Unusual Whales

BlockFi to plan for imminent bankruptcy

Per Bloomberg: Cryptocurrency lender BlockFi Inc. is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private. The crypto lender paused client withdrawals, citing uncertainties with FTX, while saying it had adequate liquidity and was

SBF DMs with Vox exposed

Vox Media spoke with SBF of FTX. FTX collapsed last week, is in bankruptcy, and is being reportedly investigated by SEC, DOJ, and more. There are numerous DMs that have been leaked, all of them listed below. Please see original article: https://www.vox.com/future-perfect/23462333/sam-bankman-

Elon Musk to find new leader for Twitter

Per Reuters: Elon Musk said on Wednesday he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week. Musk made the remarks while testifying in a Delaware court to defend

US household debt climbed at the fastest annual pace since 2008 in the third quarter

US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card balances surging, according to data released by the New York Fed on Tuesday. Also bolstering consumers is a tight labor market, marked by robust job creation, low unemployment and rising wages. Fed

Binance’s role in the sudden collapse of FTX has come under congressional scrutiny

Per The Block: Binance’s role in the sudden collapse of FTX, an event that sent reverberations around crypto markets, has come under congressional scrutiny, a senior House Republican confirmed to The Block. “This is serious. I think that this is a major event,” Rep. Patrick McHenry, R-N.C.

Tom Brady and others have been sued for promoting FTX

On Wednesday an FTX investor sued Bankman-Fried as well as several celebrities who have endorsed the platform, including Tom Brady, Gisele Bundchen and Steph Curry. “The deceptive FTX platform maintained by the FTX entities was truly a house of cards,” the proposed class-action lawsuit states. Lawyers Adam Moskowitz

Elon Musk has said remaining staff must work “long hours at high intensity” and b “extremely hardcore” or else leave

Elon Musk has given Twitter’s remaining staff a Thursday deadline to commit to working “long hours at high intensity” and being “extremely hardcore” or else leave with three months’ severance pay. In an email to the social media platform’s employees, seen by the Guardian, its new owner said

About 75% of retail traders have lost money on Bitcoin

A study of how retail investors use cryptocurrency exchange apps suggests about three-quarters have lost money on Bitcoin, according to the Bank for International Settlements. Data spanning 95 countries from 2015 to 2022 indicates the vast majority of app downloads occurred when Bitcoin’s price was above $20,000,

Jim Cramer says there’s a ‘real possibility’ the Fed can engineer a soft landing

Per CNBC: CNBC’s Jim Cramer said that he believes the Federal Reserve could manage to tamp down inflation without throwing the economy into a recession. “If we can see the end of the purchasing spree … it’s a huge positive for stocks. It helps that we’ve finally worked

Organized retail crime, shoplifting, and theft has driven $400 million in extra profit loss this year at Target

The discount retailer told reporters on a call to discuss its third quarter earnings results that inventory shrinkage — or the disappearance of merchandise — has reduced its gross profit margin by $400 million so far in 2022 compared to 2021. "At Target, year-to-date, incremental shortage has already reduced

TGT Stock Pluged: Here’s What Happened

The Situation Target Corporation (NASDAQ: TGT) shares -- an American big box department store chain and the seventh largest retailer in the US -- plunged on Wednesday after Q3 losses affecting expectations for the final quarter. As of 11:30 AM ET, Target Corp shares dropped by 14.89%. The Explanation Target

US Housing Prices Could Fall Up to 20% Amid Surge in Mortgage Rates

Per The Dallas Morning News Dallas Feds say US housing prices could fall up to 20% amid a surge in mortgage rates.  House prices, adjusted for inflation, increased by the highest during the pandemic since the 1970s. Homebuyers must make $87,000 a year to buy a typical Dallas-Fort

FTX Parent Company Files Chapter 15 Bankruptcy in the US to Protect Itself Against Debtors

Per Reuters and CNBC After Sam Bankman-Fried left FTX Digital Markets, the parent company of FTX US located in the Bahamas, the company filed for Chapter 15 bankruptcy. Here's what happened: * FTX initially filed for Chapter 11 bankruptcy protection in the US. * SBF stepped down as CEO

