Over the past week, the SBF and FTX situation has only grown more complex. More and more workers are getting let go as companies begin to prioritize profits over growth. And retail sales increased 1.3% in October but it seems to be fueled by consumer debt as US household debt rose to $16.5 trillion.

All these stories covered on “This Week in Finance”

November 10 - November 17

#stocks #ftx #crypto #news

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00:00 Busy week in finance

00:37 Cost cutting & Google activist letter

04:35 FTX saga continues & bankruptcy filing

10:33 Retail sales & earnings

14:45 Thank you for watching!

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Activist Letter: https://www.tcifund.com/files/corporateengageement/alphabet/15th%20November%202022.pdf

Amazon Cuts Jobs: https://www.cnbc.com/2022/11/14/amazon-reportedly-plans-to-lay-off-about-10000-employees-starting-this-week.html

2022 Tech Layoffs https://www.cnbc.com/2022/11/09/tech-layoffs-2022.html

SBF Vox Interview: https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy

Genesis: https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/

BlockFi: https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/

Genesis Tweet: https://twitter.com/JasonYanowitz/status/1592917789898989568?s=20&t=yF2vtZtZLdx5OmyqeNG7Yw

FTX Tweet: https://twitter.com/gurgavin/status/1593292792582635520?s=20&t=yF2vtZtZLdx5OmyqeNG7Yw

Retail Earnings Tweets: https://twitter.com/finfriendsYT

US Retail Sales: https://www.reuters.com/markets/us/us-retail-sales-beat-expectations-october-2022-11-16/

Household Debt: https://www.cnbc.com/2022/11/15/household-debt-soars-at-fastest-pace-in-15-years-as-credit-card-use-surges-fed-report-says.html

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*These videos are for entertainment purposes only and are NOT financial advice*