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HONG KONG/SINGAPORE/NEW YORK Nov 10 (Reuters) - FTX's Sam Bankman-Fried is seeking new funds after a deal with Binance collapsed, according to a staff memo on Thursday viewed by Reuters, as the crypto exchange looks to plug a reported $8 billion hole in its finances. Larger rival Binance walked away from a bailout of FTX on Wednesday, sending cryptocurrency prices plunging as hopes for a rescue diminished. In the memo, viewed by Reuters, Bankman-Fried said for the next week he would be "conducting a raise" to do right by customers and "possible new investors." It came after Bankman-Fried told employees on Wednesday he was exploring all options for his firm after the Binance deal with collapsed. TX's shortfall comes after users rushed to withdraw $6 billion in crypto tokens from FTX in just 72 hours.

☆ FTX suspends addition of new clients, withdrawals
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - FTX on Thursday suspended onboarding of new clients as well as withdrawals until further notice as hopes of a rescue for the cryptocurrency exchange fade after rival Binance walked away from a deal to bail out the company. In a message on its website, the company also asked clients to avoid depositing their funds. It was not immediately clear if FTX US, the company's U.S. unit that was not part of Binance's failed buyout, too is included in the latest move. An FTX spokesperson did not immediately respond to requests seeking comments. Reporting by Niket Nishant in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Papaya Global: 2022 Top Startups for the Enterprise
▼ + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +1 min

Israel is a well-known hub for some of the world's most advanced cybersecurity startups, but Papaya Global is aiming to make the nation known for leading in payroll technology as well. Combining onboarding, payroll and compliance on a global basis for both staff and contract workforces of companies with operations in over 140 countries, investors accelerated funding in 2021 and Papaya reached unicorn status, still a rare feat for a female-led startup. The company now handles over $3 billion in payroll for 700-plus customers including Cyberark, Shopify , Vimeo, Payoneer , Microsoft , Panasonic and fellow Top Startups company Canva. Investors include Workday's VC arm, Sir Ronald Cohen's family investment firm Dynamic Loop Capital, Bessemer Venture Partners, New Era Capital and Tiger Global. The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC).

☆ Factbox: Corporate America lays off thousands as recession worries mount
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +7 min

DoorDash Inc (DASH.N):The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees. Twitter Inc:The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover. Chime Financial Inc:The online banking firm has laid off 12% of its employees, or about 160 jobs, a spokesperson said. Coinbase Global (COIN.O):The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams. CNN:Warner Bros Discovery-owned (WBD.O) CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.

☆ BITG says WeWork shares could nearly triple, citing 'opportunity in uncertainty'
▼ + stars: | 2022-11-04 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +3 min

It's time to snap up shares of WeWork, according to analysts at BTIG. The firm on Thursday initiated coverage of the workspace real estate company with a buy rating and a price target of $7.50. WeWork set for profitability WeWork has plunged more than 70% since it went public in 2021 via a special purpose acquisition company, or SPAC. "Over time, we expect WeWork to transition to a more mature balance sheet, which could support future growth of the company's operating platform," he said. On the downside, WeWork could be hit by a harder and longer global recession, which could reduce demand for flexible workspace.

☆ Hot startups like Miro and Canva are racing to dominate virtual whiteboards, an emerging category of workplace tools that sparked Adobe's $20 billion bid for Figma
▼ + stars: | 2022-11-04 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +7 min

Virtual whiteboards are becoming essential workplace tools, as evidenced by Adobe's bid for Figma. The $20 billion price tag only further signaled the boom around virtual whiteboards, which allow users to collaborate visually and are quickly becoming essential tools alongside videoconferencing and workplace messaging. Besides Figma, Miro has gained momentum over the past two years, growing to 40 million users from 5 million users. But industry insiders think virtual whiteboards will become just one piece of a visual-collaboration arena. As a result, companies like Miro, Canva, and Lucid are on similar paths toward becoming larger visual-communications platforms.

☆ Apple has instituted a hiring freeze. Here's what to know.
▼ + stars: | 2022-11-03 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

Netflix's lower-priced subscription tier, Basic with Ads, is now available, so you can spend less to watch your favorite shows. Hiring freezes are underway at Apple. Since the summer, the company has touted its "deliberate" decisions about investment and hiring. But three sources with close knowledge of conversations at the company told Insider it has paused almost all hiring. Musk's Twitter has a list of thousands of employees who will be laid off, representing about 50% of the company's workforce.

