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Soccer star Tom Brady, companies controlled by the New England Patriots Robert Kraft, and crypto firms Blackrock, Coinbase, Lightspeed Venture Partners, Pantera Ventures, and Tezos Foundation are among the names included in documents filed with the Delaware Bankruptcy Court as the owner of FTX Shares Tendered.

According to the filings, Brady held 1,144,861 shares of common stock, while supermodel, businesswoman and Brady’s ex-wife Gisele Bundchen owned 686,761. The former couple once served as ambassadors for FTX after acquiring shares in the company in June 2021.

Kraft Group held 634,144 common and preferred shares through KPC Venture Capital, and rival cryptocurrency exchange Coinbase held 5,284,899 common and preferred shares.

It’s difficult to estimate a dollar value for the shares since FTX catastrophically collapsed prior to the IPO.

FTX has used its native FTT token for corporate acquisitions, including buying crypto portfolio company Blockfolio in 2020. At the time, the acquisition was valued at $150 million and is said to have been made with a mix of cash, crypto and equity being.

In reality, 94% of the business was funded through AGVs.

On November 6, 2022, Binance CEO Changpeng “CZ” Zhao posted on Twitter that the exchange would liquidate its entire FTT position, effectively hollowing out FTX, which filed for bankruptcy protection less than a week later.

The listing of common and preferred stock represents a more conventional corporate ownership model that will no longer be used.

Before its collapse, FTX had an impressive roster of celebrities and athletes as ambassadors and speakers, including Brady, Bundchen, Shark Tank’s Kevin O’Leary and Golden State Warriors’ Steph Curry.

While Curry and his SC30 company do not appear in the Delaware filing, O’Leary’s company, O’Leary Productions, held 184,061 FTX common and preferred shares.

At a hearing in the Senate Committee on Banking, Housing and Urban Affairs in December, the famous businessman called Binance a “massive, unregulated monopoly” and claimed that Binance intentionally caused FTX to collapse.

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The University of Chicago Medicine has acquired a controlling interest in four western suburban hospitals, expanding the healthcare system’s presence in Illinois.

The University of Chicago Medicine now owns part of AdventHealth’s Great Lakes Region, which includes four hospitals in Bolingbrook, Glendale Heights, Hinsdale and La Grange and a network of nearly 50 physician offices and outpatient clinics.

These four hospitals and other western suburban locations will now include the UChicago Medicine AdventHealth title in their names. AdventHealth still owns a portion of the hospitals and will continue to run day-to-day operations.

The new arrangement became official on January 1 and was announced in September. Financial terms of the deal are not disclosed.

Leading hospital systems say the deal will give AdventHealth patients greater access to UChicago Medicine specialists and clinical trials closer to home, and provide UChicago Medicine patients living in the western suburbs with more care options in their own communities.

The four western suburban hospitals were previously part of Amita Health, a partnership between AdventHealth and Ascension before those two systems dissolved the partnership last year.

The acquisition is UChicago Medicine’s latest move to grow and expand further into the suburbs. The system, which includes the University of Chicago Medical Center, acquired Ingalls Memorial Hospital in Harvey in 2016 and in August broke ground on a 130,000-square-foot medical facility in Crown Point, Indiana.

In February, UChicago Medicine announced plans to build a $633 million, 500,000-square-foot cancer hospital in Hyde Park to address health inequalities on the South Side and attract patients from across the region.

It is common for healthcare systems to grow by acquiring other hospitals in the area. Hospital leaders say the deals help them achieve economies of scale, reach more patients and adapt to changing technology. Hospitals often say they hope to improve care and affordability through mergers, although mergers and acquisitions often also increase hospitals’ bargaining power over insurers, allowing them to charge higher rates for services.

AdventHealth is affiliated with the Seventh-day Adventist Church and has more than 50 hospitals and hundreds of care facilities in nine states. Only the Great Lakes Region was involved in the deal with UChicago Medicine.

Several people were slightly stabbed at the Gare du Nord in Paris on Wednesday by a man who was immediately arrested on the spot, a police source tells us.

The incident happened around 6:45 a.m. at the train station. For unknown reasons, the man injured several people with a bladed weapon. The police subdued him with their gun, the same source added.

The slightly injured attacker was treated on site by the rescue workers.

