Financial News

The White House has yet again extended the federal student loan payment pause as it battles lawsuits threatening to derail its sweeping student debt forgiveness plan. Students may be off the hook for payments until summer 2023. But if the Supreme Court decides the fate of Biden’s plan to cancel up to $20,000 in student debt per borrower before June 30, forbearance could end sooner.

FTX, a major cryptocurrency exchange, and FTX.US, its U.S. branch, filed for Chapter 11 bankruptcy this month. The companies also faced an apparent hack that drained more than $600 million from user wallets later the same day. The impact of FTX’s crash is having wide-reaching implications throughout the crypto market.