FTX will pay back 98% of creditors at least 118% of what they're owed, its bankruptcy lawyers said.
FTX forecasts between $14.5 and $16.3 billion available for distribution.
But payments will be based on crypto values in 2022, not what its worth now as the prices surge.
FTX will pay back all of its creditors — with interest — lawyers for the defunct crypto exchange vowed Wednesday in a plan to take it out of Chapter 11 bankruptcy.
98% of FTX's creditors — who are owed $50,000 or less — will receive at least 118% of their money back within 60 days, according to the plan, which must first be approved by a bankruptcy court.
FTX predicts it will have between $14.5 and $16.3 billion available for distribution — mostly from previous Alameda and FTX Ventures investments, bankruptcy lawyers said.
In March, for instance, FTX's bankruptcy estate sold a majority of its shares in AI startup Anthropic for $884 million — after paying $500 million for the stake back in 2021.
But there's a brutal catch to the paybacks.
Business Insider's Jacob Shamsian previously noted FTX customers will be repaid based on what their cryptocurrency holdings were valued in November 2022, which is when the company went under — not what the crypto would be worth today.
Bloomberg reported in January that more than 80 people have filed letters over the plan, complaining that they're missing out on bitcoin's skyrocketing value.
FTX founder Sam Bankman-fried was arrested in January 2023 and convicted last fall of fraud, conspiracy, and money laundering.
The jury was not allowed to consider any bankruptcy activities in rendering its verdict — though the judge factored into his sentencing that FTX lawyers said victims would recover their losses.
The US economy is showing resilience, but experts warn a recession is still on the table.
Robert Alexander / Getty
April saw the highest number of corporate bankruptcies in a year, S&P Global said.
Eroding bets of an interest rate cut contribute to this, as burdened business throw in the towel.
Inflationary data prints in April coincided with a jump in junk-rated yields.
Corporate bankruptcies increased in recent months amid teetering confidence in a quick interest rate pivot.
According to S&P Global, April marked the highest number of bankruptcies in a year, with 66 filings. That's an 88% increase from January's 35 filings.
Contributing to the increase were challenged expectations that the Federal Reserve could slash the fed fund rates, which has stood at 5.25%-5.50% since last July. Though 2024 opened with high hopes that easing would start as soon as March, strong economic and inflationary data has since pushed outlooks to as far as December.
For many corporations burdened by high rates, that has meant throwing in the towel, S&P suggested. After all, hawkish policy has been the central headwind for eroding balance sheets last year, and businesses have hinged their survival on lower borrowing costs.
By one measure, rising costs did slow when a rate cut looked likely in early 2024. Effective yields on junk-rated corporate debt hit as low as 7.40% in March, according to the ICE BofA US High Yield Index.
The three sectors leading in bankruptcies that month were consumer discretionary, healthcare, and industrials, S&P Global said.
While April's stagflation scare has subsided following a weaker-than-expected jobs report, Fed officials continue to signal that lower inflation prints are still necessary before an interest rate cut can occur.
But analysts have warned that the longer monetary policy remains unchanged, the greater the risk of something breaking in the economy.
"Now that we're back to an environment where we're losing those embedded rate cuts, we actually have to increase the chance of something bad happening here," Frances Donald, Manulife Investment Management's chief economist, said in April.
Alex is a Canadian OnlyFans creator with 1,000 subscribers.
Harriet Beth.
OnlyFans has boomed in the last three years, particularly for adult-content creators.
The subscription platform has become a lucrative way for many influencers to earn money.
Here's how to make money OnlyFans in seven ways, from subscriptions to direct messages.
OnlyFans has become a lucrative way for many influencers, particularly adult-content creators, to make money.
The top ways to make money on OnlyFans include subscriptions, direct messaging, tips, pay-per-view content, and more. Some OnlyFans creators have even built their own coaching businesses. The incomes generated by OnlyFans stars can be very high, with some earning millions of dollars per year.
OnlyFans creator Bryce Adams, for instance, made $6.4 million in one year and close to $9 million in another, she told Insider. She uses three profiles to cater to different kinds of customers.
