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☆ Jim Chanos calls suit accusing him of embezzling funds 'baseless and defamatory'
▼ + stars: | 2024-05-29 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Famed short seller Jim Chanos called a lawsuit accusing him of embezzling funds for personal use, "false, baseless and defamatory." "As Mr. Conlon knows, the internal loan was paid off in 2021, and since 2019 I have put over $30 million into my company," Chanos said in the statement. "Indeed, all of my fellow management company partners have lost money over the past few years, none more than me. Mr. Conlon is simply trying to mitigate his losses by this crude shakedown attempt." Meanwhile, the suit said Chanos' girlfriend, Crystal Conners, was the sales agent on the transaction, which would have made $540,000 at standard commission rates, Bloomberg reported.

Persons: Jim Chanos, Chanos, CNBC's Scott Wapner, Sean Conlon, Conlon, Conlon didn't, Tesla, Crystal Conners Organizations: Chanos, Conlon Holdings, Bloomberg News, Enron, Bloomberg Locations: Chicago, New York, Miami

☆ I wanted to make quick money and travel the world — so I moved to Australia and became a FIFO worker
▼ + stars: | 2024-03-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +7 min

AdvertisementThis as-told-to essay is based on a conversation with Cal Mcilwaine , a 29-year-old FIFO worker in Australia. So in June 2023, I left Ireland and moved to Perth, Australia to become a FIFO worker, which stands for "fly in, fly out." Landing a FIFO job in a new country wasn't easyFIFO is an industry that largely exists only in mining fields in Australia, Canada, and Alaska. Within a month of arriving in Australia, I secured a FIFO job. Once I'm done, I plan to get right back into FIFO work for my second year and do it all over again.

Persons: Cal Mcilwaine, —, I, I've, Cal McIiwaine, I'm Organizations: Cal, Service, Alaska . Mining, Cal McIiwaine Locations: Pilbara, Australia, Ireland, Perth, Canada, Alaska, Port Hedland, China, Cal McIiwaine Australia, Bali, Esperance, Vietnam, Thailand, New Zealand, Indonesia, Philippines

☆ Kyrsten Sinema is still sitting on over $11 million in campaign cash — and she could easily use it to fuel her post-Senate life
▼ + stars: | 2024-03-11 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +8 min

At the end of January, the Arizona senator reported holding nearly $10.6 million cash on hand in her campaign account and another $466,000 in her leadership PAC. AdvertisementNow, it's far from clear what will happen to those "resources" — Sinema's campaign did not respond to Business Insider's request for comment last week on the matter. There are a few different ways this could play out if Sinema decides to keep a "zombie PAC" running. Elizabeth Warren and Michael Bennet once introduced a bill to crack down on "zombie PACs." Advertisement"A lot of people use that to stay in the game because a leadership PAC is kind of a slush fund.

Persons: —, What's Sen, Kyrsten Sinema, Ruben Gallego, Kari Lake, Sinema, Arizonans, Saurav Ghosh, Ghosh, That's, Republican Sen, Rob Portman, Portman, Matt Dolan, Anna Moneymaker, he's, Kelly Ayotte, who's, Aaron Scherb, it's, She'd, she'd, Democratic Sens, Michael Bennet of Colorado, Elizabeth Warren of, Elizabeth Warren, Michael Bennet, Bill Clark, Bennet, she's, airfare, Jordan Libowitz Organizations: Service, Senate, Democrat, Democratic Rep, Business, Bloomberg, Republican, American Enterprise Institute, US, Republicans, Democratic, Daily Beast, Citizen, Washington, Commission, PAC Locations: Arizona, Ohio, New Hampshire, Elizabeth Warren of Massachusetts, Washington, Europe

☆ Nikki Haley evades committing to endorse Donald Trump if he wins the Republican presidential nomination
▼ + stars: | 2024-03-03 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Nikki Haley evaded committing to endorse Donald Trump if he wins presidential nominee. The former US Ambassador to the United Nations said she "had serious concerns about Donald Trump." AdvertisementNikki Haley, vying for the Republican presidential candidate nomination, hinted that she might not endorse the GOP presidential nominee if it's former President Donald Trump. Haley said she was not obligated to endorse Trump and insisted that she has "serious concerns about Donald Trump. Haley also criticized the RNC, calling it "Trump's RNC."