☆ Apple has touted its 'deliberate' hiring amid a tough economy, but insiders say widespread hiring freezes are in place for the year ahead
▼ + stars: | 2022-11-02 | by ( Reed Alexander | Claire Atkinson | ) www.businessinsider.com time to read: +4 min

Apple has frozen hiring for roles across corporate divisions at the tech giant, three sources tell Insider. The company has said it will be "deliberate" with recruiting but has not acknowledged halting hires in some departments. Since the summer, Apple has touted its "deliberate" decisions about investment and hiring, including on its most recent quarterly earnings call last week. But three sources with close knowledge of conversations at the company told Insider it has paused almost all hiring. The second source, who has knowledge of multiple high-level conversations inside Apple, agreed that it's experiencing a hiring freeze.

☆ This entrepreneur says he found being laid off from Shopify 'empowering' — he now hosts improv workshops for businesses and charges around $2,000 per session
▼ + stars: | 2022-10-31 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

The Other Comedy Company uses improv games to help work teams meet their goals. In fact, he said he launched his business, called The Other Comedy Company, exactly one minute after he got the news. The Other Comedy Company facilitates comedy and improv workshops for businesses. Just over two months later, Shopify laid off about 1,000 people across the company. Myers said The Other Comedy Company currently employs four workshop facilitators, all of whom come from stand-up comedy or improv backgrounds.

☆ I was laid off from appraisal-tech firm Clear Capital. The culture became cold and impersonal, and I don't miss it.
▼ + stars: | 2022-10-29 | by ( Robert Davis | ) www.businessinsider.com time to read: +10 min

Jason Doly/Getty ImagesAppraisal-tech firm Clear Capital laid off 27% of its staff, or about 378 people, on October 14. This as-told-to essay is based on a conversation with a Clear Capital employee who was laid off during cuts that the appraisal-tech startup announced on October 14. But the way the company laid us off was cold and impersonal. Clear Capital used to try to stand out with its company culture, but that culture has been in decline for some time. How companies like Clear Capital operateAs a small appraisal company, Clear Capital hired internal appraisers primarily for quality-assurance tasks like reviewing appraisal reports.

☆ 5 lessons for success and happiness on Wall Street — from a Bank of America rising star turned doula and Reiki master
▼ + stars: | 2022-10-27 | by ( Emmalyse Brownstein | Alex Morrell | ) www.businessinsider.com time to read: +13 min

Laura Hayward started her Wall Street career at Morgan Stanley during the financial crisis. Hayward, who rose ranks at Bank of America, shares what she learned to be both successful and happy on Wall Street. "I'd always been a finance person at work and a spiritual person and hippie outside of work," Hayward told Insider. After seven years at BofA, and more than a decade on Wall Street, she left this summer. Wall Street work life is stereotypically perceived as draconian — leaving little room for individuality.

☆ Meet 6 inspirational leaders creating a better future for developers
▼ + stars: | 2022-10-27 | by ( Sponsor Post | Created Twilio With Insider Studios | ) www.businessinsider.com time to read: +7 min

Twilio's Developer Searchlight is a global search for the most inspirational, effective leaders supporting developers today. In her former role as a senior product manager at Mulesoft, Suchi was an advocate for developers, building products specifically designed for developers. Marcus EaganEagan supports the open-source community through personal, financial, educational, and code contributions. TwilioMarcus Egan, a staff product manager at MongoDB, dedicates 20% of his week to mentoring and giving back to the open-source community. Ashwin started giving back to the developer community after attending and winning some hackathons.

☆ Overwhelming workloads, back-to-office complaints, and frustrations over pay: Why Merrill Lynch's support staff is leaving
▼ + stars: | 2022-10-26 | by ( Rebecca Ungarino | Hayley Cuccinello | ) www.businessinsider.com time to read: +13 min

Less visible, though just as much the lifeblood of the firm, are Merrill's client associates. But we're not treated that way, and we're not stupid," an associate who recently left the firm said. "Our client associates are essential to the fabric of the firm, how we serve clients and grow," a company representative said. Yagyaev said client associates were "grossly underpaid" across the industry and their base should really be in the area of $80,000 to $90,000. An advisor who recently left Merrill and worked with CAs said some were leaving for raises of about $30,000 to work at other banks.