Here are the top seven ways to make money on OnlyFans:
1. Subscriptions
The most basic way for creators to monetize is through subscriptions. In order to unlock content, like pictures and videos, users must pay a monthly or annual fee. The creator takes home 80% of that revenue, while the company gets the other 20%.
How much to charge for subscriptions is up to the creator, and can be a challenging number to determine.
Morgan Edwards, an OnlyFans star known as "Kitty K," said she was "in the dark" when deciding how to price subscriptions to her content when she was a beginner. Devising a strategy takes some knowledge of the industry.
On their feeds, creators have the option to put additional content behind a paywall, which the users can purchase at an extra cost — usually photos or videos.
3. Direct messaging
Another way to make money on the platform — for many the most profitable way — is direct messaging with fans who pay a per-message fee or flat fee, and creating custom content. Audrey Aura, a creator with 3,000 subscribers, turned private messaging into her biggest income stream.
Some creators have found ways to maintain anonymity by publishing content without showing their face except in private messages. Farrah, who goes by @nofacemom on the platform, charges between $100 and $200 for content in messages where she shows her face. Many OnlyFans creators also remain anonymous by using pseudonyms when posting on the platform.
While direct messaging can be a top source of income for OnlyFans creators, it can be time-consuming, and some spend a large portion of their day answering fans. This is the case for Liensue, a cosplay creator. She told Insider she spends two to four hours a day chatting with her subscribers.
Subscribers to an OnlyFans page also have the option to send cash to creators in the form of a tip. For example, Amber Sweetheart, whose OnlyFans business is based on her personal connection with her fans, says she has subscribers who come back daily to interact with her and send her tips.
Some OnlyFans stars even create menus with suggested tips for custom content and direct messages. Charlotte Lavish said her tip menu has helped her make more money from her free OnlyFans page because her fans message and tip her most there.
OnlyFans creator Morgan Edwards, known online as "Kitty K."
Morgan Edwards
5. Promo 'shoutouts'
Many OnlyFans creators rely on various marketing tactics to get new customers, like buying and selling "shoutouts" from each other to advertise on OnlyFans and on other social-media platforms.
The business of cross-promotion can take different forms. After being employed by superstar OnlyFans model Bryce Adams, creator Rayna Rose started her own OnlyFans account and struck a deal with Adams. Adams advertises Rose's content on her social-media profiles, and Rose gives her a percentage of her earnings.
Some OnlyFans creators are also establishing private coaching businesses and course programs as another way to make money. Aura, for example, started an OnlyFans course after she started receiving an uptick in requests for advice on how to succeed on the platform.
Creators can build a deeper connection with their fans by livestreaming themselves on OnlyFans. Livestreams can be free for subscribers, or be accessible for an additional fee.
Steph Mi, for example, regularly goes live on the platform, normally for about two hours. She keeps the first hour public and switches to a private, pay-per-view version during the second hour.
Bryce Adams, on the other hand, has slowly been incorporating more livestreaming into her content offering. She's tried out different formats, and one of the most successful has been the "marathon" livestream — a show that can last up to eight consecutive hours.
It's not all bad news for electric vehicles these days, but it can seem like it.
Automakers aren't likely to walk away from multi-billion dollar investments.
There are shoppers who want EVs, they just can't afford them.
The electric vehicle market is going through its biggest change yet, and it's not pretty.
The rate of EV sales has been slowing for about a year, major automakers have pulled back on their previously lofty EV goals, and even electric car-giant Tesla is faltering.
High-end vehicles that companies have spent years developing are hitting the market after their target buyers have already gone electric. Meanwhile, a newer crop of EV-curious shoppers can't find a car in their price range and are opting for hybrids instead.
In the once-thriving EV startup market, valuations of previous Wall Street darlings like Rivian have crashed back to earth while others, like Fisker, are at risk of going belly-up.
Demand for electric vehicles hasn't dried up completely
Demand for expensive EVs has softened significantly, but an opening exists in the affordable market.
