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Companies FTX Trading Limited FollowMarch 20 (Reuters) - Bankrupt crypto exchange FTX on Sunday sued the liquidators overseeing the wind-down of its Bahamian affiliate FTX Digital Markets, accusing them of wrongly claiming ownership of the exchange's assets. FTX called FTX DM a "fraudulent enterprise", initially set up only to be a "local service company", which did not own the FTX.com exchange or any of the cryptocurrency seized. FTX has been at odds with Bahamian officials ever since filing for bankruptcy protection on Nov. 11. The Securities Commission of the Bahamas began liquidation proceedings against FTX DM a day before the U.S. bankruptcy filing of FTX Trading and more than 100 affiliates, and the two sides have sparred over ownership of FTX assets and access to company data. FTX reported this month that Bankman-Fried took $2.2 billion in funds from the company during a period when the crypto exchange lost $8 billion of customer money.

☆ Elon Musk's office sleeping habits have existed since the early 1990s, according to a book about his first startup
▼ + stars: | 2023-03-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Per "The Founders," Musk's company rented a "spartan Palo Alto office space," and he would sleep at the office and shower at the nearby YMCA. Soon after taking over Twitter, Musk similarly said he would be sleeping at the office "until the org is fixed." Back at Zip2, Soni describes a "perpetually sleep-deprived" Musk openly berating other executives and colleagues in 1996. Musk's sleeping habits continued at his second company, too, as the company's cofounder Harris Fricker told Soni. In February, Musk said he has worked an average of more than 120 hours a week after taking over Twitter.

Americans can access free credit reports from the credit bureaus every week until the end of 2023. However, since April 2020, Americans have been allowed to check their credit reports for free once per week. A Consumer Reports survey found that 34% of consumers have found an error on at least one of their credit reports. Weekly credit reports frequently asked questions (FAQ)Will checking my credit report every week lower my credit score? Because consumers can request their credit reports every week, credit monitoring services aren't nearly as necessary as they were pre-pandemic.

☆ Cars leased in 2020 are worth an average $4,000 more than expected. These models have fared the best
▼ + stars: | 2023-02-24 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Newsday Llc | Newsday | Getty Images3.3 million cars were leased in 2020An estimated 3.3 million leases were originated in 2020, according to Edmunds. "February 2023 trade-in equity is still more than double the pre-pandemic level," said Thomas King, president of the data and analytics division at J.D. Leased models that have the most extra valueAmong cars leased in 2020, the Mercedes-Benz GLS-Class has the highest dollar difference between current trade-in value ($62,257) and its originally estimated residual value ($50,942). The Toyota Sienna has a trade-in value ($30,207) that's $8,741 (or 41%) higher than the $21,465 residual value. If you want to try capitalizing on the positive equity as a trade-in or for cash, start by finding what your vehicle is worth.

☆ Website creator Wix.com sees strong sales in 2023 after Q4 profit
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, Feb 22 (Reuters) - Wix.com (WIX.O), which helps small businesses build and operate websites, said on Wednesday it swung to a profit in the fourth quarter and forecast 9-11% growth in revenue in 2023. The Israeli company said it earned 61 cents per share excluding one-time items, compared with a loss of 34 cents per share a year earlier. Wix was forecast to earn 9 cents a share ex-one off items on revenue of $352 million, according to data from Refinitiv. Wix said it was implementing further cost saving measures, and expected total savings of $200 million in 2023 and $215 million of annualized savings. Analysts are projecting first-quarter revenue of $366 million and full year revenue of $1.511 billion.

☆ Stocks making the biggest moves midday: Palo Alto Networks, Coinbase, Dick's Sporting Goods, Amazon and more
▼ + stars: | 2023-02-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Coinbase — Shares of the cryptocurrency exchange fell 5% even after Coinbase reported a smaller-than-expected loss for the fourth quarter. Palo Alto Networks — The software company's stock gained more than 11% after its fiscal second-quarter earnings and revenue beat analysts' estimates. Wingstop — Wingstop shares jumped 8% after topping analysts' estimates for the recent quarter, according to FactSet. Baidu — U.S.-listed shares of the Chinese tech company fell more than 3%, despite Baidu topping revenue estimates for the recent quarter. Wix.com — Shares of the website developer company surged nearly 14% after beating analysts' estimates for the fourth quarter, according to FactSet.

