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☆ Elon Musk vs Australia: Fight heats up over Sydney church stabbing video on X
▼ + stars: | 2024-04-24 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +8 min

The country’s e-safety commissioner ordered social media giants to take it down. Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks. With her message to Musk, Australian Senator Jacqui Lambie posted an image of herself in army fatigues taken at a Veteran Mentors' Junior Leadership camp in January. President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s e-safety commissioner. In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.

Persons: Elon Musk, that’s, X, ’, Anthony Albanese, Jacqui Lambie, “, hadn’t, ”, fatigues, AJA, David Adler, Adler, AJA hasn’t, Krissy Barrett, Reece Kershaw, Marcus Hoyne, Bishop, Bishop Mar Mari Emmanuel, Joanne Gray, Grzegorz Wajda, Gray, Musk, Musk’s, Australia’s, Lambie’s Organizations: Australia CNN, Christian Church, Australian, Leadership, Australian Jewish Association, CNN, ” CNN, Joint Counter, Counter, New South Wales Police Seven, Australian Federal Police, AFP, Australia’s Security Intelligence Organisation, National Press Club, Musk, Court, Bishop Mar, Good Shepherd, University of Sydney, European Jewish Association, X Corp Locations: Brisbane, Australia, Sydney, Tasmania, United States, New, Australia’s, Krakow, Poland

☆ What to do if you don’t want sex at the same time as your partner
▼ + stars: | 2024-03-29 | by ( Ian Kerner | ) edition.cnn.com time to read: +8 min

If you’re not having sex like porn stars, you’re not having good sex. One of the most pernicious myths is that sexual desire is “an electric spark of wanting” that happens naturally and instantaneously. There’s no such thing as normal when it comes to sex, and there’s more than one way of experiencing sexual desire. Even though I’m reading and writing and thinking and talking about sex all the time, I end up with no interest in actually having sex. When you talk to people who have great sex lives, they don’t talk about desire.

Persons: Ian Kerner, ”, you’re, Emily Nagoski, can’t, Nagoski, Kerner, Donald Hall, “ Organizations: CNN, ” CNN

☆ Opinion | We Owe It to Nex Benedict to Do Better by Bullied Teens
▼ + stars: | 2024-02-26 | by ( Margaret Renkl | ) www.nytimes.com time to read: +1 min

There’s much we don’t know about why Nex Benedict, a nonbinary teenager in Owasso, Okla., died a day after a fight in a high school bathroom. We know that 16-year-old Nex, who often went by they/them pronouns with peers, was bullied at school. We know that Nex didn’t report the recent encounters to teachers or school officials. We know that Nex responded to the harassment by pouring water on the students, but we also know the bathroom fight didn’t appear to be an even match. The family’s attorney stated that the teen was “attacked and assaulted in a bathroom by a group of other students.” Nex collapsed at home the next day.

Persons: Nex Benedict, Sue Benedict, “, ”, Nex, ” Nex Organizations: Owasso Police Department Locations: Owasso

☆ Democrats accuse X of profiting from Hamas propaganda
▼ + stars: | 2023-11-21 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Washington CNN —A group of House Democrats has accused X, the platform formerly known as Twitter, of profiting from Hamas propaganda and misinformation about the Israel-Hamas war after reports by independent researchers found numerous accounts glorifying the US-sanctioned terror group. More than two dozen US lawmakers signed the letter dated Tuesday addressed to X owner Elon Musk and CEO Linda Yaccarino. Musk sued Media Matters on Monday, accusing it of distorting the likelihood that ads may be shown against extremist material. But some legal critics have cast doubt on the complaint, calling it “weak” and “bogus” in the face of the First Amendment. The letter calls for Yaccarino and Musk to answer by December 1 to allegations that X has amplified terrorist propaganda in violation of its own policies.

Persons: X, Elon Musk, Linda Yaccarino, ”, Adam Schiff of California, Daniel Goldman, Jamie Raskin, Musk, Joe Benarroch, White Organizations: Washington CNN, House, Twitter, Institute for Strategic, Tech, Reps, Maryland, of Business, Media Matters, Media, Committee, US Marshals Service Locations: Israel, New York, Gaza

☆ X fails in court to terminate FTC privacy order or block Musk’s deposition
▼ + stars: | 2023-11-17 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

The 11-page order by US Magistrate Judge Thomas Hixon denies X’s attempt to invalidate a longtime privacy settlement with the FTC that forms the basis for the investigation. For the same reason, Hixon said he could not block the FTC from trying to depose Musk as part of the probe. Questions about whether the company has complied with the 2011 order arose in a significant way in 2022. And the investigation has only intensified since Musk’s takeover of the company, prompting X to protest what it has called government overreach and harassment of Musk. The FTC has said that it is attempting to carry out its mission to ensure X is complying with its legal obligations.

Persons: Elon Musk, Judge Thomas Hixon, Hixon, Musk, Musk’s, Peiter “ Mudge ” Zatko, X, X didn’t Organizations: CNN, Federal Trade Commission, Court, Northern, Northern District of, US Securities and Exchange Commission, Twitter, FTC Locations: Northern District, Northern District of California

☆ At SpaceX, worker injuries soar in Elon Musk’s rush to Mars
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +35 min

Through interviews and government records, the news organization documented at least 600 injuries of SpaceX workers since 2014. The more than 600 SpaceX injuries Reuters documented represent only a portion of the total case count, a figure that is not publicly available. SpaceX injury data reporting failures SpaceX facilities failed to submit injury data annually, as required by regulators, for most years since 2016. Workers welded rocket parts up to 12 hours a day, six days a week, often in temperatures over 100 degrees Fahrenheit, the SpaceX workers said. The accident occurred when he and other SpaceX employees were being transferred between two vessels.

