his defense. Since being taken into custody at the Metropolitan Detention Center in Manhattan, the lawyers contend that the jail’s conditions have hindered their ability and they “lost time to effectively prepare for trial”.

“We therefore respectfully reiterate our request that the court order Mr. Bankman Fried’s temporary release,” they wrote.

You can read more on the matter here.

What’s going on?

• Canopy Growth Jumps 81% On Renewed Sector Interest (theDeepDive)

• Kim Jong-un Departs for Official Russian Visit With Vladimir Putin While Washington Boosts Military Presence on Korean Peninsula (theDeepDive)

• Inflation Dragged Real US Household Incomes Down 2.3% in 2022 (Bloomberg)

• Joe Biden’s Own Press Secretary Cuts Off Rambling President During News Conference (theDeepDive)

• Housing Minister Sean Fraser Considers Axing Ambitious Immigration Targets After Realizing Canada’s Housing Challenges Are Real (theDeepDive)

• Libya floods wipe out quarter of city, 10,000 feared missing (Reuters)

• Texas Faces Power Price Surge of 20,000% in Severe Heatwave (theDeepDive)

• Marking Up at Markham: City Needs to Raise Property Taxes by 93.3% from 2024 to 2026 to Support Ontario’s Bill 23 (theDeepDive)

• TikTok launches online shopping in the US (Reuters)

• Armenia-Azerbaijan: Is Another War Breaking Out? (theDeepDive)

What’s the latest?

• EV Subsidies Are A Bust: A report from the Parliamentary Budget Officer suggests it will take 20 years for the Canadian federal government to break even on its commitment to provide $28.2 billion in production subsidies to automotive plants in St. Thomas and Windsor. The report outlines that it will be 2043 before the Stellantis-LGES EV battery plant in Windsor and the Volkswagen plant in St. Thomas generate enough federal and provincial tax revenue to match the subsidies.

• Canada’s National Security: Canada is facing criticism for its lack of a strategic approach to national security. The Business Council of Canada has called for the government to develop a national security strategy with economic security as one of its pillars. However, experts argue that the problem starts with a complacent electorate that doesn't prioritize national security, leading politicians to neglect it as well.

• Libya Floods: Severe flooding in Libya, triggered by Storm Daniel, has left at least 10,000 people feared missing. The floods have caused extensive damage in the eastern city of Derna, with over 1,000 bodies already recovered and officials expecting the death toll to rise significantly.

• ADHD Meds In Short Supply: Millions of Americans with ADHD are experiencing difficulties in obtaining the drugs they need due to shortages. Teva Pharmaceutical Industries Ltd., the leading maker of Adderall, attributed its shortages to a lack of factory workers, prompting rival companies to also run short on supply. The economic factors affecting this issue include the limited profitability of generic ADHD medications, making manufacturers less inclined to maintain surplus capacity.

• TikTok Begins Online Sales: TikTok has officially launched its e-commerce business in the United States after a period of testing. The social media app, owned by ByteDance, aims to capitalize on its popularity by bringing online shopping to its platform. Users in the U.S. can now see videos and live streams with links to purchase items, and content creators, brands, and merchants can create shoppable content.

Trump's 4 Indictments

The stock market and stuff

• FTC Targets TurboTax For Deceptive “Free” Ads (theDeepDive)

• Apple's iPhone 15 launch clouded by China problems (Reuters)

• DOJ: Google Pays “Over $10 Billion” Yearly To Keep Search Engine Monopoly (theDeepDive)

In the juniors

• LNG Energy Group Commences Trading On The TSX Venture (theDeepDive)

• Surge Battery Metals Averages 4,067 PPM Lithium Over 42.7 Metres In Latest Drilling (theDeepDive)

• West Red Lake Gold Hits 70.80 g/t Gold Over 8.3 Metres (theDeepDive)

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