A security perimeter was immediately established.

Gare du Nord serves as a terminal for many commuter and national train lines, as well as international trains such as the Thalys Paris-Brussels and Eurostar Paris-London.

A casualty count was taken just after 8:00 a.m.

Interior Minister Gérald Darmanin responded on Twitter by writing: “Thank you to the police for their brave and effective response.”

A government watchdog has released a scathing rebuke of the Home Office’s cybersecurity stance, stating that it was able to breach thousands of employee user accounts because the department’s security policies allow for easily guessable passwords like “Password1234.”

The report from the Office of the Inspector General of the Department of the Interior, which is tasked with overseeing the U.S. executive agency that manages the state, national parks and a billion-euro state budget, says the department relies on passwords the only way some of its most important ones Protecting employee systems and user accounts has defied the government’s own cybersecurity policy, which mandates stronger two-factor authentication, for nearly two decades.

She concludes that poor password policies put the department at risk of a breach that could result in a “high probability” of massive disruption to their operations.

The inspector general’s office said it launched its investigation after an earlier test of the agency’s cybersecurity defenses found lax password policies and requirements at the more than a dozen agencies and Home Department offices. This time, the goal was to determine whether the department’s security measures were sufficient to block the use of stolen and recovered passwords.

Passwords themselves are not always stolen in their readable form. The passwords you create on websites and online services are usually encrypted and stored in a way that is unreadable to humans – usually as a sequence of seemingly random letters and numbers – so passwords stolen by malware or a data breach not simply can be used more hacks. This is called password hashing, and the complexity of a password (and the strength of the hashing algorithm used to encrypt it) determines how long it takes a computer to decrypt it. In general, the longer or more complex the password, the longer it will take to recover.

But Watchdog employees said that relying on claims that passwords that meet the department’s minimum security requirements would take more than a hundred years to recover using off-the-shelf password-cracking software created a “false sense of security.” that its passwords are secure in large part due to the commercial availability of the computing power available today.

To get their point across, the watchdog spent less than $15,000 building a password-cracking rig — a setup of one or more high-performance computers chained together — with the processing power needed for complex math problems like the recovery of hashed passwords. Within the first 90 minutes, the watchdog recovered nearly 14,000 employee passwords, or about 16% of all department accounts, including passwords like “Polar_bear65” and “National Parks2014!”.

The watchdog has also recovered hundreds of accounts belonging to high-level government employees and other accounts with elevated security privileges to access sensitive data and systems. Another 4,200 hashed passwords were cracked in another eight weeks of testing.

Password-cracking rigs are not a new concept, but they require significant processing power and energy consumption to function, and it can easily cost several thousand dollars just to create a relatively simple hardware configuration. For comparison, White Oak Security spent about $7,000 on hardware for a reasonably powerful rig in 2019.

When we asked for details of the rig in question, a spokesman for the Office of the Inspector General told TechCrunch:

The setup we used consists of two rigs, each with 8 GPUs (16 total) and a management console. The rigs themselves run several open source containers where we can invoke 2, 4 or 8 GPUs and assign them tasks from the open source work distribution console. Using 2nd and 3rd generation GPUs behind currently available products, we achieved pre-fieldwork combined NTLM benchmarks of 240 GHs testing NTLM over 12 character masks and 25.6 GHs over 10 GB dictionary and a 3 MB rules file. Actual speeds varied across multiple test configurations during engagement.

Password cracking rigs also rely on vast amounts of human-readable data to compare against encrypted passwords. Open-source and freely available software such as Hashcat can be used to compare lists of human-readable words and phrases with hashed passwords. For example, “password” is converted to “5f4dcc3b5aa765d61d8327deb882cf99”. Since this password hash is already known, it takes a computer less than a microsecond to confirm it.

According to the report, the Home Office submitted each user account’s password hashes to the watchdog, which then waited 90 days for the passwords to expire – according to the ministry’s own password policy – before it was safe to attempt to crack them.

The watchdog said it curated its own custom word list for cracking the department’s passwords from dictionaries in multiple languages, as well as US government terminology, pop culture references and other publicly available lists of hashed passwords from previous data breaches. (It’s not uncommon for tech companies to also collect lists of stolen passwords in other data breaches to compare with their own customers’ hashed passwords to prevent customers from reusing the same password from other websites.) The watchdog demonstrated that a well-equipped cybercriminal could have cracked the department’s passwords at a similar rate, the report said.

