Ftx

Share to Twitter Share to Linkedin In a match made by WME, Fortune and Unrealistic Ideas plan to collaborate on a documentary that seeks to find the truth behind the massive fallout of crypto empire, FTX. In an exclusive story from The Hollywood Reporter , the documentary is described as “a personal examination of the relationship between FTX founder Sam Bankman-Fried (SBF) and Binance founder Changpeng “CZ” Zhao” whose starkly different upbringings perfectly juxtapose the kind of characters made for the big screen. SBF, who had the confidence and connected privilege often associated with an Ivy League upbringing like his, created quite the esoteric business relationship with CZ, who at 12, fled to Canada from China, going on to take odd jobs including one at McDonald’s to help keep his family afloat, an often familial obligation many East Asian immigrant children are raised with. Born out of cryptocurrency’s rapid mainstream adoption, both Binance and … [Read more...] about Fortune And Unrealistic Ideas Bring FTX Crypto Empire Downfall To Life In Documentary

The U.S. Securities and Exchange Commission (SEC) is planning to scale back proposed rules mandating that companies disclose climate-related data alongside traditional financial reporting, after the agency was surprised by major blowback from affected groups, The Wall Street Journal reported Friday, citing people close to the agency. The proposed rules, announced in March 2022, would require companies to include data about both the way climate change might harm their business and the affect that their business might have on the environment via greenhouse gas emissions, according to the SEC. However, the plan was criticized by companies, investors and lawmakers for implementing onerous reporting rules, and even the pared down regulations are expected to face legal challenges, the WSJ reported . WASHINGTON, DC – OCTOBER 03: U.S. Treasury Secretary Janet Yellen speaks with Securities and Exchange Commission (SEC) Chair Gary Gensler (R) during a meeting with the Treasury … [Read more...] about Biden Admin Rethinks Signature Climate Policy After Major Blowback: REPORT

Share to Twitter Share to Linkedin Topline Identity management company Okta announced plans on Thursday to lay off roughly 300 employees, one day after FedEx, DraftKings, cloud data company NetApp and automaker Rivian all announced major rounds of layoffs—the latest U.S. companies to implement job cuts as recession fears continue into 2023. Timeline February 2 Okta CEO Todd McKinnon unveiled plans to reduce the tech company’s workforce by 5% (roughly 300 positions) in a Securities and Exchange Commission filing on Thursday, citing a period of over-hiring over the past several years that did not account for the “macroeconomic reality we’re in today.” February 1 NetApp , a San Jose, California-based cloud data company, announced plans in an SEC filing to lay off 8% of its staff ( estimated to affect 960 employees) by the end of the fourth fiscal quarter of 2023 “in light of the macroeconomic challenges and reduced spending environment.” … [Read more...] about 2023 Layoffs: Okta Slashes 300 Jobs As DraftKings, FedEx Cut Staff

Share to Twitter Share to Linkedin Bitcoin BTC , ethereum and other major cryptocurrencies have rocketed higher over the last month as the Biden administration unveils a game-changing crypto "roadmap." Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the latest bitcoin and crypto market crash The bitcoin price has climbed above $24,000 per bitcoin this week, up 40% since the beginning of the year to a level not seen since last summer ( earning it a surprise spot on Goldman Sachs 2023 best-performing assets list ). Now, after the Federal Reserve delivered a "surprise" blow to bitcoin and crypto , Binance chief executive Changpeng "CZ" Zhao has warned Wall Street giants could "fall behind" on technology adoption due to the failure of the crypto companies over the last year. It's in a brutal bear market that you need up-to-date information the most! Sign up now for the free … [Read more...] about Binance CEO Issues ‘Existential’ Warning After Wild Bitcoin, Ethereum And Crypto Price Swings

Representative image Core Scientific Inc, one of the biggest publicly traded cryptocurrency mining companies in the United States, said on Wednesday it filed for Chapter 11 bankruptcy protection, the latest in a string of failures to hit the sector. Trillions in value has been wiped out from the crypto sector this year on rising interest rates and exacerbating worries of an economic downturn. The slump has eliminated key industry players such as Three Arrows Capital and Celsius Network. The bigger blow came after major crypto exchange FTX filed for bankruptcy protection last month. Its swift fall has also sparked tough regulatory scrutiny of how crypto firms hold funds and conduct business operations. After rapid growth in 2020 and 2021, bitcoin – the most popular digital currency by far – is down more than 60% this year. Austin, Texas-based Core Scientific said it would not liquidate and would continue to operate normally, as it expects to enter into a restructuring … [Read more...] about Crypto miner Core Scientific files for bankruptcy as industry contagion bites

Share to Twitter Share to Linkedin Updated with news of Google’s $300 million investment in chatbot-maker Anthropic, paragraph 9. ChatGPT has hit an estimated 100 million monthly active users making it the fastest growing consumer internet application in history according to a UBS study. UBS analysts peg its total addressable market to be $1 trillion, reported Yahoo Finance . Ever since its launch on Nov. 30, the clever ask-me-anything tool has been the go-to-resource for advice on just about any topic it’s been trained on and can complete complex tasks like debugging code, doing research and writing articles in an endearing human-like tone. Some news organizations like BuzzFeed have embraced it, striking a $10 million deal with Meta to provide Facebook and Instagram with AI-generated content leveraging the technology, according to Reuters . While others like Forbes have banned it. And there’s been a proliferation of AI detectors popping up to stop … [Read more...] about ChatGPT Hits 100 Million Users, Google Backs Claude Bot And CatGPT Goes Viral