Persons: Nikki Haley, Donald Trump, —, Kristen Welker, NBC's Welker, Haley, Trump, Joe Biden, Haley sidestepped, Kamala Harris, Sean Rayford, He's Organizations: NBC, United Nations, Service, Republican, UN, Republican National Committee's, NBC News, RNC, South, Michigan Locations: Conway , South Carolina, Iowa, New Hampshire, Nevada, South Carolina

☆ Nikki Haley says Trump wants to 'control' the RNC and use it as a 'piggy bank' for his legal battles
▼ + stars: | 2024-02-17 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

"We see him trying to get control of the RNC, so he can continue not to have to pay his own legal fees,” she told CNN. Trump's fundraising committees spent roughly $50 million in 2023 on legal fees, FEC filings show. I don't want the RNC to become his piggy bank for his personal court cases," Haley said. “Now we see him trying to get control of the RNC so he can continue not to have to pay his own legal fees,” Haley continued. "All of that is so that he has an arm to pay his legal fees.

Persons: Nikki Haley, ”, Donald Trump, Haley, Kaitlan Collins, Trump, Jean Carroll, Carroll, We've, ” Haley, Michael Whatley, Ronna McDaniel, Lara Trump, Trump's Organizations: RNC, CNN, GOP, Republican National Committee, Senate, North Carolina Republican Party, South Carolina, Republican

☆ Temu's Super Bowl ad reveals we've been saying its name wrong
▼ + stars: | 2024-02-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The ultra-discount retailer Temu bought an eye-popping three $7 million Super Bowl ad spots. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though not quite a rebranding, this pronunciation is new for the two-year-old e-commerce site, which aired its first (single) Super Bowl commercial last year. In that ad, Temu is clearly (and predictably) pronounced "tee-moo." Those results make the estimated $21 million look like money well spent for Temu's parent company, PDD Holdings.

Persons: —, PDD Organizations: Temu, Service, Super, PDD Holdings, JPMorgan Locations: Temu, China

☆ Nicki Minaj fans say they're losing respect for the rapper amid her 'embarrassing' attacks on Megan Thee Stallion
▼ + stars: | 2024-01-29 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +6 min

Nicki Minaj recently released a new diss track, "Big Foot," aimed at Megan Thee Stallion. lied on yo DEAD @theestallion — Nicki Minaj (@NICKIMINAJ) January 28, 2024Minaj has continued to post incessantly about Megan on X (formerly Twitter). "Big foot but you still a small fry / Swearing on your dead mother when you lie," she raps. "There are myriad of ways that Nicki Minaj has come for other women, just point-blank period," the TikToker said. Nicki Minaj allowed her own bitter jealousy to take her crown."

Persons: Nicki Minaj, Megan Thee Stallion, —, Megan Thee, Megan, Megan didn't, Minaj, Kenneth Petty, Petty, Tory Lanez, Ben Shapiro, Shapiro, Cardi, it's, Pardison, Fontaine, who's, Pardi, Minaj's, she's, @lawyerbae, Gerrick Kennedy, Piggy ”, — Gerrick Kennedy, @GerrickKennedy, Piggy, Kennedy, nicki, meg rn pic.twitter.com, megan, QmThqEbkOC Organizations: Service, Megan's, Houston Locations: New York

The world also said goodbye to former U.S. Secretary of State Henry Kissinger, who died Nov. 29. Political Cartoons View All 1277 ImagesAnother political figure who died this year was former U.S. first lady Rosalynn Carter, who died Nov. 19. Among the entertainers who left the world this year was singer Tina Turner, who died May 24. Here is a roll call of some influential figures who died in 2023 (cause of death cited for younger people, if available):___JANUARY___Fred White, 67. A Hall of Fame forward who helped the Chicago Blackhawks win the 1961 Stanley Cup Final.