The watchdog found that nearly 5% of all active user account passwords were based on a variation of the word “password” and that the department did not “timely” retire inactive or unused user accounts, leaving at least 6,000 user accounts vulnerable to compromise.

The report also criticized the Home Office for “inconsistent” implementation or enforcement of two-factor authentication, which requires users to enter a code from a device they physically own to prevent attackers from logging in with just a stolen password . The report states that nearly nine out of ten of the department’s high-quality assets, such as B. Systems that would seriously impair operations or compromise the loss of sensitive data were not protected by some form of two-factor security, and the department had a result that flouted 18 years of federal mandates, including its “own internal policies.” When the watchdog asked for a detailed report on the department’s use of two-factor authentication, the department said the information didn’t exist.

“This failure to prioritize a basic security control led to the continued use of one-factor authentication,” the watchdog concluded.

In response, the Interior Department said it agreed with most of the inspector general’s findings and said it was “committed” to implementing the Biden administration’s executive order directing federal agencies to improve their cybersecurity defenses.

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Nancy Tengler, CEO and Chief Investment Officer of Laffer Tengler Investments, joins Yahoo Finance Live to discuss the state of Tesla stock amid its recent troubles, why the earnings season could disappoint investors, and the likelihood of a recession.

video transcript

[AUDIO TONE]

DAVE BRIGGS: Let’s move on to the closure of Wall Street.

[BELL RINGING]

[APPLAUSE]

[GAVEL BANGING]

All right, your closing bell is ringing on Wall Street this Tuesday. And it’s nice to see a lot of green, all green on this board as the Dow is up 187 points, just over half a percent. The S&P also ended up 27 points higher. And the NASDAQ, the big winner of the day, despite what we make of this higher rate environment, usually the most sensitive to these higher rates that the Fed has repeated time and time again, 23 won’t cut, up 106 points. more than 1% winner that day, Seana.

SEANA SMITH: All right. Let’s talk about what this could mean for equities for the rest of the year here. Certainly a strong start, if we want to call it that. We would like to enlist Nancy Tengler, CEO and Chief Investment Officer of Laffer Tengler Investments.

Nancy, it’s great to have you here in the studio. So the start to 2023 was certainly better. Many questions about how the next few months will look like. What’s your big takeaway from the trading action we’ve seen so far, and what does that signal?

NANCY TENGLER: Well, Seana, thank you for inviting me. Yes, I think a few things. You know we got oversold. And we wrote an article at the end of the year where we said we thought investors were too bearish and we started adding some risk back to our portfolios. But I don’t think we’re done.

I think we have to get through earnings season and we’re going to see some disappointments. We will see some volatility I suspect. But I think in the second half of the year or until the end of the year the market isn’t going to go up a lot, but in a normal way, you know, maybe low double digit volatility in the first half of the year. So we have been actively adding different aspects and different sectors to our equity portfolios.

The story goes on

DAVE BRIGGS: Yes, Nancy. Good to see you. David here. Many are calling for 3,000, 3,200 low for the S&P. Do you think the soil is in? And you talked about earnings, what do you expect we’ll learn next Friday when the big banks start reporting?

NANCY TENGLER: Yes. I wish I knew that, Dave. Good to see you. But I think they should benefit from a rising rate environment. We think our favorite bank for 2023 is Goldman Sachs because we think they will – the volatility will help trading returns. We assume that M&A activity will pick up.

Many companies have enormous amounts of cash on their balance sheets, even when interest rates are rising. And there are some really attractive valuations that companies can snap up. So we think, you know, they’re probably going to be a little bit better than expected, and at least that will create a nice bottom under the market that feeds into the rest of the profits.

SEANA SMITH: Nancy, prior to earnings season, you mentioned the fact that you were actively adding. With all the uncertainty ahead, what are you enjoying right now?

NANCY TENGLER: Well, so we just opened a position, Seana, at Tesla. We thought the sell-off had been overdone. We had owned it years ago when Elon was in much bigger trouble than he is now. Remember, he was through SEC. He slept on the factory floor. He podcasted, drank whiskey and smoked a bong with Joe Rogan. And he lost staff in a meaningful way.

