FTX Bankruptcy, Student Debt Ruling, and Mispronounced Foods

Facts, without motives. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

No images? Click here

In partnership with

Good morning. It's Saturday, Nov. 12, and in this weekend edition, we're covering the collapse of one of the largest cryptocurrency exchanges, a court ruling halting new student loan forgiveness applications, and much more. First time reading? Sign up here.

You share. We listen. As always, send us feedback at hello@join1440.com.

One Big Headline

FTX Bankruptcy

Cryptocurrency exchange FTX, once valued at $32B, filed for Chapter 11 bankruptcy yesterday as 30-year-old CEO and founder Sam Bankman-Fried, once a billionaire, resigned. The news caps off a tumultuous week for FTX, in which cryptocurrency trading giant Binance signed a letter of intent to acquire the rival amid a liquidity crisis, only to back out 24 hours later. See FTX's statement here and Bankman-Fried's statement here (via Twitter).

John J. Ray III has been appointed the new chief executive of FTX Group. Ray oversaw the liquidation of energy-trading company Enron Corp. after it filed for bankruptcy in late 2001. The FTX bankruptcy proceedings include FTX US, FTX’s cryptocurrency hedge fund Alameda Research, and about 130 other related companies. FTX and its affiliates estimate their assets and liabilities are each between $10B and $50B, making the company's collapse the largest crypto-related bankruptcy ever filed.

FTX was cofounded in 2019 by Bankman-Fried and Gary Wang. Read about its rise and fall here. See how a bankruptcy affects investors here.

Quick Hits

Ukraine enters Kherson as Russia completes withdrawal.

Ukrainian forces reclaimed the southern port city of Kherson, an access point to the Black Sea and the country’s only regional capital city held by Russian forces. Observers see the victory as a springboard for further Ukrainian advances into occupied territory.

Education Department suspends student debt relief applications.

The Biden administration has stopped accepting new student loan forgiveness applications after a federal judge in Texas blocked the debt relief program. The judge found the program breached Congress’ power to make laws. The Justice Department has appealed the decision.

Underwater 7.3-magnitude earthquake strikes off Tonga.

The earthquake, centered 132 miles east-southeast of Neiafu, Tonga, at a depth of 15 miles, prompted a temporary tsunami warning. Seismic activity is common around the Polynesian nation, a country of 100,000 people spread across 45 of 171 islands.

UK economy shrank 0.2% in the third quarter.

The contraction in Britain's gross domestic product from July to September was attributed to a decline in manufacturing output and an extra holiday to mark Queen Elizabeth II's death. The news comes after the Bank of England warned last week the UK may be headed for its longest recession.

Gallagher, comedian known for smashing watermelons, dies.

Leo Anthony Gallagher Jr. died at age 76 from organ failure while in hospice care in California. He suffered multiple heart attacks in recent years. The comedian rose to fame from his signature sketch, "Sledge-O-Matic," where he would smash food onstage and end with his main act, the watermelon.

Kevin Conroy, longtime voice of animated Batman, dies.

The voice actor died at age 66 from a battle with cancer, Warner Bros. announced Friday. Conroy voiced the acclaimed "Batman: The Animated Series" from 1992-96 and went on to voice the DC character in nearly 60 different productions.

In partnership with Beam

Your Best Sleep Yet

This winter, Beam is bringing back their most popular flavor by popular demand. That's right, White Chocolate Peppermint Dream Powder is back.

Dream Powder isn't just any hot cocoa—it's a delicious, smooth nighttime beverage full of ingredients designed to make you fall asleep faster and stay asleep longer. With five natural sleep-promoting ingredients (CBD, reishi, magnesium, L-theanine, and melatonin), zero added sugar, and only 15 calories, it's got what you need to sip a half-hour before bed, then drift off into your deepest night's sleep. But don't just take our word for it: A recent clinical study revealed Dream helped 93% of users wake up feeling more refreshed, and 93% reported that Dream helped them get a more restful night's sleep.

White Chocolate Peppermint Dream won't be around for long, and it's paired with Beam's biggest sale of the year. Check out the guilt-free, sleep-inducing hot coca of your dreams and take up to 50% off sitewide with code CYBER (discount applied at checkout).

Please support our sponsors!

