FTX Lawyer Says “Substantial Amount” of Assets Missing from Company in Hearing
FTX owes its top 50 creditors more than $3.1 billion and has roughly $1.24 billion in cash, according to court filings.
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Bankruptcy Filing Shows FTX Has $1.24 Billion Cash Balance
The court filing estimated that FTX would spend $23 million on salaries and benefits, vendor payments and other costs over the next five weeks.
China Plans to Fine Ant Group More Than $1 Billion
The penalty, which could be finalized as early as the second quarter of next year, could pave the way for Ant to seek to go public in the future.
JD.com Cuts Senior Managers’ Salaries As Much as 20% to Help Fund Employee Benefits
The cuts ranging from 10% to 20% come amid China’s push for “common prosperity” including targeting “excessive” banker salaries to address income inequality.
Twitter to Hold Off Relaunching Verification System
Musk had said Twitter would relaunch the verification system on Nov. 29 but now he says the timing is unclear.
Zoom Shares Drop 5% As Sales Slowdown Continues
Zoom has had a rough year with shares down 56% so far, but one ray of hope is the growth of its sales to large corporate customers.
Musk Appoints New Head of Ads After Firing Former Sales Lead
The company has lost a string of high-profile executives in recent weeks.
Bob Iger Returns as Disney CEO, Chapek Out
Disney's reshuffling of its leadership comes as the company has shown steep losses from its streaming business.
FTX Owes Top 50 Creditors More Than $3.1 Billion
The 10 largest creditors of the bankrupt crypto exchange each have more than $100 million in unsecured claims.
Elon Musk Reinstates Donald Trump’s Twitter Account
Twitter suspended Trump’s account in January 2021, after judging that Trump's tweets after the January 6 insurrection violated Twitter’s ban on inciting violence.
Theranos Founder Elizabeth Holmes Sentenced to 11 Years in Prison
Her months-long trial that came to symbolize the limits of Silicon Valley hubris.
Yoel Roth, Former Trust & Safety Chief at Twitter, Says App Stores Will Check Musk
Roth had appeared to be favored by Musk so his sudden exit caught people by surprise. In the op ed, he explains his reasons for leaving.
Elon Musk Announces New Content Moderation Framework
Musk said he had not made a decision on whether former president Donald Trump would be allowed to return to the platform.
Elon Musk Schedules Engineer Interviews To Learn About Twitter’s Tech Stack
“If possible, I would appreciate it if you could fly to SF to be present in person,” Musk wrote.
Twitter Temporarily Closes Offices as Hundreds Depart Company
The email came less than two hours after the deadline for employees to decide whether or not to stay at the company.
Lacework Switches CFOs, Hires First-Ever Marketing Chief
Lacework, a cloud security startup backed by Sutter Hill Ventures, is shaking up its executive ranks as it continues to search for a new global sales chief.
Twitter Finds a New Head of Trust and Safety
Ella Irwin was a VP of product before Elon Musk acquired Twitter
Alameda Research Loaned Sam Bankman-Fried $3.3 Billion
Paper Bird, which received a $2.3 billion loan, also controlled FTX Ventures, which Bankman-Fried has said had $2 billion of his personal capital for venture investments.
SpaceX Faces Charges Over Firing Workers Who Criticized Elon Musk
Eight former SpaceX worked fired charges with the National Labor Relations Board Wednesday
FTX US Loaned BlockFi $250 Million in FTT
The filing in FTX’s bankruptcy case comes days after BlockFi announced that it had paused customer withdrawals and hired financial advisors to “explore all options.”
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy