Author: Anthony M. Orbison

FTX got court approval to proceed with its reorganization plan.  Some seemed unhappy with the FTX plan.  The US bankruptcy court has approved the reorganization plan of defunct crypto exchange FTX, ending a complex crypto bankruptcy case that began two years ago.  Judge John T. Dorsey of the US Bankruptcy Court District of Delaware approved the plan on 7th October, paving the way for the final distribution of funds to victims of the defunct FTX exchange.  FTX crypto exchange’s repayment plan The plan sought to reimburse 119% of the claimed value to about 98% of former FTX users. John J.…

These are the upcoming stock splits for the week of October 7 to October 11, based on TipRanks’ Stock Splits Calendar. A stock split is a corporate action in which the company issues additional common shares to increase the number of outstanding shares. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split.In contrast, there are also reverse stock splits that reduce the number of outstanding shares (consolidate). In this case, too, the market cap is maintained as the share price increases following the reverse stock split.Companies often undertake stock splits to…

Nvidia shares moved higher in early Tuesday trading, extending the stock’s solid one-month gain to around 20%, following a key update on the pace of Blackwell chip production heading into the coming year. Nvidia  (NVDA) , which holds a commanding share in the market for both AI-powering chips and broader processing systems, is looking to ramp production of its new Blackwell architecture over the coming months following design delays reported earlier this summer.The AI demand story is also highlighting Nvidia’s place in the overall supply chain, with a massive mover higher in Super Micro Computer  (SMCI)  yesterday tied to its robust server sales…

A recent meme coin miracle has shocked the crypto world. On Solana, an unknown trader turned $800 into $10 million using Moo Deng tokens.Source: SolscanAlso Read: Epic Games To Create Fortnite, Minecraft, Roblox MetaverseUnderstanding Meme Coin Trading: The Moo Deng Success Story and Solana’s RoleThe Rise of Moo DengMoo Deng is a meme coin based on a popular Thai baby hippo. It grew rapidly on Solana. One trader bought 30.2 million tokens for $800. These tokens reached a value of $10 million on September 28.Meme Coin Trading RisksThe trader’s fortune didn’t last long. In just nine days, Moo Deng’s price…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK Serious Fraud Office and Eurasian Natural Resources Corporation have settled a dispute over the agency’s conduct in its criminal probe of the Kazakh mining group, bringing an end to a key element of their years-long battle.The SFO and ENRC said on Tuesday in London’s High Court that the case, which was due to go to trial this week, had been settled for an undisclosed amount.The legal battle concerned whether the prosecutor leaked information to the media during its decade-long corruption…

BEIJING/PARIS (Reuters) -China imposed temporary anti-dumping measures on brandy imports from the European Union on Tuesday, hitting brands from Hennessy to Remy Martin, after the 27-state bloc voted for tariffs on Chinese-made electric vehicles (EVs). An investigation has preliminarily determined that dumping of brandy from the EU is threatening China’s own brandy sector with “substantial damage”, the Chinese commerce ministry said. Hinting at more to come potentially, the Chinese ministry said its anti-dumping and anti-subsidy investigation into EU pork products was ongoing and would make “objective and fair” decisions at the end of the probe. The ministry added that it…

Crypto veteran Chris Burniske is expecting big things from memecoins in the current digital asset market cycle. The venture capitalist says on the social media platform X that “memecoins’ tendency to trigger” suggests they will be bigger than expected going forward. “The cultural relevance some NFT collections garnered in 2021 will be surpassed by some memecoins. Not here to endorse a horse, but the trend is clear.” Burniske, a partner at venture capital firm Placeholder, also feels optimistic about the development of non-fungible tokens (NFTs). “While memecoins replace PFP (profile picture) NFT collections that were primarily about the $$$, true…

Tom Nolan, CEO of Kendra Scott, says that it boils down to one thing when working for the founder of a company: trust.  During the past 10 years he’s been with the company, Nolan has built a sibling-like relationship with Kendra Scott, the namesake founder and former CEO of the company. The two are often on the same page as one another, but when they do occasionally disagree, honesty trumps all.  “I think most founders look at a business as their kid. So giving custody of your kid really requires trust,” Nolan said at the Fortune COO Summit in Middleburg,…

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.When buying a newer vehicle, one form of coverage that can be crucial is guaranteed asset protection, or “gap” insurance. It covers the shortfall between your car’s fair market value and what you owe on your loan or lease if the vehicle is totaled in an accident or stolen. Without it, you could be on the hook for the price difference yourself.Gap insurance is a relatively inexpensive form of coverage. According to the Insurance Information Institute, a…

Spot Bitcoin exchange-traded funds in the U.S. saw a significant jump in net positive flows, while Ethereum spot ETFs saw a complete standstill. According to data from SoSoValue, the 12 spot Bitcoin ETFs logged inflows of $235.19 million on Oct. 7, a surge of over nine times compared to the $25.59 million inflows recorded the previous trading day. Fidelity’s FBTC led the charge with $103.68 million in inflows, followed closely by BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, which saw $97.88 million. IBIT had reported zero flows the prior day, making its rebound notable. Bitwise’s BITB continued…