We learned, we doubled the stock and got out, leaving a lot of money on the table. I think if you look at the growth, this is a stock you’d want to own three to five years from now, even if demand slows down. Maybe not in the next three months, but this gives us an opportunity to expand our position. So that’s a name on the risk side.

And on the risk-free side, we’re dividends — generally the bulk of our wealth is in dividend growth strategies. So we add names – add names, like Oracle. We add Chubb. So a little bit of non-risk and a little bit of risk, and we balance our portfolios accordingly.

DAVE BRIGGS: And Nancy, the markets continue to go up and down almost every time a Fed official opens his mouth. You listen to the bond market. What does it tell you is around the corner?

NANCY TENGLER: So the bond market is having a big fight with the Fed right now. I think it tells us that the Fed won’t be as aggressive as they say we might actually get a recession. But it won’t be very deep. And my money is in the bond market, because let’s not forget that the dot plots, which were the Fed’s own predictions in December 2021, didn’t even see that we achieved a 3% return on the fed funds rate by 2024.

And so I think we have to keep that in mind. This is a Fed that has been wrong at every major turning point, starting with Chairman Powell’s takeover in 2018. I mean, its first bear market was in 2018, October through early October through Christmas Eve. So I am suspicious that the rhetoric will not match their actions.

Well, I know a lot of people don’t agree with me on that, but I think the bond market is– I mean, I’m in their camp. They are not in mine.

SEANA SMITH: Well, Nancy, that’s interesting because it seems like the markets believe what you’re saying, because every time we get a hint of restraint — not even restraint, that they don’t double down our most restrictive stance in heard in the past few months. We have certainly seen an upswing in the market. So if you don’t think the Fed will be as aggressive as it’s signaling right now, what do you expect at the next meeting? And then you think they’re going to pause?

NANCY TENGLER: Yes, I do. I mean, if you look at that, in Jackson Hole 2020 they became data dependent, which means they’re looking back to shape policy for the quarters and years to come. But when you look at the actual data, the PMIs have shifted. Prices paid, which are highly correlated to CPI, fell off a cliff last month. Shipping costs have gone down. Rents are falling, wheat, corn, raw materials, energy.

So I think they’re going to be faced with the fact that CPI will do better. And if you’re looking at the three-month retrospective annualized number, not the number that’s being quoted, which is a trailing one-year number. But the annualized rate is about 3.3.5% for CPI. That’s below [NO AUDIO] Valuation.

So I think, I think the risk is maybe there’s some ego, legacy involved. I don’t think that’s how we should set Fed policy. But the data would show they’ve done enough, and let’s factor in the lagging effects. So I think 25 you’re starting to hear that. But it doesn’t matter either. We are certainly closer to the end than we were a few months ago.

DAVE BRIGGS: Let the drug work. Nancy, nice to see you. Many Thanks.

NANCY TENGLER: Yes. Thank you David

FRANKLIN, Tennessee — In-N-Out Burger announced Tuesday that it plans to open a corporate office in Tennessee and restaurants in and around Nashville by 2026, marking the company’s first expansion into East Texas.

Gov. Bill Lee joined Lynsi Snyder, owner and president of In-N-Out Burger, and other government and business officials to announce plans to build an office in Franklin, a suburb south of the Nashville metro area.

Construction of the 100,000-square-foot (9,300-square-meter) office building is expected to begin in late 2024 and be completed by 2026. The east area office will support business functions ranging from operations administration to information technology.

Founded in 1948 by Harry and Esther Snyder as California’s first drive-in hamburger stand, In-N-Out is still owned and operated by the Snyder family. Corporate headquarters are in Irvine and Baldwin Park, California and there are currently 385 locations throughout California, Nevada, Arizona, Utah, Texas, Oregon and Colorado.

Lynsi Snyder, granddaughter of Harry and Esther Snyder, hinted that expansion in Tennessee will lead to future restaurant openings in other states as well.

“As we know we’ll be shipping from our warehouse in Texas, we mentioned that we didn’t name anyone — there’s a path there that might cross some other states,” Snyder said. “So don’t worry, there are others that will eventually be included in this plan.”

State economic development officials say the Tennessee project will create 277 jobs in Williamson County, where Franklin is located.

