BBC 英语学习 News Review Cryptocurrency king Sam Bankman-Fried Charged

The so called king of crypto has been charged with fraud.

This is news review from BBC.

Learning English. I'm Neil and I'm Beth.

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Now, the story $3.1 billion. That's how much the crypto currency exchange company FTX owes to its 50 largest investors.

Sam Bankman Freed, the founder and CEO, has been arrested and charged with fraud.

He is accused of transferring FTX money enter his own hedge fund.

You ve been looking at the headlines, beth, what's the vocabulary?

We have file Rise and Fall and White Night.

This is news review from BBC, learning English.

Let's have a look at our 1st headline.

This is from the New York Times.

Sam Bankman freed arrested in the Bahamas after US prosecutors file charges.

So US prosecutors have filed charges, and a charge is an accusation, and that means he needs to go to court, he needs to go on trial.

But the word we're looking at is file to file something.

When I do this at home, means that I take an important document, like a passport, and I put it somewhere safe that I know I know where it is.

Is that the same sense? Um, well, this is file as well.

It's also over, but it is a little bit different.

So here we're talking about making something official in terms of the law, yeah?

And this man has been arrested.

And the headline says That Prosecutors have file charges.

So it's all very official, because the prosecutors have legally confirmed that he's been charged.

Yeah, exactly. And there are other words that we can put after fail just to show that something is official in law, yes.

So a company can file for bankruptcy, that means officially declare or say that they have no money.

Yeah, that's right. Or a couple might file for divorce.

If your self employed, then you might file your taxes online.

OK, let's take a look at that.

Let's have a look at our next headline.

This one is from Al Jazeera, timeline The Rise and spectacular Fall of FTX.

So the headline talks about FTX, the crypto currency exchange, which has gone bankrupt, and talks about the rise and fall of this company.

Well, I know what rise means, go up and fall go down, but this is a set expression.

What's the sense? Yeah, so when we talk about the rise of something like a company, it means it's getting better and better, but then we get the fall.

There are some problems, maybe a lot of reputation.

Okay, so this expression, rise and fall.

Is that just for companies, financial stuff like that?

No. So it can also be used for people or teams regimes.

Is another one. Anything really, that has a period of success and then becomes unsuccessful, they lose their success.

Yeah? And that's really important, that when they are successful, this expression rise and fall means that they are really successful, really dominant, and then that goes away quickly.

Yep. Now, we do often see this in headlines, as we have here.

We see it to talk about projects, book titles, e.g., is that book The Rise and Fall of the Dinosaurs?

I also saw a headline about The rise and fall of dvds.

Yeah. Dvds used to be everywhere.

They were dominant. Now they're less popular because of streaming a word on pronunciation.

We've got the expression the rise and fall of But said together, it's there's a lot of linking, and some of the vowel sounds change.

So let's listen to that. The rise and fall of, yeah, the rise and fall of the rise and fall of the dinosaurs.

Let's look at that one more time.

Let's have a look at our next headline.

This is from Reuters. Sam Bankman freeds sudden turn from white night to detainee.

So the headline is saying that Sam Bankman Freed has taken a sudden turn.

That means he's changed from being a white knight to a detainee.

A detainee is someone who's being held often by the police, like in this case.

And a white

knight is what we're looking at now.

Night, we we all

know a night for a myths and fiction.

Uh, the personal on the horse with the armor and the sword saving people, is that what we're talking about?

Um, yeah, kind of, that is a night.

Um. So we're looking at White Night, and it's a fictional literary character that can be a person or a thing, and it rescues or helps people.

And importantly, a White knight can also be someone that gives financial help.

OK? So we have the literal night on the horse with the armor, and we've got the metaphorical White Knight helping people, helping companies financially.

Why is the headline calling Sam Bankman freed a white knight?

Well before the collapse of FTX, he said that he was going to give money to fund science and help others.

He also had a lot of respect from people in the financial world, OK?

So people thought he was going to be really helpful to society.

Um? Is this expression white night?

Is it used very often in our average conversation?

No, not really. So if someone helps you, you're more likely to call them helpful, or you might say, they're generous.

But we do hear White night in fictional stories and in headlines.

OK, let's look at that again.

We've had file make something official by law, rise and fall, something does well and then does badly, and White Night, someone or something that helps others.

Don't forget. there's a quiz on our website at bbc learning english dot com.

Thank you for joining us. And goodbye.

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