Monthly Archives: March 2024
S&P 500 closes at a fresh record, posts strongest first-quarter performance since 2019: Live updates
(CNBC) The S&P 500 rose Thursday, registering its best first-quarter performance in five years. The broad market benchmark was up 0.11% to settle at 5,254.35. The Dow Jones Industrial Average added 47.29 points, or 0.12%, and finished at 39,807.37. Both […]
Sam Bankman-Fried’s girlfriend helped put the FTX founder behind bars for 25 years
(CNBC) In sentencing FTX founder Sam Bankman-Fried to a 25-year prison sentence on Thursday, Judge Lewis Kaplan cited testimony from Caroline Ellison, an ex-girlfriend of the defendant and early recruit into his crypto enterprise. “I keep coming back to Ms. […]
Reddit shares plunge almost 25% in two days, finish the week below first day close
(CNBC) Reddit shares are plummeting after experiencing a rally stemming from the social media company’s IPO last week. Shares closed at $49.32, ending the week below their closing price on Reddit’s first day of trading on the New York Stock […]
Investors pulled $1bn from ExodusPoint in 2023
(Hedgeweek) Clients of ExodusPoint Capital Management, the $12bn multi-strategy hedge fund firm founded by Michael Gelbrand, pulled about $1bn in funds from the New York-based firm during 2023, the second straight year of withdrawals, according to a report by Bloomberg. […]
SS&C expands fund admin business with new Abu Dhabi office
(Hedgeweek) SS&C Technologies Holdings is expanding its global footprint with the opening a new office in Abu Dhabi, having secured full approval from the Financial Services Regulatory Authority (FSRA) to deliver fund administration services within the Abu Dhabi Global Market […]
Hedge fund Astignes eyes hundreds of millions for new macro strategy
(Hedgeweek) Astignes Capital Asia Pte, a Singapore-based hedge fund firm focused on macro and relative value investments in the Asia-Pacific region, is opening its new Astignes Systematic RV Macro Fund to outside investors from April, according to a report by […]
Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet
(CNBC) Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup […]
Stock futures are little changed as S&P 500 gets set to close out the first quarter up 10%: Live updates
(CNBC) Stock futures are trading near the flatline overnight as the S&P 500 approached its best first-quarter performance in five years. Futures tied to the Dow Jones Industrial Average slipped 32 points, or 0.08%. S&P 500 futures inched lower by […]
Penthouse to prison: Sam Bankman-Fried’s journey from crypto king to convicted conman
(CNBC) Two years ago, Sam Bankman-Fried was a 30-year-old multibillionaire living in a $35 million Bahamas penthouse, partying with his pals while running one of the world’s most valuable crypto companies. Today, he’s a 32-year-old inmate at the Metropolitan Detention […]
SBF team argues for 5-6 years in jail because FTX customers will get money back
(CNBC) While prosecutors are requesting that FTX founder Sam Bankman-Fried spend 40 to 50 years in prison for his crimes, the defense team is urging the judge to consider a sentence that’s roughly 90% shorter. To read this article:
TikTok makes $2.1 million TV ad buy as Senate reviews bill that could ban app
(CNBC) TikTok has launched a $2.1 million advertising campaign with a clear message for senators in tough reelection fights this year: Block the House bill that could effectively ban the app in the United States. “Think about the 5 million […]
Citadel adds X software engineer to team
(Hedgeweek) Linyun Fu, a software engineer at X who survived Elon Musk’s axing of 50% of jobs at the social media platform, has left the company after eight years to take up a new software engineering role at multi-strategy hedge […]
