Sam Bankman-Fried’s crypto empire filed for Chapter 11 bankruptcy in Delaware, capping rapid downfall for the companies.
Entities tied to FTX.com, FTX US and trading firm Alameda Research Ltd. were part of the filings, according to a Twitter statement Friday. Chapter 11 bankruptcy lets a company continue operating while it works out a plan to repay creditors.
Bankman-Fried res…
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Walt Disney Co. on Wednesday sued Ron DeSantis, alleging that the Florida governor engaged in a political effort to hurt its business. It’s the latest escalation in a dispute that started more than a year ago.
Read more: Bob Iger Outsmarting Ron DeSantis Is a Master Class in Taking on Bullies
DeSantis’s criticism of Disney over its perceived lib…
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Consumers and businesses are increasingly starting to use digital tokens other than Bitcoin for purchases, according to BitPay Inc., one of the biggest crypto payments processors in the world.
Last year, Bitcoin’s use at merchants that use BitPay dropped to about 65% of processed payments, down from 92% in 2020, the company told Bloomberg. Ether purchases accounted for 15% of the to…
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European Commission President Ursula von der Leyen proposed that the bloc should step into the gas market to limit the price in relation to a key Dutch benchmark, which she said is no longer representative of the true cost.
She added that such a cap would still require a broad reduction in energy usage in the bloc.
To the untrained ear, Hester Peirce’s comment sounded anodyne, but everyone in the audience knew what she was doing: selling out her boss. “It’s fairly clear,” the U.S. Securities and Exchange commissioner said from the Washington conference stage, “that we’ve been taking an enforcement-first approach in an area where we should be taking a regulatory-first ap…
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Online critics are making calls to boycott Hershey after a trans woman was included on the chocolate bar’s wrappers for its International Women’s Day campaign in Canada.
The backlash is the most recent attack by conservative social media users against brands who they say are “too woke,” or in this case, “erasing women.”
#BoycottHersheys was the t…
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Born and raised in the Nigerian port city of Calabar, Abasi Ene-Obong remembers the exact moment that changed his life’s direction. Sitting in an introductory genetics class at medical school, in 2003, he heard the professor say that African genetic samples comprised less than 3% of health data bases in the world, creating a stunning vacuum in its ability to detect diseases and develop ef…
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Welcome to Money Questions, a series in which TIME provides expert-backed answers to your questions about debt, rising prices, high interest rates, the uncertain economic outlook, and more. While TIME can’t and won’t offer personal investment or financial advice, we hope this occasional feature will help you as you navigate this stressful and confusing time. Everyone’s fina…
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Pig-butchering scammers have likely stolen more than $75 billion from victims around the world, far more than previously estimated, according to a new study.
John Griffin, a finance professor at the University of Texas at Austin, and graduate student Kevin Mei gathered crypto addresses from more than 4,000 victims of the fraud, which has exploded in popularity since the pandemic. With blo…
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Before the pandemic struck, Lucy Jefferson spent nearly £50 ($57) a day commuting from London, where she had moved in 2019, to Birmingham, England where she worked as a product manager at a large U.K. bank. Although it was Jefferson’s choice to relocate 125 miles away, she believed that the 5 a.m. starts and two-and-a-half journey weren’t necessary for her to do her job well. …
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