Crypto investment firm Multicoin Capital recently told investors that its hedge fund assets have soared 20,287% since inception in October 2017, and that its first venture capital fund has returned more than 28x (net of fees), per two sources who saw the presentation.
Why it matters: Thesereturns offer a tantalizing glimpse into why limited partners who were once wary of digital assets are now clamoring to get behind it.
Ghislaine Maxwell, a close associate of the late convicted sex offender Jeffrey Epstein, was found guilty Wednesday by a federal jury of helping Epstein sexually abuse several teenage girls.
Driving the news: The jury deliberated for six days, following a three-week trial in Manhattan.
New, independent digital outlets and nonprofits have begun to fill some of the gap left by fading local newspapers. Limited resources and the pandemic have driven many toward providing community news, information and services rather than traditional accountability journalism.
Why it matters: "It's not just about a legal or structural shift, but it also represents a shift in how the mission of journalism is changing," said Emily Roseman, research director & editor at the Institute for Nonprofit News (INN).
A New York state appeals court on Tuesday temporarily lifted a court order requiring the New York Times to give up or destroy copies of legal memos written by a lawyer for the conservative group Project Veritas.
Why it matters: The case gained attention among First Amendment and press freedom advocates after a trial judge sided with Project Veritas last week and ordered the publication to return physical copies of the memos and destroy its electronic copies.
Returning unwanted gifts this holiday season is becoming so expensive for retailers that they just might let customers keep the products — and issue refunds anyway.
Why it matters: The cost of online returns is soaring, contributing to increased prices, product shortages and supply chain stress.
The big picture: The pandemic drastically reduced the number of people getting cosmetic skin treatments. But the rollout of the COVID vaccines and a larger, younger crowd willing to try Botox injections have led to swelling demand in dermatology offices and medical spas.
Banks and regulators around the world have managed to replace the plumbing of the entire financial system, even as almost nobody has noticed.
Driving the news: As of Monday, Libor — the interest rate that once underpinned some $300 trillion in financial contracts from derivatives to corporate credit lines — will effectively be dead.
Champagne sales are about to pop as revelers get ready to toast the new year, according to new data from Drizly.
By the numbers: The alcohol delivery startup said that 17% of all wine delivered in December is champagne, citing monthly sales data in the U.S. between 2019 and 2021.
Riot Games has agreed to settle a 2018 gender discrimination lawsuit for $100 million, the "League of Legends" giant and California agencies announced Monday evening.
By the numbers: Under the agreement, $80 million would be set aside for hundreds of women who are current and former employees in the California class-action lawsuit, according to statements by both parties.
