Tag: CEO

Apple CEO Tim Cook Gets $41M from Share Sales after Tax Deductions, Analysts Downgrade AAPL Shares

Analysts at KeyBanc downgraded Apple shares from ‘Overweight’ to ‘sector-weight’ citing a weaker sales growth outlook. Apple Inc (NASDAQ: AAPL) top executives led by Chief Executive Officer (CEO) Tim Cook, senior vice presidents Deirdre O’Brien and Katherine Adams offloaded part of their shareholdings according to filings with the United States Securities and Exchange Commission (SEC). Notably, Apple CEO Cook sold about 511,000 shares worth approximately $87.8 million. However, after tax deductions Cook received a total of about $41.5 million. As a result, Cook now owns about 3.28 million shares in…

12 people will decide the fate of former FTX CEO Sam Bankman-Fried

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A pregnant physician’s assistant, a train conductor and a retired investment banker are reportedly among the 12 individuals who will eventually decide on the fate of former FTX CEO Sam Bankman-Fried. As per a report from Cointelegraph’s on-the-ground reporter Ana Paula Pereira, the 12 jurors were narrowed down from a list of 45 on Oct. 4, the second day of trial in Manhattan. The potential jurors were each given a minute to introduce themselves by sharing their background, age, employment, education, relationship history and children. Pereira noted that one prospective…

lack of crypto rules doesn’t impact charges against ex-FTX CEO

The United States Department of Justice (DOJ) says the lack of crypto rules in the U.S. doesn’t affect charges against ex-FTX CEO Sam Bankman-Fried (SBF). The DOJ has filed a motion to dismiss the argument that the absence of crypto regulations in the U.S. should affect the criminal charges against SBF, the former CEO of crypto exchange FTX. On Oct. 4, a motion was filed in response to Bankman-Fried’s legal team’s request for clarification and reconsideration of charges. They argued that their client wasn’t guilty of misappropriating funds because FTX…

New book reveals Binance CEO CZ rejected SBF’s $40M request for futures exchange

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Binance CEO Changpeng “CZ” Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman-Fried (SBF) for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. According to the book, SBF proposed a futures exchange with “zero risk” in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral if the trade starts…

Softbank CEO Implores Japan to Wake Up to AI Adoption

Softacom CEO predicted that Artificial General Intelligence (AGI) would be realized within the next decade. Masayoshi Son, the founder and CEO of SoftBank Group Corp (TYO: 9984), has advised businesses in Japan to embrace the potential of Artificial Intelligence (AI) and called for early adoption. Son delivered the statement while speaking at the recent SoftBank World corporate conference, an annual event for the company’s corporate clients in Japan. Son’s keynote address brimmed with optimism and a sense of urgency. He highlighted the importance of Japan catching up with the rapidly…

Latest update — Former FTX CEO Sam Bankman-Fried trial [Day 1]

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Cointelegraph reporters are on the ground in New York for the trial of former FTX CEO Sam Bankman-Fried. As the saga unfolds, check below for the latest updates. Oct. 3: SBF trial begins The trial of Sam Bankman-Fried began on Oct. 3 with jury selection. Bankman-Fried is charged with seven counts of conspiracy and fraud in connection with the collapse of FTX, the cryptocurrency exchange he co-founded. He has pleaded not guilty to all charges. The case is being heard by Judge Lewis Kaplan, who has presided over a long…

ETF filings changed the Bitcoin narrative overnight — Ledger CEO

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Over the past 12 months, some investors learned the hard way why they needed to move their crypto offline. Those who kept Bitcoin (BTC) and altcoins on crypto exchanges like FTX lost control of their assets, sometimes forever. Events drew a red line under the storied crypto adage: “Not your keys, not your coins.”  FTX’s loss was hardware wallet manufacturer Ledger’s gain, however. The Bahamas-based exchange’s November 2022 bankruptcy filing delivered to Ledger “our biggest sales day ever,” the firm’s chief experience officer, Ian Rogers, told Cointelegraph, and “November turned…

AI can be used in ‘every single process’ of JPMorgan’s operations, says CEO

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JPMorgan CEO Jamie Dimon says artificial intelligence could be applied to “every single process” of his firm’s operations and may replace humans in certain roles. In an Oct. 2 interview with Bloomberg, Dimon said he expects to see “all different types of models” and tools and technology for AI in the future. “It’s a living, breathing thing, he said, adding: “But the way to think about for us is every single process, so errors, trading, hedging, research, every app, every database, you can be applying AI.” “So it might be…

Tokenization is “securitization done on steroids” — Franklin Templeton CEO

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Securitization, a practice with over 50 years of history, is undergoing a dramatic transformation, believes Jenny Johnson, CEO of Franklin Templeton, one of the world’s largest asset managers. During CNBC’s Delivering Alpha event, Johnson noted that tokenization — the process of converting asset ownership rights into digital tokens on a blockchain — is akin to “securitization done on steroids,” a term often used to describe something that exceeds expectations. Johnson’s remarks were part of an analysis of the future of alternative investment vehicles. The executive noted that available capital and…

nChain CEO resigns, claims Craig Wright is not Satoshi

Venture capitalist Christen Ager-Hanssen announced his departure from web3 solutions provider nChain, citing a conspiracy to defraud shareholders. The Norwegian internet entrepreneur stated on social media that he was stepping down from his position as CEO “with immediate effect.” I can confirm I have departed from @nChainGlobal as its Group CEO with immediate effect after reporting several serious issues to the board of nChain Group including what I believe is a conspiracy to defraud nChain shareholders orchestrated by a significant shareholder. I also… pic.twitter.com/F6rNJfRxnl — Christen Ager-Hanssen (@agerhanssen) September 29,…