A new generation of electric car shoppers are looking for different options than their early-adopting counterparts. These shoppers, who are less interested in Tesla, are more frugal and practical, and more likely to be considering replacing their gas-powered car with an EV rather than adding an EV to their fleet.
These shoppers are discovering that there's not much made for them in the way of EVs right now, which has led to an uptick in demand for hybrid vehicles instead.
The result is a slowing in the rapid rate of growth the EV segment has seen in the last few years – not a reversal. Overall sales of electric vehicles are still on the rise, it's just slower going. EVs accounted for 8.9% of retail sales in April, according to JD Power, up from a first-quarter average of 8.3%.
Legacy car companies aren't going to give up on EVs
It's just not that simple. Essentially every major automotive company at this point has built its future around selling more electric vehicles. This has required billions of dollars in investment that executives are not going to just walk away from overnight.
On top of that, car companies will still have to meet increasingly stringent emission standards in the US and globally over the next several years, and EVs are crucial to meeting those standards.
What we're seeing instead is a sobering up of sorts after several years of hype. Companies, egged on by investors, spent the last several years promising a battery-powered future was right around the corner. As these ambitions have met with reality, however, plans have changed.
Hybrid sales are good for EV sales
While hybrid sales can take away from EVs in the short term, industry experts have actually said that hybrids are a good bridge technology for future EV adopters.
But that didn't stop Tesla CEO Elon Musk from blaming hybrids in part for some of his company's poor first quarter results last month.
It's true that as EV growth has slowed, interest in hybrids is on the rise. These cars, which come in plug-in varieties or with hybrid engines that don't need to be hooked up to a charger, are more appealing to the current green-car shopper.
The real divide here is not between hybrids and EVs, but between legacy car companies and EV-only startups. Companies like Ford and GM can keep a shopper in the brand if they opt for a hybrid over an EV, while Tesla or Rivian loses a hybrid buyer altogether.
A size large contained 390 mg of caffeine — the same as about 4 cups of coffee.
But it was a fun treat in an otherwise dangerous world. I'll miss it.
Panera Bread is finally getting rid of its "charged lemonade" — another chip away at our freedom.
In a world with few acceptable vices left — and a lot to worry about — Panera's "Charged Sips" were a bright spot.
Smoking, of course, is out, and vaping is for degenerate teens. Zyn might be acceptable in the field of stimulants you can do at the office, but I'm concerned about gum health. Moderate drinking, long the most socially acceptable pleasure, is even out, as more and more people are following the (sadly, probably true) advice of wellness podcasters that any amount of alcohol is unhealthy for you.
I'd only had a Charged Sip — its official name — one time: a size large Strawberry Mint Charged Lemonade. It was delicious! I don't usually drink sweet drinks, but it hit just right. And yes, I felt moderately energized, but nothing more than how I feel on coffee. I was disappointed. I wanted to feel something. I wanted to feel the jitters and the sweats. I wanted the lemonade to mess me up.
As for Panera, I guess this was the wise move if you're a suburban lunch chain and one of your products becomes an internet meme that some have dubbed, fairly or not, "death lemonade," and you're facing multiple lawsuits. (Panera has said those are without merit.)
Bloomberg reported that over the next two weeks, the Charged Sips line will be discontinued in favor of a new low-caffeine, low-sugar line of lavender blueberry lemonade, pomegranate hibiscus tea, and two others.
But, for those who can handle the caffeine, what could be more freeing, refreshing, and exciting than guzzling down some forbidden Mango Yuzo Citrus Charged Lemonade? To release your inhibitions, feel the rain on your skin. Nothing else can do this for you, only you can chug it in.
So, farewell, Charged Sips. You were too beautiful an idea ("What if someone got zooted on caffeine while eating soup from a bread bowl?") for this world. I find comfort knowing you'll be reunited with your family — Sparks, Four Loko, and Jolt soda — in that big plastic cup in the sky.
The Department of Justice is investigating potential securities or wire fraud by Tesla, Reuters reported.
The probe reportedly centers on Tesla's promotion of its driver assist software.
Tesla has faced scrutiny for its driver-assist software over the years.
