The battled cryptocurrency exchange FTX declared Chapter 11 bankruptcy. CEO Sam Bankman-Fried resigned from his leadership position at the helm of the company, passing on the CEO role to John J. Ray III, a lawyer experienced with leading companies such as Enron Corp. through bankruptcies.
Binance, one of the top cryptocurrency exchanges, announced it would not go ahead with the purchase of FTX, another top cryptocurrency exchange and major Binance rival.
Li Qiang is taking over as China’s premier, the second highest ranking position in China’s political system. In his new role he will monitor all branches of the Chinese government.
The Biden administration has secretly encouraged Ukraine to signal it is open to negotiations with Russia, reports the Washington Post. Previously Ukraine has held a position whereby it would not negotiate with Russia as long as Putin remained in power.
A Chinese rocket hit earth on Friday, provoking condemnation by NASA. The incident was criticized by the US space agency because it risked causing damage. China did not share any projections of where it expected the debris to fall down
Amazon is freezing its hiring while Lyft is laying off 700 workers, accounting for 13% of its employees. The news add to concerns that the tech labor market is cooling as the Federal Reserve continues slowing down the global economy.
Just a day after Russia withdrew from an agreement that permitted Ukraine to transit the Black Sea to ship grain, the United Nations and Turkey attempted to save the agreement.
Leftist governments all over Latin America are congratulating Brasil’s new president-elect, Lula. With the new election results Brasil joins a long list of leftish governments in the region, which among others include Argentina, Colombia, Venezuela, Chile and Mexico.
Putin sought to promote “unity of humankind”, globalism and economic integration.
He characterized the West’s approach to the rest of the world as “be like us, do like us”. In his eyes the West in its arrogance considers non-Western states below itself.
Democrats withdrew a letter to Biden, which sought to convince the president to negotiate directly with Russia in order to de-escalate the conflict.
Russian Minister of Defense Sergei Shoigu warned that the risk of escalation in the Ukraine War was on the rise and Kiev might plan to launch a so-called “dirty bomb”
Option prices betting on a further 10% decline in stock market valuations are at their lows since 2017. This suggests that investors are betting that further downside movements are increasingly unlikely.
