Failed crypto exchange FTX Trading Ltd. lacked a control framework, and collapsed due to “hubris, incompetence, and greed,” according to a new review of FTX, which mentioned that the previous management “stifled dissent” and “joked internally about their tendency to lose track of millions of dollars in assets.” The review was published as an interim…
Venture Capital Funding for Start-Ups Plummets, Fewest Deals in Five Years
April 6, 2023
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Venture capital funding for start-ups plummeted by more than half in the first quarter of 2023 compared with the year before. The period saw a massive slowdown in the tech industry, as the number of new funding agreements fell to less than 3,000, a 55 percent decline and the lowest level in more than five years. American-based…
San Francisco Police Chief Releases Statement After Cash App Founder Bob Lee Stabbed to Death
April 6, 2023
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Business & MarketsCaliforniaCash AppCompaniesCrime and IncidentscryptocurrencyMarketsMedia & Big TechNorthern CaliforniaPublic SafetyRegional & State NewsSan FranciscostabbingState NewsUSUS News
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The San Francisco police chief has released a statement following the stabbing death of Cash App founder Bob Lee in the city on April 4. Lee, 43, was found by officers in the early hours of Tuesday morning suffering from apparent stab wounds and transported to a local hospital with life-threatening injuries, according to the San Francisco Police…
Cash App Founder Stabbed to Death in San Francisco
April 5, 2023
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Bob Lee, the creator of the mobile payment service Cash App and the former chief technology officer of Square, has been stabbed to death in San Francisco. The 43-year-old tech executive was found by officers in the early hours of April 4, after suffering multiple stab wounds. The San Francisco Police Department (SFPD) said there had…
Dollar Gains as Surprise OPEC+ Cut Adds to Inflation Conundrum
April 3, 2023
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SINGAPORE/LONDON—The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting. The announcement on Sunday by the Organization of the Petroleum Exporting…
Elon Musk Seeks to End $258 Billion Dogecoin Lawsuit
NEW YORK—Elon Musk asked a U.S. judge on Friday to throw out a $258 billion racketeering lawsuit accusing him of running a pyramid scheme to support the cryptocurrency Dogecoin. In an evening filing in Manhattan federal court, lawyers for Musk and his electric car company Tesla Inc. called the lawsuit by Dogecoin investors a “fanciful…
The (Block) Chaining of America
March 29, 2023
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Commentary We live in the Age of Deception. Calling something what it truly is, is a rarity these days. Big Lies, Bad Outcomes, and No Consequences For example, the Biden administration’s “Inflation Reduction Act” actually raised prices on fuel and utilities, hurting middle-income Americans the worst. The law did exactly the opposite of what the…
Dollar Steadies in Uneasy Market Calm
TOKYO/LONDON—The dollar edged up against most major peers on Wednesday, steadying after recent declines, and gaining sharply against the yen which was volatile as the end of the Japanese fiscal year approaches. The dollar index, which tracks the currency against six peers, gained 0.15 percent to 102.64. It has fallen for the past two sessions,…
Dollar Slips as Banking Sector Fears Ease, Yen Climbs
LONDON/TOKYO—The U.S. dollar fell slightly on Tuesday as receding fears of a full-blown banking crisis slowed demand for so-called safe haven assets. The yen rallied, despite traditionally also being a safe haven, with analysts pointing to a pick-up in flows ahead of the end of Japan’s fiscal year on Friday. The dollar fell as low…
Crypto Platform Binance Sued by CFTC Over ‘Secret Plot’ to Evade US Laws
The Commodity Futures Trading Commission (CFTC) has sued crypto platform Binance and several top executives, alleging that they offered unregistered crypto futures and other derivatives for trading in the United States in violation of U.S. laws and devised a “secret plot” to help customers evade restrictions. Binance stands accused of running a cryptocurrency derivatives-trading operation…
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