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Showing posts with the label Temasek

7 Best Christmas Tree Stands in 2022

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Believe it or not, a Christmas tree won't stay upright on its own. Instead, you need a stable Christmas tree stand that can accommodate the type and size of tree you have. We researched dozens of the best Christmas tree stands to help you find the right one for your needs, whether you have a real tree, an artificial tree, a small tree, or a behemoth. The stands in our guide have a track record of durability, performance, and easy setup. We also outline the size and type of tree each stand is meant for. Check out our guide to the best Christmas tree skirts once you've chosen the right stand for your tree. The best Christmas tree stands in 2022 Best Christmas tree stand overall: Krinner Tree Genie Christmas Tree Stand, available at Amazon, $82.79 The German-engineered Krinner Tree Genie Christmas Tree Stand is easy to set up in a couple of minutes and keeps trees up to 12 f...

Crypto exchange FTX to start U.S. bankruptcy proceedings, CEO Sam Bankman-Fried resigns

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Crypto exchange FTX filed for U.S. bankruptcy proceedings on Friday and Sam Bankman-Fried stepped down as CEO after a rapid liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. The distressed crypto trading platform had been struggling to raise billions in funds to stave off collapse after traders rushed to withdraw US$6-billion from the platform in just 72 hours and rival exchange Binance abandoned a proposed rescue deal. The company said in a statement shared on Twitter on Friday that FTX, its affiliated crypto trading fund Alameda Research and approximately 130 other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware. FTX had raised US$400-million from investors in January, increasing the valuation of the company to US$32-billion. It attracted money from investors such as Singapore state investor Temasek and the Ontario Teachers’ Pension Plan. John J. Ray III has been appointed to take over as C...

New FTX CEO John Ray criticizes oversight of bankrupt crypto exchange

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New FTX CEO John Ray said there was flawed regulatory oversight and a lack of corporate control of the bankrupt crypto exchange founded by Sam Bankman-Fried in a U.S. court filing on Thursday. In the highest-profile crypto blow-up to date, FTX filed for protection in the United States on Friday after traders pulled $6-billion from the platform in three days and rival exchange Binance abandoned a rescue deal. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said in the filing, which was lodged with the District of Delaware bankruptcy court. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” Ray added in the filing. Bankruptcy specialist Ray, who took over from Bankman-Frie...

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