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Now FTX thinks it’s been hacked



FTX has filed for bankruptcy protection after abnormal transactions caused hundreds of millions of dollars worth of crypto assets to be withdrawn.

This is the latest blow for FTX, which has been marred by controversy in recent months.

On Saturday, the official Twitter account of FTX retweeted comments from Ryne Miller, the company’s general counsel in the US, in which he said it was “investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges”. Outflows were estimated to be at least $266mn over the past 24 hours

FTX has been embroiled in controversy in recent months, with some calling into question the exchange’s business practices. In May, FTX was accused of market manipulation after it was revealed that the exchange had been offering “margin trading” to its users.

Margin trading allows users to trade with borrowed funds, and it can be used to artificially inflate prices.

Then, in June, FTX was again accused of market manipulation after it was revealed that the exchange had been offering ” futures contracts” to its users. Futures contracts are agreements to buy or sell an asset at a future date, and they can be used to speculate on the price of an asset.

Now, the potential hack is the latest blow for FTX. The exchange has lost hundreds of millions of dollars worth of assets, and it is currently under investigation by the US Securities and Exchange Commission (SEC). It remains to be seen how this will all impact the future of FTX.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Deepfakes are taking over Hollywood



Deepfakes are the online phenomenon changing the way in which we consume and trust social media

Have you ever scrolled through social media and found a celebrity selling something a bit left of centre?

Chances are you have fallen victim to a deepfake.

These images and videos are a type of artificial intelligence, which promises to create doctored videos, which are almost impossible to tell apart from the real thing.

They have typically been used in pornographic clips and for celebrity endorsements.

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Debt limit dispute: will America default?



Can U.S. lawmakers agree on the debt limit before the fast approaching deadline to avoid default?

The executive branch and Congress are trying to strike a deal about the debt limit as the country marches closer to defaulting.

But can President Joe Biden and Republicans come to an agreement on fiscal policy in time?

The federal government could run out of money as early as June 1. Without borrowing more there is a risk that the United States will begin defaulting on its financial obligations.

Negotiations between Speaker Kevin McCarthy and President Joe Biden at the White House continue as lawmakers are staring down a swiftly approaching deadline.

The Treasury has been warning that the government would likely default on some bills in June if Congress does not raise the debt ceiling.

Democrats have insisted on raising the debt limit without preconditions. But Republicans say President Biden and the Democrats are playing Russian roulette with America’s economy after a two-year spending binge that brought 40-year high inflation and pushed the nation’s debt to over $31-trillion.

While both sides have agreed that action is needed to reduce the deficit—each have extremely different ideas about how to do it.

Republicans are looking to cut spending levels, while Democrats have called to increase tax revenue from the ultra-wealthy and large corporations.

So, can Washington D.C. politicians broker a deal and prevent the American economy from falling off a cliff?

Mitch Roschelle, Managing Director at Madison Ventures and a Visiting Research Fellow at the University of San Diego School of Business joined us to discuss. #U.S. Politics #Mitch Roschelle #debt ceiling #Capitol Hill #Washington D.C.

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Qantas leadership change takes full flight as airfares skyrocket



The next CEO of Australia’s high-profile airline, Qantas has a huge task ahead

After the long reign of her predecessor Alan Joyce, Vanessa Hudson inherits an airline with some key challenges ahead.

The challenges facing any CEO at the moment are high. Rising costs, tough competition, and cash-strapped customers are all part of the package when it comes to running an airline.

Qantas is one of the world’s most famous airlines.

At the height of the pandemic, the company’s results see-sawed.

However, it survived in part due to the actions of CEO Alan Joyce, and his right-hand CFO Vanessa Hudson.

Now, Alan Joyce is stepping down and Vanessa Hudson beat a field of 40 contenders for his job.

While Alan Joyce kept shareholders happy in recent times, some analysts believe he skimped on capital expenditure, leaving a multi-billion dollar hit to the new CEO.

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