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Tesla Shares Suffer Worst Year Ever as short sellers sit on $15 billion in profits

A year ago, Tesla Inc. seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom. The stock was never for the faint of heart, given its volatility and the mercurial style of its chief executive, Elon Musk. Still, the magnitude […]

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Weekly Market News 5 Dec, 2022

Crypto News Alameda Research Invested $1.15B In Crypto Miner Genesis Digital FTX’s sister company Alameda Research reportedly invested quite heavily in Bitcoin mining company Genesis Digital Assets during the crypto bull run. Documents reveal this figure is close to about $1.15 billion. This makes it Alameda and FTX’s biggest venture bet. Avalanche To Power Alibaba […]

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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’s assets formerly controlled by its founder and former CEO Sam Bankman-Fried. They also pleaded to keep the names of the company’s customers shielded from public view. The two-hour hearing was a traditional […]

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Weekly Market News 21 November

Weekly Market News 21 November Crypto News 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. The document also reveals that FTX has around 1 million […]

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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. The price of bitcoin hit $16,936 on crypto exchange Bitstamp on Wednesday, after Binance is leaning toward scrapping the deal […]

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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. Contracts on the Nasdaq 100 tumbled 1.8% after disappointing quarterly updates from Microsoft Corp., Google parent Alphabet […]