The Department of Justice is looking into potential securities or wire fraud connected with Tesla's efforts to promote its driver assist software, according to a report by Reuters that cited unnamed sources.
In 2022, the news agency first reported that the DoJ had launched a criminal probe into Tesla and its self-driving claims, but further details regarding the scope of the investigation were previously unknown.
The DoJ declined to comment, and Tesla did not immediately respond to a request for comment.
CEO Elon Musk has been promising for years that Tesla will put fully autonomous cars on the road and has repeatedly said the software will one day be able to perform better than a human driver.
The carmaker has faced scrutiny from a number of regulators over the years regarding its Autopilot and Full Self-Driving beta software.
In December, Tesla issued a recall via an over-the-air update to about two million vehicles after the National Highway Traffic Safety Administration found that Autopilot didn't have enough stop gaps to prevent drivers from misusing the software, following a two-year investigation into the feature.
On Tuesday, Reuters reported that the agency had asked Tesla for more detailed answers and documents related to the recall.
All current Tesla models come with the carmaker's Autopilot driver-assist program. Owners can also buy the company's Full Self-Driving beta feature for $8,000.
The beta feature enables the vehicle to automatically change lanes, enter and exit highways, recognize stop signs and traffic lights, and park. Both programs still require a licensed driver to monitor the system at all times.
Do you work for Tesla or have a tip? Reach out to the reporter via a non-work email and device at gkay@businessinsider.com
A shopper looking at displayed food at a supermarket ahead of the Thanksgiving holiday in Chicago on November 22, 2022.
JIM VONDRUSKA/Reuters
Businesses are adding $90 billion in fees to consumer's bills each year, according to one estimate.
US consumers spend more than $650 a year per household on "junk fees," per the CEA.
Some are fighting back by choosing businesses that give upfront prices to reduce their spending.
Businesses are adding $90 billion in surprise "junk fees" to customers' bills each year — and it is starting to backfire.
Junk fees are hidden costs that are added to product prices. We see them on everything from restaurant menus to concert tickets and flight booking sites.
And according to estimates by the White House Council of Economic Advisers, Americans are spending more than $90 billion a year— more than $650 per household — on junk fees, including live event tickets, internet and cable fees, apartment rentals, banking fees, and more.
These are often added at the end of a purchase, making it tougher for consumers to compare shops for the best offer, resulting in them spending up to 20% more, according to a working paper by the National Bureau of Economic Research.
Some are now taking matters into their own hands, by choosing businesses that give them upfront prices.
Noelle Weaver and Bradley Walker told The Wall Street Journal they adopted this approach with hotels and rental cars after seeing the cost of a four-night stay in a New Orleans hotel rise from what they thought would be $719 to nearly $1,100, with the hotel charging $235 in taxes and fees, and $50 for early check-in.
"I just want to know what it's going to cost instead of feeling the bitterness of getting upcharged at every turn," Walker told the outlet.
Merrilee Bridgeman told the Journal she experienced the same issue in a local salon in Charlotte, North Carolina, where she was forced to pay an extra $5 hair-washing fee on top of her daughter's $40 cuts and her $100 haircut.
"It just felt off-brand and adds to the fatigue that we already feel about having to watch so carefully when we're ordering and checking out," she told the newspaper.
Last June, President Joe Biden said his administration had taken steps to crack down on junk fees. He said it did this in part by reducing overdrafts by $5.5 billion a year, and bounced-check costs by $2 billion a year.
In April, a Democratic member of Congress introduced the Junk Fee Prevention Act to try to limit and eliminate excessive, hidden, and unnecessary fees.
I started looking for a new career after decades in corporate America.
Jacob Lund/Shutterstock
After 23 years in corporate America, I decided I needed a career change and signed up for a course.
Throughout the program, I learned how important it was to build a network and test out new things.
After eight months, I was finally able to confidently start doing more fulfilling work.
Career change, shift, pivot. Whatever you call it, after 23 years in corporate America, I wanted out.
I didn't know what I wanted to do next, but I was sure it wasn't what I was doing now.
Luckily, the US job market is more stable now than it's been since before 2020. But changing careers is more than finding a new boss or moving to a different company.