☆ Here are Friday's biggest analyst calls: Tesla, Nvidia, Roku, Coinbase, DraftKings, Disney & more
▼ + stars: | 2023-02-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Friday: Compass Point upgrades Coinbase to buy from neutral Compass said the "long-term opportunities outweigh near-term risks." Goldman Sachs reiterates Tesla as buy Goldman said it's bullish heading into the company's investor day on March 1. KeyBanc reiterates Nvidia as overweight KeyBanc raised its price target on the stock to $280 per share from $220. Daiwa reiterates Disney as buy Daiwa said it sees international growth for Disney which will further drive parks outperformance. Evercore ISI adds a positive tactical call on Walmart Evercore said it's bullish on Walmart heading into earnings next week.

☆ Exclusive: Starboard to challenge engineering materials maker Rogers' board -sources
▼ + stars: | 2023-02-04 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

The board challenge comes after chemical company DuPont (DD.N) in November walked away from a $5.2 billion deal to acquire Rogers because it failed to secure regulatory approval for the transaction in China. Starboard and Rogers did not respond to requests for comment. Its stock price tumbled after the DuPont deal was scrapped and is down 47% over the last 52 weeks. The company has made changes since the DuPont deal fell apart. Starboard has been active, including recent bets on cloud-based software company Salesforce (CRM.N), software company Splunk (SPLK.O) and website maker Wix.com (WIX.O).

☆ What Elon Musk has said publicly — and in private texts — on his ideas for Twitter and X, an 'everything app'
▼ + stars: | 2023-02-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +8 min

Elon Musk has discussed his plans for X, an "everything app," on Twitter and in private texts. AP Photo/Jacquelyn MartinPrivate texts about a blockchain-based platformMusk has also discussed creating a social media platform built on a blockchain. In April, the billionaire privately outlined his idea for a "Doge" social media platform in texts to his younger brother, Kimbal Musk. "I have an idea for a blockchain social media system that does both payments and short text messages/links like Twitter," Musk texted. Shortly after buying Twitter, Musk began charging Twitter users for the app's blue check mark.

Sign up for a credit monitoring service such as Credit Karma to keep tabs on updates to your credit report. Even the best identity theft companies and best credit monitoring services usually stop short of reporting errors on your credit report to the credit bureaus. Credit report dispute frequently asked questions (FAQ)How common are credit report errors? Experian credit freeze: To freeze your credit at Experian, you can visit Experian's online Freeze Center. TransUnion credit freeze: You can request a TransUnion credit freeze through their online portal.

☆ Self-made millionaire: Here are 8 things rich people do differently that make them 'ultra wealthy'
▼ + stars: | 2023-01-29 | by ( Grant Cardone | ) www.cnbc.com time to read: +4 min

But I wish I had known sooner how ultra wealthy people think about money. Instead, cash-flow real estate is the place to protect and grow money. On the flip side, cash-flow real estate — commercial real estate where you are making a monthly profit off of rent after your mortgage payments, property taxes and maintenance — is a great way to grow your money. This can apply to a business — the rich may contract to buy bulk supplies or equipment — or to you personal life. And most of the real estate I own today was purchased from sellers who picked me over other qualified buyers because we had existing relationships, and they had confidence in my ability to close.

The 2023 NFC Championship game will air January 29 at 3 p.m. Philadelphia finished the season with the best record in the NFC and reached the NFC Championship game with an impressive win over their division-rival New York Giants. How to watch the NFC Championship game without cableYou can watch the NFC Championship game on Fox at 3 p.m. You can also subscribe to a live TV streaming service like YouTube TV, Sling TV, FuboTV, or Hulu + Live TV to watch the NFC Championship game on Fox. If you only want to stream the NFC Championship on your phone or tablet, NFL+ offers streaming on mobile devices for $5 a month.

☆ I'm an HR executive that was just laid off from Vox Media. I've been preparing for this since my first day on the job.
▼ + stars: | 2023-01-27 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Last Friday, I was informed that I was being laid off from my position at Vox Media. Today is my last day as executive director of talent and development for Vox.com after one year at the company. "What's the difference between the life I'm experiencing now and the one I want to have? It's about what kind of life I'm trying to live. At the end of the day, there is no job that's 100% secure because companies exist to thrive and drive profits.