Amazon Starts 10,000-Employee Layoff for Staff In Its Corporate and Tech Workforce

Per CNBC Amazon started its 10,000-employee layoff. Workers in the Alexa and Luna cloud gaming unit were let go. Amazon will be laying off jobs in retail, devices, and human resources. Amazon also started laying off contracted employees in advertising, internal operations, and Fire TV divisions. On top

Goldman Sachs Economist Says 'Tech Layoffs Are Not A Sign Of An Impending Recession'

Per Yahoo News Jan Hatzius, the chief economist of Goldman Sachs, said, "tech layoffs are not a sign of an impending recession." Hatzius said there were 34,000 announcements of cutoffs from large-cap tech companies in November. The top 5 companies that laid off employees are: * Meta

Crypto lending platform Salt has halted withdrawals and deposits, citing the impact of the collapse of crypto exchange FTX

Crypto lending platform SALT said it is halting withdrawals today, the latest firm to do so amid the FTX-sparked contagion sweeping across the cryptocurrency landscape. "The collapse of FTX has impacted our business," SALT CEO Shawn Owen said in a message sent to consumers. "Until we

Preliminary assessments suggested the missile was fired by Ukrainian forces at an incoming Russian one

Poland said a Russian-made missile fell in the country’s east, killing two people, though US President Joe Biden said it was “unlikely” it was fired from Russia. The blast, which Ukrainian President Volodymr Zelenskyy decried as “a very significant escalation,” prompted Biden to call an emergency meeting of

Donald Trump has officially announced his candidacy for President of the United States for 2024

Former President Donald Trump has filed official paperwork with the Federal Election Commission declaring himself a candidate for president in 2024. Additional documents filed with the FEC set up an account for campaign fundraising. It will be linked to the Save America Joint Fundraising Committee, which for months has been

Apple CEO says it’s made decision to source chips from Arizona

Per BBG: Apple Inc. is preparing to begin sourcing chips for its devices from a plant under construction in Arizona, marking a major step toward reducing the company’s reliance on Asian production. Chief Executive Officer Tim Cook made the disclosure during an internal meeting in Germany with local engineering

Republicans have won a majority in the U.S. House

Republicans will hold a majority in the U.S. House following the midterm elections, according to projections by Decision Desk HQ. The result comes a week after the polls closed, due in part to the election laws in states with the tightest races. The result that clinched the projection for

Poland will increase the combat readiness of some troops and is considering activating Article 4 of the NATO military alliance treaty

Poland will increase the combat readiness of some troops and is considering activating Article 4 of the NATO military alliance treaty, officials said, following the deaths of two people in an explosion near the Ukrainian border. Authorities did not say what caused the blast, but Polish media reported earlier in

FTX founder Sam Bankman-Fried is trying to raise cash to repay customers after the company's bankruptcy filing

Founder of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, is seeking commitments from investors to raise fresh cash, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The former chief executive and a few remaining employees at FTX have spent the past weekend calling around in

White House asks Congress for $37.7 billion in Ukraine aid

The White House has asked Congress to approve $37.7 billion in additional aid for Ukraine amid Russia’s invasion, a request that comes ahead of both a government funding deadline and the expected flipping of the House to Republican control. The Biden administration is requesting that Congress authorize $21.

Michael Lewis, the writer behind The Big Short, has been traveling with Sam Bankman-Fried for the last 6 months is writing his next book on the FTX founder

Author Michael Lewis has been following former FTX CEO Sam Bankman-Fried around for the past six months and will write a book about the crypto maven known as "SBF," a new report says. News that the author who wrote "The Big Short" and "Moneyball&

YouTube Prepares Shopping Feature for Shorts Amidst Digital Advertising Slowdown

Per FT Google is increasing its push into eCommerce by introducing shopping features for YouTube Shorts. YouTube also tests a commission scheme for influencers selling products through video links. YouTube plans to pay creators $0.45 of the revenue from displayed ads between videos on Shorts in 2023. YouTube'