During one marathon search session, I stumbled upon Careershifters and paid $1,175 for its eight-week Career Change Launch Pad course.
Now that I've successfully pivoted, here are the best tips I took away from the course.
Step back and assess where you're at
We started the course by taking a quiz that was supposed to help us determine what stage of the pivoting process we were in (questioner, browser, explorer, pathfinder, and shifter).
These kinds of assessments can sometimes feel gimmicky, but it was helpful to zoom out a bit and reflect on where I was at.
I was labeled an "explorer" when I took the career-change assessment.
Trisha Daab
The categories stretched from questioner (wondering whether you need to make a change) to shifter (successfully finding more fulfilling work), and the assessment told me I was an explorer (ready to change but not sure what to do).
Look for people, not jobs
Building my network was exponentially more helpful than skimming through endless job descriptions.
I recommend talking to everyone about your shift — family, friends, former colleagues, yoga teachers, LinkedIn connections. You never know what or who they know.
I met a McDonald's Happy Meal toy designer through a former boss, and my chiropractor connected me with a lifestyle magazine.
Don't try to do everything alone
I met with several fellow career shifters throughout my process.
Trisha Daab
Surrounding myself with a community of other people going through a career change made all the difference in my process.
My program included coaches who had changed careers and about 65 fellow participants from around the world — including a programmer in the UK, a writer in Greece, and an accountant in Brooklyn.
They all understood what it was like to feel stuck and overwhelmed, and we shared ideas, work experiences, and networks.
Even if you don't want to do a course, there are career-change coaches, podcasts, books, and so many other resources out there to help.
Career shifts don't happen overnight
We're asked what we want to be when we grow up all the time as kids, but I hadn't had the opportunity to explore that question as an adult.
Deciding to pivot allowed me to take the time to discover more about myself, explore my options, and experiment with different possibilities.
Changing careers is a process — don't rush it. I was eight months into my career shift before I felt confident about what I wanted.
Don't start with updating your résumé
A résumé is all about where you've been. But a career shift is about what you want in the future.
Instead of rushing to update résumés or spruce up my portfolio, I tried to trust the process and focus on figuring out what I wanted.
I did an exercise where I created an ideas bank of 100 things that inspire me.
Trisha Daab
My career experience up to that point had been something like, "You're perfect. You're hired. Now change."
But after a career-shift coach told me she gets paid to be herself, that became my new mission.
Physically try new things that get you out of your head
It's going to be really hard to find fulfilling work if you're just sitting behind your desk all day looking for opportunities online.
Instead of endlessly searching job boards, I did an informational interview with an author, ran promotions for a high-school musical, and went behind the scenes at a local bakery.
Even if I wasn't necessarily interested in those fields, physically getting myself out there and trying new things helped me along in my process.
Expand your reality bubble
Everyone has what I like to call a "reality bubble," and they're full of different ideas, perspectives, people, and experiences.
Simply expanding that bubble a little bit opened my mind to new possibilities for my career shift.
When I pushed myself to have new and different conversations, I met a gift concierge who helped me identify small businesses that needed marketing help and a Disney travel planner who ended up being my first client when I started working as a career-change consultant.
Take your ideas for a low-risk test drive
One of my experiments was attending a floating sound-bath workshop.
Trisha Daab
Attending workshops and testing things out with friends are great, low-risk ways to experiment with different career possibilities.
I did pro-bono marketing for a doggie day care, took an hourlong course on book publishing, and designed a line of 1980s-themed scented markers — along with 25 other short-lived experiments.
Through all these different experiences, I figured out what gives me energy, what I could get good at, and what I might actually be able to get paid for.
Holding one salaried job isn't the only way to work
When I started this process, I knew I didn't want to do one thing in one place with one company anymore.
Just because having a single source of income is the norm doesn't mean that's where you have to wind up. Eventually, I was able to create a hodgepodged career that met my goal of feeling like I was getting paid to be myself.
Now I work with a variety of people and companies as a freelance writer, career-change consultant, and small-business marketing strategist.
Add a colorful duvet and a fun selection of throw pillows to liven up your room.
