Monthly Archives: November 2022
Washington lobbyists sever ties with FTX founder Sam Bankman-Fried after crypto exchange implodes
(CNBC) Former FTX CEO Sam Bankman-Fried and his allies are losing advocates in Washington, as the company hits rock bottom. Lobbyists who worked for FTX and Guarding Against Pandemics, a nonprofit partially funded by Bankman-Fried and run by his brother, […]
Stock futures rise after Wall Street suffers first decline in three sessions
(CNBC) Stock futures were higher Tuesday morning after ending the day lower, snapping a two-day advance that started when a better-than-expected inflation report stoked hopes that the Federal Reserve would soon ease up on raising interest rates. Futures tied to […]
Crypto.com CEO downplays FTX contagion fears, says he’ll prove naysayers wrong as withdrawals rise
(CNBC) The boss of cryptocurrency exchange Crypto.com took to YouTube Monday to reassure users of his platform after the stunning collapse of rival firm FTX sparked fears of a market contagion. In an “AMA” (ask me anything) on YouTube, the […]
SEC Obtains Fraud Injunction and Penny Stock Bar Against Microcap Stock Promoter
(HedgeCo.Net) Judge Ricardo S. Martinez of the U.S. District Court for the Western District of Washington has entered a consent judgment against David Ferraro for his role in an alleged microcap stock promotion scheme that generated approximately $792,000 in trading […]
Hedge fund industry AUM holds up at just below $5tn all-time high, despite global downturn
(CNBC) The pace of Hedge Fund redemptions accelerated slightly in August to $18.92 billion (-0.38% of industry assets), according to the Barclay Fund Flow Indicator published by Barclay Hedge. A trading loss of -$54.13 billion during August saw total hedge […]
Disney misses on profit and key revenue segments, warns streaming growth could taper
(CNBC) Disney fell short of expectations for profit and key revenue segments during the fiscal fourth quarter Tuesday and warned strong streaming growth for its Disney+ platform may taper going forward. Shares of the company fell roughly 8% in after-hours […]
Stock futures inch lower as Wall Street awaits results of midterm elections
(CNBC) Stock futures were lower — following recent market gains — as results of the midterm elections dragged on with control of the U.S. House of Representatives and Senate still up in the air. S&P 500 futures fell by 0.25%, […]
Elon Musk sells at least $3.95 billion worth of Tesla shares after Twitter deal
(CNBC) Elon Musk has sold at least another $3.95 billion worth of shares in his electric car company Tesla after closing his $44 billion acquisition of Twitter. According to filings with the Securities and Exchange Commission published Tuesday, Musk sold […]
FTX’s token plunges 80% on liquidity concerns, wiping out over $2 billion in value
(CNBC) FTT, the token native to crypto exchange FTX, lost most of its value after rival Binance, the world’s largest cryptocurrency firm, announced plans to acquire the company. The coin traded at around $22 on Monday and sank below $5 […]
Salesforce cut hundreds of employees Monday
(CNBC) Salesforce on Tuesday confirmed that it cut some employees this week after the enterprise software maker saw demand lighten in some countries and industries. Protocol reported earlier on the cuts, saying they could affect up to 2,500 employees. One […]
Summary Judgment Granted Against New Hampshire Issuer of Crypto Asset Securities for Registration Violations
(HedgeCo.Net) Judge Peter Barbadoro of the United States District Court for the District of New Hampshire has granted the SEC’s motion for summary judgment against LBRY, Inc., a New Hampshire software company that issued crypto asset securities called “LBRY Credits” […]
Feds announce seizure of $3.36 billion in bitcoin stolen a decade ago from illegal Silk Road marketplace—the second-largest crypto recovery
(CNBC) The U.S. Department of Justice announced Monday that it seized about $3.36 billion in stolen bitcoin during a previously unannounced 2021 raid on the residence of James Zhong. Zhong pleaded guilty Friday to one count of wire fraud, which […]