☆ Your coworkers aren't less productive because they're 'quiet quitting.' They're just new to the job.
▼ + stars: | 2022-10-26 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some say "quiet quitting" is among the key reasons why. But "quiet quitting" likely isn't why. But while quiet quitting may be a real phenomenon and newly coined phrase, the practice is not a new one. "I don't think "quiet quitting" is real or affecting productivity growth," Adam Ozimek, chief economist at the policy organization Economic Innovation Group, wrote on Twitter last week. But while remote workers may be productive once they're up and running, it's possible new remote employees are less productive.

☆ Merrill Lynch's support staff is fed up. Here's why client associates at the massive wealth manager are heading for the door.
▼ + stars: | 2022-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

The support wants supportThere's another uprising on Wall Street. And at Merrill Lynch, which oversees $2.7 trillion in assets, there is plenty of dirty work that falls to the 6,500 CAs. But it's important to remember that we're a long way away from the spring of 2021, when Wall Street was making money hand over fist. Wall Street bonuses are expected to drop by as much as 22% from last year, Reuters reports. If you do one thing today, read this inspiring story about a Wall Street banker leading the evacuation of an Afghan colonel and his family.

☆ How much small business owners should pay themselves
▼ + stars: | 2022-10-20 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +6 min

Many small business owners have trouble figuring out an appropriate take-home pay as the company expands, and some don’t pay themselves at all. Understanding how to pay yourself appropriately — even if it’s only a small amount that grows over time — is important for the long-term health of a business, according to professionals that advise small businesses. “It doesn’t reflect the true health of your business if you aren’t taking something,” said Zahir Khoja, chief executive at Wave Financial, a provider of money management tools for small businessesThe mechanics are especially important given that 26% of small business owners don’t pay themselves a salary, according to a 2022 small business survey from Wave. Here are four tips small business owners should consider when setting their take-home pay. Business owners may think the money could be better spent on hiring marketing help, redoing the website or some other expense that can help the company expand.

☆ Relevize helps companies maximize their revenue through channels like LinkedIn and Facebook. Check out the 15-slide deck it used to raise $6 million from Insight Partners.
▼ + stars: | 2022-10-19 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Relevize simplifies the distribution of marketing campaigns via partner channels like LinkedIn. A startup that enables companies to optimize their marketing and revenue streams through partner channels has raised a $6 million seed round from Insight Partners. Relevize aims to make the process of sellers interacting with multiple partner channels less complex by collating all digital campaigns into a single platform. Companies can choose to onboard new partner channels through Relevize, and based on the data provided on their campaign outreach, amend their marketing strategies. "We also sell our software directly to resale partners so that they can use it to more effectively manage and track the leads they receive through digital programs," Nardella told Insider.

☆ AI in Insurance: How three forward-looking insurers are infusing AI into their front, middle, and back offices
▼ + stars: | 2022-10-19 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

Insider Intelligence details AI use cases within the insurance industry, and explores potential risks to this tech. download the app Email address By clicking ‘Sign up’, you agree to be contacted by Insider Inc. and receive emails from Insider Intelligence and eMarketer (e.g. And insurers are integrating AI implementations across their front, middle, and back offices in order to fend of tech-savvy startups. To help insurance professionals navigate this digital transformation, Insider Intelligence put together the AI in Insurance Report. The report assesses the business impact of insurers that choose to implement AI in their front, middle, and back offices.

☆ Wall Street is being shortsighted on Meta Platforms, ignoring things that can go right
▼ + stars: | 2022-10-12 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Club holding Meta Platforms (META) seems to be a hated stock on Wall Street no matter what it does. The stock hit a new 52-week low Wednesday, one day after the company unveiled its new Quest Pro headset at its 2022 Meta Connect conference. Quest Pro Starting with the Meta Quest Pro, at $1,500, the headset is targeting a different audience than its Meta Quest 2 counterpart, which starts at $400. Tools and partnerships While the Quest Pro is impressive in its own right, what makes it really intriguing are the tools and partnerships that were announced with it. The Meta Quest Pro headset during the virtual Meta Connect event in New York, US, on Tuesday, Oct. 11, 2022.

