Investors stunned by last week’s strong rally in stocks may want to listen to Tom Waits’ song, 1978’s “Whistlin’ Past the Graveyard,” to sober up the dangers that still lurk. The surge in stocks catapulted the S&P 500 SPX index, +0.92% TO SPY, +0.97% almost back to the 4,000 mark on Friday, also taking it …
FTX bankruptcy, Meta layoffs: Equity investors could whistle past the graveyard Read More »
FTX Collapse Crushes NFT Ecosystem Getty What happened In response to FTX’s insolvency, crypto markets have been in a risk-taking mood, with asset prices dropping precipitously for all crypto tokens, fungible and non-fungible. The aggregate market capitalization of all cryptocurrencies fell 23% to $786 billion from $1.02 trillion in four days. Nansen’s NFT-500 Index indicates …
Former FTX co-founder Sam Bankman-Fried, 30, was worth $26 billion. The entire $16 billion fortune of former FTX co-founder Sam Bankman-Fried was wiped out, one of the greatest wealth destructions in history. The fall of his crypto empire – which filed for bankruptcy on Friday with his resignation – means that the assets held by …
30-year-old assets fall from $16 billion to 0 in days Read More »
