Options reportedly include selling the entire exchange, including its extensive customer base of over nine million, to potentially forming a partnership with another entity to revive the platform.
sale
The next round of Prime Day deals may look inviting — but read this before adding anything to your cart.
Amazon
AMZN,
is tempting shoppers to open their wallets with a second 2023 Prime Day event — dubbed “Prime Big Deal Days” — running Oct. 10-11. It follows a similar strategy to what the online retail giant tried last year, when it also doubled down on its traditional summertime Prime Day promo with a second, two-day sales event in the fall.
But before you purchase anything this week, stop to consider whether the savings are really as good as they seem. You might want to flip the script on your shopping list, and head into this sale thinking about what NOT to buy right now, instead.
With that in mind, here are several items and product categories that industry insiders and deal-finders say you may want to scroll past during Amazon’s “Prime Big Deal Days” — especially since better deals are probably right around the corner with Black Friday and Cyber Monday.
The new iPhone 15 or Pixel 8, and other smartphones
Shoppers may want to postpone picking up new smartphones — and especially iPhones — during this Amazon event. “Apple
AAPL,
and Google
GOOG,
have recently released the latest versions of their flagship headsets, but Black Friday is when we tend to see the year’s best phone deals,” says Katie Roberts, consumer analyst with DealNews.com. “Walmart
WMT,
is a top store to check around Black Friday for bundles featuring iPhones and hefty gift cards. Last year, in fact, Walmart offered shoppers up to $750 worth of gift cards for buying and trading in select iPhones. The then-latest iPhone 14 lineup was part of the deal, and you could get a $300 Walmart gift card with those devices. Plus, certain iPhone 13 models came with gift cards that were worth up to $500.”
Related: Google Pixel 8 vs the Apple iPhone 15
And: How Google’s Pixel Watch 2 stacks up against the Apple Watch 9 and Samsung Galaxy Watch6
TVs
Amazon will be heavily promoting its own Fire TV products this week, and you might see some good prices there. But Kristin McGrath, shopping expert at BlackFriday.com, a site that collects Black Friday discounts from across the web, urges you to wait until, well, Black Friday. “That’s when all of the retailers pull out all the stops,” she says. “You will have a wider range of deals on a wider range of high-quality and bargain-bin sets during Black Friday sales from all retailers,” not just Amazon.
Roberts from DealNews.com agrees. “Last year, we saw a lot of deals around Black Friday for 65-inch TVs in particular,” she says. “Some of the best deals on 65-inch sets came from Amazon, Best Buy
BBY,
Newegg, and Walmart, so they’re worth checking out come November. Walmart, for instance, was selling a 65-inch TCL 4K Roku TV around Black Friday last year that came in at just $228.”
Clothing and shoes — especially winter clothes
Sure, you can find Prime Day discounts of 20% to 30% on plenty of things to wear, says budgeting guru Andrea Woroch. But “you can get typically get even bigger sales around Black Friday and Cyber Monday, especially from clothing-specific stores that offer exclusive products for major savings,” she says.
McGrath from BlackFriday.com notes that you can score great deals on clothes any time the seasons change — so now, for example, could be a good time to find discounts on fall apparel as retailers make room for cold-weather wear. Avoid winter clothes right now at all costs, however, unless you really need something ASAP. “Winter clothing is just starting to hit the shelves, so it’s at its most expensive,” she says. “If you can let your clothes from last winter stretch one more year, you can save a lot of money,” by shopping for winter clothes in the spring offseason, instead.
So if you are looking for deals on cold-weather gear, such as coats and boots, then wait until after the holidays, Woroch agrees. That’s when retailers are really looking to move inventory on those items, and you can score savings of 60% or more.
Lego Sets
Plenty of Prime Day shoppers will be looking for toys to get ahead on their holiday shopping. Amazon stated in their Prime Big Deal Days preview that shoppers will be able to save up to 30% on Lego during the event, notes Roberts from DealNews.com. But you still may want to wait.