Persons: Wagner, Yevgeny Prigozhin, Prigozhin, Vladimir Putin’s, Henry Kissinger, Rosalynn Carter, Jimmy Carter, Silvio Berlusconi, Dianne Feinstein, James Buckley, James Abourezk, Nigel Lawson, Pervez Musharraf, Sandra Day O’Connor, Li Keqiang, Martti Ahtisaari, United Nations Bill Richardson, Gov, Sheila Oliver, Theodoros Pangalos, Tina Turner, Ike Turner, Suzanne Somers, Matthew Perry, Raquel Welch, Richard Belzer, Chaim Topol, Jacklyn Zeman, Lance Reddick, Alan Arkin, Paul Reubens, David McCallum, Richard Roundtree, Tom Sizemore, Jimmy Buffett, Sinéad O’Connor, Rita Lee Jones, Burt Bacharach, David Crosby, Fito Olivares, Ryuichi Sakamoto, Astrud Gilberto, Coco Lee, Tony Bennett, Harry Belafonte, Cormac McCarthy, William Friedkin, Bob Barker, Jerry Springer, Louise Glück, Jeff Beck, Mary Quant, Kaija Saariaho, Lloyd Morrisett, Fred White, Maurice, Verdine White, Ken Block, Walter Cunningham, Fay Weldon, ” Jan, Russell Pearce, Charles Simic, Lynette “ Diamond ” Hardaway, Donald Trump, Diamond, Constantine, Jan, Tatjana Patitz, George Michael’s, Lisa Marie Presley, Elvis Presley, Robbie Knievel, Evel Knievel, Ray Cordeiro, Elmo, Cookie, Gina Lollobrigida, Chris Ford, Crosby, Stills, Nash, Young, Cindy Williams, Shirley, “ Laverne, Billy Packer, Sylvia Syms, Alex ”, Barrett Strong, Norman Whitfield, “ Papa, Rollin ’ Stone, Tom Verlaine, Patti Smith, Bobby Hull, Paco Rabanne, Harry Whittington, Dick Cheney, Hsing Yun, ”, San Jose ”, Carlos Saura, Spain’s, Hugh Hudson, Oscar, “ Greystroke, Hans Modrow, David Jude Jolicoeur, Huey “, ” Smith, Little Richard, Lloyd Price, “, Leiji Matsumoto, Yamato ”, Tim McCarver, Stella Stevens, Jerry Lewis’s, John Munch, Ahmed Qureia, Betty Boothroyd, Ricou Browning, Gill, Gérard Latortue, Fontaine, Barbara Everitt Bryant, Ryan ”, Kenzaburo Oe, Judy Heumann, Gary Rossington, Lynyrd Skynyrd, Georgina Beyer, Traute Lafrenz, Rose, Peterson Zah, Tevye, Robert Blake, Jiang Yanyong, Bud Grant, Dick Fosbury, Pat Schroeder, Gloria Bosman, Jacqueline Gold, Britain’s Ann Summers, John Wick ”, John Jenrette, Juana La, Willis Reed, Darcelle, Paul O’Grady, Lily Savage, Emperor ”, Hedda Kleinfeld Schachter, Margaret Thatcher, Ben Ferencz, Nuremberg, Elisabeth Kopp, Michael Lerner, Jack Lipnick, “ Barton Fink, Bugsy Calhoun, Anne Perry, Thomas Pitt, William Monk, Al Jaffee, magazine’s, Charles Stanley, Richard Riordan, Todd Haimes, Tony Awards, Barry Humphries, Tony, Dame Edna Everage, Len Goodman, Carolyn Bryant Donham, Emmett Till, LeRoy “ Lee ” Carhart, Larry “, ___ Gordon Lightfoot, Tori Bowie, Vida, Grace Bumbry, Rock ”, Ovelha, Denny Crum, Heather Armstrong, Bobbie Spencer, Rolf Harris, Kenneth Anger, Doyle Brunson, Jim Brown, Timothy Keller, Andy Rourke, Ray Stevenson, Thor ”, Ed Ames, George Maharis, Carroll Cooley, Miranda, John Beasley, Kaija, George Winston, Ipanema ”, Robert Hanssen, Richard Snyder, Simon & Schuster, Françoise Gilot, Pablo Picasso —, Pat Robertson, Theodore “ Ted ” Kaczynski, Roger Payne, Treat Williams, Glenda Jackson, Daniel Ellsberg, Richard Nixon, Big, George Frazier, Lee Sarokin, Rubin “, ” Carter, Winnie Ewing, Sheldon Harnick, Jerry Bock, “ Fiorello, John Goodenough, Peg Yorkin, Sue Johanson, Yan Mingfu, John Berylson, James Lewis, poisonings, Mikala Jones, André Watts, Jane Birkin, Kevin Mitnick, San Francisco ”, Frank Sinatra, Lady Gaga, Hugh “ Sonny ” Carter Jr, Jimmy, Randy Meisner, Herman, Angus Cloud, Fezco, ” O’Neill, ___, Mark