Business

Where is Sam Bankman Fried? The answer is no small thing. On Friday, he resigned as CEO of FTX, the cryptocurrency exchange that spectacularly imploded this week. The sudden demise and bankruptcy of FTX has eroded already shaky confidence in the crypto sector, sparking renewed calls for tighter regulation in the space. After his resignation crypto watcher speculated that he…

Shock at FTX’s sudden collapse turns to anger as it emerges that CEO Sam Bankman-Fried has been using client funds from the exchange to offset losses at his failing crypto empire. The question now is what the consequences will be for the one-time icon known to all as SBF. While there will be civil lawsuits as customers and investors try…

That could make some companies nervous. Last week, trolls used the new service to impersonate various corporations. For example, one posed as Eli Lilly and announced, “We’re pleased to announce that insulin is now free,” putting the pharma giant into damage control mode. Another pretended to be the Lockheed Martin defense contractor and told the company would stop selling guns…

Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts hours after the company filed for Chapter 11 bankruptcy protection on Friday. The embattled company’s new CEO, John Ray III, said Saturday that FTX was shutting down the ability to trade or withdraw funds and was taking steps to protect customers’ wealth, according to a tweet from…

Federal prosecutors have asked a judge to sentence disgraced Theranos CEO Elizabeth Holmes to 15 years in prison, arguing she deserves a lengthy sentence because her massive scheme defrauded investors of hundreds of millions of dollars by stealing falsely convinced them that their company had developed a revolutionary blood testing device. Prosecutors called the case “one of the most serious…

US Treasury Secretary Janet Yellen will seek information on China’s Covid lockdown policy and its struggling real estate sector at a meeting with the head of the country’s central bank this week, according to senior Treasury Department officials. Information on both of those issues could help the US administration get a better handle on the prospects for the world’s second-biggest…

Russia and the US failed to agree on language for a joint statement after a multilateral summit in Cambodia, making it unlikely the Group of 20 nations will reach consensus in Indonesia this week. Russian Foreign Minister Sergei Lavrov blamed the US and its allies for the lack of a communiqué at the 18-nation East Asia summit, saying on Sunday…

Matthew Kim, a UC Berkeley senior studying economics, is already in the middle of looking for a postgraduate job. But instead of focusing on a big name or lucrative entry-level salary among the finance and consulting firms he rates, Kim prioritizes how the company performs. “At the end of the day, wherever I choose to work, I’ll hopefully be working…

The big question as we enter the 10th gradeth Week of the 2022-2023 season, how strong is Buffalo without its field general? Quarterback Josh Allen is a question for Sunday’s game against the Vikings, but that might not matter given how dominant the team has been all year. With less than half the season left, injuries are more important than…

“Nostalgia, it’s delicate but strong,” said mad Men‘s Don Draper presenting a concept for Kodak slides. In his famous speech, which aired in late 2007 as Wall Street banks began to falter under the weight of mortgage-backed securities, the legendary ad executive described why brands look to the past. Nostalgia, he said, is a Greek word meaning “the pain of…