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She says everyone should invest in crypto, but not if you're investing money you can't afford to lose. Exchange-traded funds or mutual fundsExchange-traded funds (ETFs) and mutual funds are a great way to buy into the market without cherry-picking individual stocks, says Tu. Mutual funds, on the other hand, are a group of stocks and other assets typically handled by a fund manager to maximize profits. Real estate investment trustsA real estate investment trust (REIT) is a company that owns, operates, and invests in income-producing rental properties. With some of the best real estate investing apps, you can start investing with as little as $10.

Persons: Wall Streeter Vivian Tu, —, Vivian Tu, doesn't, They're Organizations: Service, Exchange, Mutual, Apple, Disney Locations: YOLO, cryptocurrency

☆ Millennials Big Money Mistake: Holding Cash Instead of Buying Stocks
▼ + stars: | 2024-10-24 | by ( Callie Cox | ) www.businessinsider.com time to read: +10 min

This, despite the fact that younger investors were more optimistic about the economy, their incomes, their living situations, and their investments. Millennial investors have been deeply scarred by two life-changing crises in their young lives. But if you look at hard numbers from the Federal Reserve about what millennial investors actually own, you can see that this stereotype is misguided. When you compare millennials' cash levels with Gen X's cash levels at the same age, though, the risk aversion becomes clear. But when it comes to younger investors, I think the scars run deeper than worries about a coming downturn.

Persons: Cash, it's, millennials, Gen Xers, boomers, There's, would've, you'd Organizations: Bank of, Federal Reserve, University of Michigan, Occupy, Dow, Netflix Locations: eToro, United States, YOLO

☆ 'Perfect Wife' is based on the true story of a woman who faked her kidnapping. Here's what happened to Sherri Papini.
▼ + stars: | 2024-06-21 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +4 min

Read preview"Perfect Wife: The Mysterious Disappearance of Sherri Papini" tells the story of a woman who went missing on November 2, 2016, after she staged her own kidnapping. The Hulu true crime docuseries details how Sherri Papini was found 22 days later in Yolo County, California, near Interstate 5, some 150 miles away from her home in Redding, California. AdvertisementShe signed a plea deal admitting that she had lied to the authorities and that the kidnapping never happened. Papini was released from prison in 2023Sherri Papini leaves the federal courthouse after being sentenced to 18 months in prison in September 2022. Rich Pedroncelli/APAccording to the Federal Bureau of Prisons, Papini was officially released from prison on September 29, 2023.

Persons: —, Sherri Papini, James Reyes, Denise Huskins, Matthew Muller, Papini, Reyes, Keith Papini, Rich Pedroncelli, Papini's, I've, Violet, Tyler Organizations: Service, Business, Netflix, FBI, Federal Bureau of Prisons, CBS News, Redding, USA Locations: Yolo County , California, Redding , California, Costa Mesa, Sacramento , California, California

☆ RV sales are picking up. That’s a good sign for the economy
▼ + stars: | 2024-06-16 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

When consumer sentiment falters or the economy starts to teeter, RV sales follow suit, said Michael Hicks, an economics professor at Ball State University and director of Indiana University’s Center for Business and Economic Research. “People don’t make these large, luxury purchases unless they’re actually feeling better about the economy,” said Hicks, who follows the RV industry closely. “It’s so sensitive to interest rate changes, which often precede a downturn.”A Winnebago travel trailer at Motor Sportsland RV dealership in Salt Lake City on April 6, 2020. Nika Shneyder and her father and business partner, Alex Shneyder, standing by a Chill RV in Malibu RV Park, California, in 2019. They moved down to a historically strong, but noticeably smaller, 493,000 the next year, according to data from the RV Industry Association.

Persons: That’s, Nika Shneyder, “ We’re, ” Shneyder, “, Michael Hicks, ”, Hicks, George Frey, bode, ” Michael J, Happe, hasn’t, We’ve, we’ve, Covid, Alex Shneyder, Nika, they’d, Monika Geraci, David Titus, Ty Wright, there’s, Ball State’s Hicks, ’ Titus, they’re, we’ll, Titus, ” Titus Organizations: CNN, Ball State University, Indiana University’s Center for Business, Economic Research, Bloomberg, Getty, Winnebago Industries, RV Industry, Dealers, RVs, Consumers, HL Enterprise, Manufacturing, of Labor Statistics Locations: Los Angeles, teeter, Salt Lake City, YOLO, Malibu, , California, Elkhart , Indiana, The Northern Indiana, South Bend, Elkhart, “, Elkhart .