Margolis, Hector Salamanca, Saul, Sixto Rodriguez, flamed, Robbie Robertson, Tom Jones, Magoo, Timbaland, Aaliyah, Missy Elliott, Clarence Avant, Quincy Jones, Bill Withers, Ada Deer, Jerry Moss, Herb Alpert, Alpert, Michael Parkinson, Muhammad Ali, Miss Piggy, Jiri Cerny, Betty Tyson, Richard Nixon’s, John Warnock, Ron Cephas Jones, Howard Hubbard, Samuel “ Joe ” Wurzelbacher, Joe, Barack Obama, Gil Brandt, Tom Landry, Tex Schramm, Bill Richardson, Steve Harwell, Shabtai Shavit, Jordan, Ian Wilmut, Dolly, Prince Mangosuthu Buthelezi, Roy Kidd, Eno Ichikawa, Michael McGrath, Fernando Botero, Giorgio Napolitano, Matteo Messina Denaro, Michael Gambon, Albus Dumbledore, Harry Potter ”, Mankombu Sambasivan, Saad Eddin Ibrahim, Hosni Mubarak, Tim Wakefield, Dick Butkus, Michael Chiarello, Michael Chiarello ”, Masters, Burt Young, Paulie, Sylvester Stallone, Hughes Van Ellis, Kevin Phillips, Louise Meriwether, Mark Goddard, Major Don West, Rudolph Isley, Isley, unblinking, Piper Laurie, Chrissy Snow, Bobby Charlton, Bishan Bedi, Richard Moll, Xi Jinping, Wu Zunyou, Chandler Bing, Ken Mattingly, Bob Knight, Frank Borman, Steve Norton, Don Walsh, Mariana Trench, Terry R, Taylor, Daisaku Ikeda, Herbie Hancock, Bobby Ussery, George “ Funky ” Brown, Joanna ”, Marty Krofft, Pufnstuf, Donny, Marie ”, Terry Venables, Tim Dorsey, Serge A, Frances Sternhagen, ” “, Charlie Munger, Warren Buffett, Berkshire Hathaway, Gerald Ford, Shane MacGowan, Bernard McGhee Organizations: Wagner Group, Russian, White House, U.S, Supreme, United Nations, Greek Foreign, Republican, Hong, Boston Celtics, NBA, NBC, CBS, Television, Fame, Chicago Blackhawks, ”, New, of Fame, Louis Cardinals, “, Palestinian, Israel, South Dakota Democrat, Arab, Arab American U.S, Britain’s, Commons, . Census Bureau, Alabama ”, Zealand, Navajo, Minnesota Vikings, People, Playboy, Capitol, Juana La Cubana, New York Knicks, Guinness, World Records, Hollywood, Treasury, Southern Baptist Convention, Los Angeles, Roundabout Theatre Company, Air Force, Harlem Globetrotters, Janeiro Games, baseball’s, Germany’s Bayreuth, NCAA, Hall of Famer, Redeemer Presbyterian Church, Legion, Ames, Phoenix, FBI, Simon &, Christian Broadcasting Network, Republican Party, Christian Coalition, Harvard, Feminist Majority Foundation, “ Little, Communist Party, Millwall, New York Philharmonic, San, Brigade, Wing, Eagles, HBO, of Indian Affairs, M, Police, Carpenters, Adobe Systems, Pro Football Hall of Fame, Dallas Cowboys, escapist, Democratic, Zulu, Eastern, AA, Broadway, Communist, U.S . Senate, Red Sox, Yankees, Boston, Chicago Bears, Major, Isley Brothers, New York Times, Manchester United, India, Indiana, Nevada — Resorts, Atlantic City —, Navy, Associated Press, Soka Gakkai, Kentucky Derby, Kool, The, European, Barcelona, Tottenham, City Locations: Russia, Ukraine, Bakhmut, Russian, U.S, Finnish, New Mexico, New Jersey, British, Greece, American, Hong Kong, Italian, America, New York, Spanish, catwalks, Texas, Taiwan, Pakistan, Afghanistan, San, New Orleans, Rosebud, Arab American, Haiti, “, African, Brooklyn, London, Los, Mississippi, United States, Rivers, Georgia, Savannah, Louisville, New York City, Irish, HBO’s “ Rome, Brazilian, Ipanema, Moscow, Virginia, Montana, Vietnam, Canada, Asia, Chicago, Hawaii, France, South Africa, Wisconsin, Los Angeles, Czech, Eastern Kentucky, Colombian, ”, California, Tulsa, Finland, China, Nevada, Atlantic City, Florida, Berkshire

