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The head of the u. N World food programm says there could be a global food catastrophe. A new york hedge fund manager is cutting ties with text starks. The 30 year old south korean who co created the crypto currency luna has followers call themselves lunatics. And compared to 430 thrillion dollars worth of wealth on earth to day, when billionaires are making over five six billion dollars a day.

Hedge funds are trying to reposition themselves in the middle of this year’s heavy tech stock sell-off, and the director of the UN’s World Food Programme, David Beasley, explains how the war in Ukraine is causing a global food shortage. Plus, the FT’s Christian Davies tells the wild story of the guy behind the Luna cryptocurrency and its incredible downfall.

Mentioned in this podcast:

Gabe Plotkin’s Melvin Capital to wind down funds

The mauling of Tiger Global

$40bn crypto collapse turns South Korea against the ‘Lunatic’ leader

The Rachman Review

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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