Author: Press Room

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Crypto broker Genesis owes creditors more than $3bn, prompting its owner Digital Currency Group to explore selling assets in its large venture portfolio to raise money, according to people familiar with the matter.DCG, a conglomerate that controls crypto media outlet CoinDesk and investment manager Grayscale, is seeking to raise fresh cash after its Genesis unit was wrongfooted in November by the collapse of FTX. As part of its efforts, DCG is considering offloading parts of its venture capital holdings, which include 200 crypto-related projects such as exchanges, banks and custodians in at least 35 countries, and is worth about $500mn,…

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Father-son tension. Prince Harry shared intimate details of his experience with the royal family in his memoir Spare — and his father, King Charles III, isn’t pleased. “Charles is distraught. He’s angry and outraged that Harry’s aired so many embarrassing and damaging assertions, and it’s put him in a terrible position with [Queen Consort] Camilla of course now that she’s been dragged into the equation,” a source exclusively reveals in the new issue of Us Weekly. “That’s really crossed the line in more ways than one, but there are so many egregious comments and revelations from Harry that his father…

Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023.Timothy A. Clary | AFP | Getty ImagesIn a Thursday morning Substack post, FTX co-founder Sam Bankman-Fried denied allegations that he stole billions in user funds and suggested that Binance CEO Changpeng “CZ” Zhao conducted a monthslong effort to bring down FTX.It is Bankman-Fried’s first significant response to federal allegations that he directed an $8 billion fraud that destroyed his $32 billion crypto conglomerate. Earlier this month, Bankman-Fried pleaded not guilty to eight…

As times get tighter in retail, Walmart is chasing a new side hustle.The retail giant, known for selling groceries, toothpaste, toys and more in its big-box stores, wants to sell more of its technology and services to other companies. On Thursday, it announced a deal with Salesforce to ramp up sales of its GoLocal delivery service, which drops off purchases at customers’ doors; and Store Assist, which helps employees more quickly and accurately pick and pack orders for curbside pickup and delivery.Starting this spring, the services will be offered through Salesforce and listed in its app store for businesses.Walmart’s latest…

A report has shown that Britain’s worst roads meant that some people were stuck in traffic for 156 hours in some areas in 2022. Some individual roads included an overall time of 47 hoursBritain’s most congested roads have been revealed as some Brits lost 156 hours to traffic in 2022. A report by transportation analyst Bob Pishue in the INRIX Global Traffic Scorecard said that traffic delays increased 72 per cent in urban areas and more people returning to work after the pandemic has also had an impact. The report said: “In the UK, hybrid work increased from 13 per…

In this photo illustration the Disney+ logo seen displayed on a smartphone screen.SOPA Images | LightRocket | Getty ImagesCheck out the companies making headlines in premarket trading.Disney – Disney shares added more than 1% in early morning trading after the company elected independent director Mark Parker as Chairman of the board. It also opposed activist investor Nelson Peltz’s attempt to join the board as the two sides prepare for a proxy battle.Bed Bath & Beyond — The retailer advanced 16% premarket, continuing to rally after a handful of meme stocks surged Wednesday. The stock surged almost 69% in Wednesday’s session.American Airlines…

CNN  —  A new round of subpoenas were sent to former President Donald Trump’s associates in recent weeks as part of special counsel Jack Smith’s criminal investigation into efforts to overturn the 2020 election, sources familiar with the probe tell CNN. Amid the extensive requests for information are new questions from federal investigators about who is paying for legal representation for subpoena recipients. The subpoenas, as described to CNN, asked individuals not only how their legal bills were being footed but also to provide a copy of the lawyer retention agreement if the bills were being covered by anyone other…

Former Vice President Mike Pence is staking a position on abortion to the right of his old running-mate and declared 2024 presidential candidate Donald Trump, siding firmly with conservative groups who criticized Trump for blaming GOP midterm election losses on pro-lifers. In an interview with The Hill published Thursday morning, Pence contested Trump’s claim on Truth Social that it was the “‘abortion issue,’ poorly handled by many Republicans, especially those that firmly insisted on No Exceptions, even in the case of Rape, Incest, or Life of the Mother, that lost large numbers of Voters.”Pence, who was staunchly loyal to Trump during…