Mt. Gox moves at least $2.9 billion in bitcoin for first time in five years – The Block
Published 1 minute ago upon Updated: May 27, 2024 11:31 PM EDT According to data from Arkham Intelligence, Mt. Gox appears to have moved at least 42,830 BTC, worth roughly $2.9 billion, from its cold wallets. The bitcoin exchange, which collapsed in 2014, transferred assets to unknown addresses in multiple transactions as of 11 a.m. […]
Elon Musk’s xAI gets $6 billion in new funding and announces valuation
Barron’s Roundtable panelists discuss whether software makers are ready for AI. Billionaire Elon Musk’s Artificial Intelligence (AI) Startup xAI announced on Sunday that it had raised $6 billion in Series B funding, raising its post-money valuation to $24 billion. Investors in xAI’s $6 billion Series B round included Valor Equity Partners, Vy Capital, Andreessen Horowitz, […]
Elon Musk’s startup xAI announces $6 billion fundraising round
Elon Musk is pooling cash for his own AI startup, escalating the artificial intelligence arms race with his former colleagues at OpenAI. Tesla tycoon’s company xAI — Powering the sarcastic Grok chatbot — It announced it had raised $6 billion on Sunday The company has raised a new funding round, raising investment from venture capital […]
Tesla shareholders advised to reject Musk’s $56 billion pay
Proxy advisory firm Glass Lewis said Saturday it has urged Tesla shareholders to reject a $56 billion compensation package for CEO Elon Musk that, if passed, would be the largest ever for a CEO of a U.S. company. The report cited the “excessive size” of compensation agreements, dilutive effects upon exercise and concentrated ownership as […]
NCAA, Power Five approve bombshell $2.8 billion settlement
The NCAA and the nation’s top five conferences agreed to pay roughly $2.8 billion to settle multiple antitrust lawsuits, a landmark decision that could lay the groundwork for a groundbreaking revenue-sharing model that could result in millions of dollars being paid directly to athletes starting as early as the fall semester of 2025. The agreement […]
Armed Services Committee passes House version of $850 billion defense bill with 20% pay hike on strong bipartisan vote
2025 NDAA: BIG PAY RAISE, MORE F-35s, LESS WOKE: The annual National Defense Authorization Act, the must-pass legislation known colloquially as the NDAA, was approved in record time by the House Armed Services Committee last night on 57-1, with Rep. Ro Khanna (D-CA) as a lone dissenter. The House version of the fiscal 2025 NDAA […]
Biden Cancels More than $7 Billion in Student Debt for 160,000 People
President Joe Biden announced that his administration will forgive more than $7 billion in student loan debt for 160,000 people. The White House statement On Wednesday, it was announced that 160,000 people in the United States would have their student loans canceled, eliminating a total of $7.7 billion in student loans. WATCH — Journalist asks […]
Colorado case aims not to be lumped into proposed $2.8 billion NCAA player-pay settlement
The NCAA is working toward a potential $2.8 billion settlement that would resolve three antitrust lawsuits, with the Big Ten Conference giving the latest approval, but it’s unclear whether a fourth lawsuit would be included in the agreement. Fontenot v. NCAA lawyers said Wednesday they want the case to remain in federal court in Colorado, […]
Biden Forgives Another $7.7 Billion In Americans’ Student Loan Debt
President Joe Biden’s administration on Wednesday forgave an additional $7.7 billion in student loan debt for about 160,000 borrowers. The president announced in a document statement He claimed to have forgiven the debts of applicants such as teachers, nurses and law enforcement officers who enrolled in the government’s Savings for Valuable Education (SAVE) repayment plan. […]
Fat-finger trade? Citigroup fined for nearly dumping $189 billion of stocks by accident – CNN
Leon Neal/Getty Images Citigroup’s London office, photographed in January 2024. London CNN — British regulators on Wednesday accused Citigroup of a total of 62 million pounds ($79 million) after a failure in its trading systems threatened to dump $189 billion worth of shares into European markets. fined. The Financial Conduct Authority (FCA)C) Meanwhile, the Bank […]