☆ Netflix Builds a ‘Squid Game’ Universe as It Awaits a Second Season
▼ + stars: | 2023-12-02 | by ( Nicole Sperling | ) www.nytimes.com time to read: +1 min

On the same soundstage where Bob Barker lorded over “The Price Is Right,” “Squid Game” is coming to life. On Wednesday, Netflix will unveil its latest live experience, based on the dystopian hit show in which desperate South Koreans competed in a brutal contest of simple schoolyard games for a prize of 45.6 billion won (around $38 million). If they chose incorrectly, they descended hundreds of feet to their death. To feel even more like a character on the show, customers can buy a tracksuit for $50 and wear it during the experience. ticket option: In a nod to the original, you can watch the unfortunate masses compete in the games while you sip cocktails in a swanky lounge.

Persons: Bob Barker lorded, Losers Organizations: Netflix

☆ Palestinian man grieves for 3-year-old granddaughter killed as she slept in Gaza
▼ + stars: | 2023-11-29 | by ( Jomana Karadsheh | Florence Davey-Attlee | ) edition.cnn.com time to read: +6 min

CNN —Picking through the rubble of his destroyed home, Khaled Nabhan lifts a doll that had belonged to his granddaughter and kisses it. Khaled said he woke up screaming for his children and grandchildren, struggling to walk through the dark and the wreckage to find them. In one clip, Nabhan throws his granddaughter into the air and catches her while Reem giggles with delight. In the battered bedroom of their house in Gaza, Nabhan showed CNN where his daughter Maysa — Reem and Tarek’s mother — was sleeping when the house collapsed. Reem Nabhan.