☆ GameStop soars 41% after Roaring Kitty schedules a YouTube live session for this week
▼ + stars: | 2024-06-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

The stock soared after Roaring Kitty scheduled a livestream on his YouTube channel for this week. The upcoming livestream is titled "Roaring Kitty Live Stream - June 7, 2024" and already has 12,500 YouTubers "waiting" for the stream to start. Gill's The Roaring Kitty YouTube account gained tens of thousands of subscribers on Thursday, climbing to 711,000. AdvertisementLast month, Gill's Roaring Kitty X account posted a slew of memes and sparked a massive rally in meme-stocks, led by shares of GameStop. Gill revealed he owns 5 million shares of GameStop worth more than $200 million based on Thursday afternoon prices.

Persons: Roaring Kitty, Keith Gill's, —, Jmoa, Adam Smith, Kitty, Gill, Reddit Organizations: GameStop, Roaring, YouTube, Service, Keith Gill's YouTube, Business Locations: YOLO

☆ YOLO is dying. That could be bad news for the economy
▼ + stars: | 2024-06-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —YOLO economy, meet the “yo, no” economy. In what was dubbed the YOLO economy (short for “you only live once”), or revenge spending, consumers shelled out for the experiences and goods they had missed. And that may be bad news for the economy. “We are monitoring the issue and engaging with market participants,” a spokesperson for the Securities and Exchange Commission told CNN. Joe Saluzzi, co-founder of Themis Trading, told CNN that the NYSE’s explanation is hard to square with the bizarre trades that hit the tape.

Persons: “ Covid, doesn’t, ” Sameer Samana, “, There’s, ”, that’s, Taylor Swift, It’s, Dow, Jerome Powell, Berkshire Hathaway, Warren Buffett, Joe Saluzzi, Themis Trading, I’m, Saluzzi, ” Read, Matt Egan, Keith Gill —, ” —, Read, Anna Cooban Organizations: CNN Business, Bell, New York CNN, Wells, Investment Institute, Walmart, Target, Employers, TSA, Federal Reserve, New York Stock Exchange, The New York Stock Exchange, ” Intercontinental Exchange, NYSE, ICE, CNN, NYSE Group, Consolidated, CTA, Berkshire Hathaway’s, Berkshire, Securities and Exchange Commission, Themis, GameStop, AMC Entertainment Locations: New York, YOLO, Samana, “, Berkshire

☆ Keith Gill scored a one-day gain of $79 million after disclosing his GameStop stake on Reddit
▼ + stars: | 2024-06-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Keith Gill scored a $79 million one-day gain on his GameStop bet on Monday. The massive gains were initially sparked by Gill disclosing his bet on GameStop worth more than $100 million. Monday's trading action in GameStop minted Gill a $33.6 million one-day profit on his stock position, and a $54.3 million gain on his call option stake, bringing his one-day gain to a whopping $79 million. Including total cash of $29.3 million, Gill has a total account value of $289.3 million, and he is also now the fifth largest shareholder in GameStop. The Reddit post came a couple weeks after Gill's "Roaring Kitty" Twitter account posted a deluge of memes and sparked another rally in the meme-stock.

Persons: Keith Gill, Gill, —, That's, Gill isn't Organizations: GameStop, Service, Trade Locations: YOLO, Reddit

☆ Paul Singer's Elliott Management just raised $8.5 billion. The vaunted hedge fund laid out where it sees opportunities in its latest letter to investors.
▼ + stars: | 2024-05-30 | by ( Bradley Saacks | Alex Morrell | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAfter raising $13 billion in 2022, billionaire Paul Singer's Elliott Management raked in another sizeable haul over the past six months. This story is available exclusively to Business Insider subscribers. Related stories"Historical and mathematical fact can get lost in the excitement when stocks are on a tear," the letter states. The firm recently took a $2.5 billion stake in Texas Instruments, calling on the 94-year-old company to improve its free cash flow.

