Major whiplash… Crypto exchange FTX (including FTX US and 130 affiliated companies) filed for bankruptcy Friday after a whirlwind week revealed an $8B balance-sheet hole — and rival Binance bailed on its takeover plan. Oh, and FTX halted customer withdrawals — but that didn’t stop $515M from being moved out of the exchange Friday night in a possible hack. Sam Bankman-Fried, the exchange's now former CEO, had been a Capitol Hill regular lobbying for industry-friendly regs. Now, that regulation's in doubt. Meanwhile, investors fear FTX's "contagion" could spread. One sign that it may have already: BlockFi (which got bailed out by FTX in June) suspended withdrawals, citing FTX's downfall.
Googling “packing hacks”... to avoid the $50 luggage fee. Budget airlines are booming as more travelers turn to no-frill flights to hit the inflated skies. Last week, Irish airline Ryanair reported record passengers and profits for its summer quarter. Meanwhile, US-based Frontier saw sales jump 35% as passengers paid extra for perks (think: bearable legroom). Travel is still hot: even with airfare forecast to be the priciest in five years, half of Americans plan to travel this holiday season.