Humankind

America's Top Young Scientist creates headphones to treat ear infections. (More)

Four-year-old girl celebrates the end of her chemotherapy treatment. (More)

Football player hands homecoming crown to a more deserving student. (More)

School children greet a man with Alzheimer's outside his home every day. (More)

Watch a little boy at an adoption hearing profess his love for his new mom. (More)

Baltimore Ravens' Lamar Jackson makes a young fan's day. (More)

From our partners: The INKEY List is having their biggest sale of the year—25% off sitewide. Take your skincare routine to the next level with this Allure Best of Beauty skincare brand’s bestsellers. Their top 5 award-winning products will keep your skin healthy, hydrated, and glowing. Shop the bestsellers bundle for 25% off while it lasts!

Humankind(ness)

Today, we're sharing a story from reader Joanne M. in Ferguson, Missouri.

"Some years ago, I had a difficult surgery that left me with a permanent limp. As a result, I use a walking stick to help my posture. So often, as I am approaching a doorway, I am delighted by the kindness of strangers (of all ages) who rush to open the door for me. It's a simple thing, but each time it happens, I am filled with gratitude and it brightens my day. It's also an opportunity for two complete strangers to smile at each other and exchange a few words."

What act(s) of kindness did you experience this week? Tell us here.

Help share 1440

Don’t keep us a secret: We reach more than 2 million inboxes with fact-focused news because our readers spread the word to their community. Help us grow:

•	Share the email with friends.
•	Subscribe to our ad-free newsletter.
•	Earn cool stuff through our referral program.

Etcetera

Bookkeeping
> Rare pear shaped 18-carat pink diamond reaps $28.8M at Geneva auction.

Browse

> The most commonly mispronounced foods and drinks.

> Visualizing the past and future of architecture—via drones.

> ... and this year's remarkable architecture photography.

> Gorgeous night skies above Jordan.

> The fish that eats its own young.

Listen

> Guts: What can the rumblings deep in our bellies tell us about ourselves?

Watch

> Will there be another pandemic in your lifetime?

> The world's most dangerous dam.
> Why don't we shoot nuclear waste into space?

> When you have to work under supervision. (via Reddit)

Long Read

> The unnatural evolution of the Galápagos Islands.

> Pancakes, shakes, and KFC: When Charles Barkley tried to eat his way out of the Philadelphia 76ers.

Best of the Week: Spectacular shots of the Blood Moon eclipse.

Historybook: American suffragist and civil rights activist Elizabeth Cady Stanton born (1815); Josef Stalin gains undisputed control of the Soviet Union (1927); Actress and Princess of Monaco Grace Kelly born (1929); Actress Anne Hathaway born (1982); Comic book writer Stan Lee dies (2018).

"Truth is the only safe ground to stand upon."

- Elizabeth Cady Stanton

Why 1440? The printing press was invented around the year 1440, spreading knowledge to the masses and changing the course of history. More facts: In every day, there are 1,440 minutes. We’re here to make each one count.

Send us your feedback at hello@join1440.com and help us stay unbiased as humanly possible. We’re ready to listen.

Interested in reaching smart readers like you? To become a 1440 partner, apply here.

1440 Media 222 W Merchandise Mart Plaza, Suite 1212 Chicago, IL 60654

Unsubscribe from this email.

student debt relief applications John J Ray III The FTX bankruptcy proceedings Student Debt Ruling new chief executive The Biden administration ONE BIG HEADLINE southern port city regional capital city cryptocurrency trading giant cryptocurrency hedge fund largest cryptorelated bankruptcy founder Sam BankmanFried

FTX Bankruptcy, Student Debt Ruling, and Mispronounced Foods

No images? Click here

Key phrases

Older messages

Inflation Slows, Veterans Day, and a Giant Shark Surprise

Twitter Cuts, Powerball Record, and America's Happiest Places

Netanyahu Wins, King Tut, and the Kidnapping of Patty Hearst

Rate Hikes, Tigray Truce, and the AI Conundrum

Seoul Fallout, TikTok Scrutiny, and the Word of the Year

You Might Also Like

What A Day: A-drone again (naturally)

The Idea of Presidential Immunity Is Not As Ridiculous As You’ve Heard

I Found a Sample Sale at Staud

An Exclusive Interview With Wemby

On the Shoulders of Giants

Seattle startup vet leads the new ‘Homebrew Computer Club’ for AI

Dove's New Campaign, Stunning Interactives and the Two Kinds of Attention

Why so many publishers have failed at copying Wirecutter

A nearly perfect pan

☕ Four plenty