“What Is Grayscale Hiding?” Lawsuit Filed Against Grayscale Demands Opening The Books
Fir Tree Capital Management has sued Grayscale Investments seeking information that could be used to make changes in the way its flagship $10.7-billion Bitcoin Trust is administered. “Plaintiffs have serious questions about Grayscale’s mismanagement of the Trust and the troubling reports about liquidity issues within Digital Currency Group and its corporate affiliates, which have been […]
More 2022 Layoffs: BuzzFeed Cuts 12% Of Its Workforce
Jonah Peretti is the latest tech CEO to send an apology email as BuzzFeed, Inc. (Nasdaq: BZFD) moves to lay off 12% of its workforce, or about 180 employees. In his letter, Peretti cited “a combination of worsening macroeconomic conditions and the ongoing audience shift to vertical video” as the reasons for the decline in […]
Largest Foreign Investment in US History: Chip Maker TSMC Boosts Arizona Facility Investment to $40 Billion
The Taiwan Semiconductor Manufacturing Company (TSMC) plans to allocate an additional $28 billion into a chip manufacturing facility in Arizona, ahead of a series of landmark incentives from the Biden administration to boost domestic semiconductor production. TSMC’s CEO Lisa Su, along with US President Joe Biden and Apple CEO Tim Cook, is set to announce […]
Dollarama: Canaccord Expects Same-Store Sales Growth In Q3
Dollarama (TSX: DOL) is expected to report its third quarter financial results of 2023 this morning. The consensus estimate suggests that revenues will grow $15 million consecutively to $1.23 billion, with this estimate growing slightly over the last twelve months. Analysts expect this revenue growth to continue into gross margins, as they expect gross profits […]
Congress Drops Marijuana Reform In Defense Bill
Following bipartisan and bicameral discussions, a large-scale defense package that proponents thought would serve as a vehicle to enact marijuana banking and expungement reform does not include any cannabis provisions. While lawmakers had hoped to tie the cannabis measures to the National Defense Authorization Act (NDAA), criticism from certain Republican lawmakers disrupted that strategy ahead […]
Is Elon Musk Creating a Twitter Crypto Coin?
Rumours are circling on social media that new Twitter CEO and crypto proponent Elon Musk is potentially creating a native coin for the social media platform, in what could be the latest revival attempt at virtual currencies amidst a cold crypto winter. Musk, who has long been a crypto enthusiast, says it’s a “no brainer” […]
Jim Cramer Calls SBF A “Total Con Artist”
The energetic host of CNBC’s Mad Money isn’t exactly known for making good calls. But with the disgraced FTX founder and former CEO Sam Bankman-Fried, it seems an Inverse Cramer exception is in order. Jim Cramer blasted SBF in an interview with CNBC anchor Andrew Ross Sorkin and shared some unfiltered thoughts. SBF, who’s currently […]
Switzerland Could Start Banning EV Use For ‘Non-Essential Journeys’ Due To Energy Shortage
Electric vehicles could be restricted from making non-essential trips in Switzerland as part of a multi-tier ordinance that the government is preparing in case of a shortage in the country’s energy supply. The Swiss Federal Council submitted a set of draft ordinances about two weeks ago. Among those drafts was the “Ordinance on Restrictions and […]
It Looks Like Elon Musk Overhyped ‘Twitter Files’ Too
As he is known to do, Elon Musk once again promised something and failed to deliver. This time, Twitter’s owner and champion of the “de facto public town square” teased a bombshell of a story: “What really happened with the Hunter Biden story suppression by Twitter” and said, complete with a popcorn emoji, that “This […]
Animals Were Harmed At Elon Musk’s Neuralink As Federal Probe Ensues
Elon Musk’s medical firm Neuralink is reportedly being investigated by the federal government for alleged animal-welfare violations, despite internal staff complaints that its animal testing is rushed. The company has killed around 1,500 animals, including more than 280 sheep, pigs and monkeys following studies since 2018, according to records examined by Reuters and sources with […]