“The deals on Black Friday will very likely beat that discount,” she predicts. “For Black Friday last year, Lego itself and Target
TGT,
both knocked up to 40% off Lego products, so they’re worth checking out around the shopping holiday.”
Furniture
Looking to buy an easy chair to watch all those football games this season? (And maybe catch a glimpse of Taylor Swift in the process?) Prime Day isn’t typically the ideal period to shop for furniture, says Nicole Leinbach, co-founder of the Independent Retailer Conference. “Furniture generally has higher discounts surrounding Labor Day and Memorial Day promotional events,” she says.
Woroch also points to a reality many shoppers choose to ignore — that furniture is often something “better to see and test in person” versus rolling the dice online. And furniture stores will sometimes run 0% financing deals, she notes.
Electronics and small appliances, like robotic vacuums
Unless you’re looking to purchase an Amazon device — as the best Prime Day deals are generally on Amazon’s own electronics, like Kindle e-readers and Echo smart speakers — this is another category to consider skipping until Black Friday. Melissa Cid, a consumer expert with MySavings.com, says, “Black Friday sales have more variety and better prices,” pointing to such popular items as laptops, smartwatches and tablets.
McGrath from BlackFriday.com adds that floor-care and robotic vacuums, in particular, could go either way. “You may see some really good deals, but those could come right back around for Black Friday, so you don’t need to get that now unless you absolutely need to replace it,” she says. “There’s better items to spend time and money on during this second Prime Day sale than thinking, ‘I have to get the Roomba right now, or I’m never gonna get it on sale.’” It will be on sale again.
Videogame consoles, controllers and games
Gamers can score much better deals on gaming consoles, videogame titles and accessories like pro controllers if they wait until Black Friday. “That’s when retailers really rev up those deals, because they know people are trying to get them for the holidays,” says BlackFriday.com’s McGrath. “And that’s when you find really good gaming bundles: buy a console, and get extras like gift cards, controllers and games thrown in with price of that console.”
Plus, now that consoles like Sony’s
SONY,
PlayStation 5 or the Nintendo
NTDOY,
Switch are several years old, they’re not as hard to find as they were over the past few years. “It’s not the case anymore where consoles are massively selling out, so you have to grab it as soon as you see it,” says McGrath.
Cid from MySavings.com agrees. Black Friday has “the lowest prices every year for all of the popular games, including new releases,” she says. “As a mom of two teen boys, I can’t stress this enough.”
More tips for making the most of Prime Day:
Here are some extra, expert hacks to make sure you’re not wasting your time and money — especially with those Amazon “lightning deals” designed to trigger impulse buying.
-
Compare prices across retailers and on price-tracking sites like Camelcamelcamel: “I always price-compare across merchants,” says McGrath from BlackFriday.com, “and even though this is Amazon’s big party, Walmart is throwing a sale on top of it, and Kohl’s
KSS,
+0.21%
and Best Buy are, too.” So you might find a better deal on another site. And then Camelcamelcamel lets you check the price history of Amazon products. “If this is indeed the lowest price a product has ever been offered at …. you can feel more confident picking it up,” McGrath adds. - Factor in the shipping cost and cash-back offers to choose between deals on different sites: Free shipping is standard for Amazon Prime members. “So if I have to pay for shipping, [a deal elsewhere] is usually not worth it unless the price is way lower,” McGrath says. Or, if an Amazon deal is nearly identical to a deal somewhere else, then see whether the other retailer is offering promo codes for 20% off, or perhaps 5% cash back on an item, which may make it a better deal than Amazon.
- Be wary of brands that you’ve never heard of: Even if you can find something on sale, it doesn’t mean it’s from a brand you can trust. Andy Friedland, a former Amazon executive who is now chief revenue officer of Swiftly, a retail-technology provider, says consumers are often drawn to products on Amazon through sponsored ads. But he warns that many of these items come via low-quality brands and manufacturers. And it’s not a good deal if the item itself isn’t any good.