Persons: —, Paul Singer's Elliott, Elliott —, Elliott, doesn't Organizations: Service, Paul Singer's Elliott Management, Business, Texas Locations: YOLO

☆ When my son turned 20, we took a hike to reflect on our relationship. I learned the power of growing alongside your children.
▼ + stars: | 2024-05-13 | by ( Julie Neale | ) www.businessinsider.com time to read: +4 min

Read previewSeven years ago, my son, Ryan, turned 13 years old. After the balloons and a breakfast cupcake, we packed a picnic lunch and set out for a beautiful hike. Within 20 minutes, we reached the base of Sugarloaf Peak and began the ascent to a 360-degree view of the San Francisco Bay. With each year that he grows older, it feels as though I'm traversing new terrain, too, learning and evolving alongside him. Our stories are a testament to the transformative power of growth, resilience, and mutual support possible between a parent and their child.

Persons: —, Ryan, I've Organizations: Service, Business, UCLA Locations: San Francisco Bay, YOLO

☆ Biden Will Expand Two National Monuments in California
▼ + stars: | 2024-05-02 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +2 min

Mr. Biden has so far created five national monuments and expanded two others, part of his pledge to conserve 30 percent of the nation’s lands and waters by 2030. Last year, Mr. Biden gave a national monument designation to half a million acres of the Spirit Mountain area in southern Nevada. To date, Mr. Biden has preserved more than 41 million acres of land and waters. The San Gabriel monument encompasses 342,177 acres of the Angeles National Forest and 4,002 acres of neighboring San Bernardino National Forest. The expanded national monument includes a unique scenic railroad, grand recreation resorts and Nike missile facilities that date from the Cold War.

Persons: Biden, Avi Kwa, Trump, Biden’s, Molok, ”, Deb Haaland Organizations: Angeles National Forest, San Bernardino National Forest, Nike Locations: Arizona, Nevada, Cocopah, Utah, Gabriel, San, Napa , Yolo, Solano, Lake, Colusa, Glenn, Mendocino Counties, American

A growing group of America's young people are not in school, not working, or not looking for work. They're called "disconnected youth" or "opportunity youth," and their ranks have been growing for nearly three decades. Experts say it's not just work and school; this group is often also disconnected from a sense of purpose. Palmer added that those with limited access to transportation, people with disabilities, and young parents were also more susceptible. Disconnected young people don't have that luxury."

Persons: —, Destiny, She's, she's, They're, Kristen Lewis, Lewis, hadn't, there's, Sen, Tim Kaine, who's, Joseph, he's, hasn't, he'd, Ashley Palmer, Palmer, Sarah Nunley, Nunley, Veronica, There's, Lucchesi, they're Organizations: Service, Business, Federal Reserve Bank of Dallas, Social Science Research Council, Survey, University of Minnesota's, National Center for Education Statistics, Walmart, Texas Christian University, Ivy League Locations: Florida, Alabama, Indiana, Silicon Valley, YOLO, Texas

☆ Rise of Hate Spending: Americans Detest High Prices but Keep Shopping
▼ + stars: | 2024-04-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

According to experts I talked to, the surge in hate spending can be attributed to various factors. They're aware prices aren't going back to 2019 levels, and given everything everyone's just been through, they may as well live it up. She told me that she often finds herself outraged by prices — and then ultimately succumbs to the forces of capitalism. It's easy to say you want to cut back on spending, given high prices, but when a friend asks whether you want to go shopping, it's hard to say no. Hart, the Illinois writer with a brand-new Stanley cup, sees some of her spending as a way to reclaim power.

