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☆ FTX execs hid $8 billion in liabilities in a customer account that Bankman-Fried referred to as 'our Korean friend's account,' CFTC prosecutors allege
▼ + stars: | 2022-12-25 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Alameda Research borrowed billions of dollars of customer funds from FTX exchange. The firm's liabilities were then masked under a pseudonym account on FTX. Caroline Ellison and Gary Wang have pleaded guilty to numerous counts of fraud. The lawsuit also claimed that Bankman-Fried would later refer to that account as "our Korean friend's account" and/or "the weird Korean account." Wang pleaded guilty to four counts of similar charges.

☆ Analysis: Gaffe or insight? Deciphering Biden's unguarded answers
▼ + stars: | 2022-09-27 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

U.S. President Joe Biden speaks to reporters as he departs for Boston from Joint Base Andrews in Maryland, U.S., September 12, 2022. U.S. President Joe Biden's tendency to ad-lib in impromptu press situations is often referred to in Washington as his "gaffe" problem. After Biden spoke on defending Taiwan in a CBS News "60 Minutes" interview this month, officials quickly said that U.S. policy towards Taiwan is unchanged. His apparent willingness to commit U.S. forces to a battle in Taiwan clears up a long-standing disconnect in U.S. policy towards Taiwan. While Biden's off-the-cuff remarks sometimes reveal deeper truths about his policy or opinions, other times they are simply misleading.

☆ ESPN would help Disney and Comcast settle a score
▼ + stars: | 2022-09-23 | by ( Jennifer Saba | ) www.reuters.com time to read: +7 min

NEW YORK, Sept 23 (Reuters Breakingviews) - When it comes to modern corporate sagas, few deliver the drama between Walt Disney (DIS.N) and Comcast (CMCSA.O). Comcast Chief Executive Brian Roberts is in position to let his counterpart squirm, but there’s a neat solution to help settle the score: ESPN. He feared Comcast “would have paid more later.”Register now for FREE unlimited access to Reuters.com RegisterBefore long, Comcast clashed again with Disney. To settle the matter, the two parent companies agreed that in January 2024 Comcast could force Disney to buy its stake or Disney could require Comcast to sell based on a minimum valuation of $27.5 billion. Disney owns two-thirds of Hulu and Comcast owns the rest.

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