- Hold off on anything you won’t need or use soon. Sure, it’s tempting to buy a cool-looking outfit at a great price. But if it’s a clothing item you’re not planning on wearing until next spring or summer, then you may be getting too far ahead of yourself, says Jen Reed, the influencer and shopping expert behind the popular @TheSisterStudioIG Instagram channel. “I’m planning to stock up on items that I’ll need over the next few months, like holiday gifts, restocks on my favorite products and essentials,” she says.
- Make a list and stick to it. BlackFriday.com’s McGrath says that she spends a day or two before any Prime Day-style event taking inventory of what is missing or needs to be replaced around her home. “Prime Day truly is chaotic, so go in with a list. Add these [needed items] to your Amazon wishlist, or set up alerts on the Amazon app. It saves you a lot of money on impulse buys,” she says. “Then, when you get online on Prime Day, you can see whether the things you want are on sale, quickly compare prices across retailers, and buy them” — if they’re a good deal.
“Go in with a plan, because the lightning deals are designed to get you to fall down a rabbit hole,” she adds.
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Canopy Growth’s stock falls back below $1 after 46 million shares are registered for sale
Shares of Canopy Growth Corp. were cut down Wednesday, back into penny-stock territory, after the Canada-based cannabis company registered roughly 46 million shares for sale to the public.
The U.S.-listed stock CGC CA:WEED tumbled 12.4% in morning trading, putting it on track for the first sub-$1 close since Sept. 8.
In an S-1 filing with…
FTX wants court to allow up to $200M weekly crypto sale, restart ‘hedging’ BTC
FTX has filed a motion in bankruptcy court seeking approval to hire Galaxy Digital Capital Management LP (“Galaxy”) as an investment manager, according to a court filing uploaded to FTX’s claims agent website on Aug. 23.
Galaxy investment manager for FTX.
As the filing outlines, FTX is proposing to engage Galaxy to provide investment management services for certain digital assets owned by FTX.
Under the proposed agreement, Galaxy would manage and trade these assets to liquidate them into fiat currency or stablecoins. Galaxy would also hedge FTX’s exposure to volatile cryptocurrencies like Bitcoin and Ether.
In return, Galaxy would receive a monthly management fee comprised of two components: a hedging fee based on the average net asset value of assets being hedged and a liquidation fee based on the total proceeds from liquidated assets.
According to the court documents, FTX believes hiring an experienced external investment manager like Galaxy is advantageous because Galaxy has the expertise to sell significant cryptocurrency positions without flooding the market. Galaxy can also execute trades confidentially to prevent signaling FTX’s intentions and inadvertently moving prices.
Galaxy would owe FTX a fiduciary duty to act in its best interest when managing the digital assets if approved. FTX’s filing describes Galaxy’s policies and procedures to avoid conflicts of interest in fulfilling this obligation.
FTX contends that hiring Galaxy as proposed is a proper exercise of its business judgment and is seeking court approval under Section 363(b) of the Bankruptcy Code. This provision allows a debtor to use estate property outside of the ordinary course of business after notice and a hearing.
The proposed engagement aims to aid FTX’s restructuring efforts by monetizing its sizeable cryptocurrency holdings.
However, the ultimate decision rests with the bankruptcy court, which must review the motion and determine if retaining Galaxy as an investment manager is in the best interests of FTX and its creditors.
Property sale request.
The FTX debtors filed another motion on Aug. 23, seeking court approval to establish guidelines for managing and selling some of their substantial digital asset holdings, likely related to the Galaxy filing.
According to the court documents, FTX requests authorization to retain an investment adviser to assist with selling certain coins and tokens over time. The proposed guidelines would allow FTX to sell up to $100 million worth of digital assets per week, with the ability to increase the limit to $200 million temporarily.
FTX contends that selling digital assets through an experienced investment manager will help maximize sale proceeds while reducing volatility exposure. The filing also asks the court to approve FTX entering into hedging arrangements on eligible cryptocurrencies like Bitcoin and Ethereum.
Additionally, FTX is seeking permission to stake some idle crypto assets to generate passive yield. The debtors argue these measures represent a sound exercise of business judgment that will benefit creditors by mitigating market risk.
However, FTX’s digital asset sale guidelines and requested authority remain subject to bankruptcy court approval after notice and a hearing.