Persons: Christ, Lydia Boussour, they're, everyone's, Jordan Hart, Hart, Boussour, —, they've, it's, acclimated, It's, Claire Tassin, Tassin, There's, Taylor Swift, jonesing, people's, Ravi Dhar, Dhar, he'd, he's, I've, she'd, she'll, Stanley Organizations: Retail, Consumers, Morning, Center, Yale School of Management Locations: America, Illinois, YOLO splurging, Europe, York

☆ 13 slang words Gen Zers are using in 2024 and what they really mean
▼ + stars: | 2024-04-09 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

Just like the generations before them, Gen Z uses an extensive list of slang words. "Bussin," "ick," and "mid" are popular among Gen Z. Social media helps slang spread rapidly, but proper credit is often lost along the way. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: Gen Z, Z, —, John Baugh, Louis Organizations: Service, Washington University, Business Locations: YOLO, St

☆ Demand for french fries reflects resilient consumer as so-called fry attachment rate holds steady
▼ + stars: | 2024-04-05 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Responders continue answering affirmatively at a higher-than-average rate, a top potato supplier indicated. It underscores the resilience of consumer spending, even as inflation pinches pocketbooks and pandemic savings dry up. A larger share of customers keep adding the iconic side to meal orders than in the past, according to frozen potato supplier Lamb Weston . Looking at the bigger picture, strength in the so-called fry attachment rate bolsters economic data, showing the willingness of average Americans to still shell out for everyday luxuries. "The fry attachment rate has stayed pretty consistent," said CEO Thomas Werner during the company's earnings call on Thursday.

Persons: Lamb Weston, Thomas Werner, It's Locations: America, U.S

☆ Meme stocks are back in fashion. Here's how to find one.
▼ + stars: | 2024-04-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're breaking down how to identify a meme stock . Three years after GameStop upended things, meme stocks are back in fashion. But how does one find a meme stock? (Trump Media doesn't technically qualify as a meme stock under Sosnick's criteria due to the amount of low short interest. Maintaining long-term support for a meme stock remains a tough nut to crack.

Persons: —, Mark Zuckerberg, Satya Nadella, Jenny Chang, Rodriguez, There's, Steve Sosnick, Business Insider's Matthew Fox, David Becker, Chelsea Jia Feng, Donald Trump's, Trump, Bill Gross, BI's Peter Kafka, there's, it's, Pedro Ribeiro Simões, …, Matt Chase, they're, OpenAI's Sam Altman, Sora, Meta, Tyler Le, Jack Canfield's, Jay Marine, Amazon's, Jeff Bezos, Antony Blinken, Emmanuel Macron, Dan DeFrancesco, Hallam Bullock, Grace Lett, Lisa Ryan Organizations: Business, Service, Getty, GameStop, Interactive, Business Insider's, Trump Media, Technology Group, AMC Entertainment, Big Tech, Hollywood, Facebook, NBA, FOX Locations: YOLO, hodlers, Silicon, Paris, Ukraine, Gaza, New York, London, Chicago

☆ Americans are spending more on travel and live entertainment. But their personal saving rate has taken a dip.
▼ + stars: | 2024-03-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Four years later, American consumers have mostly moved on from the pandemic and are spending more on experiences than ever before. Prioritizing experiences, however, has led to a major shift in their financial lives: The personal saving rate in the US has declined considerably. In 2023, consumer spending on foreign trips and live entertainment rose by nearly 30 percent, according to the newspaper. Related storiesAt the same time, perhaps predictably, the US personal saving rate has declined, according to the bureau. In February, the personal saving rate was 3.6 percent, a drop from 4.1 percent the month before.

Persons: —, Ulrike Malmendier, Malmendier Organizations: Service, Business, Washington Post, University of California Locations: Berkeley

☆ Animal spirits are back in the market, fueling 2021-like speculative activity
▼ + stars: | 2024-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Federal Reserve's rate-cut signal in December triggered a furious rally to record highs, unleashing animal spirits that are fueling similar speculative activities from the depths of the pandemic. "The animal spirits are reviving," Michael Hartnett, chief investment strategist at BofA Global Research, said in a phone interview. "Animal spirits, they don't necessarily start with the biggest animals in the jungle," Quincy Krosby, chief global strategist at LPL Financial, said by phone. To be sure, others believe the market rally has been justified by the enthusiasm for artificial intelligence, and the contribution it's likely to make to future corporate profits. Billionaire investor Ray Dalio said the U.S. stock market is not in a speculative bubble based on his criteria.

