FTX Gains Approval to Sell LedgerX, Embed, and Europe, Japan Entities

FTX has received a court’s permission to sell CFTC-regulated derivatives exchange LedgerX LLC, the equities -trading platform Embed Technologies, FTX Japan Holdings, and FTX Europe. All these four businesses ran independently of the now-collapsed parent crypto exchange, FTX International. The court’s permission came after the management of FTX management sought permission to offload the four subsidiaries that were acquired relatively

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UK Sends a Gang of Four to Prison for £21M Crypto Fraud

A UK Court has sentenced four fraudsters to 15 years in jail for their involvement in making a loss of £21 million to an Australian cryptocurrency exchange. All four fraudulently obtained and laundered Bitcoin and other cryptocurrencies worth tens of millions of pounds from the exchange platform. The four perpetrators – Stephen William Boys, 58, Kelly Caton, 44, Jordan Kane

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: ‘We’ve really lost a decade to lip service about inequality’: World’s richest 1% captured almost two-thirds of all new wealth created in two years, report says

For every dollar of new global wealth earned by a person in the bottom 90% during the first two years of the COVID-19 pandemic, a billionaire got $1.7 million, according to a new analysis from the anti-poverty group Oxfam. That means that even in an era marked by the pandemic, nearly 15 million excess deaths and rising consumer prices, the

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Key Words: Former FTX US head had months of disputes with Bankman-Fried: ‘I realized he wasn’t who I remembered.’

Brett Harrison, former head of the U.S. arm of FTX, distanced himself from the crypto exchange co-founded by Sam Bankman-Fried, which filed for bankruptcy back in November. Harrison, who resigned as FTX US’s president in September, wrote about his experience with the company in a 49-part Twitter thread published Tuesday. Harrison had rarely made any public comments about FTX and

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The Moneyist: ‘She never has enough money’: I was adopted by a wealthy family, but my biological grandma says I need to financially support her — and buy her a condo

Dear Quentin, My biological mom died when I was a toddler, and the state felt that my grandmother wasn’t appropriate as a placement given that they found she had mental-health issues at that time. I was adopted by an upper-class family, and all communication with my biological grandma was prohibited after the adoption.  Fast forward to when I turned 18

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Outside the Box: On MLK Day, let’s remember that Martin Luther King’s dream included full employment for all

Two years after Martin Luther King Jr. described his famous dream at the 1963 March on Washington, he confessed to his congregation at Ebenezer Baptist Church in Atlanta that the “dream has often turned into a nightmare.” His dream was “shattered” by continued violence against civil-rights activists in the South, but also by the “sense of utter hopelessness” that King

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Market Snapshot: Investors are ‘desperate’ for a recession that forces the Fed to pivot but what happens to markets if the economy remains healthy this year ?

As 2023 gets underway markets are clinging to expectations that the U.S. economy will slide into a recession that effectively forces the Federal Reserve to start cutting interest rates, lower bond yields and borrowing costs, and perhaps help stock market valuations. While such an outcome may, at least in theory, help to repair investors’ badly beaten portfolios after one of

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Crypto: ‘It’s incredibly foolish’: former federal prosecutor comments on Sam Bankman-Fried’s Substack

Sam Bankman-Fried has the right to remain silent. But he refuses to do so. On Thursday, the former CEO of bankrupt crypto exchange FTX launched a Substack newsletter, while on house arrest that details his version of events around FTX international’s insolvency, an overview of what happened at FTX, including the crash in November, other things. In the newsletter, Bankman-Fried

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: ‘This is our shot’: Evanston’s road to reparations gets a documentary spotlight on Martin Luther King Jr. Day

A documentary about the emotional and groundbreaking fight for reparations in a Chicago suburb will premiere on PBS on Martin Luther King Jr. Day — and chronicles “history in the making,” its filmmakers say. “The Big Payback,” which made its public debut last summer at the Tribeca Film Festival, shines a light on the first publicly funded reparations for Black

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Deep Dive: These numbers make Delta Air Lines’ stock the best bet among U.S. carriers for 2023 and 2024

(Updated with prices and returns through Jan. 12 and consensus estimates early on Jan. 13 following Delta’s earnings announcement.) U.S. airlines began their flurry of fourth-quarter earnings reports on Jan. 12, when Delta Air Lines Inc. announced its results. Latest Delta coverage: Here’s what Delta Air earnings say about the rest of the industry Delta Air Lines’ Q4 results beat

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Visa Backed Debit Card From Huobi And Solaris Launches In EU

Visa has supported a partnership by Huobi and Solaris to allow their European users to make payments from their crypto account using Visa-backed debit cards. Creating diverse payment options (with both fiat and digital currencies) as Blockchain innovations evolve has become part of the mission of many financial institutions. Visa, a trusted leader in the digital payment industry, is also

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Capitalix Review: CFDs and Forex Trading Simplified

You’re ready to venture into the world of crypto CFDs and Forex trading, but where do you start? Well, the first step in trading is to find a broker, but with numerous brokers and platforms out there, knowing which one is right for you can be difficult. Capitalix is a broker that has been around for a few years and

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: JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?

Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keeping their heads above water. A day after December inflation data showed price increases coming off the boil – but still high — fourth-quarter earnings showed some signs of consumer slowdown

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Currencies: As U.S. dollar stumbles, soaring Japanese yen is ‘hottest story in town’. Here’s why.

It’s the comeback currency. The Japanese yen, among the world’s worst-performing major currencies in 2022, roared back to a seven-month high versus a now-reeling U.S. dollar on Friday, as traders bet the Bank of Japan will finally join other major central banks in tightening monetary policy. A December reading Thursday on U.S. inflation that was in line with expectations “has

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Washington Watch: Yellen says U.S. will hit debt ceiling Thursday. Analysts warn of ‘significant market pain’ while Congress deals with limit.

Treasury Secretary Janet Yellen on Friday warned top U.S. lawmakers that the federal government is expected to hit its ceiling for borrowing next week and urged them to “act in a timely manner to increase or suspend the debt limit.” “I am writing to inform you that beginning on Thursday, January 19, 2023, the outstanding debt of the United States

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Earnings Results: JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about ‘headwinds’ remain

JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates boosted income from loans. The banks turned in stronger-than-expected results despite a slowdown in overall deal activity such as home mortgage loans and initial public offerings. Bank stocks moved into

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: Drug companies plan to raise prices on vital medicines to fund R&D, but they already spend more on shareholder returns

Drug companies planning to raise prices on cancer drugs and other life-saving treatments are justifying the move by claiming it’s necessary to fund research and development, but the claim rings hollow given that they spend more on shareholder rewards than on R&D, according to a new study. Accountable.US, a liberal-leaning consumer-advocacy group, found that in the period from 2019 to

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Coronavirus Update: New COVID subvariant is now dominant across the U.S., accounting for 43% of all new cases in latest week, CDC says

The XBB.1.5 omicron subvariant that has been dominant in the Northeast for several weeks is now officially dominant across the U.S., according to an update from the Centers for Disease Control and Prevention early Friday. XBB.1.5 accounted for 43% of all COVID cases in the week through Jan. 14, pulling ahead of BQ.1.1, which accounted for 28.8% of new cases,

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