Monthly Archives: March 2023
Stripe slashes valuation to $50 billion in new $6.5 billion funding round
(CNBC) Payment processor Stripe raised $6.5 billion at a $50 billion valuation, the company said Wednesday, a sharp discount from its record valuation of $95 billion in 2021. “Stripe does not need this capital to run its business,” the company […]
Court Issues Amended Final Judgment Against Penny Stock “Mailman” and His Two Companies
(HedgeCo.Net) The U.S. District Court for the Northern District of Alabama has issued an amended final judgment against Florida resident Brian Robert Sodi and two of his now-defunct companies, Capital Financial Media LLC (CFM) and List Data Solutions LLC (LDS), […]
Dow futures trade flat following Tuesday’s bank stock comeback: Live updates
(CNBC) Stock futures were flat early Wednesday morning after bank shares rallied on Tuesday, and investors shook off fears that recent banking turmoil would spread to the broader sector. Futures tied to the Dow Jones Industrial Average dipped 10 points, […]
Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
(CNBC) Private equity firms Apollo Global Management and KKR are among the parties reviewing a book of loans held by Silicon Valley Bank. Two of those people said Apollo may be interested in acquiring a piece of the business at […]
Meta to lay off 10,000 more workers after initial cuts in November
(CNBC) Meta will lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion, the company announced Tuesday, with CEO Mark Zuckerberg warning economic instability could continue for “many years.” Meta shares closed up 7% […]
SVB’s failure will have a ripple effect across technology ‘for years to come’
(CNBC) Silicon Valley Bank was the backbone of many startups and venture capital funds around the world. The effects of its collapse, the biggest banking failure since the 2008 financial crisis, is likely to be felt across the technology landscape […]
Digital asset fund outflows hit weekly record of $255m
(Hedgeweek) Digital asset investment products saw outflows for the fifth consecutive week last week, totalling $255 million, the largest single weekly outflows on record representing 1.0% of total AuM, according to the latest Digital Asset Funds Flows Weekly report from […]
Hedge funds to profit from bank stock rout, says Goldman
(Hedgeweek) Hedge funds are set to profit from the rout in bank stocks triggered by the sudden demise of Silicon Valley Bank and Signature Bank thanks to bearish positions against the banking sector, according to a report by Reuters. To […]
SEC Obtains Judgment Against Individual in Multi-Million Dollar Securities Offering Fraud
(HedgeCo.Net) The United States District Court for the District of Massachusetts has entered a final judgment against Joshua Dax Cabrera ordering him to pay approximately $1,126,000 in disgorgement, prejudgment interest, and penalties in a securities offering fraud previously filed by […]
Stock futures rise after Dow slides five straight days on bank rout: Live updates
(CNBC) U.S. stock futures rose on Monday night after the Dow Jones Industrial Average notched a fifth day of losses. Traders also looked ahead to a key inflation report due Tuesday. Dow Jones Industrial Average futures rose by 79 points, […]
Something broke, but the Fed is still expected to go through with rate hikes
(CNBC) When the Federal Reserve starts to raise interest rates, it generally keeps doing so until something breaks, or so goes the collective Wall Street wisdom. So with the second- and third-largest bank failures ever in the books happening just […]
Why regulators seized Signature Bank in third-biggest bank failure in U.S. history
(CNBC) On Friday, Signature Bank customers spooked by the sudden collapse of Silicon Valley Bank withdrew more than $10 billion in deposits. That run on deposits quickly led to the third-largest bank failure in U.S. history. Regulators announced late Sunday […]