Vitalik Buterin. John Phillips/Getty Images for TechCrunch Ethereum cofounder Vitalik Buterin cautioned critics of FTX’s Sam Bankman-Fried to be more discerning. “Automatically downgrading every single thing SBF believed in is an error,” he tweeted on Tuesday. He added: “Don’t be the guy who would have tried to cancel vegetarianism in 1945.” Ethereum cofounder Vitalik Buterin cautioned…
Twitter boss Elon Musk. REUTERS/Mike Blake Elon Musk told Twitter workers they can still get stock and options in pay packages, per CNBC. SpaceX also grants employees stock awards twice a year, despite being a private company. “Exceptional amounts of stock will be awarded for exceptional performance,” Musk said in a memo seen by CNBC….
Omicron has brought volatility to Wall Street. John Moore/Getty Images US stocks opened higher Tuesday as fresh signs of slowing inflation raised hopes for a less hawkish Fed. The producer price index rose 0.2% in October from the prior month, below the consensus estimate for a 0.4% gain. The meeting between President Joe Biden and…
Stanley Druckenmiller. Mark Lennihan/Associated Press Stanley Druckenmiller’s fund bet on GameStop’s stock to fall last quarter, SEC filings show. Duquesne Family Office bought put options against 556,000 shares of the video-game retailer. Druckenmiller has described GameStop stock as “radioactive” and warned meme stocks are overvalued. Stanley Druckenmiller disclosed a bearish bet against GameStop on Monday,…
Subway; Jörg Carstensen/Picture Alliance via Getty Images Subway says it plans to roll out more smart fridges, which can understand speech and sell premade sandwiches. It installed its first one on a college campus in September with “extremely positive” feedback. Subway says that, like its Grab and Go counters, the fridges are designed for places…
Pedesterians climb stairs in front of EU flags in Brussels, Belgium. Thierry Monasse/Getty Images The European Union may prevent ban banks and crypto providers from dealing in privacy-enhancing coins such as monero and zcash, CoinDesk reported Tuesday. Privacy coins are cryptocurrencies that keep information hidden on the blockchain. The leaked EU draft is under proposed…
The 2022 GMC Hummer EV Edition 1. Tim Levin/Insider I drove the new electric Hummer and experienced all its coolest features firsthand. The GMC Hummer EV offers rear-wheel steering, 18 camera views, and a removable roof. The Hummer EV Edition 1 — the fully loaded first model that GMC lent me — costs $113,000. The…
President Joe Biden speaks about student loan debt relief at Delaware State University on October 21, 2022. Evan Vucci/AP The White House is considering extending the student-loan payment pause again, per The Washington Post. This comes as Biden’s debt relief is on pause after federal courts blocked its implementation. The legal process could take months,…
Boxes of Hostess Twinkies in a grocery-store shopping cart. Scott Olson/Getty Images Consumers are buying more chocolate and cookies as recession fears hang over the economy. Hershey, Mondelez, and other sweet-treat makers have raised their outlooks due to the trend. It’s a variant of the “lipstick index,” the idea that people buy little luxuries during…
Mohamed El-Erian REUTERS/Shannon Stapleton Despite a small reprieve from public criticism, central bankers can’t back down on monetary tightening now, Mohamed El-Erian said. While continued rate hikes could lead to more pushback, the Fed risks letting inflation expectations get entrenched in the economy. That could cause a “stagflation morass that would be much worse in…