commodity exchange activities

SINGAPORE—China’s ByteDance Ltd. is offering to buy back shares from its investors, allowing them the chance to cash in after the TikTok owner ruled out plans for an initial public offering.The Beijing-based company will spend up to $3 billion in cash to repurchase shares from existing shareholders at a price of up to $176.94 a share, according to a memo sent to investors and viewed by The Wall Street Journal. The deal would value the company at around $300 billion, which is higher than most of the recent offers in the…

Cheniere Energy Inc.’s finance chief is working toward landing an investment-grade credit rating in the coming year, as the largest U.S. exporter of liquefied natural gas pays down debt and benefits from the run-up in energy prices.Houston-based Cheniere this year amplified its capacity with a new production line completed ahead of schedule, while also managing to raise production at existing facilities, said Zach Davis, the chief financial officer. That…

Brian Armstrong, an early devotee of blockchain technology, built the cryptocurrency exchange Coinbase Global Inc. COIN 3.58% to be big. He hired employees by the hundreds, pushed into new markets and scaled up the number of digital tokens available on the platform. Coinbase became the largest crypto exchange in America and went public in spring 2021 with a market value of nearly $86 billion. This year’s crypto collapse has…

Tesla Inc. TSLA -1.40% said it recorded a $170 million impairment charge against the carrying value of its bitcoin holdings for the first six months of the year. The electric-car maker also logged $64 million in gains from certain sales of its bitcoin holdings, the company said in its 10-Q filing with the Securities and Exchange Commission on Monday. Because accounting rules define digital assets as indefinite-lived…

Tech workers used to asking for the moon are starting to hear an unfamiliar word as startups and giants such as Google and Microsoft MSFT 1.10% get more cautious: No.For much of the pandemic, tech companies big and small went on hiring sprees where would-be employees could name their price and expect rich, work-from-anywhere perks. Now, as fears of a recession loom, more employers are scaling back or freezing hiring, rethinking how many of their positions should be…

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LONDON—Art collectors might be tiring of jaded apes and other digital works, but Adrian Boswell is betting there’s still a strong market for broccoli, whatever else is happening with crypto assets.“You just have to know your audience,” the street artist said, spray-painting another batch of the plaster-cast broccoli heads he hangs up among the boutiques and cafes of London’s hip east end. LONDON—Art collectors might be tiring of jaded apes and other digital works, but Adrian Boswellis betting there’s still a strong…

Crypto was all the rage in 2021. This week, it came crashing down.The tailspin started late Sunday. One of the largest crypto lending platforms, Celsius Network LLC, unexpectedly told customers that it was pausing all withdrawals, swaps and transfers between accounts due to extreme market conditions. Celsius customers panicked, and people with money in other crypto platforms started to wonder if they would be next. The anxiety spread quickly. Prices for bitcoin and ether tumbled about 15% on Monday and…

Corporate technology recruiters say they see a chance to fill vacancies as layoffs and hiring freezes across the technology sector ease an historically tight market for information technology workers.Falling stock prices, a crypto meltdown and fears of recession have prompted layoffs across the tech universe in the past month. On Tuesday, Coinbase Global Inc. said it would cut 1,100 employees from its workforce, a reduction of about 18% in its staff, the latest example of the cool-down. Last…

Traders’ flight from risky investments has halved the price of bitcoin and other cryptocurrencies, wiping out more than $1 trillion worth of digital money since November. Wild swings are fairly common with cryptocurrencies, but even seasoned investors were left reeling as bitcoin dropped 29% over a seven-day losing streak that just ended as a stablecoin—one part of the crypto world that touted its stability—unexpectedly crashed. Investors are staring at an…