Persons: Bitcoin, Michael Hartnett, Hartnett, Cryptocurrency, Scott Rubner, Goldman Sachs, Quincy Krosby, Ray Dalio Organizations: BofA Global Research, Nasdaq, GameStop, Palo Alto Networks, Research, LPL Locations: Nigeria, Argentina, Snowflake, YOLO, . U.S, U.S

☆ The Fed is going to hold out on rate cuts longer than we think, investment strategist says
▼ + stars: | 2024-02-15 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

The Fed is going to hold out on rate cuts longer than we think, a John Hancock strategist said. Consumer spending and market momentum are strong, while elevated rates haven't created meaningful cracks in the economy. "We're seeing riskier areas like crypto-related stocks and AI darlings' momentum taking hold in the market." And the flurry of cash is also being fed into the stock market. AdvertisementBitcoin's price has punched past $51,000 to levels last seen in 2021, rallying regardless of hiccups in the stock market like Tuesday's pullback after a hot CPI report.

Persons: John Hancock, —, John, Emily Roland, Jerome Powell, Roland, we're Organizations: Consumer, Service, CNBC, splurging, Nvidia, Fed Locations: YOLO

☆ Let's normalize going on a honeymoon before getting married — or engaged
▼ + stars: | 2024-02-14 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Mikhaila Friel/InsiderOne thing that surprised us was the number of people asking us if we were on our honeymoon. Mikhaila Friel/Business InsiderWhile it's not conventional, more couples are starting to have their honeymoon before getting married or even engaged, according to Julia Carter, founder of the luxury travel operator Craft Travel. Carter noted that waiting until your honeymoon to take a big trip could be beneficial as it's common for family members to contribute financially. AdvertisementGo on the honeymoon that works for youAlthough we aren't engaged, all of the honeymoon chatter got my partner and me talking about what we envisioned for our actual honeymoon. For couples already engaged, an early honeymoon could provide a much-needed break from wedding planning or an opportunity to bond with your partner before the big day.

Persons: —, Arvia, Mikhaila Friel, us, Julia Carter, Carter Organizations: Service, Business, Craft Locations: Barbados, Caribbean, YOLO

☆ The big business of the Super Bowl, from competing advertisers to the ultrawealthy networking
▼ + stars: | 2024-02-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the big business of the Super Bowl, from advertisers to the ultraweal thy . Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one. AdvertisementFor some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson. The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.

Persons: —, Taylor Swift, Travis Kelce, Patrick Smith, Emily Stewart, that’s, Ryan Joe, Lara O’Reilly, Ryan, BI’s Lauren Johnson, RYU, BI’s Madeline Berg, Elon Musk, Rupert Murdoch —, VistaJet, BI’s Taylor Rains, Grace Kay, it’s, BI’s Juliana Kaplan, Cork Gaines, Usher, David Rosenberg, Quants, Getty, David Butow Here’s, Tesla, Sissie Hsiao, Bard, Gemini, Uber, Dara Khosrowshahi, Lucas Jackson, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ign, Super, Elon, Private, American Gaming Association, San Francisco 49ers, Kansas City Chiefs, Renaissance Technologies, Man, AHL, UBS, Google, Reuters, Merchants, Conference, PepsiCo Locations: Sun Valley, YOLO, New York, London

☆ 'YOLO spenders' have created a 'super-duper' credit bubble in the US economy, top economist David Rosenberg says
▼ + stars: | 2024-02-08 | by ( Aruni Soni | ) www.businessinsider.com time to read: +1 min

The US has a "super-duper" credit bubble on its hands as "YOLO spenders" take on massive debt, David Rosenberg said. US household savings are quite low at 3.7%, while consumer spending bulged by $208 billion last quarter, financed with debt. "As far as consumer credit is concerned, the default cycle isn't merely looming. AdvertisementToday's consumers — or rather, "YOLO spenders" — have taken on a massive amount of debt, top economist David Rosenberg said. "There is no acknowledgment today that, yet again, we have a super-duper credit bubble on our hands," he wrote in a note on Thursday.

