Tag Archives: saga

The bankruptcy filing of crypto exchange FTX on Friday did not stop the chaos surrounding the once prominent and trusted crypto trading venue. Since the filing that included 135 affiliated companies, millions of dollars in crypto have been stolen from the company, which is facing a shortfall between $6 billion and $10 billion. Bahamian officials are also probing the matter. “I don’t think it’s an understatement to predict that the FTX bankruptcy will be the most complex in U.S. history,”… Source link

Elon Musk on Friday announced he was backing out of his $44 billion Twitter acquisition bid, blaming the social media platform’s alleged lack of transparency regarding bots on the site. As both sides prepare for a lengthy court battle, some Twitter influencers are floating an alternate theory for the change of heart: The bots were never the problem, merely a vehicle through which to covertly sell Tesla options that were about to expire. “Entire thing was a clever ruse to SELL + LIQUIDATE $8.5… Source link

BEIJING — U.S. anti-doping chief Travis Tygart said Friday that the testing delay that allowed Russian figure skater Kamila Valieva to compete at the Olympics was “absolutely inexcusable” and “a catastrophic failure of the system that is so egregious, it almost seems intentional.” “I’m not saying that it is [intentional], because I don’t know that,” Tygart clarified in a phone interview. “But it never should’ve happened.” The International Testing Agency confirmed Friday that Valieva, the… Source link

Elon Musk.Picture Alliance/Getty Images The teen who went viral for tracking Elon Musk’s private jet got a job offer out of the saga. The New York Post said Jack Sweeney was offered work with Stratos Jet Charters. Musk previously offered Sweeney $5,000 to shut down the account and has since blocked the teen. The teen who went viral for tracking Elon Musk’s private jet on Twitter has gotten a job offer out of that pursuit. Jack Sweeney, 19, has been offered work with the Orlando, Florida,… Source link

Former Defense Secretary Jim Mattis testified on Wednesday in the fraud trial of entrepreneur Elizabeth Holmes, saying that he had been given a false impression about the capability of the blood testing product put forward by her now-defunct company Theranos. The testimony from Mattis, who sat on the board of the company for three years, is a central part of the prosecution’s case characterizing the fallen Silicon Valley star as a savvy operator who misled investors. Regardless of the trial’s… Source link

Markets sold off on Monday amid worries about Chinese property giant Evergrande’s massive debt load, and one expert warns that there is more agony coming for anyone connected to Evergrande. “There’s going to be a lot of pain — almost everybody involved with this is going to get a chunk taken out of them, if not worse,” Leland Miller, CEO of China Beige Book, told Yahoo Finance (video above). Evergrande currently has over $305 billion in liabilities, and some worry about the potential risks… Source link

The trial of Theranos CEO Elizabeth Holmes officially begins next week — and there’s more at stake than the fate of a disgraced biotech entrepreneur, and a company that’s now become synonymous with fraud. Indeed, there’s at least some element of Silicon Valley that’s also being put on trial, and at least a few entrepreneurs believe the fallout could outlast the trial headlines, particularly for female startup founders. The tech sector’s mantra of “move fast and break things,”… Source link

Google fired the lead of its Ethical Artificial Intelligence team, Meg Mitchell, escalating the turmoil surrounding its AI division after the acrimonious exit of Mitchell’s former colleague Timnit Gebru. “I’m fired,” Mitchell tweeted Friday, a minute after saying she was “in too much pain to articulate much of anything useful. Firing @timnitGebru created a domino effect of trauma for me and the rest of the team, and I believe we are being increasingly punished for that… Source link

TipRanks J.P. Morgan Says These 3 Gold Stocks Could Surge 40% (Or More) Let’s talk about gold. The precious metal is the traditional safe haven investment, backed by its use – starting 5,000 years ago – as a reliable store of value. Investors looking to protect their portfolio and secure their wealth traditionally bought heavily into gold, and the price of gold has sometimes been used as a proxy (albeit an inverse one) for general economic health. In a recent report, investment firm J.P…. Source link

NEW YORK (AP) — The frenzy around GameStop’s stock may have quieted down, but the outsized influence small investors had in the saga is likely to stick around. No one expects another supernova like GameStop to happen again, where a band of smaller-pocketed investors helped boost a struggling company’s stock 1,000% in two weeks. But the tools they employed can be used again and again, if those smaller investors stay connected on social media forums and if regulators don’t change the… Source link