The startup has received “tens of millions from investors in short-term loans“ to make sure it can cover election bets:
Like most brokerages, the company offers instant funding to new users. This means users can start trading right away, even though it may take two to three business days for the funds to be officially transferred from the customer’s bank account to Kalshi’s.
Forbes reports on “evidence of rampant wash trading on Polymarket,” a prediction market site backed by Peter Thiel’s Founders Fund. Wash trading is a form of market manipulation. “The suspicious activity on Polymarket raises questions about the accuracy of the site,” Forbes writes.
Court documents from the MrBeast Burger lawsuit revealed pitch decks prepared by his team for potential brand partners, and Business Insider went through them.
You get the sense that his team didn’t try very hard when putting decks together: slides have weird layouts, overlapping text, and are borderline unreadable. And maybe that’s the biggest takeaway here — the MrBeast brand sells itself.
Singh, now the fourth FTX executive to be sentenced after Sam Bankman-Fried, Caroline Ellison, and Ryan Salame, will receive three years of supervised release.
Judge Lewis A. Kaplan, who has presided over the cases, said that Mr. Singh provided crucial assistance to the government and that he had played a “much more limited” role in the scheme than his colleagues had.
[The New York Times]
The Airbnb cofounder discusses being ‘in the details’ and why traditional management is doing it wrong.
