Charlie Javice, the 33-year-old founder of fintech startup Frank, has been sentenced to just over seven years in federal prison after being convicted of defrauding JPMorgan Chase in its $175 million acquisition of her company. In March, a jury found Javice and her former chief growth officer, Olivier Amar, guilty on three counts of fraud […]
Two men have been indicted for orchestrating a massive international cryptocurrency fraud scheme that deceived investors out of more than $650 million. According to an indictment unsealed in the District of Puerto Rico, Michael Shannon Sims, 48, from Georgia and Florida, and Juan Carlos Reynoso, 57, from New Jersey and Florida, are accused of founding […]
Masayoshi Son is placing what may be the most ambitious wager of his career — transforming SoftBank into a global leader at the heart of the artificial intelligence revolution. Son predicts that artificial superintelligence (ASI) — technology 10,000 times more intelligent than humans — could arrive within the next decade. Known for high-stakes moves, such […]
1. Tesla Hits a Speed Bump All eyes were on Tesla yesterday as it kicked off the new earnings season among the “Magnificent Seven” tech giants. Despite a slight recovery in revenue after two declining quarters, earnings per share fell short of market expectations due to rising capital expenditures. During the company’s earnings call, Elon […]
Norway’s $2 trillion sovereign wealth fund, the world’s largest, has announced that it will vote against Elon Musk’s record-breaking $1 trillion compensation package at Tesla’s upcoming shareholder meeting, challenging the company’s leadership and Musk’s influence. The fund, officially managed by Norges Bank Investment Management (NBIM) and a major Tesla shareholder, revealed on Tuesday that it […]
Amazon is set to phase out its standalone Freevee streaming service in August as part of a broader effort to streamline its entertainment offerings under the Prime Video umbrella. Freevee, which originally launched in 2019 as an ad-supported platform under IMDb—acquired by Amazon in 1998—offered free TV shows, original content, and select titles from Prime […]
Tesla is pushing back against a $242.5 million jury verdict in a wrongful death and product liability case, asking a Florida court to either overturn the decision or grant a new trial. The case stems from a 2019 fatal accident in Key Largo, Florida, where George McGee crashed his Tesla Model S while using the […]
Gold surged nearly 2% on Monday, climbing close to all-time highs as investors sought safety amid growing concerns over a potential U.S. government shutdown and rising geopolitical risks. At the time of writing, XAU/USD trades at $3,827, just shy of the session peak of $3,833. Treasury Yields Slide, Boosting Gold The precious metal pushed past […]
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has secured a major boost from Nasdaq just days before its highly anticipated initial public offering. The global stock exchange operator is investing $50 million in Gemini as part of a strategic partnership that will enable Nasdaq to integrate the exchange’s custodial services for its […]
Coinbase CEO Brian Armstrong joined fellow crypto leaders on Capitol Hill this week in a heated policy battle with the banking industry — a fight that could impact trillions of dollars in deposits. Banking advocacy groups are lobbying lawmakers to ban crypto exchanges from offering stablecoin rewards, arguing that such perks mimic traditional bank interest […]