Category Archives: Syndicated
Binance exec says ‘it was like a bomb went off’ at FTX, compares Bankman-Fried to Madoff and Elizabeth Holmes
(CNBC) Binance’s chief strategy officer said it took his company two hours of due diligence on FTX to determine that Sam Bankman-Fried’s crypto exchange was beyond saving. “It was like a bomb went off in that place,” Patrick Hillmann, Binance […]
FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing
(CNBC) FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain “unauthorized access” to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy […]
Amazon CEO Andy Jassy says layoffs will continue into next year
(CNBC) Amazon will continue to lay off employees in the coming year, CEO Andy Jassy wrote in a memo to workers on Thursday. “I’ve been in this role now for about a year and a half, and without a doubt, […]
Elon Musk sets more in-office requirements at Twitter, threatens lax managers
(CNBC) A pair of new emails from Elon Musk to Twitter employees says managers must meet in-person with employees — even exceptional ones — at least monthly, adding that managers can be terminated for allowing employees to work remotely if […]
Hedge funds kick off Q4 in positive territory
(Hedgeweek) Over two-thirds (67%) of hedge funds recorded positive returns in October, marking a significant turnaround from the 31% that managed to end the previous month in positive territory, according to a report by Forbes. To read this article:
S&P 500 stock rally bypasses equity hedge funds
(Hedgeweek) The recent 10% rally in the S&P 500 bypassed some of the world’s largest equity hedge funds, according to a report by Bloomberg, with many missing out on boosting returns by failing to ramp up bullish bets in Q3. […]
Gemini, BlockFi, Genesis announcing new restrictions as FTX contagion spreads
(CNBC) In the latest fallout from FTX’s rapid collapse last week, the lending arm of the crypto investment bank Genesis Global Trading is pausing new loan originations and redemptions, the company announced in a thread of tweets Wednesday. The lending arm of […]
Sam Bankman-Fried wanted to let retail investors borrow money to trade crypto derivatives: CFTC head
(CNBC) Sam Bankman-Fried, co-founder of bankrupt crypto firm FTX, spent almost a year trying to convince regulators to let him introduce a derivatives product that would allow retail investors to trade with borrowed money, according to Rostin Behnam, chairman of […]
Cisco shares pop on earnings beat and increased 2023 forecast
(CNBC) Cisco reported fiscal first-quarter results on Wednesday that beat analysts’ estimates and boosted its guidance for fiscal 2023. The stock rose about 5% in extended trading. To read this article:
Fed’s Waller says he’s open to a half-point rate hike at December meeting
(CNBC) Federal Reserve Governor Christopher Waller said Wednesday he’s open to reducing the level of interest rate increases soon, so long as the economic data cooperates. The rate-setting Federal Open Market Committee is set to meet Dec. 13-14. Market expectations […]
TCI urges Alphabet to cut costs and reduce headcount
(Hedgeweek) TCI Fund Management (TCI) wants Google parent Alphabet to reduce costs by cutting its headcount in a bid to adjust to slower growth according to a report by Reuters. The activist investor also wants the company to cut losses […]
Cederberg cuts fees following poor performance
(Hedgeweek) Cederberg Capital, a hedge fund focused on investments in Chinese stocks, has reduced its investor fees following continued poor returns due to China’s reluctance to lift strict Covid restrictions, according to a report by Today Online. To read this […]