Financial giant Goldman Sachs is reportedly taking legal action against an unaffiliated bankruptcy specialist who has been running a side company called “Goldman Sachs Capital LLC.”

The Wall Street Journal reports that Arian Eghbali, 40, registered Goldman Sachs Capital with the California Secretary of State’s office in 2022, listing himself as the firm’s chief executive in 2024.

Nick Carcaterra, a spokesperson at the actual Goldman Sachs, tells the WSJ that Eghbali hasn’t worked for the financial giant, which is taking action regarding the use of its name.

Eghbali reportedly represents trade creditors through his firm Olympus Guardians and is involved in numerous cases related to high-profile companies like Forever 21, Hooters and Virgin Orbit.

The California businessman tells the WSJ he considered embarking on a business venture that he thought would receive funds from the actual Goldman Sachs, so he registered Goldman Sachs Capital.

That venture didn’t materialize, and Eghbali has since used the LLC to maximize employee retention credits (ERCs), refundable tax credits designed to encourage employers to keep on employees during the pandemic.

Carcaterra, however, tells the WSJ that Eghbali’s reasoning for registering Goldman Sachs Capital does not follow logic.

A representative for the California Secretary of State’s Office tells the WSJ that it doesn’t regulate brand or intellectual-property issues and only cross-checks registrations against names that are already in its system, not national brands.

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James Wynn, a crypto trader who has been sharing his positions on the X (formerly Twitter) platform, has quickly become popular after his large Bitcoin positions went viral. So far, James has opened multiple billion-dollar positions and has garnered a large following after his admirable win rate. The crypto trader has also managed to cross in 8-figure territory in terms of gains. Two of his latest trades have caught attention, and this report takes a look at how the trader has managed these positions.

Billion-Dollar Bitcoin Long And Short Positions

While James Wynn had been gaining a lot of attention for being a top 5 trader on the Hyperliquid platform in terms of PNL, his most recent round of trades have garnered even more attention. Last week, the crypto trader stunned the community when he opened a $1.2 billion long position, with 40x leverage. With a close liquidation price of $105,179, this seemed to be a risky position, and as the Bitcoin price fluctuated, so did the PNL of the position.

As the Bitcoin price moved lower toward the weekend, the trader would close this billion-dollar long position for a $13.4 million loss. After this, James Wynn quickly flipped directions and placed another billion-dollar perp position, but this time in favor of the Bitcoin price going down.

With an entry price sitting just above $107, this would prove to be a fatal decision for the trader as the Bitcoin price began to move upward. Once again, Wynn was forced to close this massive perp position, resulting in a heavier loss of $15.87 million. In total, the perp trader lost almost $28 million in a 24-hour period, according to Hyperliquid data.

What’s Next For James Wynn?

Following the closure of his short position, James Wynn took to X (formerly Twitter) to address the situation. In the post, he explained that after the massive losses, he was looking at no longer playing at perps anymore. Additionally, he revealed that despite the losses, he remains $25 million in the green after starting with a $3-$4 million initial position.

The post drew speculation from the crypto community, with some arguing that the crypto trader would not just stop trading. This proved to be right as only hours later, Wynn was back on Hyperliquid to place multiple bets on new positions.

The crypto trader initially focused on longing PEPE, which has been one of his most profitable coins to trade, earning him over $25 million in profit. He soon opened another Bitcoin long position with an entry price of $109,733.

At the time of writing, James has closed his PEPE position after almost getting liquidated as the Bitcoin price plummed. The Bitcoin long position remains, but has been reduced by half to $439 million. In total, the trader took a $4.4 million loss already, and his Bitcoin position remains shaky at a -$4.12 million loss.

Chart from TradingView.com

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With rates currently over 4%, certificates of deposit (CDs) can seem like a no-brainer: They offer a guaranteed return with zero risk. But despite the tempting rates, I’ve never opened a CD, and I don’t plan to. Here’s why.

1. My money needs to stay flexible

One of the biggest drawbacks of CDs is the lack of flexibility. When you put your money in a CD, you’re committing to leave it there for months or even years. If you need to withdraw money before the CD matures, you’ll often face penalties that eat into your interest and sometimes even your principal.

I prefer to keep my cash in one of the best high-yield savings accounts. The rates are currently similar to CDs, and I can access my money anytime without worrying about penalties. Life is unpredictable, and I’d rather have quick access to my cash if an emergency, or an investment opportunity, comes up.

2. I can earn more elsewhere

While a 4% (or higher) return sounds great, it’s not the best option for growing wealth over the long term. CDs are safe, but they often lag behind inflation and don’t offer the same upside as other investments.

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Instead, I keep most of my money in stocks and index funds through a tax-advantaged retirement account: a Roth IRA. Historically, the stock market has returned 10% annually over the long run — far outpacing even the best CD rates. Sure, the market has ups and downs, but since I don’t need that money right away, I’m willing to ride out the volatility for higher potential returns.

3. Interest rates are always changing

Locking my money into a CD feels like a gamble. If I open a CD today at 4%, what happens if rates climb to 5% next month? I’ll be stuck with a lower rate while others are earning more.

By keeping my cash in a more flexible account, I can take advantage of rising rates without being locked into a long-term commitment. Some savings accounts adjust their rates regularly, meaning I can benefit from increasing returns without losing access to my money.

Earn more than 10 times the national average on your savings. Open a high-yield savings account today.

There are better options out there

CDs can be a good option for those who prioritize safety and don’t mind locking up their money. But for me, flexibility, higher earning potential, and the ability to adapt to changing rates are more important.

If you’re considering a CD, ask yourself: Do I need access to my money? Am I comfortable with the returns? Do I want to lock in a rate now? Depending on your answers, a CD might be the right choice for you. But for now, I’ll be keeping my cash elsewhere.