In a discussion with Andrew Ross Sorkin of The New York Times, Sam Bankman-Fried blamed “huge management failures” and sloppy accounting for the collapse of the FTX cryptocurrency exchange.
Category: Venture Capital
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Ben Affleck and Matt Damon to Start Independent Production Company, Artists’ Equity
The New York Times – Business:Unlike streaming services and most studios, they plan to share profits with their actors and off-camera artisans.
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Elizabeth Holmes Is Sentenced to More Than 11 Years for Fraud
The New York Times – Business:Ms. Holmes was convicted in January of four counts of wire fraud for deceiving investors with claims about her blood testing start-up Theranos.
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Elizabeth Holmes to be Sentenced in Fraud Trial
The New York Times – Business:Ms. Holmes, founder of the failed blood testing start-up Theranos, is scheduled to learn her fate on Friday. She faces a maximum of 20 years in prison.
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Investors Who Put $2 Billion Into FTX Face Scrutiny, Too
The New York Times – Business:Venture capital firms and investment funds showered the failed crypto exchange and its founder with money. There were few strings attached.
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Macy’s Plans to Invest Millions to Fund Minority-Owned Businesses
The New York Times – Business:The department store chain is investing $30 million over five years to support entrepreneurs from underrepresented groups in the retail industry.
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Investors Await the Fed’s Next Move
The New York Times – Business:Markets expect another big interest rate increase on Wednesday. But investors are also anxious about the central bank’s coming moves.
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Peter Thiel, Major U.S. Political Donor, Is Said to Pursue Maltese Citizenship
The New York Times – Business:Obtaining citizenship in Malta would provide another passport for Mr. Thiel, who is one of the largest individual donors for the U.S. midterm elections.