Persons: Khaled Nabhan, Tarek, Nabhan, “, ”, Clutched, Khaled, CNN Nabhan, Reem, “ I’ll, Maysa —, —, Maysa, ” Maysa, Reem Nabhan, António Guterres, Israel, Reem's, ” Nabhan Organizations: CNN, Palestinian Ministry of Health, West Bank, UN, ” Locations: Al Nuseirat, Gaza, Israel

☆ Why American consumers may finally slow their spending, in charts
▼ + stars: | 2023-11-26 | by ( Christopher Hickey | ) edition.cnn.com time to read: +5 min

Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season. Here are the pressures consumers are facing that could cause a spending slowdown. Keeping up with high prices not only has led to more credit card debt, but also more consumers are falling behind on the payments. Since the first quarter of 2022, the rate of newly serious delinquent credit card debt has risen roughly 90%. And that would mean Americans may be forced to finally pull back on their post-Covid spending spree.

Persons: “, ”, Erik Lundh, Freddie Mac, ” Lundh, Lundh, they’ve Organizations: Conference, Intercontinental Exchange, ICE, New York Federal Reserve, Social Security Administration, San Francisco Federal Reserve, SF Fed, New York Fed, Covid Locations: people’s

☆ The best-performing ETF of the year might get its leverage amped up in 2024
▼ + stars: | 2023-11-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

ETF issuer GraniteShares filed Wednesday to increase the leverage on dozens of single stock ETFs, most notably the GraniteShares 1.5x Long NVDA Daily ETF (NVDL) . NVDL YTD mountain This leveraged Nvidia single-stock ETF is the top performing U.S. ETF of the year. Single-stock ETFs are structured to produce a leveraged return on a one-day basis, poisitively or inversely, depending how it's structured, and resetting every day. Single-stock ETFs were first approved in the U.S. in 2022, and the launches have been hit and miss so far. The tweak would bring the NVDL's leverage in line with the T-REX 2X Inverse Nvidia Daily Target ETF (NVDX) , which was introduced in October.

Persons: GraniteShares, There's, Will Rhind, Rhind Organizations: Nvidia, ETF, CNBC, Target Locations: U.S, United States

☆ The Best Savings Accounts for Kids and Teens
▼ + stars: | 2023-11-22 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +11 min

Best overallCapital One Kids Savings Account Learn MoreAge to open: under 18Interest rate: 2.5%, with no cap$0 to openNo maintenance feesWhy we picked it:Capital One’s Kids Savings Account delivers everything a parent could want in a place to stash their child’s funds: It’s easy to use, fee-free, and generously rewards kid savings of any size. On your child’s 13th birthday, the account will be converted into a MyLife Teen Checking or MyLife Savings account. Older savers should consider our best overall pick, the Capital One Kids Savings Account, or our choice for best teen savings account, the MySavings Youth Account from Chevron Financial Credit Union and Spectrum Credit Union. For instance, a kid with $2,500 in the account would net $81 in a year vs. only $63 with Buy Side from WSJ’s best overall pick, Capital One’s Kids Savings account. Also worth noting: Alliant’s adult offering, the High-Rate Savings account, is Buy Side from WSJ’s top choice for a credit union savings account thanks to its identical 3.1% payout and lack of fees.

Persons: Kerri Anne Renzulli, don’t, One’s, USAlliance, Best, Foster, Alliant, Cookie, Elmo Organizations: Capital, Capital One’s, Financial, Union MyLife Savings, Savings, Kids, American Consumer Council, Chevron Financial Credit Union, Spectrum Credit Union, Chevron Federal Credit Union, Chevron Corporation, Bechtel Corporation, Federal, Foster Care, Bank, PNC Bank’s, PNC, D.C Locations: Washington

☆ From a homeless shelter to saving six figures and buying her first home: A 34-year-old opens up about her struggles with money and the 5 adjustments that changed her finances
▼ + stars: | 2023-11-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +10 min

Ojekunle's debit card, which was linked to her parents' bank account, was declined after she attempted to pay for a few items at the grocery store. "That's like life-changing money," Ojekunle said. Becoming a big saverA big part of financial stability is psychological, and financial trauma is real, she noted. As she got into the habit of saving, she began transferring money directly to the account. According to a screenshot of her bank account viewed by Insider, she was also able to save over six figures before purchasing her home.