Persons: David Rosenberg, It's, —, it's Organizations: US, Service, Business Locations: YOLO

☆ While some are making fun of Gen Alpha's 'brainrot' memes, Gen Zers are reminding each other of the ridiculous memes they grew up with
▼ + stars: | 2023-12-04 | by ( Kieran Press-Reynolds | ) www.businessinsider.com time to read: +3 min

As Gen Alpha memes dominate the internet, many have ridiculed them for being too inane. Gen Zers are now reminding each other their memes have been equally as ridiculous as "Skibidi Toilet." Older generations — particularly Gen Z — worried they were falling out of touch since they didn't understand its nonsensical humor. Three of the most popular TikToks over the last few weeks feature chaotic montages recalling popular Gen Z memes. The TikToks feature hypothetical quotes on-screen about people saying Gen Alpha "is literally watching brainrot," and then include a statement insinuating that what Gen Z watched wasn't any better.

Persons: Zers, —, Z —, Alpha, Gen, Snoop, Gen Z, Y'all, Zers didn't, @aymj13, Knuckles Organizations: Alpha, Service Locations: yolo

Single women face unique challenges when planning for retirement, so I asked an expert for help. Plus, women are often put in a caregiving role, which means time off from work — and not contributing regularly to retirement funds. So how can single women like me juggle with inflation, a higher cost of living, dwindling income, and the gender wage gap to be on track for retirement? I asked Marie Thomasson, a certified financial planner and founder of Modern Assets, an LA-based financial advisory firm for independent, progressive women, for tips on how single women can steer the course and make sure they're on track with their goals for retirement planning. Reassess your retirement accountsOnce you have your financial bases covered, you can venture into investing and retirement planning, says Thomasson.

Persons: Marie Thomasson, —, I've, Thomasson, hadn't, doesn't, aren't, Amanda Holden's, Simran Kaur's, Erin Lowry's, Tonya Rapley's, Tiffany, We're Organizations: Service, Modern Assets, Research, Pew Locations: LA, YOLO

☆ Secret recording of Caroline Ellison meeting with Alameda staff exposed in SBF criminal trial
▼ + stars: | 2023-10-12 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Caroline Ellison, former chief executive officer of Alameda Research LLC, leaves Manhattan Federal Court after testifying during the trial of FTX CEO Sam Bankman-Fried, on October 10, 2023 in New York City. Rick Best, a trader who had joined Alameda just days earlier, was directly to Ellison's right and secretly recording the meeting as audio. "Alameda borrowed a bunch of money," which it used to make investments, Ellison said on the recording. At one point on the recording, Ellison giggled. "FTX basically always allowed Alameda to, like, borrow user funds, as far as I know" she said on the recording.

Persons: Caroline Ellison, Sam Bankman, Christian Drappi, Drappi, He's, Rick Best, Ellison, FTX, Ellison giggled, Um, Sam Organizations: Alameda Research, Bankman Locations: Manhattan, New York City, Hong Kong, Alameda, Bahamas, FTX, YOLO

☆ EXCLUSIVE: Listen to 1-hour all-hands Alameda Research meeting where Caroline Ellison admitted the crypto firm took FTX customer money
▼ + stars: | 2023-10-12 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +6 min

Caroline Ellison held an all-hands meeting with Alameda employees where she admitted to taking FTX customer funds. The news sent shockwaves through the office of Alameda Research, the crypto trading firm also owned by Sam Bankman-Fried. AdvertisementAdvertisementAt the all-hands meeting, Ellison appeared "sunken, kind of slouching," and "did not display confident body language," Drappi said. At the meeting, Drappi asked Ellison whether she was aware that Alameda was taking customer money without their permission. Bankman-Fried's lawyers argued Thursday that Ellison's statements at the meeting went far beyond what Bankman-Fried intended to tell Alameda employees.

Persons: Caroline Ellison, Sam Bankman, —, Fried, Binance, Ellison, Christian Drappi, Drappi, Rick Best, — Ellison, Gary Wang, Nashad Singh, Wang, Singh, FTX Organizations: Alameda, Service, Alameda Research Locations: Alameda, Hong Kong, Japan, YOLO

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