Bankman-Fried says he will testify before U.S. House committee

Bankman-Fried says he will testify before U.S. House committee

Dec 4 (Reuters) – FTX founder Sam Bankman-Fried tweeted on Sunday that he would testify before the House Financial Services Committee after he finished “learning and reviewing” the events that led to the spectacular collapse of his cryptocurrency exchange. The U.S. House Financial Services Committee plans to hold a hearing in December to investigate the … Read more

Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the spectacular collapse of the FTX … Read more

Crypto lender Genesis says no immediate plans to file for bankruptcy

Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions. “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any … Read more

Tesla board member says Elon Musk identified potential successor as CEO

Tesla board member says Elon Musk identified potential successor as CEO

SAN FRANCISCO, Nov 16 (Reuters) – James Murdoch, a Tesla Inc (TSLA.O) director, testified in court on Wednesday that CEO Elon Musk has in the last few months identified someone as a potential successor to head the electric carmaker. Murdoch, who did not name the potential successor, was testifying in a trial over Musk’s 2018 … Read more

Elon Musk says he will find a new leader for Twitter

Elon Musk says he will find a new leader for Twitter

Nov 16 (Reuters) – Elon Musk said on Wednesday he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week. Musk made the remarks while testifying in a Delaware court to defend against claims that … Read more

Trump fights Twitter ban at U.S. appeals court

Trump fights Twitter ban at U.S. appeals court

Nov 14 (Reuters) – Former U.S. President Donald Trump on Monday asked a U.S. appeals court to revive his lawsuit against Twitter Inc challenging his permanent suspension from the platform after his supporters attacked the U.S. Capitol on Jan. 6, 2021. Lawyers for Trump, a Republican, told the San Francisco-based 9th U.S. Circuit Court of … Read more

Google to pay nearly $400 million to settle U.S. location-tracking probe

Google to pay nearly 0 million to settle U.S. location-tracking probe

WASHINGTON, Nov 14 (Reuters) – Alphabet’s Google (GOOGL.O) will pay $391.5 million to settle allegations by 40 states that the search and advertising giant illegally tracked users’ locations, the Michigan attorney general’s office said Monday. The investigation and settlement, which was led by Oregon and Nebraska, is a sign of mounting legal headaches for the … Read more

Regulators circle FTX as rival exchanges try to calm investors

Regulators circle FTX as rival exchanges try to calm investors

U.S. Justice Department, SEC and CFTC probing FTX, sources say Fed’s Brainard: crypto should be under traditional finance rules Crypto.com CEO says it will publish proof of reserves Bitcoin steadies around $16,590 NEW YORK, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies were under pressure on Monday following last week’s spectacular collapse of crypto exchange … Read more

Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Musk looking to axe around half of Twitter’s workforce Employees file class action against Twitter Staff lose access to systems Volkswagen pulls ads Nov 4 (Reuters) – Twitter Inc started a major round of layoffs on Friday, alerting employees of their job status by email after barring the entrances to offices and cutting off workers’ … Read more

Musk begins his Twitter ownership with firings, declares the ‘bird is freed’

Musk begins his Twitter ownership with firings, declares the ‘bird is freed’

Musk says the “bird is freed” after $44 billion deal Musk fires Twitter CEO, CFO, policy chief Some Twitter users flag willingness to walk away Poll shows employee job concerns EU warns: “This bird will fly by our rules” Oct 28 (Reuters) – Elon Musk has taken ownership of Twitter Inc (TWTR.N) with brutal efficiency, … Read more