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Search resuls for: "Fried's Alameda"


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☆ US stocks finish mixed amid fears of more Fed hawkishness after hot jobs report
  + stars: | 2022-12-02 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +3 min
The Dow reversed higher as the Fed is still largely expected to slow its pace of rate hikes. But the hot jobs data could push the Fed to tack on more rate hikes in early 2023, some analysts say. JPMorgan Asset Management chief strategist David Kelly said the jobs report was likely distorted, and there's still plenty of room for the Fed to taper rate hikes and pause in 2023. Principal Asset Management chief strategist Seema Shah said the jobs report could push the Fed to raise rates above 5%. "This report doesn't mean the risks of the Fed raising rates to 6% are back on the table.
☆ Arianna Huffington slams Elon Musk and Sam Bankman-Fried as 'burnout deniers' whose intense approach is actually harming their companies
  + stars: | 2022-11-30 | by ( Erin Snodgrass | ) www.businessinsider.com   time to read: +3 min
Arianna Huffington rebuked Elon Musk and Sam Bankman-Fried as "burnout deniers." In a Tuesday opinion piece, she suggested Musk's "hardcore" approach is bad for business. Musk's first month as CEO at Twitter has been marred by "stunning missteps, reversals and mass defections," Huffington wrote. Musk revived his "hardcore" language in testing Twitter employees earlier this month. "This will mean working long hours at high intensity," Musk wrote in a late-night email to employees.
☆ Sam Bankman-Fried's Alameda Research owes more than $50,000 to a Bahamas resort inspired by Jimmy Buffett's 'Margaritaville'
  + stars: | 2022-11-29 | by ( April Joyner | ) www.businessinsider.com   time to read: +3 min
A filing on Monday shows that Alameda Research owes $55,319 to Margaritaville's Bahamas resort. Alameda Research, Sam Bankman-Fried's trading firm, filed for bankruptcy in November alongside FTX. That's not great news for the Margaritaville Beach Resort in Nassau, Bahamas, to which Bankman-Fried's bankrupt trading firm, Alameda Research, owes more than $50,000. Unlike secured creditors, unsecured creditors do not have access to collateral that they can seize when the money they are owed goes unpaid. Alameda Research and Margaritaville have not responded to a request for comment at the time of publication.
☆ Mark Cuban still believes in crypto's fundamental value but thinks FTX's Sam Bankman-Fried is headed for jail
  + stars: | 2022-11-28 | by ( Brian Evans | ) www.businessinsider.com   time to read: +2 min
Billionaire investor Mark Cuban isn't giving up on cryptocurrencies despite the collapse of FTX. He told TMZ on Saturday that crypto still has underlying value, urging people to "separate the signal from the noise." As for FTX founder Sam Bankman-Fried, Cuban said "I don't know all the details, but if I were him, I'd be afraid of going to jail for a long time." The billionaire owner of the Dallas Mavericks NBA team and "Shark Tank" investor told TMZ on Saturday that faith in fundamentals outweigh the short-term turbulence. Cuban also touched on Bankman-Fried, and said that the former FTX chief executive should be worried about potential jail time.
☆ The former co-CEO of Sam Bankman-Fried's Alameda crypto trading firm was a risk-loving, poker-playing gambler
  + stars: | 2022-11-24 | by ( Carla Mozée | ) www.businessinsider.com   time to read: +3 min
Alameda's former co-CEO used poker and blackjack strategies in crypto trading, Bloomberg reported. Tweets and public comments by Sam Trabucco indicate the former Alameda executive employed poker and blackjack strategies in crypto trading, according to the Bloomberg report. Trabucco frequently revealed how much he applied what he learned from his time at card tables to the crypto market, Bloomberg reported. According to the report, Trabucco in January 2021 said Alameda employed risky bets in the firm's business. FTX may have more than a million creditors and Ray slammed its operations in FTX's bankruptcy filings.
