Broke and down to one credit card: Former FTX CEO Sam Bankman-Fried claims he committed no fraud

Former FTX CEO Sam Bankman-Fried, in possibly the understatement of 2022, said Wednesday, “I’ve had a bad month.” The former billionaire added that he “didn’t do a good job” at upholding his responsibilities to regulators, customers, and investors in a hotly anticipated conversation with CNBC’s Andrew Ross Sorkin at the Dealbook Summit. Bankman-Fried’s FTX imploded […]

Airbnb Reinvents Feudalism

Airbnb has launched a new long-term listing service intended to make it easier for would-be-renters to find apartments where they’re allowed to sublet short-term. The site, similar to Zillow or StreetEasy, currently shows listings for about 175 buildings in more than 25 U.S. locations. Airbnb doesn’t own these apartments or buildings, instead they’re owned by […]

Oil Prices Jump On Major Crude Draw

Crude oil inventories sagged by another 7.85 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 4.2 million barrels in the week prior. Analysts anticipated a 2.487 million barrel draw. U.S. crude inventories may have grown by roughly 13 million barrels so far this year, according to API data, but crude stored in […]