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FTX’s first day in bankruptcy court: All you need to know

Attorneys and executives representing the collapsed cryptocurrency platform FTX appeared in court on Tuesday where they revealed a continued investigation into the company.

Weekly Market News 21 November

FTX Says Top 50 Creditors Are Owed $3.1 Billion. According to a recently filed court document, FTX owes its 50 largest creditors about $3.1 billion with claims ranging from tens of millions to hundreds of millions of dollars.

Bitcoin Falls Below $17K, First Time in 23 Months

Bitcoin (BTC) dropped to a new 23-month low on Wednesday as crypto traders processed the news that the Binance exchange might demur on an earlier plan to buy its once-mighty but suddenly ailing rival FTX.

Tech Giants Earnings: What you need to Know

US equity futures fell along with stocks in Europe after post-market slumps in megacap technology shares marred a three-day rally on Wall Street and raised new doubts over whether this year’s $5.5 trillion selloff is nearing a bottom.

Weekly Market Update: 2 May 2022

One of the most important events of the previous week was the US GDP q/q. The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates, yet economists foresee a return to growth for the rest of 2022 based on the strength of the job market and consumer spending.

Goldman Sachs Offers Its First Bitcoin-Backed Loan

Goldman has reportedly offered its first ever lending facility backed by BTC as the Wall Street giant deepens its Bitcoin offerings.The arrangement, made popular over the past few years in the Bitcoin industry by newer companies, enables a bitcoin holder to obtain fiat money like U.S. dollars by putting up their BTC as collateral to the bank. If the price of bitcoin drops, the user may be required to increase their collateral, risking getting liquidated in case they fail to do so.

Elon Musk strikes deal to buy Twitter for $44bn

Shares of Netflix closed down more than 35% Wednesday after the streamer reported earnings Tuesday evening that showed it lost subscribers for the first time in more than 10 years. The results and weak outlook led to a wave of downgrades from Wall Street on fears over the company’s longTesla CEO Elon Musk stands to be the next owner of Twitter, having pledged roughly $44bn to buy the social media platform.

Netflix’s stocks plunges by 35% wiping more than $50 billion off market cap

Shares of Netflix closed down more than 35% Wednesday after the streamer reported earnings Tuesday evening that showed it lost subscribers for the first time in more than 10 years. The results and weak outlook led to a wave of downgrades from Wall Street on fears over the company’s long-term growth potential.

Microsoft Buys Activision for $69 Billion with Eyes on Metaverse Development

An NFT is a unique digital token encrypted with an artist's signature that verifies its ownership and authenticity. RTFKT's colorful kicks were sold as NFTs, unique digital assets that gives buyers ownership of an item using blockchain technology.What's a metaverse ecosystem without a pair of fancy kicks? Shoemaker Nike agrees. One of the world's most well-known shoemakers, Nike just bought a virtual shoe company that specialises in shoe NFTs for the metaverse.

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