☆ Authorities may reportedly bring Sam Bankman-Fried in for questioning as FTX Bahamas files for bankruptcy
  + stars: | 2022-11-16 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +2 min
US and Bahamian authorities are in talks to potentially bring Sam Bankman-Fried to the US for questioning, Bloomberg reported Tuesday. Bankman-Fried has been cooperating with Bahamian authorities, per the report. On Wednesday, the Bahamas branch of FTX filed for Chapter 15 bankruptcy, days after FTX Group filed Chapter 11. Sources told Bloomberg that 30-year-old Bankman-Fried, who resigned from his position as FTX Group CEO when the company filed for Chapter 11 bankruptcy on Friday, has so far been cooperating with Bahamian authorities. Meanwhile, the Bahamas branch of FTX filed for Chapter 15 bankruptcy in New York on Wednesday.
☆ From $32 billion to criminal investigations: How Sam Bankman-Fried's empire vanished overnight
  + stars: | 2022-11-15 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +17 min
Alameda's success spurred the launch of crypto exchange FTX in the spring of 2019. A Twitter fight with the CEO of rival exchange Binance pulled the mask off the scheme. Alameda, FTX and a host of subsidiaries Bankman-Fried founded have filed for bankruptcy protection in Delaware. On Nov. 2, CoinDesk reported a leaked balance sheet showing that a significant amount of Alameda's assets were held in FTX's illiquid FTT token. On Nov. 6, according to Bankman-Fried, the exchange had roughly $5 billion of withdrawals, "the largest by a huge margin."
☆ Crypto.com CEO downplays FTX contagion fears, says he’ll prove naysayers wrong as withdrawals rise
  + stars: | 2022-11-14 | by ( Ryan Browne | ) www.cnbc.com   time to read: +7 min
"We do not run a hedge fund, we do not trade customers' assets. Alameda Research, FTX's sister company, borrowed billions in customer funds from the exchange to ensure it had enough funds on hand to process withdrawals, CNBC reported Sunday. Bankman-Fried declined to comment on allegations of misappropriating customer funds but said its recent bankruptcy filing was the result of issues with a leveraged trading position. Asked about this Monday, Marszalek said this was just a reflection of the assets Crypto.com customers were buying. Crypto.com has 70 million users globally and made revenues of $1 billion annually in both 2021 and 2022, according to Marszalek.
☆ Sam Bankman-Fried's Alameda Research website taken down amid FTX turmoil
  + stars: | 2022-11-09 | by ( ) www.reuters.com   time to read: 1 min
Nov 9 (Reuters) - Alameda Research, the trading firm founded by FTX chief executive officer Sam Bankman-Fried, took down its website on Wednesday, making it private. The development comes a day after crypto exchange Binance announced plans to acquire FTX. Since then, crypto markets have been reeling under worries that financial troubles at FTX could spillover to other players in the marketA message on Alameda's site said "This site is currently private." Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
☆ The Fed has to balance its latest rate hike with trying not to tank the economy. Here's what to know.
  + stars: | 2022-09-21 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +7 min
Today, I'm breaking down what to know about the Fed's third jumbo rate hike, and how markets could look in its aftermath. In this March 21, 2018, file photo, Federal Reserve Chairman Jerome Powell speaks following the Federal Open Market Committee meeting in Washington. A third, outsized rate hike is an unprecedented move by the Federal Reserve. For this meeting in particular, billionaire David Rubenstein warned that a 100-basis-point hike this week would shock and depress markets and investors. What's on deck for markets after a third consecutive large rate hike?
☆ Sam Bankman-Fried's Alameda will repay $200 million in crypto to bankrupt lender Voyager - after the crash hit dollar values
  + stars: | 2022-09-20 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
Sam Bankman-Fried's Alameda plans to give crypto worth $200 million to Voyager to pay off a loan. The loan was worth $377 million before the crypto slump, which helped push lender Voyager into bankruptcy. Alameda agreed to make the payment in bitcoin, ether and seven smaller cryptos by the end of September. For its part, Voyager will return the tokens Alameda pledged as collateral against the loans, including 4.65 million FTT and 63.75 million SRM tokens. In July, the crypto billionaire offered Voyager $250 million in credit, but the crypto lender turned it down.
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