☆ Uber's chief incrementalist: Sundeep Jain is a divisive leader who shuns flying cars in favor of a steady march toward 'super app' status.
▼ + stars: | 2022-10-12 | by ( Tom Dotan | ) www.businessinsider.com time to read: +12 min

Instead, Jain has overseen the introduction of add-on features to Uber's app, such as rental car bookings and party buses leasing. "Spending a half billion a year on flying cars doesn't make sense for the type of business we are," said one current Uber executive. "I don't think innovative people want to work for a non-innovative product leader," said one former Uber executive. "Under Sundeep's leadership the product team has shipped more products, to more users, than ever before," a spokesperson told Insider. That's two billion dollars," a current Uber product executive said.

☆ SoftBank-backed Elemy aimed to transform autism care. But current and former employees say the $1.15 billion startup overpromised on its capacity to treat kids.
▼ + stars: | 2022-10-11 | by ( ) www.businessinsider.com time to read: +18 min

Elemy, a $1.15 billion startup, promised families and healthcare providers quick access to autism care for kids. The current and former Elemy employees who spoke to Insider for this story requested anonymity because they feared retaliation from the company. ABA therapy, while somewhat controversial, is the most widely used treatment to teach kids with autism new skills and discourage challenging behaviors. At the direction of leadership, Elemy employees on the business-development team told those organizations to send their kids with autism, according to four former employees directly involved in forming referral relationships. Each ABA company performs its own expensive, time-consuming behavior assessments, and some insurers pay for only one assessment every six months, he said.

☆ Mark Zuckerberg showed his full avatar, which now has legs, in real-time for the first time after Meta was slammed for poor graphics
▼ + stars: | 2022-10-11 | by ( Grace Kay | Britney Nguyen | ) www.businessinsider.com time to read: +4 min

Meta CEO Mark Zuckerberg debuted the new metaverse avatars at the company's Connect conference. The company also announced a new $1,499 Quest Pro virtual reality headset, and new partnerships. The metaverse avatars didn't have legs before because it was harder in virtual reality to accurately position where body parts like legs are, the Facebook founder said. "But seriously, legs are hard, which is why other virtual reality systems don't have them either," Zuckerberg said. Zuckerberg shared an updated metaverse avatar image Friday after being widely mocked for a previous version.

☆ Influencers who are testing Instagram's Creator Marketplace say it's nearly impossible to get brand deals: 'It's crickets'
▼ + stars: | 2022-09-27 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +9 min

Instagram's Creator Marketplace is currently invite only. How Instagram's Creator Marketplace worksInstagram's Creator Marketplace isn't exactly a no man's land: There are more than 100 brands listed in the app's marketplace, Mello said. What influencers want to see from Instagram's marketplaceIn the end, Instagram's Creator Marketplace is still a limited test, and ups and downs are to be expected. Otherwise, the marketplace could alienate smaller creators, Bright said — and Instagram has reiterated that smaller and emerging creators are a core focus. Otherwise, the marketplace could alienate smaller creators, Bright said — and Instagram has reiterated that smaller and emerging creators are a core focus.

Parafin, launched in 2020, works with so-called platform partners, or companies that other small businesses sell their products through. All the cofounders knew was that they wanted to build technology that would help small businesses. And they may not get their first contract payment from the government for as long as 120 days," Reed, the startup's CEO, told Insider. Helping small businesses manage their taxesComplYant's founder Shiloh Jackson wants to help people be present in their bookkeeping. HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.

☆ Eight U.S. state regulators charge Nexo for failure to register interest account
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationSept 26 (Reuters) - Eight U.S. state regulators on Monday charged cryptocurrency lender Nexo Group for allegedly failing to register its Earn Interest Product, as authorities crackdown on digital asset platforms rocked by a crypto winter in recent months. "Since the SEC guidance on earn products in February 2022, Nexo has voluntarily ceased the onboarding of new U.S. clients for our Earn Interest Product as well as stopped the product for new balances for existing clients," the company said in an emailed statement. Nexo's interest accounts offered under the product promise an annual interest rate as high as 36%, according to California's Department of Financial Protection and Innovation. The regulatory clampdown comes in the midst of a crypto winter that has seen crypto prices have plummet this year as a risk-off sentiment and fears of a looming recession crushed risky assets, forcing some companies into bankruptcy. Register now for FREE unlimited access to Reuters.com RegisterReporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

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