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Read previewMeta's Oversight Board is preparing to make some job cuts, The Washington Post reported. Mark Zuckerberg announced the Oversight Board, which operates independently from Meta, in late 2018, and it began operating in October 2020. AdvertisementIn a statement sent to Business Insider, Stephen Neal, the Oversight Board Trust's chair, confirmed it was making "targeted cuts." AdvertisementA Meta representative told BI that the company "remains committed to the Oversight Board, which operates independently from the company, and continues to strongly support its work." Meta recently announced it would begin labeling a wider variety of content with its "Made with AI" label after an Oversight Board recommendation.
Persons: , Mark Zuckerberg, Stephen Neal, Neal, Meta Organizations: Service, Washington Post, Facebook, Business, Meta, Financial Times, Big Tech
A senior Paul Weiss lawyer has been hired to defend FTX founder and ex-CEO Sam Bankman-Fried. FTX said on Twitter that a sprawling group of companies founded by Bankman-Fried, known as SBF, filed for Chapter 11 bankruptcy in Delaware. The new CEO of FTX is John J. Ray III, a lawyer-turned-executive with a colorful past leading troubled companies, most notably Enron. The firm Paul Weiss and its lawyer Martin Flumenbaum, who represented the junk-bonds king Michael Milken, are representing Bankman-Fried personally. John J. Ray IIIRay joined FTX as CEO just in time to sign its bankruptcy filing.
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Sam Bankman-Fried's cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. CNBC reached out to Adam Landis, founding partner of Landis Rath & Cobb LLP, who filed the Chapter 11 proceedings on behalf of FTX. FTX founder Sam Bankman-Fried admitted on Thursday that he "f---ed up." The Chapter 11 proceedings exclude the following subsidiaries: LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.
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