Persons: Niké Ojekunle, Ojekunle, I'm, Barnes, Noble, Rich Dad Poor Dad, spender, TikTok, lockdowns, I've Organizations: Business, Nissan, Apparel, Hyundai, Adidas, Food, Costco Locations: Los Angeles, Florida

The witnesses painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified.

Persons: Sam Bankman, Fried, Bankman, Caroline Ellison —, Adam Yedidia, Mr, Yedidia, FTX, ” Caroline Ellison Ms, Ellison, Ms, Gary Wang Mr, Wang, ”, coder, Nishad Singh Mr, Singh, Gabe, Gabe Bankman, ” Mr, Prosecutors, Barbara Fried, Nishad Singh, Sun, ’ Organizations: Alameda Research, Massachusetts Institute of Technology, Stanford, Mr, Prosecutors, America Locations: Bahamas, Alameda, Binance, Pandemics

☆ Sam Bankman-Fried’s fourth day on the stand is not going well
▼ + stars: | 2023-10-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —Sam Bankman-Fried is back in court Tuesday for a fourth day of testimony as his federal fraud trial continues. Bankman-Fried testified that he attended a dinner with the island nation’s prime minister, alongside former US president Bill Clinton and former UK Prime Minister Tony Blair. In November last year, after FTX had frozen customer withdrawals amid a liquidity crunch, Bankman-Fried offered to open up withdrawals for all Bahamian customers. Bankman-Fried testified he did open those withdrawals “for a short period.”Bankman-Fried also testified that he doesn’t recall ever directing Alameda employees not to spend the FTX customer deposits. ‘Uninvolved’ in AlamedaMark Cohen, Bankman-Fried’s lead attorney, gave him a chance Tuesday morning to clarify some of his testimony regarding the relationship between FTX and Alameda.

Persons: Sam Bankman, Bankman, Fried, Danielle Sassoon, Bill Clinton, Tony Blair, FTX, ”, Alameda Mark Cohen, SBF, “ Organizations: New, New York CNN, Prosecutors, Alameda Research, Bankman, Bahamian, Alameda Locations: New York, Bahamas, Alameda, FTX

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

The wait for Sam Bankman-Fried’s testimony will be a little longer. Judge Lewis A. Kaplan, who is overseeing the disgraced crypto mogul’s federal criminal trial, sent jurors home on Thursday afternoon just before Mr. Bankman-Fried was expected to take the stand. Judge Kaplan opted instead for a hearing to discuss pending testimony from Mr. Bankman-Fried, who founded the FTX cryptocurrency exchange, with regard to his reliance on company lawyers in making decisions. The jury will return on Friday, when Mr. Bankman-Fried is expected to testify. Mr. Bankman-Fried, 31, has pleaded not guilty to seven counts of fraud, conspiracy and money laundering.

Persons: Sam Bankman, Judge Lewis A, Kaplan, Fried, Judge Kaplan, FTX

On the second day of Sam Bankman-Fried’s fraud trial this month, one of the lawyers for the cryptocurrency mogul delivered an emphatic message to the jury. He lied repeatedly, they said, running roughshod over his top lieutenants and directing them to treat customer deposits as if FTX were a piggy bank. The testimony has dealt a blow to Mr. Bankman-Fried’s “good faith” defense, which will be put to the test this week. At a hearing on Wednesday, Mark Cohen, a defense lawyer, confirmed that Mr. Bankman-Fried, 31, would take the stand. But given the prosecution’s success in building its case, legal experts said, it was all but inevitable that Mr. Bankman-Fried would want to tell the jury his side of the story.