☆ New FTX Chief Says Crypto Exchange Could Restart
▼ + stars: | 2023-01-19 | by ( Alexander Saeedy | Alexander Osipovich | ) www.wsj.com time to read: 1 min

FTX’s new chief executive, John J. Ray III, said he’s looking into the possibility of reviving the bankrupt crypto exchange as he works to return money to the failed company’s customers and creditors. In his first interview since taking over FTX in November, Mr. Ray said that he has set up a task force to explore restarting FTX.com, the company’s main international exchange. Although top FTX executives have been accused of criminal misconduct, some customers have praised its technology and suggested that there would be value in rebooting the platform, he said.

☆ An FTX executive flagged worries about Alameda Research's use of customer funds to Sam Bankman-Fried as early as 2020, report says
▼ + stars: | 2023-01-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A senior FTX exec raised concerns about Alameda Research's use of customer funds as early as 2020. CEO Sam Bankman-Fried dismissed the concerns saying the funds were backed by FTX's cryptocurrency, FTT. This information, the Times reports the governments documents as saying, led the executive to believe Alameda was "inappropriately using FTX.com customer funds," and to take that information to Bankman-Fried. Bankman-Fried dismissed the concerns, the Times report says, because the money was backed by FTX's cryptocurrency, FTT. Insider previously reported how the Securities and Exchange Commission's complaint against SBF revealed that Alameda's FTX account had special treatment.

☆ New FTX chief says bankrupt crypto exchange could restart - WSJ
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

Jan 19 (Reuters) - Bankrupt crypto exchange FTX is looking into the possibility of reviving its business, Chief Executive Officer John Ray told the Wall Street Journal on Thursday. Ray, who took over the reins in November, has set up a task force to explore restarting FTX.com, the company's main international exchange, he said in an interview with the WSJ. "I'm glad Mr. Ray is finally paying lip service to turning the exchange back on after months of squashing such efforts!" "I'm still waiting for him to finally admit FTX US is solvent and give customers their money back," Bankman-Fried added. Bankman-Fried has been accused of stealing billions of dollars from the exchange's customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research.

☆ FTX lost $415 million worth of crypto in hacker heists, the collapsed exchange's new bosses say
▼ + stars: | 2023-01-18 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

FTX lost $415 million worth of crypto to hackers, its new bosses said Tuesday. "It has taken a Herculean investigative effort from our team to uncover this preliminary information," acting CEO John Ray said. Around $415 million of the assets for recovery had been lost in crypto hacks, FTX's new bosses said. Hackers stole $323 million from the Bahamas-based parent company FTX.com, $90 million from FTX, and $2 million from sister trading firm Alameda Research, according to the presentation. As well as the exchange's crypto and cash holdings, they identified $253 million worth of real estate in the Bahamas as potential assets for recovery in Tuesday's presentation.

☆ FTX says $415 million of crypto was hacked
▼ + stars: | 2023-01-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Bankrupt crypto firm FTX said on Tuesday that $415 million worth of crypto was hacked from the exchange's accounts, representing a sizeable portion of the identified assets the company is trying to recover. However, that includes "unauthorized third-party transfers" of $323 million out of FTX.com (the international business) and $90 million out of FTX US, the company said in a statement. Another $2 million of hedge fund Alameda Research's crypto was also stolen. At the time, the stolen crypto was valued at $477 million, according to blockchain analytics firm Elliptic. FTX's advisors are also reviewing a $2.1 billion share repurchase payment from FTX to crypto exchange Binance in the third quarter of 2021.

☆ I performed magic tricks for Elon Musk at a PayPal reunion party. Here's what went down.
▼ + stars: | 2023-01-15 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +5 min

Chan performed tricks for PayPal's 20th IPO anniversary last year, with Elon Musk also attending. Two decades later, I had the opportunity of a lifetime to perform magic tricks for my old company at PayPal's 20th IPO anniversary party in August. The invitation said it would be a "tricked-out PayPal reunion party" and I was very excited in the build-up. Daniel ChanMost of the PayPal founders, known as the "PayPal Mafia," were there, including Elon Musk, Peter Thiel, David Sacks, and Max Levchin. I fooled Elon Musk.

