FTX

Former FTX executive Ryan Salame will be sentenced on May 28 in a New York courtroom after pleading guilty to criminal charges. Salame's sentencing will begin at 11 a.m. in front of Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York.

After months of uncertainty from Ryan Salame's FTX fallout, the Olde Heritage Tavern in Lenox has new owners. Longtime sisters and co-managers Rachel and Becky Piccolo have turned the business over to the Piccolo sisters.

Truong My Lan sentenced to death in country's largest-ever corruption case. Total financial damages are equivalent to 6% of country's 2023 gross domestic product. Amount dwarfs amount in FTX cryptocurrency exchange scandal that resulted in founder Sam Bankman-Fried being sentenced to 25 years in prison.

Sam Bankman-Fried was an attention-seeker who committed a shameless fraud. Tom Hayes was an oddball trading-floor genius. Both were operating in global markets that are fertile for complex dishonesty. Perhaps whats needed is a financial arm of the International Court of Justice in The Hague.

Millennium Management, one of the worlds largest hedge fund firms, was sued on Friday by rival Jane Street Group, which accused it of stealing a valuable in-house trading strategy after two traders defected. Jane Street said the traders Douglas Schadewald and Daniel Spottiswood had been intimately involved in developing the strategy before resigning separately to join Millennium in February. It said the theft became apparent when its profit from the strategy plunged more than 50% almost immediately after the traders left.

U.S. Rep. Patrick McHenry (R-N.C.) has urged the United States to spearhead Bitcoin innovation. He stressed the importance of educating policymakers on Bitcoin to prevent ill-informed policy decisions. McHenry has been vocal about cryptocurrency regulation in the past.

Effective Altruists bought a 550-year-old British castle near Oxford for about $15 million in 2021. Sam Bankman-Fried funded the effective-altruist movement. The castle is for sale as the EA movement struggles to pay back money that was stolen from his victims. The EA movement has suffered a tremendous collapse in relevance and credibility.

Dennis Elam says social mood is trending negatively. Negative mood is surfacing in the markets as well. May gasoline futures are $2.82, set to cross $3 in time for driving season. Polls indicate a majority want neither presidential candidate. In periods of negative mood, politicians appear unsuccessful.

Apple plans to open a roughly 45,000-square-foot office space in a Coral Gables tower. The smartphone maker is poised to move into a newly constructed mixed-use complex in the City Beautiful. Apple reportedly has a lease for upper floors in The Plaza's north tower, one of two towers in the complex.

Grayscale CEO sees bitcoin ETF outflows reaching equilibrium - SRN News. Total outflows from the Bitcoin Trust (GBTC) in the last three months topped $15 billion, according to data from BitMEX Research. Total assets under management have dipped only slightly to $23.13 billion.