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Federal prosecutors are investigating the cause of FTX’s collapse and what happened to lost client funds
Federal prosecutors are investigating the cause of FTX’s collapse and what happened to lost client funds
The stunning collapse of cryptocurrency platform FTX is being investigated by federal prosecutors in Manhattan, people familiar with the investigation said. The US Attorney’s Office for the Southern District of New York is investigating the circumstances of FTX’s sinking, the people said, asking not to be identified because the investigation was not publicly announced. FTX’s sudden implosion with $9 billion…
MacKenzie Scott announces nearly $2 billion in donations to 343 organizations in a blog post
MacKenzie Scott announces nearly $2 billion in donations to 343 organizations in a blog post
Mega donor and novelist MacKenzie Scott announced donations of nearly $2 billion to 343 organizations in a short blog post Monday, emphasizing her interest in helping people from underserved communities. In her first post in nearly eight months, Scott presented her donations to numerous funds as a “great resource” for giving. “They pool donations and distribute them among a diverse…
Carl Nassib’s Rayze raises Series A funding for a new social media app
Carl Nassib’s Rayze raises Series A funding for a new social media app
Tampa Bay Buccaneers linebacker Carl Nassib dreamed for years of a different kind of social media app — one that celebrates positivity and community. He may have created them with Rayze, a new app that connects people to each other and to nonprofits that appeal to their interests or are based where they live. Now it’s just a matter of…
Another federal court scraps Biden’s student loan forgiveness plan
Another federal court scraps Biden’s student loan forgiveness plan
President Joe Biden’s widely publicized student loan forgiveness plan has been blocked for the second time in less than a week, this time by the 8th Circuit Court of Appeals in St. Louis. The federal appeals court comes after six conservative states, including Arkansas, Iowa, Kansas, Missouri, Nebraska and South Carolina, filed a lawsuit arguing Biden’s loan-cutting plan is hurting…
Home Equity Loan Rates for November 14, 2022: Rates see another rise
Home Equity Loan Rates for November 14, 2022: Rates see another rise
Building equity in your home begins the moment you make your down payment. This equity continues to build as you pay down your mortgage balance, make improvements to your home, and let time go by. Not only does this work to your advantage when you decide to sell your home, you can lend your home a home loan in the…
Elon Musk cuts off free meals for Twitter employees, arguing no one is in the office to eat them
Elon Musk cuts off free meals for Twitter employees, arguing no one is in the office to eat them
Just as Elon Musk was ordering Twitter employees to return to the office, he plans to scrap their costly free lunch perks — arguing that employees didn’t show up for lunch at all. The reasoning may seem counterintuitive now that he has ended the remote work privilege introduced by Jack Dorsey in October 2020, but it is emblematic of the…
The global temperature limit of 1.5°C is under threat at COP27
The global temperature limit of 1.5°C is under threat at COP27
Strong action on global warming is being quickly eroded at this year’s COP27 as fossil fuel lobbyists at the UN climate conference seek to deaden the language surrounding the Paris Agreement. Several unnamed countries want to omit mention of the 1.5-degree limit for global temperature increases in the official text of the COP27 summit, US special envoy for climate issues…
Crypto.com CEO Kris Marszalek says his exposure to FTX was capped at $10 million
Crypto.com CEO Kris Marszalek says his exposure to FTX was capped at $10 million
Expect a harsh crypto winter, but Crypto.com isn’t going anywhere, CEO Kris Marszalek said during a live interview hosted on his YouTube channel. Over the past week, Crypto.com’s CRO token has fallen nearly 45% amid fears that the Singapore-based exchange will be next to face a liquidity crunch. According to data from Nomics, the exchange’s daily volume has plummeted from…
Binance promised transparency with proof of reserves. Is that enough?
Binance promised transparency with proof of reserves. Is that enough?
While Binance founder and CEO Changpeng Zhao dealt a fatal blow to his main rival, FTX’s Sam Bankman-Fried on Tuesday tweeted a curious announcement: Binance would start issuing “proofs of reserve”. Crypto is full of these weird phrases, but Zhao — or CZ, as he’s commonly known — has hinted that proof of reserves can reform the industry by offering…
Elon Musk warns business leaders who want to be like him: “Be careful what you wish for. The amount I torment is next level.
Elon Musk warns business leaders who want to be like him: “Be careful what you wish for. The amount I torment is next level.
Billionaire Elon Musk has assumed responsibility for yet another company by acquiring Twitter. And while some see his track record as a goal, Musk himself doesn’t believe it’s a lifestyle others should aspire to. “I would be careful what you wish for. I’m not sure how many people would really like to be me,” he said via video link to…