Unusual Whales

Amazon CEO Andy Jassy Says There Will be More Job Cuts This Year

Per Bloomberg Amazon CEO Andy Jassy said there will be more job cuts into 2023. This is a part of the company's cost-reduction plans, which include wiping out 10,000 jobs. Jassy said the people within the company were notified, and some employees were given 60 days to

The Securities Commission of The Bahamas now controls of all FTX digital assets

The Securities Commission of The Bahamas said on Thursday it has ordered all digital assets of FTX Digital Markets Ltd (FDM) transferred to a digital wallet controlled by the Commission for safekeeping, per Reuters. "Urgent interim regulatory action was necessary to protect the interests of clients and creditors of

The public version of Twitter is reportedly at risk of breaking during the night

Per Reuters: The company notified employees that it will close its offices and cut badge access until Monday, according to two sources. Security officers have begun kicking employees out of the office on Thursday evening, one source said. Twitter, which has lost many of its communication team members, did not

Twitter office buildings are temporarily closed and badge access is suspended

Hundreds of Twitter employees refused on Thursday to sign a pledge to work “long hours at high intensity”, threatening the site’s ability to keep operating and prompting hurried debates among managers over who should be asked to return, current and former employees said. The crisis came in response to

Biden administration will ask Supreme Court to allow student loan debt relief program to resume

Per CNBC: The Biden administration said in a new court filing Thursday that it will ask the Supreme Court to lift an injunction and allow a major student loan debt relief program to resume. The filing came three days after the federal appeals court for the 8th Circuit in St.

Facebook will no longer fact-check former President Donald Trump now that he’s officially running again for the White House

Per NYP: Facebook will no longer fact-check former President Donald Trump now that he’s officially running again for the White House, according to a company memo. A manager on Meta’s “news integrity partnership” team sent a directive Tuesday to help those “seeking guidance regarding fact-checking political speech” over

FTX’s new CEO John Ray has said: Never in my career have I seen such a complete failure

Per Reuters: The executive hired to steer FTX Group through bankruptcy offered his first findings of improper fund transfers and poor accounting at the collapsed crypto exchange on Thursday, describing it as a "complete failure" of controls. John Ray, who was named FTX's chief executive after

Sam Bankman-Fried has been accused in court documents of gaining 'unauthorized access' to FTX systems after filing for bankruptcy to transfer 'digital assets' to the Bahamas government.

Per Daily Mail: Court documents clakn exchange platform FTX claims former CEO Sam Bankman-Fried 'hacked' its systems after filing for bankruptcy to transfer 'digital assets' to Bahamian regulators. FTX lodged the motion in the US bankruptcy court in delaware on thursday saying it had evidence to

The FDA has approved a lab-grown meat product for human consumption

The US Food and Drug Administration has given a safety clearance to lab-grown meat for the first time. Upside Foods, a California-based company that makes meat from cultured chicken cells, will be able to begin selling its products once its facilities have been inspected by the US Department of Agriculture.

A disabled employee sues Twitter over Elon Musk's ban on remote work.

Twitter Inc owner Elon Musk's mandate that employees stop working remotely and put in "long hours at high intensity" discriminates against workers with disabilities, a new lawsuit claims. Dmitry Borodaenko, a California-based engineering manager who said Twitter fired him this week when he refused to report

How have tech layoffs affected stocks? A quick look at the data.

Tl;dr: * Tech layoffs have an impact on stock price. * Flow might dictate some directional movement after announcement 2022 Tech Layoffs have been a hard hit to the job market the last few months, with upwards of 120,000 people being relieved from their duties in the process. Layoffs can

Average 401(k) balances plunged 23% year-over-year

Per CNBC: The average 401k balance sank for the third consecutive quarter and is now down 23% from a year ago to $97,200, according to a new report by Fidelity Investments, the nation's largest provider of 401(k) plans. The financial services firm handles more than 35

FTX used corporate funds to purchase employee homes

Per CNBC: Corporate funds were used to purchase homes in the Bahamas and "personal items" in the name of employees and advisors of FTX, a bankruptcy declaration said, days after the penthouse apartment of founder Sam Bankman-Fried was listed for nearly $40 million. It is not immediately clear

