Shuttin’ the door… on crypto winter’s darkest days. Sam Bankman-Fried’s day of reckoning arrives this week. The founder of FTX, the crypto exchange that imploded in late 2022, is set to be sentenced Thursday by a federal judge. The former billionaire was convicted of stealing $8B in customer funds, and prosecutors have asked for a 40- to 50-year sentence (SBF’s lawyer called that “barbaric”). Meanwhile, crypto’s thriving with bitcoin hitting an all-time high this month. SBF’s sentencing could bring (some) closure as investors bask in crypto spring.
Revenge cruise szn… Carnival reports on Wednesday as more vacationers hit the high seas. One of the world’s largest cruise companies, Carnival sailed past earnings and sales expectations in Q4 as scorching demand allowed it to raise prices. Last month Norwegian Cruise reported its first profitable year since 2019, and Royal Caribbean touted record annual bookings. Thanks to revenge travel and the rise of remote work, nearly 36M passengers will set sail this year, up from 31M last year. Carnival’s expected to report double-digit sales growth.