Sam Bankman-Fried
Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, was convicted of fraud on November 2, 2023. Bankman-Fried is accused of misleading investors and misappropriating client funds. The conviction is a major setback for the cryptocurrency industry and could lead to increased regulation. (cnbc)
The stock market is having a good week
The week is set to be the best week for the U.S. stock market for the year so far. S&P 500, Nasdaq, and Dow Jones are all up over 4%. The rally is partly because of positive earnings for some of the largest companies and investors hoping that the Federal Reserve may gently press the brake on interest rate hikes. (reuters)
Starbucks up, thanks to your cup
It’s pumpkin spice season and numbers don’t lie. Starbucks shares rose 10% on Thursday after the company reported strong earnings results. Thanks to U.S. customers who are buying more expensive drinks, which is helping to boost its profits. (cnbc)
Elon Musk’s Starlink hits a turning point
Elon Musk reported on Thursday that Starlink has achieved breakeven cash flow. The company provides satellite internet and communication services across the world, helping millions in remote locations to have access to the internet. (X)