Key Witness at Sam Bankman-Fried Trial to Launch New Crypto Exchange

A group of former FTX executives, including one who served as a key witness against Sam Bankman-Fried, are teaming up to build a new cryptocurrency exchange that aims to solve the problems that doomed their previous employer. Trek Labs, a Dubai-based startup led by the former FTX general counsel Can Sun, received a license from … Read more

EQT Plans to Take Japan’s Benesse Private in Over $1 Billion Deal

Swedish investment company EQT plans to take Japanese education services provider Benesse Holdings private in a deal valued at more than $1 billion, by teaming up with the company’s founding family. EQT said Friday that one of its funds would spend 207.95 billion ($1.37 billion) to buy Benesse shares through an tender offer as part … Read more

Former NYSE President in Talks to Reboot FTX Exchange

A company run by former New York Stock Exchange President Tom Farley is among three suitors vying to buy the remnants of FTX, as the auction for the collapsed cryptocurrency exchange founded by Sam Bankman-Fried reaches its final stages. Bullish, the crypto exchange run by Farley, fintech startup Figure Technologies and crypto venture-capital firm Proof … Read more

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ET Goldman Sachs plans to begin a process to unload its General Motors credit card program in another step away from its failed foray into consumer lending. The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a … Read more

Sam Bankman-Fried Verdict Reflects Crypto’s Broken Dreams

Sam Bankman-Fried is gone. And crypto is back to its favorite activity: a wild speculative rally. The FTX founder’s trial featured a parade of witnesses detailing a multibillion-dollar fraud at the heart of the crypto market. None of it dented the enthusiasm of crypto investors. During the trial, crypto prices surged on optimism that U.S. … Read more

FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Listen to article (2 minutes) FTX founder Sam Bankman-Fried was convicted Thursday of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in U.S. history.  A New York federal jury convicted him of all seven counts he faced. The verdict capped the stunning … Read more

Macquarie’s First-Half Profit Falls, to Launch Up to A$2 Billion Buyback

Updated Nov. 2, 2023 7:52 pm ET SYDNEY—Macquarie Group’s first-half net profit fell by 39%, but the company said its strong capital position means it could soon begin buying back shares worth up to 2.0 billion Australian dollars (US$1.29 billion). Macquarie, Australia’s biggest investment bank and asset manager, said its net profit for the six … Read more

Jurors in Sam Bankman-Fried Trial Expected to Begin Deliberations

Jurors are expected to begin deliberating Thursday on whether FTX founder Sam Bankman-Fried is guilty of fraud and other crimes that contributed to the collapse of the crypto exchange. The deliberations cap a nearly monthlong trial in which jurors heard testimony from more than 20 witnesses, including Bankman-Fried. On Thursday morning, a prosecutor is expected … Read more

‘Buy the Dip’ Investing Mantra Lives On—in the Bond Market at Least

Updated Oct. 29, 2023 12:01 am ET Listen to article (2 minutes) One of the hottest investments on Wall Street is something of a surprise—it’s a battered long-dated Treasury bond fund. Shares of the iShares 20+ Year Treasury Bond ETF are near a 16-year low and have lost more than half their value from their … Read more