Monthly Archives: January 2023
BlockFi secret financials show a $1.2 billion relationship with Sam Bankman-Fried’s crypto empire
(CNBC) Bankrupt crypto lender BlockFi had over $1.2 billion in assets tied up with Sam Bankman-Fried’s FTX and Alameda Research, according to financials that had previously been redacted but were mistakenly uploaded on Tuesday without the redactions. BlockFi’s exposure to […]
Stock futures fall in overnight trading as Microsoft reverses earlier gains
(CNBC) Stock futures fell in overnight trading on Tuesday. Futures on the Dow Jones Industrial Average futures slipped 106 points, the Nasdaq 100 shed 0.8% and S&P 500 futures fell 0.5%. Shares of Microsoft dropped about 1%, reversing earlier gains […]
Crypto exchange Gemini lays off 10% of workforce in its latest round of cuts
(CNBC) Crypto exchange Gemini will reduce its headcount by 10%. It’s at least the third round of cuts in less than a year for Gemini, which was co-founded by twins Cameron and Tyler Winklevoss, and unlike many of its peers, […]
Google CEO defends job cuts in animated town hall as employees demand clarity on process
(CNBC) Days after Google announced the largest round of layoffs in the company’s 25-year history, executives defended the job cuts and took questions from a concerned workforce during a town hall meeting on Monday. Google CEO Sundar Pichai led the […]
Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff
(CNBC) Spotify announced Monday it’s cutting 6% of its global workforce as the music streaming company contends with a gloomy economic environment that has seen consumers and advertisers alike limit their spending. Spotify has a total workforce of around 9,800 […]
SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets
(HedgeCo.Net) The Securities and Exchange Commission has charged Avraham Eisenberg with orchestrating an attack on a crypto asset trading platform, Mango Markets, by manipulating the MNGO token, a so-called governance token that was offered and sold as a security. Investigations […]
Google employees scramble for answers after layoffs hit long-tenured and recently promoted employees
(CNBC) Google employees are scrambling for answers from leadership and from colleagues as the company undergoes a massive layoff. On Friday, Alphabet-owned Google announced it was cutting 12,000 employees, roughly 6% of the full-time workforce. While employees had been bracing […]
Feds seize almost $700 million of FTX assets in Sam Bankman-Fried criminal case
(CNBC) Federal prosecutors seized nearly $700 million in cash and assets connected to Sam Bankman-Fried, primarily in the form of Robinhood shares that were owned by the FTX founder, a court filing revealed Friday. John Ray, who replaced Bankman-Fried as […]
Ex-Genesis execs claimed they raised millions for crypto hedge fund just as former company neared bankruptcy
(CNBC) Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company claimed they had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Matt Ballensweig, who left Genesis […]
Elon Musk defends his old tweets in securities fraud trial in San Francisco
(CNBC) Tesla CEO Elon Musk appeared in a San Francisco federal court on Friday to defend tweets he posted to his tens of millions of followers in August 2018. The tweets said he had “funding secured” to take his electric vehicle […]
Bed Bath & Beyond beefs up legal team ahead of possible bankruptcy filing in New Jersey
(CNBC) Bed Bath & Beyond is bulking up its team of legal advisors as the troubled retailer preps a potential bankruptcy filing that would take place in New Jersey in the coming weeks, according to people familiar with the matter. […]
Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product
(HedgeCo.Net) The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay […]