Monthly Archives: January 2023
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 […]
Stock futures tick up after Dow goes negative for the year
(CNBC) Stock futures ticked higher on Thursday as investors tried to hang onto the January rally amid worries about monetary policy and slowing earnings. Futures tied to the Dow Jones Industrial Average rose 11 points, or 0.03%. S&P 500 and […]
Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert’s DCG empire
(CNBC) Crypto lender Genesis filed for Chapter 11 bankruptcy protection late Thursday night in Manhattan federal court, the latest casualty in the industry contagion caused by the collapse of FTX and a crippling blow to a business once at the […]
Binance was final destination for millions in funds from Bitzlato, exchange shut down for alleged money laundering
(CNBC) Federal prosecutors unsealed an indictment against a little-known crypto exchange called Bitzlato on Wednesday, alleging that it facilitated the laundering of $700 million in tainted crypto tied to the now-shuttered dark-web market Hydra, and millions more in ransomware proceeds. […]
CTAs return 7.33% in 2022
(Hedgeweek) The managed futures industry cut its monthly loss to -0.13% in December, following a -1.33% loss a month earlier, according to the Barclay CTA Index, compiled by BarclayHedge. CTAs were in positive territory for the year, however, posting a […]
Netflix blows away expectations on subscriber numbers
(CNBC) Netflix added millions more subscribers in the fourth quarter than Wall Street expected, helping to send shares of the streamer up after the bell despite a big earnings miss. To read this article:
Disney activist Trian down 10.6% in 2022
(Hedgeweek) Trian Fund Management, the activist hedge fund investment firm currently pushing for changes plus a seat on the board at Walt Disney Co, lost 10.6% last year as many hedge funds incurred losses on the back of market volatility, […]