Sam Bankman-Fried apologized to an FTX customer who said he lost his life savings of $2 million, and accused the former CEO of stealing it

Sam Bankman-Fried at the New York Times DealBook Summit, interviewed by Aaron Ross Sorkin. Michael M. Santiago/Getty Images An FTX user wrote to the host interviewing Sam Bankman-Fried at a New York Times summit. He said he lost $2 million and accused SBF of stealing it. “I am deeply sorry about what happened,” Bankman-Fried said….

Having a stay-at-home husband made the benefits of invisible, unpaid labor crystal clear

Kelly Burch. Courtesy Kelly Burch As the parent with the more flexible career, I always expected to do more child and home care. When my husband unexpectedly became a stay-at-home dad, our family thrived. Once I became used to having a stay-at-home spouse, I realized how deeply the patriarchy penetrated. This article is part of…

Treasury Secretary Janet Yellen says FTX crash marked the Lehman moment for crypto as substantial harm hit investors

US Treasury Secretary Janet Yellen. REUTERS/Jonathan Ernst/File Photo Treasury Secretary Janet Yellen likened the collapse of FTX to that of Lehman Brothers in 2008. Substantial harm fell upon investors, especially those who weren’t well informed about the risks, she said at the DealBook Summit.  The fallout from FTX’s implosion has renewed conversations about regulation in…

Messaging app Telegram is moving into crypto with the launch of decentralized exchanges to ‘fix the wrongs’ of centralized firms like FTX

Telegram founder and CEO Pavel Durov. Manuel Blondeau/AOP.Press/Corbis/Getty Images The collapse of FTX shows that blockchain projects must return to decentralization, the CEO of Telegram said.  Pavel Durov announced that the messaging app is planning to build crypto exchanges and other decentralized tools.  “The blockchain industry was built on the promise of decentralization, but ended…

Biden’s student-loan forgiveness remains blocked after another federal court rejects the administration’s attempt to revive its debt relief

President Joe Biden. Photo by MANDEL NGAN/AFP via Getty Images The 5th Circuit ruled on Wednesday that it would not reinstate Biden’s student-debt relief. It was in response to Biden’s appeal to the court after a Texas judge blocked the relief. Separately, the Supreme Court is expected to rule on an 8th Circuit decision also…

US stocks rise as cooling of key inflation measure supports potential for smaller Fed rate hikes

Michael M. Santiago/Getty Images US stocks rose Thursday as December trade gets underway.  The Fed’s preferred inflation gauge — the PCE index — rose by less than expected in October.  Markets are looking for a smaller rate hike of 50 basis points in December  US stocks opened slightly higher Thursday, starting December’s trade with an…

The US embassy in Spain received a letter bomb after Spanish prime minister and others were targeted, report says

The US Embassy in Madrid, Spain in May 2021. AP Photo/Paul White The US embassy in Spain received a letter bomb on Thursday, Spain’s La Sexta reported. The bomb was detected and detonated, the report said. The bomb appears similar to those sent to five other targets in Spain, according to reports. The US embassy…

Bill Ackman and Kevin O’Leary defend Sam Bankman-Fried, saying they believe he didn’t know about Alameda’s bad bets

“Shark Tank” investor Kevin O’Leary. “Shark Tank”/ABC Bill Ackman and Kevin O’Leary believe Sam Bankman-Fried’s claims he hasn’t tried to commit fraud. The founder of FTX faces questions about potential misuse of client funds by sister firm Alameda. “Call me crazy, but I think @sbf is telling the truth,” Ackman said in a Wednesday tweet.  …

This Indian family has been turning pumpkins into instruments for almost 2 centuries

The Sitarmakers of Miraj, India, have been crafting musical instruments out of pumpkins for almost 200 years. They are known for making the tanpura, a string instrument used by classical singers. But lately, cheaper electronic instruments have been threatening their business. The Sitarmakers of Miraj, India, have been crafting musical instruments out of pumpkins for…