Business

FTX Files Chapter 11 Bankruptcy, Sam Bankman-Fried Resigns as CEO

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.

Biden Says Elon Musk’s Foreign Ties Should Be Investigated

Joe Biden, while referring to Elon Musk’s radical changes to the social media platform, said that Musk’s foreign ties should be investigated thoroughly. He did not blame him directly for anything but only urged in the heat of the moment to scrutinize Elon Musk’s foreign ties with other countries.

FTX Bankruptcy Crashes Crypto Markets

The bankruptcy of the cryptocurrency exchange FTX crashed crypto markets with Bitcoin falling from its psychologically important $20,000 level to $16,000 within only two days.

Tech Companies Freeze Hiring and Lay Off Workers

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.

Remote Job Listings Running Out

LinkedIn data shows that remote job listings are declining. The falling offers to work from home or anywhere come at a time when job seekers show increased appetite for remote work.

Apple, YouTube, & Spotify Increase Subscription Price

In today’s world, prices for everything are going up and that includes subscription prices. Apple and YouTube have already announced they will increase their prices for Apple TV+, Apple Music, and YouTube Premium subscriptions. Now Spotify is likely to follow and increase its price as well.