Replace your nightstand lamp with a wall sconce to reduce clutter while maintaining light.
Find a nightstand with drawers and hidden storage to reduce clutter.
Nightstands can often accumulate clutter.
New Africa/Shutterstock
Sarah Barnard, interior designer and founder of Sarah Barnard Design, told Business Insider that nightstands can quickly accumulate a variety of odds and ends, creating visual clutter.
"Opting for a nightstand with drawers or covered storage keeps items close at hand while maintaining visual calm," Barnard explained.
She added this type of nightstand can also offer privacy for your items. Plus lined or compartmentalized interiors can help reduce the noise of opening or closing drawers.
Update the rugs in your space to give it a fresh feel.
"Changing out your rug is an easy and affordable way to give your bedroom a fresh, new look," Rohr said.
If you have carpet throughout the room, you can still incorporate rugs by layering them on top, the designer suggested. This creates an inviting and cozy space that's perfect for relaxing at the end of a long day.
Add a beautiful piece of art to your wall in place of a television.
Choose a piece of art you love.
Ground Picture/Shutterstock
After a long day, your bedroom should be the place where you can finally shut off for the night, so Barnard suggested replacing your TV with a soothing work of art.
"Our bodies take cues from our surroundings, and if the first thing we see when getting into bed is a television screen, we are more inclined to watch TV before bed, which may disrupt our sleep," Barnard explained.
The designer added that art in the bedroom may help ease the mind and encourage quiet reflection.
Replace empty corners with plants to give the space color and life.
Greenery can brighten a space.
Irina Lev/Shutterstock
"Dead corners" are empty areas of a room where the furniture doesn't quite fit or the light doesn't quite reach. As a result, these spots can often feel lifeless and uninviting.
Rohr suggested bringing life into your bedroom by using these empty corners for greenery. Plants can help brighten up a space and add a touch of nature.
Switch out conventional pillows for decorative ones.
Select pillows of different shapes and sizes.
New Africa/Shutterstock
To add more visual interest and make the space feel cozier, Rohr suggested layering the bed with a variety of pillows instead of a set of standard ones.
"The different shapes, colors, and patterns will immediately make your bed look much more interesting," Rohr told BI. "This not only adds pops of color and texture but also helps to create an overall sense of comfort and coziness."
By adding layers to the bed, Rohr said, you'll make your entire room feel like a cozy nook for relaxing and unwinding.
Swap out your table lamp for a wall sconce to reduce clutter.
Wall sconces can be sleek.
Ekachai Sathittaweechai/Shutterstock
As mentioned earlier, it's easy to accumulate clutter on your nightstand.
To avoid this, you can swap the table lamp for a wall sconce, said Jaime Zehner, interior designer and founder of JZ Interior Designs.
Doing so can both add light and open more space on your nightstand.
Wall sconces do require some electrical work to install, but Zehner said it's well worth it since they're such a great use of space.
Fresh flowers and herbs can create natural aromas in place of candles.
Eucalyptus, mint, lavender, thyme, and jasmine are all good choices.
New Africa/Shutterstock
Instead of relying on candles for a relaxing fragrance, Barnard recommended placing bouquets of fresh, fragrant herbs and flowers in your bedroom.
Some great options include eucalyptus, mint, lavender, thyme, and jasmine.
Swap out a plain duvet for something colorful or patterned.
Duvets are a versatile way to liven your space.
New Africa/Shutterstock
New bedding is also a great way to bring fresh energy and excitement to the room.
"Whether you opt for soft, fluffy pillows or bright, rich sheets, new bedding can instantly transform the look and feel of your bedroom," Rohr said.
Adding a pop of color or pattern can also make the space instantly seem more inviting.
Choose a stunning wallpaper to go over plain walls.
Wallpaper can make a statement.
robinimages2013/Shutterstock
Zehner told BI you can give your bedroom more pizazz without adding furniture by applying wallpaper to subtly-painted walls.
"I suggest something in a small pattern so it isn't too distracting," the designer said. "This adds so much charm to the room, and when done right, it allows for the fundamental pieces of the room to stand out."
