Good morning from The Financial Times.
Today is Friday, December 12th, and this is your FT News Briefing.
Crypto Magnet Doquan got a hefty prison sentence,
and the House of Mouse is warming to the world of artificial intelligence.
Plus, we'll introduce you to the hardliner who wants to make Chile great again.
He has been preaching a very kind of severe law and order message and also really focusing on immigration.
I'm Victoria Craig, and here's the news you need to start your day.
South Korean crypto tycoon Do Kwon was sentenced to 15 years in prison late yesterday on two counts of fraud.
Kwon's TerraUSD and Luna tokens, which he controlled, collapsed in 2022.
That caused $40 billion in losses for investors.
Kwan admitted in a New York court earlier this year that he knowingly defrauded investors.
He pleaded guilty in August.
Prosecutors said Kwan created a financial world that was quote,
built on lies and manipulative and deceptive techniques.
In a letter to the judge ahead of Thursday's sentencing,
Kwan said he accepted full responsibility for Tara's failure.
To infinity and beyond may now be more like to artificial intelligence and beyond that's
because Buzz Lightyear and his crew of misfit toys will soon enter the brave new world of AI Disney has agreed to invest a billion dollars in open AI It's a deal that unleashes more than 200 Marvel Pixar and Star Wars characters into the universe of chat GPT and Sora its video generation tool until now the media and AI industries have been wary of each other so does Does this mark a turning point?
Chris Grimes is the FT's Los Angeles Bureau Chief, and he joins me now to discuss just that.
Hi, Chris.