Wednesday marks the second day of Former Alameda Research CEO Caroline Ellison's testimony in court against her ex-boyfriend and FTX Co-Founder Sam Bankman-Fried. Axios Crypto Reporter Brady Dale highlights the biggest takeaways from Ellison's statements in the fraud trial. "The prosecution showed copious documentation yesterday," the journalist explains. "We had extremely detailed looks at these various spreadsheets that Caroline had made in 2021, where Sam... was making a decision, should I borrow another $3 billion from crypto lenders backstopped by FTX customer funds, and he asked Caroline to prepare spreadsheets, if various bad scenarios happen could they still repay them." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Wednesday marks the second day of Former Alameda Research CEO Caroline Ellison's testimony in court against her ex-boyfriend and FTX Co-Founder Sam Bankman-Fried. Axios Crypto Reporter Brady Dale highlights the biggest takeaways from Ellison's statements in the fraud trial.
"The prosecution showed copious documentation yesterday," the journalist explains. "We had extremely detailed looks at these various spreadsheets that Caroline had made in 2021, where Sam... was making a decision, should I borrow another $3 billion from crypto lenders backstopped by FTX customer funds, and he asked Caroline to prepare spreadsheets, if various bad scenarios happen could they still repay them."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
"CoinDesk Daily" breaks down the biggest crypto headlines today, including the details of former Alameda Research CEO Caroline Ellison's testimony in the criminal trial against FTX founder Sam Bankman-Fried. The U.S. Securities and Exchange Commission (SEC) is getting new support in its legal case against Coinbase. And, JPMorgan debuts tokenized BlackRock shares as collateral with Barclays.
Technical and seasonal indicators that investors use to gauge the U.S. stock market's health show it may be time to buy, though upcoming inflation data and the third-quarter earnings season could still throw Wall Street a curveball. The S&P 500 has slid about 5% since reaching its late-July high, but so far this month the benchmark index has rebounded. Technical analysts see a case for the rally to continue, pointing to indicators showing stocks may be oversold and historical evidence showing year-end is typically a strong period for equities.
The head of Exxon Mobil's multi-billion-dollar shale oil business on Oct. 25 is scheduled to be appear before a Texas judge to enter a plea on a sexual assault charge, according to court records. Exxon Senior Vice President David Scott, 49, was arrested last week and charged with a second-degree felony for sexually assaulting a woman at a hotel near the company's Spring, Texas, headquarters. Police were called to the hotel last Thursday and arrested Scott after viewing video security footage of Scott and two women who accompanied him, a worker has said.
By the time Bankman-Fried posted that tweet, Alameda had already made certain venture investments, but the executive wanted to up the ante significantly. In the "summer or fall of 2021," Bankman-Fried sent Ellison a potential bad scenario situation for FTX and Alameda, detailing a world in which the crypto market was down, Alameda's investments plunged and the company becomes worthless.
HELSINKI (Reuters) -A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. Finland joined the military alliance in April, while Estonia has been a member since 2004. The Balticconnector gas pipeline was shut early on Sunday on concerns that gas was leaking from a hole in the 77-km (48-mile) pipeline.
(Bloomberg) -- Jurors in the fraud trial of FTX co-founder Sam Bankman-Fried heard his ex-girlfriend Caroline Ellison explain how he allegedly arranged for billions of dollars in customer funds to back risky investments that led to the collapse of the cryptocurrency exchange.Most Read from BloombergIsrael Latest: Sirens Sound in North, Biden Speaks to NetanyahuIsrael Latest: Israeli Death Toll in Hamas Attack Reaches 1,200Israel Forms Emergency Government for War Against HamasHamas Got Around Is
Davita and Baxter stocks were tumbling Wednesday following news that diabetes drug Ozempic showed success in a trial for kidney failure. Novo Nordisk (ticker: NVO) [said](https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.
It probably is possible for most people to retire at age 55 if they have $2.5 million in savings. The ultimate answer, though, will depend on the interplay between various factors. These include your health, your anticipated retirement lifestyle and … Continue reading → The post Can I Retire at 55 With $2.5 Million? appeared first on SmartAsset Blog.
NEW YORK (Reuters) -Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilise the market. U.S. West Texas Intermediate (WTI) crude fell $2.55, or 3.0%, to $83.42. Brent and WTI had surged more than $3.50 on Monday on concern the clashes between Israel and Palestinian Islamist group Hamas could escalate into a broader conflict that could disrupt global oil supply.
Shares of dialysis service providers fell sharply on Wednesday after Novo Nordisk's Ozempic showed early signs of success in delaying the progression of kidney disease in diabetes patients. Colorado-based DaVita's shares fell about 16%, to $76.62, and U.S.-listed shares of German rival Fresenius Medical were down 16.7%, to $17.44, in early trading. Shares of U.S.-based Baxter International, which makes products used by dialysis therapy providers, also fell 5.8%, to $35.14.
NEW YORK (Reuters) -Caroline Ellison, the former co-head of Sam Bankman-Fried's hedge fund, testified at his fraud trial on Wednesday that he had her falsify the firm's financial statements to keep a major lender at bay amid a downturn in cryptocurrency markets in 2022. Ellison, the former co-chief executive of Alameda Research, said that as some lenders demanded repayment, Bankman-Fried told her to come up with "alternative ways" to present the firm's liabilities to keep more loans from becoming due. Bankman-Fried had her send lender Genesis Global Capital a balance sheet concealing that Alameda had borrowed around $10 billion in customer funds from the FTX cryptocurrency exchange, she said.
NCR Corp is in advanced discussions to merge its automatic teller (ATM) business with cash management firm Brink's Co, creating a combined company worth close to $12 billion, including debt, people familiar with the matter said. The deal, structured as a reverse morris trust, would allow NCR to merge the ATM business at a $5.5 billion valuation, or the equivalent of seven times 2024 earnings EBITDA (earnings before interest, taxes, depreciation and amortization), with Brink's and give a large chunk of the combined company to NCR shareholders tax free, the sources said. Brink's, which is valued at about $6.2 billion including debt, moves cash around the world for its clients and provides ATM services among other things.