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☆ Dow falls 543 points as US stocks slide ahead of important February jobs report
▼ + stars: | 2023-03-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks sank on Thursday as investors brace for Friday's key February jobs report. Investors are pricing in higher odds that the Fed dials rate hikes back up to 50 basis points later this month. Financial stocks were battered Friday after implosions at Silicon Valley Bank and Silvergate Capital. Stocks, however, reversed course to slide in afternoon trading, with the Dow losing over 500 points as investors turned their focus to Friday's non-farm payrolls report. Meanwhile, financials took a beating on Thursday, with bank stocks plunging after implosions at Silicon Valley Bank and Silvergate Capital rattled the sector.

☆ The dealmaking boom meant fast timelines and loose due diligence. But high-profile implosions like FTX and Frank mean would-be sellers can expect more scrutiny, insiders say.
▼ + stars: | 2023-01-27 | by ( Paige Hagy | Bianca Chan | Carter Johnson | ) www.businessinsider.com time to read: +10 min

We don't want to look like JPMorgan,'" Jason Mikula, fintech analyst and writer behind Fintech Business Weekly, told Insider. How closely they adhere to it matters greatly in terms of if a deal is on the line," Mandelbaum told Insider. Investors pumped $132 billion globally into fintechs in 2021 and there were more than 900 fintech M&A exits, according to CB Insights. "It's now a buyer's market," Rob Brown, CEO of Lincoln International, a global investment-banking advisory firm, told Insider. One way companies might optimize the due-diligence process without cutting corners is by leaning on machines to help with the heavy lifting.

[1/3] George Bezdjian, whose daughter Jessica died in 2020 port explosion, holds her picture during a protest against steps taken this week to hamstring a probe into the 2020 port blast, in Beirut, Lebanon January 26, 2023. With friends and allies of Lebanon's most powerful factions, including Hezbollah, among those charged, the establishment struck back swiftly on Wednesday, when the prosecutor general charged Bitar with usurping powers. With deep fissures in the judiciary exposed, the tussle adds to the unravelling of a state accelerated by a three-year-long financial crisis, left to fester by the ruling elite. Attempts by a Lebanese judge to investigate Salameh have hit obstacles in Lebanon, where politicians have big sway over the judiciary. In opposing Bitar, Hezbollah has accused the United States of meddling in the investigation and Bitar of political bias.

☆ It's been a wild time for tech implosions. We asked top PR experts to rank how well — or badly — the fallout has been managed.
▼ + stars: | 2023-01-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

FTX: tied for first place 🥇Sam Bankman-Fried—pictured above leaving federal court in Manhattan— has been criticized by PR experts for giving too many interviews. David Dee Delgado/Getty ImagesSam Bankman-Fried's crypto empire began unraveling in November 2022, and left the world in shock. As the crisis continues to unfold, Bankman-Fried has been giving interviews to media outlets ranging from DealBook to Puck News. According to several PR experts that Insider spoke with, Bankman-Fried's media frenzy has been his biggest mistake. "With great legal minds behind him aka his PARENTS - surely someone was insisting he not do a press tour of ANY kind.

☆ Crypto just had an awful week
▼ + stars: | 2023-01-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

It’s the kind of negative press that the crypto faithful want to either ignore completely or denounce as a fringe, one-off scandal. But crypto is a tight-knit web, and when one corner collapses it puts the whole lot at risk. And we’re not done yet…Also this week:Coinbase, a publicly traded US crypto platform, agreed to a $100 million settlement after a New York regulator found “significant failures” to comply with the state’s anti-money-laundering laws. Bottom line: I’m not here to write crypto’s obit, and I am well aware that there are plenty of legitimate crypto enterprises out there. But no one within crypto agrees on what those regulations should look like, and some dispute the need for regulation in the first place.

☆ A stock market crash and a Great-Depression-style economy are among the boldest forecasts for 2023.
▼ + stars: | 2023-01-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Now it's full speed ahead into 2023 — and the first Opening Bell newsletter of the year is a doozy. Over the last 12 months, volatility defined global markets. Some of the worst-performing tokens plummeted more than 90%, and one North Korean cyberattack resulted in a $625 million theft. Here is your complete guide to navigating the stock market. Oil (WTI) price on Jan. 3, 2023 Markets Insider10.

☆ The Biggest Debates and Opinions in 2022 - The New York Times
▼ + stars: | 2022-12-20 | by ( ) www.nytimes.com time to read: +30 min

Opinion The 22 Debates That Made Us Rage, Roll Our Eyes, and Change Our Minds in 2022Debating is what we do here at Times Opinion. To many, she was an icon: She ruled for 70 years, presided over the transition from empire to commonwealth and served as a living link to the generation that won World War II. (Though Ben Bernanke, a former Fed chairman himself, wrote in The Times that that wasn’t going to happen.) The United States and its European allies poured weapons and aid into Ukraine, but how was this going to end? As 2022 draws to a close, the fighting continues and peace talks look as distant as ever — which probably means that the debates will continue.

☆ Mike Novogratz backs off his call for bitcoin to hit $500,000 in 5 years, blaming the Fed's rate hikes
▼ + stars: | 2022-12-02 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Mike Novogratz believes it'll take longer than he previously expected for bitcoin to hit $500,000. Federal Reserve rate hikes have suppressed the token's value this year, the Galaxy Digital CEO said. Novogratz had previously predicted bitcoin would hit $500,000 within five years. "No, not in five years," he told Bloomberg TV when asked about a previous prediction he'd made that bitcoin would hit $500,000 by 2027. "The Fed's in control and they're doing a darn good job and that's the main reason why crypto went down," he said.

☆ Sam Bankman-Fried says he ‘got a little cocky’ before FTX collapsed
▼ + stars: | 2022-12-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN Business —Sam Bankman-Fried, the founder of now-bankrupt FTX, has fallen from the peak of crypto celebrity, but he’s not going quietly. “I think I got a little cocky — I mean, more than a little bit,” he told ABC’s George Stephanopoulos in an interview on Good Morning America. Bankman-Fried, echoing comments he also made to The New York Times on Wednesday, denied knowing of any improper transfers of customer funds between the exchange and Alameda. “I don’t think that’s who I am at all, but I understand why they’re saying that,” Bankman-Fried told Stephanopoulos. In that interview, Bankman-Fried said he “didn’t ever try to commit fraud on anyone,” while admitting he made mistakes as chief executive.

☆ FTX: Customers who trusted crypto giant may be left with nothing
▼ + stars: | 2022-11-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

But a liquidity crunch last week forced FTX to halt withdrawals, leaving customers and investors in limbo. In theory, FTX’s customers should get a cut of what’s left of the company’s assets at the end of the bankruptcy process. And FTT coins, the crypto token issued by FTX, have lost more than 90% of their value over the past week.) But I think this is actually good for the industry long-term.”The giant crypto exchange briefly emerged as a lifeline for FTX before reversing course last week. Correction: An earlier version of this article misstated the name of the law firm Loeb & Loeb.

☆ The Fed's jumbo-sized rate hikes will uncover more 'skeletons in the closet' for crypto after FTX's rescue, economist says
▼ + stars: | 2022-11-09 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Rising interest rates will cause further casualties in the crypto space, according to the Peterson Institute's Martin Chorzempa. FTX announced Tuesday it agreed to be taken over by rival exchange Binance, shocking investors. "We can expect a lot more problems to come," Chorzempa told CNBC. "We can expect a lot more problems to come," Chorzempa told CNBC on Wednesday. "When rates come up, a lot of skeletons that have been waiting in the closet in highly-speculative, highly-levered markets tend to come out."

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