TECHNOLOGY

FTX used $200 million of customer funds for two venture investments

FTX founder Sam Bankman-Fried leaves after his arraignment in New York on December 22, 2022. Ed Jones | AFP | Getty Images Of the billions of dollars in customer deposits that gone of FTX in a flash, $200 million was used to fund investments in two companies, according to the Securities and Exchange Commission, which …

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U.S. stocks drop on recession fears, Nasdaq closes at new bear market low

Tesla gains 3.3% in choppy trade Southwest Airlines slips 5.2% on government review Indices down: Dow 1.1%, S&P 500 1.20%, Nasdaq 1.35% Dec 28 (Reuters) – Major Wall Street indexes weakened on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, a rise in COVID cases in China …

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Bankman-Fried, FTX execs received billions in hidden loans, ex-Alameda CEO says

NEW YORK, Dec 23 (Reuters) – Sam Bankman-Fried and other FTX executives have received billions of dollars in secret loans from the crypto tycoon’s Alameda Research, the former fund chief said speculation to a judge when she pleaded guilty to her role in the collapse of the exchange. . Caroline Ellison, former managing director of …

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Facebook parent Meta to settle Cambridge Analytica case for $725 million

Dec 23 (Reuters) – Meta Platforms Inc, owner of Facebook (META.O) agreed to pay $725 million to resolve a class action lawsuit accusing the social media giant of allowing third parties, including Cambridge Analytica, to access users’ personal information. The proposed settlement, which was disclosed in a filing in court late Thursday would resolve a …

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Twitter layoffs continue under Elon Musk

CNN — Other Twitter employees were laid off Thursday as part of ongoing layoffs under new owner Elon Musk, including public policy and media and entertainment teams, according to tweets from affected employees. As part of Thursday’s layoffs, members of Twitter’s public policy team who remained after last month collective redundancies were again roughly halved …

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Core Scientific files for bankruptcy as crypto winter bites

Dec 21 (Reuters) – Core Scientific Inc (CORZ.O)one of the largest publicly traded cryptocurrency mining companies in the United States, said on Wednesday that it had filed for Chapter 11 bankruptcy, the latest in a series of failures to hit the area. Core Scientific, based in Austin, Texas, attributed its bankruptcy to falling bitcoin prices, …

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Musk to step down as Twitter CEO once he finds ‘someone foolish’ enough as successor

Dec 20 (Reuters) – Billionaire Elon Musk said on Tuesday he would step down as chief executive of Twitter Inc once he finds a replacement, but will still lead some key divisions of the platform. social media. “I’ll step down as CEO as soon as I find someone dumb enough to take the job! After …

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Elon Musk says he will step down as Twitter CEO — once he finds a replacement

CNN — Twitter owner Elon Musk confirmed on Tuesday night that he would step down as CEO of the company, but only when he identifies a successor, speaking directly for the first time to a Twitter poll he created this week in which millions of users voted to oust him. In one TweeterMusk said he …

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After Twitter users voted to oust Elon Musk as CEO, he wants to change how polls work

New York CNN — When Elon Musk asked Twitter users about whether to restore former President Donald Trump’s account, he was quick to followed to the end on the wish of the majority to do so. “Vox Populi, Vox Dei,” he said via tweet, Latin for “the voice of the people is the voice of …

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Wall Street falls fourth straight day as recession worries nag

Dec 19 (Reuters) – Wall Street stocks closed lower on Monday for a fourth straight session, with the Nasdaq leading the declines as investors shun riskier bets amid fears the Federal Reserve’s tightening campaign could take a dive the US economy in a recession. The three major U.S. stock indexes have been under pressure since …

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