5 U.S. cities where over half the homes for sale cost over $1 million
Home prices have been on the rise throughout the first half of 2023, often leaving would-be buyers desperate to see more inventory in their price range.
To prospective buyers, it might seem like every other house listed on Zillow has a seven-figure price tag. Depending on where you’re searching, that may actually be the case.
In Los Angeles, San Francisco, San Jose, San Diego and Boston, over half of the homes for sale are listed at over $1 million according to recent analysis by real estate website Point2.
Point2’s report looked at home listings in 30 of the largest U.S. markets among the 100 most populous cities in the U.S., with at least 500,000 people to see which cities have the highest proportions of homes with million-dollar price tags.
Perhaps unsurprisingly, California cities take the top four spots.
10 large U.S. cities with the largest shares of million-dollar home listings
Los Angeles owns the highest share of million-dollar listings with nearly 64% of its homes for sale priced at $1 million or more.
And while more than half of listed homes in the city have a million-dollar asking price, the median price among homes sold in May 2023 was $926,000.
Only two ranked cities boast a median sale price that breaks the million-dollar mark: San Francisco and San Jose, California, whose median homes sold for $1.3 million and $1.2 million respectively.
L.A. has by far the highest share of homes listed at over $5 million, with such “ultra-luxury” properties making up nearly 12% of listings, compared to just 7% of San Francisco and 1% of San Jose listings.
1. Los Angeles
- Percentage of listings above $1 million: 64%
- Percentage of listings above $5 million: 12%
- Median home sale price: $926,000
2. San Francisco
- Percentage of listings above $1 million: 62%
- Percentage of listings above $5 million: 7%
- Median home sale price: $1.3 million
3. San Jose, California
- Percentage of listings above $1 million: 61%
- Percentage of listings above $5 million: 1%
- Median home sale price: $1.2 million
4. San Diego
- Percentage of listings above $1 million: 59%
- Percentage of listings above $5 million: 8%
- Median home sale price: $910,000
5. Boston
- Percentage of listings above $1 million: 53%
- Percentage of listings above $5 million: 9%
- Median home sale price: $799,000
6. New York
- Percentage of listings above $1 million: 41%
- Percentage of listings above $5 million: 7%
- Median home sale price: $740,000
7. Seattle
- Percentage of listings above $1 million: 34%
- Percentage of listings above $5 million: 2%
- Median home sale price: $830,000
8. Denver
- Percentage of listings above $1 million: 27%
- Percentage of listings above $5 million: <1%
- Median home sale price: $576,000
9. Washington, D.C.
- Percentage of listings above $1 million: 26%
- Percentage of listings above $5 million: 2%
- Median home sale price: $660,000
10. Austin, Texas
- Percentage of listings above $1 million: 25%
- Percentage of listings above $5 million: 2%
- Median home sale price: $550,000
Point2 separately ranked mid-sized and small cities.
Three California cities — Glendale, Huntington Beach and Oxnard — topped the mid-size city rankings while the small cities were more spread out geographically.
East Honolulu, Hawaii, Bozeman, Montana and North Bethesda, Maryland, respectively, have the largest shares of million-dollar listings out of the 30 small markets Point2 analyzed.
How much do you need to earn to afford a million-dollar home?
You’d probably have to win the lottery or get a hefty inheritance to pay cash for a million-dollar home. But if you’re looking to go big on your home purchase through the mortgage route, you’ll still need to be bringing home a sizable salary.
Assuming you’re able to put 20% down for a $1 million home purchase, you could be looking at a monthly mortgage payment of just over $5,000 with a 6.5% interest rate according to CNBC Make It’s mortgage calculator.
Based on the standard budgeting guideline that says you shouldn’t spend more than 30% of your income on housing, you’d need to be making around $15,000 a month, or at least $182,000 annually to afford your million-dollar home.
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FTX pauses sale of stake in AI firm Anthropic, once purchased for $500m
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Coinbase CEO’s $1.8 million stock sale raises eyebrows amid SEC lawsuit
Coinbase CEO Brian Armstrong sold $1.8 million worth of company shares on June 5, according to data from Dataroma, before news of the U.S. Securities and Exchange Commission (SEC) lawsuit against the company tanked its shares by more than 15% on June 6.