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Tesla, Netflix, Roku, Disney, Exxon & more
▼ + stars: | 2023-01-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the Thursday's biggest calls Wall Street: Credit Suisse upgrades AECOM to outperform from neutral Credit Suisse said the company is a key beneficiary of infrastructure stimulus. UBS reiterates Apple as buy UBS said it's sticking with its buy rating on the stock but is concerned about App Store revenue declines. Credit Suisse upgrades Boeing to neutral from underperform Credit Suisse said in its upgrade of Boeing that it sees "stronger aircraft deliveries." RBC names Meta a top 2023 pick RBC said it sees "multiple expansion" on the horizon for Meta shares. " Rosenblatt reiterates Disney as buy Rosenblatt said activist investor Nelson Peltz's push for a Disney board seat could help shares.

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☆ The dollar jumps to a 4-week high as traders place bets on more Fed rate hikes after strong private payrolls report
▼ + stars: | 2023-01-05 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

A closely watched measure of the US dollar pushed to its highest in about a month on Thursday after a strong ADP jobs report. The US Dollar Index climbed past 105 for the first time since early December as the Fed is likely to stick to hiking interest rates. "Accordingly, traders have pushed up their expectations for the terminal interest rates in the US," with June fed funds futures contract implying a peak interest rate of above 5%. Such a move would put the fed funds rate at a range of 5.25% to 5.5%. The Fed views inflation as still "unacceptably high," the minutes showed.

☆ FTX Customers Want Identities Redacted From Bankruptcy Filings
▼ + stars: | 2022-12-29 | by ( Andrew Scurria | ) www.wsj.com time to read: 1 min

A group of FTX’s international customers asked for a court order shielding their names from the public, spotlighting a privacy issue that has divided bankruptcy courts in other crypto-related cases. Unnamed customers of FTX.com, the failed company’s largest exchange platform outside the U.S., said in court papers Wednesday their interest in keeping their identities and contact information secret trumps the public’s interest in an open and transparent bankruptcy process. Public disclosure of customer identities puts them at risk of identity theft and cyber scams, and could diminish whatever value remains in FTX, according to the customer group.

☆ Americans still haven't felt the worst of the war on inflation, meaning 2023 will be 'survival of the fittest'
▼ + stars: | 2022-12-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

The Federal Reserve hiked interest rates seven times during 2022 to fight inflation. He believes the new year will bring a whole host of different challenges for small businesses. "I believe that we're going to see small businesses dropping like flies, and competition thinning out among the pandemic entrepreneurs," Gray said. With nearly half of Americans employed by small businesses, financial hardship to the sector could significantly impact the overall workforce. "Just since June, the rates have gone up almost 3% so capital is getting a lot more expensive for small businesses generally," Wallace told Insider.

☆ Inside the relationship between Sam Bankman-Fried's FTX and Solana, the blockchain he championed whose token is down 96% from its highs
▼ + stars: | 2022-12-29 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Sam Bankman-Fried was a big supporter of Solana, the layer-1 blockchain that bills itself as a faster alternative to Ethereum's network. He backed projects on its ecosystem, and his firms amassed huge sums of the blockchain's native token, also called Solana (SOL). The disgraced former crypto mogul backed projects in its ecosystem, and his firms amassed huge sums of the blockchain's native token, also called Solana (SOL). Meanwhile, Bankman-Fried's hedge fund Alameda Research and crypto exchange FTX purchased large sums of SOL tokens from the Solana Foundation, the nonprofit that supports the blockchain, and Solana Labs, the blockchain's developer. That's despite the fact that around 80% of projects on Solana's blockchain had zero exposure to FTX, Yakovenko told Bloomberg.

☆ Gulf markets rise on China optimism, Saudi leads
▼ + stars: | 2022-12-27 | by ( Ateeq Shariff | ) www.reuters.com time to read: +2 min

China will stop requiring inbound travellers to go into quarantine starting from Jan. 8, the National Health Commission said on Monday. Saudi Arabia's benchmark index (.TASI) gained 1.3%, led by a 1.8% rise in Al Rajhi Bank (1120.SE) and a 1.9% increase in oil giant Saudi Aramco (2222.SE). The Saudi stock market rose today while oil markets' prospects improved with China opening up, said Fadi Reyad, chief market analyst at CAPEX.com. "However, the main index remains near its lowest levels this year and could be at risk of other price corrections." According to Reyad, the Qatari index continued to decline under the weight of the natural gas market's performance.

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