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☆ Caroline Ellison, one of the central figures behind FTX's collapse, previously tweeted that regularly using amphetamines made the 'non-medicated' life seem 'dumb'
▼ + stars: | 2022-11-19 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Ellison is the CEO of Alameda Research, the hedge fund FTX reportedly used to borrow money for bets. In a 2021 tweet posted by Ellison, who is also the reported ex-girlfriend of FTX's disgraced founder, Sam Bankman-Fried, references regularly using amphetamines and how "dumb" the "non-medicated human experience" can be. Alameda Research filed for bankruptcy in early November along with other FTX Group-linked entities after failing to secure emergency funding. Although Bankman-Fried founded Alameda, Ellison has since emerged as an integral character in its demise. As the CEO of Alameda, Ellison has garnered scrutiny for her role in FTX borrowing money from customer accounts, CNN reported.

☆ If Twitter Crumbles, Will We Go Back to Talking in Real Life?
▼ + stars: | 2022-11-18 | by ( Jason Gay | ) www.wsj.com time to read: 1 min

Once upon a time, if you had a snarky or clever observation to make while watching a major national event like the Academy Awards, a political debate or a sad Detroit Lions turkey bowl, you could really only tell it in person, to whatever fools were stuck sitting with you, in real time. You’d say your snarky or clever thing about the Oscars, the debate or the Lions to a couple of buddies on the couch, and hope for a laugh (you quickly learned the difference between a genuine laugh and a charity guffaw). Maybe you’d be with your family, and you’d chase their approval, too. Maybe it’d be just you and the cat. Maybe it’d just be you, since the cat was outside, smoking a Merit.

☆ Sequoia Capital took a $213 million bath on FTX after the crypto exchange imploded. That's not that bad, VCs say.
▼ + stars: | 2022-11-10 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

FTX investor Sequoia Capital has marked down its position to $0 as the crypto exchange crumbles. Sequoia Capital now views its $213.5 million investment in FTX as worthless as the crypto exchange teeters on the brink of collapse after an eleventh-hour deal to salvage the business fell apart. "Somehow Sequoia capital turned a FTX write down to zero into a humblebrag. It invested $150 million into FTX through its third growth fund, which Sequoia said totaled less than 3% of that fund's capital commitments. In its letter to investors, Sequoia said it does "extensive research and thorough diligence" on every investment it makes.

FTX token - which gives holders discounts on FTX trading fees - was last trading at $5.33, having slumped by more than three-quarters. Tuesday's developments left FTX investors scrambling to figure out what the deal with Binance means for their investment in FTX, according to people familiar with the matter. In late 2019, Binance invested in FTX, then a far smaller exchange, before exiting the investment in July last year. By then FTX had mushroomed into a growing rival to Binance, which dominates the crypto industry with over 120 million users. "A *huge* thank you to CZ, Binance," Bankman-Fried wrote.

All eyes are turning to the latest U.S. inflation figures, but all tongues are wagging about the crash in crypto. U.S. rates market have been comfortable pricing an implied terminal rate above 5%, to be reached some time in the middle of next year, for over a week. Bitcoin sank 10% on Tuesday and 12% on Wednesday to a two-year low below $16,500. The web of holdings and investments between crypto and tech is murky, but real. Tesla shares sank to a two-year low on Wednesday, and Cathie Wood's ARKK Innovation ETF slumped to a five-year low - it is down 80% from its peak last year.

☆ Zadeh Kicks boss Michael Malekzadeh, who made millions taking payments for Nike Air Jordans he failed to deliver, faces multiple fraud charges
▼ + stars: | 2022-11-06 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A $300 million sneaker mogul is facing extensive fraud charges over the sale of popular shoes. He pre-sold Nike Air Jordan 11 Cool Grey sneakers for $115 to $200 a pair, while they retailed at $225. Malekzadeh has been charged with wire fraud, conspiracy to commit bank fraud which carries a 30-year maximum sentence, and money laundering. Malekzadeh, 39, from Eugene, Oregon, went on to accept preorder sales for 600,000 Air Jordans from customers, helping him rake in $70 million. Malekzadeh faces another lawsuit from American Express for unpaid charges, with the group pursuing him for millions more in damages, filings show.

☆ Diwali is having a mainstream moment in the US
▼ + stars: | 2022-10-23 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +8 min

South Asian Americans who celebrate Diwali can now pick up fireworks from Costco, greeting cards from Hallmark and party decorations from Target. Malai, a Brooklyn-based ice cream business inspired by South Asian flavors and ingredients, started selling its Diwali Celebration Box in 2019. “Sometimes I wonder if that just comes hand in hand with visibility.”Bavishi is encouraged by the recent abundance of Diwali products, both from small businesses and mainstream retailers. Does it matter whether the person or company behind a Diwali product is South Asian or not? I don’t know yet what the answer is,” Satpathy-Singh says, referring to mainstream retailers selling Diwali products.

