DIRS.INFO The most relevant business & tech news

☆ EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources
▼ + stars: | 2022-11-12 | by ( Angus Berwick | ) www.reuters.com time to read: +6 min

The exchange's founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried's trading company Alameda Research, the people told Reuters. While it is known that FTX moved customer funds to Alameda, the missing funds are reported here for the first time. Asked about the missing funds, Bankman-Fried responded: "???" The documents showed that between $1 billion and $2 billion of these funds were not accounted for among Alameda's assets, the sources said. The U.S. Securities and Exchange Commission is investigating FTX.com's handling of customer funds, as well its crypto-lending activities, a source with knowledge of the inquiry told Reuters on Wednesday.

The crypto giant FTX and its affiliated companies have started the process of filing for Chapter 11 bankruptcy, with founder Sam Bankman-Fried stepping down as CEO. Bankman-Fried sent out a series of tweets on Friday stating his hope that FTX would be able to continue as a going concern following its bankruptcy. Media outlets have reported that the Securities and Exchange Commission and Justice Department are now investigating FTX. In the days following the report, rival crypto exchange Binance announced it was liquidating its FTT holdings. Unable to find an out, FTX announced its bankruptcy filing Friday morning.

☆ Crypto CEO warns his industry faces 2008-style crisis
▼ + stars: | 2022-11-11 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —The reeling crypto industry faces a 2008-style crisis that will lead to a much-needed regulatory crackdown, crypto CEO Changpeng Zhao warned on Friday. We’ve been set back a few years,” Zhao, the CEO of cryptocurrency exchange Binance, said during a conference in Indonesia. “Regulators, rightfully, will scrutinize this industry much, much harder, which is probably a good thing to be honest,” Zhao said. The Binance CEO accused FTX of “misappropriating” user funds. Bankman-Fried, the 30-year-old crypto wunderkind behind FTX, said on Friday he’s “really sorry” about what happened at his firm.

Masterson has been charged with raping three women between 2001 and 2003 but has not been charged with sexually assaulting Jane Doe #4. On cross-examination, Jane Doe #4 said about a month later, Masterson assaulted her again at her home. Asked by Deputy District Attorney Reinhold Mueller what happened the next morning, Jane Doe #4 said "Danny was there." Unlike the other accusers, Jane Doe #4 was not a Scientologist. Dua Anjum reported from Los Angeles and Corky Siemaszko from New York City.

☆ I took an $18-an-hour job in an Amazon warehouse to cure the spiraling depression I felt as a CEO. It worked — and gave me a new perspective on the industry.
▼ + stars: | 2022-10-27 | by ( Hannah Towey | Katherine Long | ) www.businessinsider.com time to read: +13 min

He quit his CEO job and began working 11-hour Amazon warehouse shifts during the company's busiest season. I decided to take a warehouse job at AmazonIt felt like the one thing I really needed for myself was some structure — wakeup times, some exercise — just to get out there somehow. Philip Su worked in an Amazon warehouse for seven weeks. My warehouse job lifted me out of my depressionI took the job because I was desperate for something to enforce regularity for me, and I very much benefited from Amazon doing that. Are you an Amazon warehouse worker with a story to tell?

☆ MLB roundup: Guardians clinch AL Central title for first time since 2018
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +13 min

Hunter Dozier capped the Royals' scoring with an RBI single to make it 13-11 following Ryan O'Hearn's two-run double. Astros 6, Orioles 3 (11 innings)Christian Vazquez's two-run single capped a four-run 11th inning and visiting Houston defeated Baltimore. Jeimer Candelario followed Schoop's RBI single with a run-scoring single of his own. The White Sox's loss allowed the Cleveland Guardians to clinch their first American League Central title since 2018. Yadier Molina had an RBI single for the NL Central-leading Cardinals, who dropped consecutive games to the Dodgers after winning Friday.

☆ Susquehanna downgrades PayPal to neutral, citing growing margin pressure at Braintree subsidiary
▼ + stars: | 2022-09-20 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Growth in payments subsidiary Braintree is hurting PayPal, according to Susquehanna. Analyst James Friedman downgraded the stock to neutral from positive, and lowered his price target, saying Braintree's higher transaction expenses and lower gross yields will create yield and margin pressure for PayPal in 2023 and 2024. "Braintree is quickly gaining share within PYPL's TPV, creating negative leverage from mix," Friedman wrote in a Tuesday note, referring to total payment volume. "Braintree's lower net transaction yield and gaining volume share explain much of the decline in PYPL's overall net transaction yields, and imply more stable yields within PayPal Core," the note says. Shares of PayPal cratered this year as traders pivoted away from fintech stocks amid growing inflation and recession concerns.

☆ How crypto billionaire Sam Bankman-Fried survived the market wreckage and still expanded his empire
▼ + stars: | 2022-09-16 | by ( Kate Rooney | ) www.cnbc.com time to read: +11 min

FTX also extended $500 million to struggling Voyager Digital, which later declared bankruptcy, and was in discussions to acquire South Korean crypto exchange Bithumb. While Bankman-Fried's cryptocurrency exchange FTX is suffering from the downturn in digital assets, he said market share growth helped offset the pain. FTX Trading Ltd. is headquartered in Antigua, with FTX Derivatives Markets based in the Bahamas, where Bankman-Fried lives. FTX Trading has acquired companies in Switzerland, Australia, Cyprus, Germany, Gibraltar, Singapore, Turkey and the United Arab Emirates, among other countries. watch nowLike Buffett, Bankman-Fried signed the Giving Pledge: a promise by the world's wealthiest individuals to donate the majority of their wealth to charity.

☆ A major investor who owns 40,000 rental homes can't find enough new supply, so it'll manufacture its own out of factories in Sun Belt states like Texas and Florida
▼ + stars: | 2022-05-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +4 min

The goal is for each of those factories to produce between 500 and 750 rental homes a year, Joe Butler, the head of Studio Built, told Insider. Modular homes meet the same standards of those built using traditional methods but are typically cheaper and faster to produce. Meanwhile, soaring mortgage rates have made homeownership more expensive, pushing more people into rental homes. Many of those people still want to live in single-family homes in good school districts, Nguyen said. "We believe that Studio Built is going to be a very long-term initiative that's going to be quite successful," Butler said.

This is “The Daily.” Last week, E. Jean Carroll came forward with the most serious allegation yet of sexual assault by the president. michael barbaroMegan, can you take us back to last Friday, when New York magazine published an article about E. Jean Carroll? e. jean carroll Because it’s Donald Trump, and I’ve got — it’s a thing. e. jean carroll I may have tried to hit him with my purse, I don’t know. e. jean carroll Went out through the building, got to Fifth Avenue, had my purse, because I picked up my phone.

☆ Dead of AIDS and Forgotten in Potter’s Field
▼ + stars: | 2018-07-03 | by ( Corey Kilgannon | ) www.nytimes.com time to read: +1 min

Trying to pin down the precise number of those with AIDS buried on Hart Island is difficult. A longstanding stigma about the island and criticism that the burial practices are crude and outdated have made city officials reluctant to provide many details. But piecing together an estimate is possible by surveying the many hospitals that treated AIDS patients during the epidemic and sent bodies to potter’s field. By that accounting, the number of AIDS burials on Hart Island could reach into the thousands, making it perhaps the single largest burial ground in the country for people with AIDS. One of them, Elsie Soto, 35, of the Bronx, learned recently that her father, Norbert Soto, who died in 1993 from AIDS, is buried on the island.

Persons: Elsie Soto, Norbert Soto Organizations: AIDS Locations: New York, Hart, AIDS

Search resuls for: "Piecing"

11 mentions found