SBF’d… The crypto trial of the decade begins tomorrow. Officials charged former FTX CEO Sam Bankman-Fried with fraud and money laundering, and his day in court could stretch into a weeks-long spectacle. Former FTX execs are expected to testify against crypto’s once-called “White Knight,” including his ex-girlfriend and a former fraternity brother. If convicted, SBF could face life in prison (experts say 10-20 years is more likely). Meanwhile, the FTX bankruptcy is trucking along: management says it’s recovered $7B+.
A rivalry’s a-brewin’… Constellation Brands is expected to report bubbly results on Thursday. Constellation owns a bar cart’s worth of alcohol brands, from Svedka Vodka to Cook’s Champagne and Modelo. Modelo Especial became the US’s best-selling beer this spring after a boycott of former titleholder AB InBev’s Bud Light saw celebs like Kid Rock destroying their cans. AB InBev’s US revenue sank 11% in the second quarter, but total revenue was buoyed by strong international sales.