☆ Sterling crumbles to all-time low, euro at 20-year low
▼ + stars: | 2022-09-26 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterBut it was sterling's slide that rippled across markets, down as much as 4.9% to an all-time low of $1.0327 . Sterling was also down 1% against the euro, having hit its lowest since September 2020 at 92.60 pence . The euro also touched a fresh 20-year trough at $0.9528 and was last down 0.5%. And the dollar index - where the basket includes sterling, the euro and the yen - reached 114.58 for the first time since May 2002, reflecting the greenback's broad strength. The risk-sensitive Australian dollar dropped to $0.64845, its lowest since May 2020, and the Canadian dollar touched 1.3638 to its U.S. counterpart, its weakest since July 2020.

☆ Sterling crumbles to all-time nadir, euro at 20-year low
▼ + stars: | 2022-09-26 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

Sterling also tumbled 1.3% against the euro, having hit its lowest since September 2020 at 92.60 pence . Kit Juckes, head of currency strategy Societe Generale in London, said markets had a tendency to overshoot but noted two points on sterling's slide. "The second is that the mini budget has allowed sterling to be the short of choice against the dollar." The euro also touched a fresh 20-year trough at $0.9528 , as the pound's slide rippled across markets. China's offshore yuan slid to a new low of 7.1728 per dollar, its weakest since May 2020.

☆ Sterling crumbles to record low, dollar soars on UK fiscal angst
▼ + stars: | 2022-09-26 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

Register now for FREE unlimited access to Reuters.com RegisterWoman holds British pound banknotes in this illustration taken May 30, 2022. The British pound's searing drop helped the safe-haven U.S. dollar to a new two-decade peak against a basket of major peers. Fellow commodity currency the Canadian dollar reached a fresh trough at C$1.3625 per greenback, its weakest since July 2020. China's offshore yuan slid to a new low of 7.1630 per dollar, its weakest since May 2020. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Buckland Editing by Shri Navaratnam and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ Reactions: Britain's pound crumbles to record lows in firesale of UK assets
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +8 min

Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File PhotoLONDON, Sept 26 (Reuters) - Britain's pound plunged to record lows on Monday and bonds were slammed for a second day, as investors punished UK assets after the government's mini-budget announcement last week. The presentation of the mini-budget was received quite badly by the markets – sterling literally collapsed. The significant tax cuts announced by the Treasury Secretary cause concerns for the currency markets because of rising government debt." One is the loss of confidence in UK fiscal policy and that won't help sterling.

☆ From vegan meatballs to ice cream sundaes, airlines are revamping in-flight menus
▼ + stars: | 2022-09-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

From vegan meatballs to ice cream sundaes, airlines are offering new options and old favorites to woo returning travelers. The pandemic drove airlines to record losses and had them looking to cut costs wherever possible, such as in-flight food. Chasing high-paying travelersBetter in-flight menus can boost a carrier's image and help it bring more high-paying travelers on board. A plethora of videos have been posted online by airline passengers reviewing meals, plating and service in detail. Veggie and veganEven before the pandemic, airlines were expanding options for travelers who prefer vegetarian and vegan meals.

☆ Yotam Ottolenghi Has Made Thousands of Meringues. This Is His Favorite.
▼ + stars: | 2022-08-10 | by ( Yotam Ottolenghi | More About Yotam Ottolenghi | ) www.nytimes.com time to read: +2 min

After that, I worked in a pastry shop in which meringues were multifunctioning as treats for sale as well as window decoration. Round meringues, each the size of a small fist, sprinkled with flaked almonds and piled up to heights where no other cake would be safely placed. Meringues’ natural sturdiness means they can be plucked from a distance with long tongs with little risk of breakage. These meringues are fully cooked in the middle, which allows you to break them up and mix them with whipped cream or ice cream, or even both. To the egg whites and sugar, a small amount of vinegar and some cornstarch are normally added.

Persons: chewy, —, meringues, pavlova

☆ Vegemite and more: An A to Z of the top foods and drinks Australians love most
▼ + stars: | 2018-01-20 | by ( Brooke Chenoweth | ) edition.cnn.com time to read: +19 min

“During the Second World War, Vegemite captured the Australian market. Marmite was unobtainable and the Australian Army supplied Vegemite to its troops,” says the museum in a post highlighting defining symbols of Australia. “In the 1950s and 60s, despite acquisition by the American company Kraft, Vegemite became a distinctively ‘Australian’ food. 🥳No round-up of Aussie foods would be complete without this ubiquitous salty brown spread, which turns 100 on October 25. For those living in countries where it’s not yet exported, Vegemite comes in massive 560 gram jars and travel-sized tubes.

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