Month: November 2023

Enlarge / The view of Earth's curved horizon from Virgin Galactic's SpaceShipTwo rocketplane. (credit: Virgin Galactic)

It has been fun to watch Virgin Galactic string together six flights to suborbital space this year. The company was founded by Richard Branson in 2004 to open the experience of spaceflight to everyday people and make some money in the process. Virgin Galactic hasn't achieved those goals yet, but the company has reason to celebrate its successes over the last six months.

There is sometimes ribbing of Virgin Galactic and Blue Origin from space enthusiasts because they don't fly astronauts or payloads into orbit, and they cater to wealthy clients. Passengers on a Virgin Galactic or Blue Origin flight experience a few minutes of weightlessness as they reach the apex of a trajectory that, in Virgin Galactic's case, barely breaks the 80-kilometer (50-mile) threshold, the altitude where space begins, based on the US government's definition.

But they offer access to microgravity and the space environment at a fraction of the cost of an orbital flight. Instead of several tens of millions of dollars per seat, we're talking about $450,000 for a ride to space with Virgin Galactic. Blue Origin costs a bit more.

Enlarge / Sam Bankman-Fried leaves court in New York on Thursday, Feb. 16, 2023. (credit: Getty Images | Bloomberg)

FTX founder Sam Bankman-Fried was convicted of defrauding customers by a federal jury today. He was convicted on all seven counts, Reuters and other news outlets reported. The 12-member jury returned the verdict after several hours of deliberation.

The seven charges are wire fraud on customers of FTX, conspiracy to commit wire fraud on customers of FTX, wire fraud on lenders to Alameda Research, conspiracy to commit wire fraud on lenders to Alameda Research, conspiracy to commit securities fraud on investors in FTX, conspiracy to commit commodities fraud on customers of FTX in connection with purchases and sales of cryptocurrency and swaps, and conspiracy to commit money laundering.

The five charges related to wire fraud and money laundering carry maximum sentences of 20 years each, while the two securities and commodities fraud charges have maximum sentences of five years each. US District Judge Lewis Kaplan will determine the actual sentence.