Texas ‘Anti-Woke’ Bank Goes Bust In 3 Months

A bank startup backed by billionaire Donald Trump supporter Peter Thiel and pitched as “anti woke” for “pro-freedom” Americans is closing up shop after less than three months. The bank, GloriFi, burned through $50 million in investment money, laid off most of its staff on Monday, and informed workers it was shutting down, The Wall … Read more

They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire

The emerging picture suggests FTX wasn’t simply felled by a rival, or undone by a bad trade or the relentless fall this year in the value of cryptocurrencies. Instead, it had long been a chaotic mess. From its earliest days, the firm was an unruly agglomeration of corporate entities, customer assets and Mr. Bankman-Fried himself, … Read more

Schwab’s Liz Ann Sonders Sees Trouble Still Ahead. Where to Invest Now.

Though the U.S. stock market looks healthier than it did during its rough patch over the summer, Charles Schwab Chief Investment Strategist Liz Ann Sonders sees potential trouble still ahead, especially as investors have yet to come to terms with the Federal Reserve not flipping from raising rates to cutting them soon, barring a crisis. … Read more

Black Friday surprise: Jeff Bezos tells people not to buy cars, refrigerators and other big-ticket items. Critics call him out.

Billionaire Jeff Bezos, who founded the e-tail behemoth Amazon, has some spending tips as Americans gear up for the holiday shopping season — amid four-decade-high inflation and recession worries. Here’s what he said: “‘If you’re an individual and you’re thinking about buying a large-screen TV, maybe slow that down, keep that cash, see what happens. … Read more

Oil Prices Could Rise After Latest EU Sanctions on Russia

The European Union’s ban on seaborne imports of Russian oil, along with the Group of Seven’s plan to cap prices of oil from Russia early next month won’t guarantee that prices for the commodity will see a lasting rally, or that supplies will tighten further in the days ahead. “In isolation, the sanctions on Russia … Read more

Sam Bankman-Fried, Tom Brady and Steph Curry named in lawsuit over FTX collapse

Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, has not had a good couple of weeks. The crypto maven known as SBF has seen his company go bankrupt and his net worth drop by billions of dollars, and now he’s been named in a class-action lawsuit over the collapse of FTX. The lawsuit names … Read more

Nu Holdings sees ‘sustained increase’ in customers; shares jump

Shares of Nu Holdings Ltd. NU, -2.03% jumped 14.7% after hours on Monday after the Brazil-based digital banking platform reported a surprise third-quarter profit and revenue that beat expectations, helped by a boost in active customers. The company reported net income of $7.8 million, compared with a net loss of $34.4 million in the same … Read more

‘I’m spending a fortune on home maintenance. I realize my second husband is essentially living in my house for free’: What is a fair way to split costs?

I am a retired 62-year-old woman. I was widowed in 2006 at the age of 46 and raised my two children (now 24 and 27) on my own. I used my husband’s life insurance money (about $500,000) to maintain our home, provide child care, and get both children through college without student loans.  I did … Read more

Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds

Alameda Research’s chief executive and senior FTX officials knew that FTX had lent its customers’ money to Alameda to help it meet its liabilities, according to people familiar with the matter. Newsletter Sign-up WSJ Crypto Smart and accessible crypto market analysis for investors. Alameda’s troubles helped lead to the bankruptcy of FTX, the crypto exchange … Read more

FTX bankruptcy is ‘somebody running a company that’s just dumb-as-f—ing greedy,’ says Mark Cuban

Billionaire tech entrepreneur and Dallas Mavericks owner Mark Cuban has offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking greedy.’” — Mark Cuban Cuban, speaking on Friday at a conference in Washington, D.C., hosted by Sports Business Journal, shared the view that avarice … Read more