House Republicans are opening up an investigation to determine the extent of President Joe Biden’s involvement in his son Hunter’s business dealings

At a press conference held on Thursday morning, Representatives James Comer (R., Ky.) and Jim Jordan (R., Ohio) announced that House Republicans would be opening up an investigation to determine the extent of President Joe Biden’s involvement in his son Hunter’s business dealings. According to Comer and Jordan,

FTX Lawsuit Spreads to Celebrities that Promoted the Platform

Per Variety Here's the list of celebrities being sued for promoting FTX: * Tom Brady - NFL * Stephen Curry - NBA * Shaquille O'Neal -  NBA * Udonis Haslem - NBA * Trevor Lawrence - NFL * Shohei Ohtani - MLB * David Ortiz - MBL * Naomi Osaka - No. 1 tennis

SpaceX fired employees critical of Elon

Some SpaceX employees circulated the letter on June 15, urging the company to denounce the billionaire's "harmful Twitter behavior," per The Times. The letter followed an Insider report in May about SpaceX settling a sexual harassment claim against Musk, which he made jokes about on Twitter.

GLBE Stock Plunged: Here’s What Happened

The Situation Global-E Online Ltd (NASDAQ: GLBE) shares -- an Israel-based company operating as a software publisher and developer of Global-e, which enables direct-to-consumer cross-border e-commerce -- plunged on Thursday after the company cut revenue and gross merchandise value (GMV). As of 12:00 PM. ET, Global-E shares dropped by

Airbnb Reports 'Disproportionate' 31% Increase in Single-Room Listings During Q3

Per Reuters Airbnb reports a "disproportionate" 31% increase in single-room listings during the third quarter. This comes as 46% of hosts are looking for extra income for 46% of hosts say they used their earnings for food and other items. 10% said they used their earnings to avoid

Elon Musk has a Possible Successor in Mind for His Position at Tesla as CEO

Per Electrek Elon Musk has a possible successor in mind for the position of Tesla CEO. Musk has been the CEO since 2008-2009 after co-founder Martin Eberhard was ousted. A Tesla investor sued Tesla for Musk's $54 billion compensation plan for his work as CEO, claiming that Musk

Twitter Ex-CEO Jack Dorsey Says He Won't Retake His Role | Elon Musk Still On the Search

Per Reuters and CNN Twitter ex-CEO Jack Dorsey was asked if he would accept the position of company CEO if asked. He said, "nope." Elon Musk recently said he expects to reduce his time at Twitter and "find somebody else to run Twitter, over time." The

NYC Proposes $23.82 Minimum Pay Rate Target by 2025 for App-Based Food Workers

Per Bloomberg and The City The Department of Consumer and Worker Protection proposed via public notice that app-based food delivery workers should be paid at least $23.82/hour plus tips by 2025. A 2021 local law mandates the highly anticipated pay scale. The law requires a minimum wage for

Kevin O'Leary said he'd invest in SBF again

Per Gizmodo: Kevin O’Leary, an investor best known from the show Shark Tank, was asked on Tuesday if he’d still invest in Sam Bankman-Fried again, even after the FTX founder admitted to funneling billions of dollars in customer funds to his own hedge fund and caused the crypto

US credit-card debt increased by the most in 20 years

In an economy that has produced the highest inflation rate since the early 1980s, Americans are struggling to keep up with day-to-day expenses. More consumers are now relying on credit cards to get by, which has helped propel total credit card debt to $930 billion in the third quarter, just

Anthony Scaramucci says his due diligence on founder Sam Bankman-Fried was “not enough”

Per Bloomberg: Anthony Scaramucci, whose SkyBridge Capital has gotten caught up in the implosion of FTX.com, said he did a thorough background check on its founder Sam Bankman-Fried, but it wasn’t enough to protect himself from “misrepresentations.” “I was doing a lot of due diligence on him, but

Republicans take control of the House

Republicans will take majority control of the House, NBC News projects, ousting Democrats from key positions of power and complicating President Joe Biden’s legislative hopes for the remainder of his term, per CNBC. With the Senate staying in Democrats’ hands, congressional leadership will be divided for at least the