Copyright © 2023 by The Associated Press. All rights reserved.

Canadian mining company Teck Metals has been fined $2.2 million for illegally dumping sewage into the Columbia River, which crosses the United States and Canada.

British Columbia’s Provincial Court released its ruling Tuesday after the company previously pleaded guilty to two counts under the Federal Fisheries Act and one count under the Environmental Management Act, Environment and Climate Change Canada to the provincial government, Canada said in a statement with.
In February 2019, Teck Metals employees reported a spill from the company’s Trail, British Columbia operations.
After an investigation, it was determined that the release of approximately 2.5 million liters of low-pH wastewater into the Columbia River was the result of numerous operational errors
“The company’s lack of due diligence contributed to the duration and scale of the oil spill. In this case, the low pH effluent was caused by an acidic solution leaking from the company’s fertilizer plants in Warfield, BC. Much of the wastewater discharged had a pH below 4, which is harmful or harmful to fish,” the statement said.
In addition to violations of the Fisheries Act, the company pleaded guilty to failing to comply with its permit, which sets acceptable pH levels for discharges and prohibits discharges of acutely lethal effluents.
The $2 million federal penalty will be paid into the Canadian government’s Environmental Damages Fund. In relation to the provincial fees, Teck Metals was ordered to pay a total fine of $200,000.

A U.S. District Judge on Tuesday sentenced Nikhil Wahi to 10 months in prison, completing part of a historic criminal case involving cryptocurrency. Wahi, the brother of a former Coinbase product manager, was charged with conspiracy in July last year in what prosecutors called the “first-ever case of cryptocurrency insider trading.”

“I made a big mistake, a terrible mistake,” Wahi said Tuesday.

Nikhil pleaded guilty to those charges in September, admitting that his brother, Ishan Wahi, used his position at one of the largest crypto exchanges to leak confidential asset listing information. Ishan would notify Nikhil when a coin should be listed on Coinbase. And in response, Nikhil bought up stakes in the cryptocurrencies just before they surfaced on the popular exchange via an anonymous wallet. When coin values ​​inevitably rose following the listing, legitimized by its presence on Coinbase, Nikhil sold the shares at a profit, according to a testimony from the New York Attorney for the Southern States.

“Today’s ruling makes it clear that the cryptocurrency markets are not lawless,” said prosecutor Damian Williams.

In total, according to a Portal report, Nikhil is said to have made $892,500 from his brother’s illegal advice as he traded ahead of 40 separate Coinbase announcements. He was asked to repay this entire sum as part of his conviction – in addition to the 10 months in prison.

“It’s something I’ll have to live with forever,” Nikhil Wahi told sentencing judge Loretta Preska, according to a Bloomberg report. When his sentence expires, he faces deportation to India. Nikhil’s defense attorneys claimed that her client was motivated by a desire to support his parents in India and pay them back for his US college education, Bloomberg reported.

Ishan and a third party, a friend of Nikhil’s named Sameer Ramani, are also facing criminal charges for insider trading. Ishan pleaded not guilty to his charges and was released on bail in July. His case is pending. Ramani, on the other hand, is not in US custody and is believed to be at large.

“Illegal insider trading has real consequences wherever and whenever it occurs,” prosecutor Williams said. But condemnation and condemnation does not make a robust regulatory system. A crypto insider trading scandal even reached the hallowed halls of Congress earlier this year. The House Ethics Committee fined North Carolina Rep. Madison Cawthorn $15,000 for his apparent illegal advanced knowledge of NASCAR’s failed sponsorship of Let’s Go Brandon Coin and his promotion of the memecoin. Cawthorn was not prosecuted. And as always, there are many scams and scams on the blockchain. FTX CEO Sam Bankman-Fried’s fraud trial is set for October.

It was mostly a stroke of luck that the Wahi brothers were caught. Twitter user @cobie noticed a sketchy Ethereum purchase and posted about it. “Found an ETH address that has bought hundreds of thousands of dollars worth of tokens that exclusively appeared in the Coinbase Asset Listing post about 24 hours before it was published,” @cobie tweeted on April 12, according to a report by The Verge . A day later Coinbase’s responded the Chief Security Executive to say that the exchange was investigating. Other tweets have pointed out similar anomalies, although these tweets have not resulted in any arrests.