The SEC alleges Coinbase operated as an unregistered broker, exchange, and clearing agency. The regulator further alleged that its staking program qualifies as an unregistered securities offering. The platform has stated it would defend itself in court.
Roughly 30k shares sold
Armstrong sold 29,730 Coinbase shares in eight transactions on June 5, with the selling prices ranging between $56.70 and $63.79, according to the Dataroma data.
COIN shares dropped by over 15% to less than $50 on June 6. As of press time, it had slightly recovered to $54.90 — down 3.22% from Armstong’s least selling price.

Sales were pre-planned
The timing of these sales leading up to the SEC lawsuit raised concerns among the crypto community that he had prior knowledge of the lawsuit.
Fox Business journalist Eleanor Terrett dismissed these speculations, saying the stock sales were pre-planned since August 2022 in compliance with the SEC’s Rule 10b5-1.
According to Investopedia, company insiders can use Rule 10b5-1 to establish predetermined plans for selling stock, including details like price, quantity, and date. However, the insiders must certify that they are unaware of nonpublic information.
Terrett added:
“Setting a sale to happen on the 1st Monday of the month/start of the 3rd fiscal quarter, I’m told, isn’t too unusual.”
Armstrong’s previous sales
Meanwhile, this recent sale is similar to Armstrong’s previous selloffs. CryptoSlate reported that Armstrong sold 89,196 Coinbase shares for $5.8 million in March. At the time, almost half of these sales were made 24 hours before the U.S. SEC issued a warning to the exchange.
The Coinbase CEO also sold $1.8 million worth of the company’s stocks in April.
However, this sales trend began in November 2022 when Armstrong pledged to sell 2% of his stake at the crypto firm to fund scientific research and development through two startups — NewLimit and Research Hub.
The post Coinbase CEO’s $1.8 million stock sale raises eyebrows amid SEC lawsuit appeared first on CryptoSlate.
FTX argues that releasing ‘valuable’ customer list will harm its sale value
The list of around nine million FTX customers is “extraordinarily valuable” and could harm the crypto exchange’s sale value if released, a member of the FTX restructuring team has argued.
In a court hearing released June 8, Kevin Cofsky, a partner at the investment bank Parella Weinberg on retainer to FTX, said that if competitors were to gain knowledge of FTX’s customers it “would be detrimental” to the exchange’s restructuring efforts.
Cofsky is part of the team aiming to squeeze the maximum amount of value from FTX which could involve a potential sale of the embattled exchange, he said:
“We believe that the existing customer base is extraordinarily valuable and our understanding is based on our research and having looked at the costs incurred by other crypto companies specifically to solicit customers.”
The list of customers is currently under seal, but an objection to the decision was filed by mainstream media outlets, including Bloomberg, the Financial Times, The New York Times, and The Wall Street Journal’s parent firm, Dow Jones & Company.
The media organizations argued the press and public have “a presumptive right of access to bankruptcy filings.”
Related: SEC’s crypto actions surged 183% in 6 months after FTX collapse
According to Cofsky, FTX has begun a “significant” process of soliciting interest from buyers, investors or even a relaunch of the exchange, and the list of customers are “extremely valuable and valued” by those interested in the business.
Based on Cofsky’s discussions with interested bidders: “Existing customers would be extremely valuable to […] third parties interested in investing in the business.”
Also sees value in the list for reorganisation where customers get equity and interest to trade on the exchange.
— FTX 2.0 Coalition (@AFTXcreditor) June 8, 2023
“I think that releasing that information would impair the debtor’s ability to maximize the value that it currently possesses,” he added.
Cofsky believes that even if the exchange isn’t sold or finds investors, a relaunch of the exchange could see creditors collect a portion of the trading fees on what he dubbed a “first-class” and “regulatorily compliant” FTX.
Magazine: Bitcoin is on a collision course with ‘Net Zero’ promises