Author: Press Room

The US government is stepping into a contentious, multijurisdictional legal battle over the ownership of hundreds of millions of dollars’ worth of assets connected to the collapse of Sam Bankman-Fried’s crypto empire. The Justice Department said Wednesday that has moved to seize millions of shares of Robinhood, the popular stock-trading app, whose ownership is disputed by several parties, including Bankman-Fried himself, his bankrupt crypto exchange FTX and another bankrupt crypto company. “We believe that these assets are not property of the bankruptcy estate or that they fall within the exceptions… of bankruptcy code,” Seth Shapiro, a Justice Department attorney, said…

2023 Ford Super Duty F-350 LimitedFordDETROIT — Ford Motor narrowed its U.S. sales loss last year to 2.2%, as the automaker notably increased sales of its F-Series pickups to end 2022 with a slight increase in December.The Detroit automaker on Thursday reported sales of more than 1.9 million vehicles in 2022, including an increase of 3.2% during the final month of the year. Ford’s sales were off 2.7% through November, before the December boost.Ford said it sold more than 75,000 F-Series pickups in December, a 20.1% increase compared with a year earlier and the best month of the year as…

Source: YouTube

Trouble is brewing for crypto bank Silvergate as the company cuts staff by 40% and sells assets at a loss to cover $8.1 billion worth of customer withdrawals. Furthermore, the company’s crypto-related deposits saw a 68% decline in the fourth quarter of last year.According to a Thursday report by Wall Street Journal, the dramatic collapse of FTX sparked a run on Silvergate, forcing the bank to sell assets at a steep discount in a bid to cover around $8.1 billion in user withdrawals. The crypto bank liquidated $5.2 billion of debt securities it was holding on its balance sheet in a bid to…

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The US crypto exchange Coinbase has agreed to shell out a total of $100m to settle a complaint relating to “certain historical shortcomings” in its regulatory compliance work.The massive amount Coinbase is expected to pay is made up of a $50m penalty to the regulator, as well as another $50m committed to compliance program investments. The latter amount will be spent over the next two years, the exchange said.The news was announced by Coinbase on Wednesday in a blog post where it called the payments “a critical step in our commitment to continuous improvement, our engagement with key regulators, and…

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Bed Bath & Beyond issued a grim message about its future Thursday, warning that a bankruptcy filing is a possible outcome for the company. There is “substantial doubt about the company’s ability to continue” because of its worsening financial situation, the home goods chain said in a regulatory filing. The company added that it is exploring strategic alternatives, including restructuring its debt, seeking additional cash, selling assets and filing for bankruptcy. The Wall Street Journal reported that Bed Bath & Beyond is preparing to file for bankruptcy within weeks, citing sources familiar with the matter. Bed Bath & Beyond did…

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