Meta denies Mark Zuckerberg to resign next year

Meta Platforms spokesperson Andy Stone said in a tweet on Tuesday that a report on Chief Executive Officer Mark Zuckerberg stepping down next year was false. News website The Leak earlier in the day reported that Zuckerberg was set to resign in 2023, citing an unnamed insider source. The report

Golden State Warriors have been hit by lawsuit over FTX’s alleged false advertising

The Golden State Warriors are being sued by a former customer of FTX, who accused the NBA franchise of fraudulently promoting the now-collapsed crypto exchange, Reuters reported. Elliott Lam, a Canadian resident of Hong Kong, filed a lawsuit against the team in a San Fransisco federal court on Monday.

Jeff Bezos announced 40 grants totalling $123 million to combat homelessness

Per CNN: Jeff Bezos is continuing to make good on his pledge to give away the majority his wealth, to the tune of $123 million today. The Amazon founder announced on instagram tuesday that he has recently awarded 40 grants as part of his bezos day 1 families fund initiative,

Student loan repayment pause extended through June 2023 by White House

The White House is extending the pause on federal student loan payments through the end of June 2023 in an effort to "alleviate uncertainty" for borrowers as the Biden administration battles at the Supreme Court to put President Biden’s student loan handout into affect. Biden announced in

API Stock Plunged: Here’s What Happened

The Situation Agora Inc (NASDAQ: API) shares -- a company that provides video, voice, and a live interactive streaming platform through its communication software solutions -- plunged on Tuesday after Q3 announcements. As of 12:00 PM, ET Agora shares dropped by 20.30%. The Explanation Agora Inc officially went public on

Elon Musk Lost $100 Billion in 2022 as Tesla Shares Drop to Lowest Level in Two Years

Per Bloomberg Elon Musk has lost $101 billion in net worth declining 37.2% YTD for 2022 as Tesla shares drop to its lowest level in two years.  This was more than META's Mark Zuckerberg, who lost 66.6% of his wealth or 83.5 billion during the

Cathie Wood's ARKK Bought 176,945 Shares of GTBC After Price Dropped 31% Since SFB's 'FTX is Fine'

Per Coin Telegraph Cathie Wood's ARK increases its GBTC holdings by purchasing 176,945 shares on Nov 21. This adds to its 273,327 shares bought on Nov 15 before FTX fell apart. This brings its total holdings to 450,272 shares. This comes after Grayscale refused to

Elon Musk Announces No More Layoffs After Twitter Staff Dropped from Nearly 7,500 to 2,700 People

Per The Verge Since Elon Musk's $44 billion acquisition of Twitter, the number of workers has dropped from 7,500 to 2,700 people. The new Twitter CEO held an all-hands meeting with employees, saying the company is done with layoffs and is recruiting for roles in

Elon Musk Asks Employees for Weekly Updates, Saying 'Perhaps Not Unreasonable to Know if Anything was Accomplished'

Per Business Insider In an internal email, Elon Musk asked employees to give updates. The new Twitter CEO said, "it is critical to understand what everyone is working on and who is coding what," noting that it would help them "innovate rapidly." Twitter Engineering signed the

Bankman-Fried's FTX, parents bought Bahamas property worth $121 million

Per Reuters: Sam Bankman-Fried’s FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 properties worth nearly $121 million in the Bahamas over the past two years, official property records show per Reuters. Most of FTX’s purchases were luxury beachfront homes, including

Oregon Governor Kate Brown pardons 45,000 people for marijuana convictions

Per OregonLive: Oregon Gov. Kate Brown announced Monday that she is issuing a pardon for Oregonians who have been convicted of simple possession of marijuana. The pardon is for people convicted of possessing one ounce or less of marijuana, in pre-2016 cases, in which the person was 21 years

Starbucks is shutting down the first store to unionize in Seattle

Recently, more than 2,000 workers at 112 Starbucks locations across the United States joined the first nationwide strike that lasted one day, in a year-long attempt at unionization. The coffee company owns roughly 9,000 locations in the United States with over 70,000 employees. The Starbucks employees