Peel-and-stick wallpaper is an easy, renter-friendly way to achieve this look.
Swap out your closet interior for a more personalized option.
You can optimize storage in your closet.
Kostikova Natalia/Shutterstock
To quell disorganization and clutter, Barnard suggested replacing your closet interior with a more personalized option that meets your specific needs.
"Having specific storage areas for clothing items and accessories can keep things compartmentalized, especially when best suited for the items in your closet," Barnard explained.
For example, it may make sense for someone with an extensive shoe collection to repurpose some of their hanging space for vertical shoe storage.
Give life to your bedroom with new curtains.
You can opt for colorful or patterned curtains.
Edvard Nalbantjan/Shutterstock
New curtains give the room an instant update by adding visual interest and changing the style of the space.
"The curtains you choose can set the tone for your entire space," Rohr told BI. "So finding a pair that reflects your style and makes you feel relaxed and comfortable is essential."
By choosing curtains with a bold pattern or rich color, you can instantly transform your bedroom into a cozy retreat that reflects your style.
Replace excess furniture with functional items.
Dressers are a great use of space.
Allison Ellis/Shutterstock
When it comes to decorating your bedroom, the key is to keep things simple and minimal, according to Rohr. Removing excess furniture and opting for smaller items you'll actually use is one way to go about this.
You can add a dresser if you need more storage for clothes or a soft rug to sit on instead of a full reading nook.
The designer told BI, "By focusing on the items that are essential in your day-to-day life, you can create an inviting and well-designed room that doesn't feel too cluttered and can still perfectly reflect your personal style."
This story was originally published in October 2022, and most recently updated on May 8. 2024.
Tokyo police arrested a yakuza boss, accusing him of stealing Pokémon cards.
The yakuza once had a fearsome, violent reputation. This arrest marks a shift to petty crimes.
Anti-gang laws and lower profits have made yakuza membership less appealing to younger Japanese.
Tokyo Metropolitan Police last week arrested an executive of the Takinogawa gang, a faction of Japan's second-most powerful organized crime syndicate — the Sumiyoshi-kai.
His alleged crime? Police accuse him of stealing Pokémon cards.
Yakuza are members of organized crime syndicates, the Japanese equivalents of gangsters or mafiosos. Membership peaked in the 1960s when numbers swelled to more than 180,000.
In media, the yakuza are often depicted as terrifying figures, known for full-body tattoos and involvement in loansharking, extortion, and violence.
The recent arrest challenges that stereotype.
Yakuza members display their tattoos during the second day of the Sanja Matsuri Festival in Tokyo's Asakusa district on May 14, 2016.
Anadolu/Getty Images
SoraNews24 reported that Keita Saito, a 39-year-old kanbu, or leader, was arrested in late April over a petty theft related to a December 2022 office break-in.
According to the news outlet, items worth 252,000 yen, or $1,621, were stolen, which included 25 Pokémon trading cards.
SoraNews24 noted an increase in trading card thefts in Japan due to their lightweight, easy conversion into cash, and difficult traceability.
According to France's Le Monde, it's surprising to see a gang member, let alone a leader, arrested for petty theft in Japan, especially given the yakuza's historical association with more serious crimes.
Gangs have, in recent years, largely moved from violence toward white-collar crimes.
According to DW, as well as becoming less brutal, gang membership has steadily declined over the past few decades.
Stringent anti-gang laws, targeting businesses associating with gangs and restricting members' access to financial services like credit cards and pensions have lessened the economic incentive to join, DW reported.
The COVID-19 pandemic exacerbated this, the outlet said, noting that decreased demand for illegal activities like gambling, sex work, and drug trafficking impacted the yakuza's financial resources.
Becoming a yakuza has become a less attractive career path for young Japanese, according to Tomohiko Suzuki, an expert on the yakuza, speaking to The Guardian back in 2020.
He told the newspaper: "They have to sacrifice a lot to lead the life of a gangster, but for increasingly diminishing returns."
The Guardian reported that the average age of a yakuza is now over 50, with a growing number in their 70s.