Persons: Sam Bankman, FTX, Bankman, Mark Cohen Locations: Manhattan

☆ 'Girl math' is toxic and it could be holding women back from growing wealth, says a financial specialist
▼ + stars: | 2023-10-18 | by ( Zoe Burt | ) www.businessinsider.com time to read: +7 min

To Burt, the viral TikTok trend #girlmath reiterates the stereotype that women are bad at math. But often it's more overt, as with TikTok's most recent viral trend: "girl math." AdvertisementAdvertisementWhy girl math is a negative trendSeemingly lighthearted, the hashtag plays into a damaging stereotype that women are bad at math. Girl math doubles down on gendering lavish spendingThe #girlmath trend focuses on "feminine" spending habits as lavish — another common stereotype of women and money management. Women's financial literacy is an important issueThe girl-math trend brings women's financial literacy and investing into the limelight.

Persons: Zoe Burt, Burt, —, Caroline Criado Perez, Tamina, Shakuntala Devi, Elon Organizations: Service, Evening, New Zealand, Fiscal Studies, Guardian, Behavior, Organization, Fidelity, Twitter, Invest, deVere Italia

☆ Sam Bankman-Fried’s former girlfriend set to testify for second day in fraud trial
▼ + stars: | 2023-10-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

On her first day of testimony, Ellison said Tuesday that she and Bankman-Fried, along with other associates, committed fraud and money laundering, and that he “set up the systems that allowed Alameda” to siphon money from FTX customer accounts. Prosecutors accuse Bankman-Fried, 31, of orchestrating a scheme to steal billions of dollars from customer accounts in FTX, his now-bankrupt crypto trading platform. If she were given a maximum sentence on the seven counts, she could face more than 100 years in prison. Her testimony is considered crucial to prosecutors’ case that SBF used both FTX and Alameda as his own personal piggy bank. If found guilty of all seven criminal counts and given the maximum sentence, Bankman-Fried faces the prospect of 110 years in prison.

Persons: Sam Bankman, Fried, Caroline Ellison, Ellison, Bankman, ” Ellison, “ Organizations: New, New York CNN, Alameda Research, Stanford Locations: New York, Alameda, FTX

☆ Sam Bankman-Fried trial: Caroline Ellison is getting ready to testify against FTX founder
▼ + stars: | 2023-10-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Her testimony is crucial to prosecutors’ case against Sam Bankman-Fried, whom they accuse of orchestrating a scheme to steal billions of dollars from customer accounts in FTX, his now-bankrupt crypto trading platform. Caroline Ellison, former CEO of Alameda Research. carolinecapital/XProsecutors’ case hinges on evidence that FTX and Alameda were deeply financially intertwined, despite repeated assurances from Bankman-Fried that they were separate companies, operating independently from one another. As Alameda was spiraling last fall, Ellison told her employees that the fund had borrowed money from FTX customer accounts to pay back lenders. Already, prosecutors have presented evidence that looks bad for Bankman-Fried, though the defense has yet to present its case.

Persons: CNN Business ’, Caroline Ellison, Sam Bankman, Ellison, FTX’s, ‘, — Ellison, SBF, ” Ellison, “, Fried, Sam Organizations: CNN Business, New York CNN, Alameda Research, Stanford, New York Times Locations: New York, FTX, Bankman, Alameda, Manhattan

After years of denying myself, I experienced "frugality fatigue" and went on a splurging binge. I added fun spending and a weekly treat to my budget so I don't feel deprived. Frugality fatigue led to overspendingI realized I was experiencing "frugality fatigue." I made 2 important changes to my budgetThe key to avoiding frugality fatigue comes in allowing small splurges or occasional unnecessary spending. I added 'fun spending' to my budgetBefore my mindset switch, I felt guilty about buying things for myself.

Persons: —, I'd, frugality, overspending, I've, I'm, it's Organizations: Service

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