Budweiser will throw a celebration for winning FIFA World Cup country

Per Newsweek: Budweiser will throw a celebration for whichever country wins the FIFA World Cup with the company's massive stockpile of beer Qatar restricted it from selling inside stadiums at the soccer championship. Qatar, which is hosting the soccer tournament, last week reversed its policy surrounding the sale

Elon Musk has fired more Twitter sales staff

Per Bloomberg: Elon Musk laid off more Twitter Inc. workers from the sales side of the social network’s business beginning late on Sunday, further trimming a staff that had already been decimated by cuts and resignations. Last week, Musk had asked workers to commit to his more “hardcore” version

U.S. Senators are urging Fidelity to reconsider its exposure to Bitcoin, especially with regard to retirement plans

US Senators Richard (Dick) Durbin, Elizabeth Warren, and Tina Smith sent a letter to Fidelity on Monday, November 21st, urging Fidelity to reconsider its exposure to cryptocurrencies. Their primary concern is with Fidelity’s inclusion of Bitcoin into some of its 401(k) pension plans. In light of the recent

Genesis warns of bankruptcy without new funding

Per Bloomberg: Genesis, a digital asset brokerage, has been unable to raise cash over the last week and may file for bankruptcy. Genesis has faced a liquidity issue post FTX, and is looking for 1 billion in capital. Binance had been tapped, but did not comment and did not provide

CVNA Stock Plunged: Here’s What Happened

The Situation Carvana Co (NASDAQ: CVNA) shares -- an online used car retailer in the United States known for multi-story car vending machines -- plunged on Monday after dropping in Q3 revenue and other conditions. As of 12:00 PM, ET Carvana shares dropped by 11.17%. The Explanation Carvana Co

Amazon Founder Warned Consumers About Spending Before Black Friday Sale

Per Business Standard and CNN Amazon founder Jeff Bezos warns consumers to "slow down" on purchases and "keep that cash, see what happens." The founder advised against purchasing a big-screen TV saying, "you might want to wait, hold onto your money." The new

Twitter 'Core Service' Team Drops from 100 People to Four

Per NYT Twitter's "core service" team is cut from 100 people to four. The team was responsible for handling computing architecture. Other teams that were responsible for how media appears in tweets or how profile follower counts show were cut down to zero. Peter Clowes, a

Swiss National Bank Lost $148.4 Billion Since the Start of the Year | Largest Loss in 115-Years

Per Reuters The Swiss National Bank lost $148.4 billion (142.2 billion Swiss francs) since the start of 2022. The central bank's foreign investments dropped in value amid rising interest rates and a stronger Swiss franc. This is the largest loss the bank sustained in 115 years.

Crypto Firm Grayscale Cites 'Security Concerns' as Reason Why It Won't Share Proof of Reserves

Per The Block Crypto investment firm Grayscale cites "security concerns" as to why they won't show proof of reserves. The firm acknowledged its decision would be a disappointment to some investors. Grayscale said panic isn't a good enough reason for them to "circumvent

Average Individual Retirement Account Dropped 25% YOY to $101,900 in Q3 of 2022

Per CNBC The average individual retirement account dropped 25% from $136K in Q3 2021 to $102K in Q3 2022. It has also dropped around 8.1% from Q2 of this year. The average 401(k) balances dropped by 23% from $126K to$97,200 a year ago. It also dropped

The IRS says the new 87,000 agents could help rase as much as $1 trillion

Per Bloomberg: At issue was the $80 billion earmarked to the IRS over the next decade in President Joe Biden's Inflation Reduction Act. Advocates argued reinvigorating the agency after a decade of debilitating budget cuts would raise as much as $1 trillion by forcing tax evaders to pay

Sports Betting Meets Stock Trading with Sporttrade App

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Elon Musk considering further Twitter layoffs in sales

Per Bloomberg: Elon Musk is considering firing more Twitter Inc. employees as soon as Monday, this time targeting the sales and partnership side of the business after mass resignations among engineers on Thursday, according to people familiar with the matter. Musk had offered Twitter employees an ultimatum: either stay on