Bitcoin Booster Peter Thiel Takes a Hit in BlockFi Bankruptcy

Markets Currencies Cryptocurrency Thiel’s Valar Ventures had a 19% stake in the crypto lender, according to documents filed with the bankruptcy court

‘We’re headed for a family feud’: My father offered his 3 kids equal monetary gifts. My siblings took cash. I took stock. It’s soared in value — now they’re crying foul

Dear Quentin, Several years before my father’s death, he offered me and my two siblings each an early “cash gift” from his estate in the amount of whatever the maximum non-taxable amount was at the time. He was an active investor and offered the gift in the form of the stock instead of cash. My siblings … Read more

They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire

NASSAU, Bahamas—Sam Bankman-Fried’s $32 billion crypto-trading empire collapsed in an incandescent bankruptcy last week, prompting irate customers, crypto acolytes and Silicon Valley bigwigs to ask how something that seemed so promising could have imploded so fast. The emerging picture suggests FTX wasn’t simply felled by a rival, or undone by a bad trade or the … Read more

Oil Prices Could Rise After Latest EU Sanctions on Russia

The European Union’s ban on seaborne imports of Russian oil, along with the Group of Seven’s plan to cap prices of oil from Russia early next month won’t guarantee that prices for the commodity will see a lasting rally, or that supplies will tighten further in the days ahead. “In isolation, the sanctions on Russia … Read more

FTX bankruptcy is ‘somebody running a company that’s just dumb-as-f—ing greedy,’ says Mark Cuban

Billionaire tech entrepreneur and Dallas Mavericks owner Mark Cuban has offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking greedy.’” — Mark Cuban Cuban, speaking on Friday at a conference in Washington, D.C., hosted by Sports Business Journal, shared the view that avarice … Read more

FTX collapse nothing like Theranos, says Tim Draper

Tim Draper, founder and managing partner of Draper Associates and Draper University, balked at comparing the stunning implosion of crypto trading platform FTX to the notorious biotech startup Theranos, in a conversation with MarketWatch. “It’s not like Theranos,” he said. In a Friday phone interview, Draper said he hadn’t been aware of anyone genuinely comparing … Read more

Investors may be whistling past the graveyard of a recession with latest rally in stocks

Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more

FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall

FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall

Binance Walks Away From Deal to Buy FTX

Binance Walks Away From Deal to Buy FTX

Fed says it may hike interest rates at slower pace, but destination is now 5% or higher

The Federal Reserve on Wednesday approved the fourth straight jumbo increase in a key U.S. interest rate and signaled rates are likely to go higher than previously forecast. News of a higher terminal rate overshadowed more dovish comments from the central bank statement that it might move more slowly to better evaluate the effects on … Read more