Sam Bankman-Fried allegedly directed FTX employees to manipulate the price of the crypto token associated with his exchange, FTT, according to an updated civil complaint submitted by the U.S. Securities and Exchange Commission.
Why it matters: Uncertainty about the FTT token moved investors to begin withdrawing billions of dollars from FTX in early November, which precipitated the company's collapse and exposure of alleged fraud by Bankman-Fried and others.
Some 204,000 Pillowfort Weighted Blankets sold at Target are being recalled over safety concerns, the U.S. Consumer Product Safety Commission announced Thursday.
The big picture: Two girls, ages 4 and 6, died of asphyxia earlier this year in North Carolina after becoming entrapped in the cover of the weighted blanket, per the announcement.
Many of the nation's grocery stores will close early Saturday before Christmas Eve dinner is served Saturday.
The big picture: Time is running out to shop for ingredients for holiday cookies and meals. Most grocers will be closed on Christmas Day including Walmart, Kroger and Publix stores.
Michael Kaye is the global head of communications at OkCupid where he leads PR in the United States, Europe and the Middle East.
Why it matters: The dating app market is convoluted — with over 1,500 apps available worldwide — yet Kaye has found a way to insert OkCupid into the conversation, from tying cuffing season habits to climate change, to highlighting how societal issues impact dating.
In a 24/7 news cycle, the Friday evening news dump — a tactic historically embraced by strategic communicators in government, politics and tech as a means to bury less than stellar news — needs an upgrade.
Why it matters: There is no magic formula for releasing bad news, but identifying readership trends can provide perspective and inform timing.
Scott Minerd, global chief investment officer of Guggenheim Partners, died on Wednesday afternoon from a heart attack. He was 63.
What to know: Minerd was a top Wall Street banker before joining Guggenheim shortly after it was formed in 1998. He's been a fixture at industry conferences and on cable news networks like CNBC, while helping to lead a firm that now manages more than $285 billion in assets.
The U.S. economy expanded at a 3.2% annual rate in the third quarter, according to the final revision of Gross Domestic Product released by the Commerce Department on Thursday.
Why it matters: The latest revision shows the economy grew at a slightly faster pace last quarter than previously estimated, in large part due to stronger consumer spending.
Google's YouTube has agreed to a deal with the NFL that will make it the new home for the NFL's Sunday Ticket package beginning next season, the two announced Thursday morning.
Why it matters: The acquisition of Sunday Ticket represents the most significant push into live sports for the online video giant.
Albertsons shareholders won't be getting a $4 billion Christmas present, after the Washington state Supreme Court said it won't review legal challenges to the grocer's special dividend until Feb. 9, 2023.
Why it matters: Albertsons remains likely to prevail, but wanted the dividend paid in 2022 for tax purposes.
A number of major airlines are waiving the usual fees and fare differences for travelers looking to rebook their trips this holiday season ahead of dangerous winter weather.
The big picture: A significant winter storm is expected to barrel through the United States this week, bringing frigid temperatures and blizzard conditions to much of the country, most likely delaying travel for millions.
Coinbase co-founder and CEO Brian Armstrong this week wrote a blog post about the future of crypto regulation, as the industry writhes under the weight of rival FTX's collapse.
Axios spoke with Armstrong about FTX, what he wants Congress to do and his company's future. The following transcript has been edited for length.
Two major figures in the FTX scandal, company co-founder Gary Wang and former Alameda Research CEO Caroline Ellison, on Wednesday both pleaded guilty to several federal wire fraud and conspiracy charges. Each also was charged with fraud by the SEC and the CFTC.
Why it matters: The close confidants of disgraced crypto entrepreneur Sam Bankman-Fried are cooperating with federal prosecutors, according to U.S. Attorney Damian Williams.
FTX founder Sam Bankman-Friedwas in FBI custody on Wednesday night after agreeing to be extradited from the Bahamas to the U.S., American officials said.
Driving the news: Bankman-Fried was arrested by Bahamas officials last week after a U.S. criminal complaint was filed against him, accusing him of engaging in a scheme to defraud FTX customers.