Persons: Lonnie LeBlanc, LeBlanc, LeBlanc’s, hasn’t, Musk, ”, Tom Moline, Francisco Cabada, Cabada’s, Elon Musk, Ydy Cabada, Kennedy didn’t, Kennedy, “, Jordan Barab, Travis Carson, Carson, entrepreneurism, Jeff Bezos, Chris Cunnington, Phillip Fruge, ” Fruge, ” Carson, Elon, Carson “, Florentino Rios, Rios, Rios inched, Richard Hinojosa, ” Rios, Cabada, Ydy, SpaceX hasn’t, Michael Sanchez, ” Sanchez, Francisco’s, Evelyn Cabada, ” Barab, Boring, Paige Holland, Musk’s, Moline, Gwynne Shotwell, ” Shotwell, Shotwell, CalOSHA, Ann Rosenthal, Steven Trollinger’s, Trollinger, –, Chris Weimer, Ron Weimer Organizations: Elon, SpaceX, U.S . Marine Corps, U.S . Occupational Safety, Health Administration, OSHA, Musk’s, V2, Reuters, Regulators, Kennedy Space Center, U.S . National Aeronautics and Space Administration, NASA, ” Reuters, California OSHA, CalOSHA, ”, Workers, Boeing, Cabada, Boring Company, National Labor Relations Board, billionaire’s, Federal Locations: McGregor , Texas, LeBlanc, amputations, Hawthorne , California, Brownsville , Texas, Redmond , Washington, Florida, Cape Canaveral, California, Brownsville, Texas, Mexico, Moline, Carson, American, SpaceX’s Brownsville, Rios, Hawthorne, Los Angeles, “, ” Holland, Thielen, Holland, Federal, After Texas

As a platform subject to Europe’s Digital Services Act (DSA), X could face billions in fines if regulators conclude that violations have occurred. Much of the problematic content appears to stem from platform changes made under Musk’s supervision, Breton suggested in the letter, which he shared on X. “We have, from qualified sources, reports about potentially illegal content circulating on your service despite flags from relevant authorities,” Breton wrote. The EU letter comes as misinformation about the conflict continues to spread widely across X. On Tuesday, the investigative journalism group Bellingcat said a fake video designed to look like a BBC News report was circulating on social media.

Persons: Elon Musk, Thierry Breton, X didn’t, Breton, X, ” Breton, Porte, Gonzalo Fuentes, ”, Bellingcat, Elliot Higgins, Shayan, “, Musk Organizations: CNN, Europe’s Digital Services, White, DSA, SpaceX, Tesla, Viva Technology, Porte de, Reuters, BBC, BBC News, Pentagon Locations: Israel, Paris, France, EU, Ukraine

☆ Key takeaways from Sam Bankman-Fried’s first week in court
▼ + stars: | 2023-10-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

And Alameda was the only FTX customer allowed to carry a negative balance. Christian Everdell and Mark Cohen, attorneys for Sam Bankman-Fried, exit court in New York on Wednesday, Oct. 5, 2023. Star witness coming TuesdayCaroline Ellison, Alameda’s CEO and Bankman-Fried’s on-and-off girlfriend, is expected to take the stand when court resumes on Tuesday. Ellison, 28, is considered the prosecution’s star witness, given her position as the head of Alameda and her personal knowledge of Bankman-Fried’s behavior. According to court documents, when one employee asks who made the decision, Ellison responds: “Um … Sam, I guess.”

Persons: Sam Bankman, Gary Wang, Wang, SBF, Mark Cohen, Fried, FTX, Christian Everdell, Stephanie Keith, Everdell, “ FTX, ” Wang, ” FTX, Caroline Ellison, Ellison, Sam Organizations: New, New York CNN, Alameda Research, Bankman, Alameda, Bloomberg, Getty, “ Locations: New York, Alameda

☆ Sam Bankman-Fried’s crypto empire was ‘built on lies,’ US prosecutor says
▼ + stars: | 2023-10-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —In their opening statements to a newly sworn-in jury in Manhattan federal court, lawyers laid out previews of their cases, offering two divergent narratives for the collapse of Sam Bankman-Fried’s crypto empire. The US government has charged Bankman-Fried with multiple counts of fraud and conspiracy, following the implosion of his crypto-trading platform, FTX, last year. But as his own lawyer, Mark Cohen, stepped up to speak, Bankman-Fried’s demeanor softened and his focus shifted to the jury box. “Sam didn’t defraud anyone,” he told jurors, arguing that his client acted in good faith throughout the rise and fall of his startups. Legal experts say Bankman-Fried’s lawyers have their work cut out for them.

Persons: Sam Bankman, Thane Rehn, ” Rehn, Fried, “, ”, Elizabeth Williams, Rehn, Mark Cohen, Cohen, Sam didn’t, Sam, ” Cohen, FTX’s, FTX, “ It’s Organizations: New, New York CNN, Prosecutors Locations: New York, Manhattan, Bahamas

☆ European Union commissioner blasts X over disinformation track record
▼ + stars: | 2023-09-26 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —European Union officials on Tuesday called on large social media platforms to step up their enforcement against online mis- and disinformation, particularly about the war in Ukraine. “Disinformation actors were found to have significantly more followers … and tend to have joined the platform more recently than non-disinformation users,” Jourova added. The reports unveiled this week by the EU reflect transparency filings attesting to the companies’ efforts to live up to the code. The reports from companies, including Google, Meta, Microsoft and TikTok, cover a wide range of content types and enforcement actions by the platforms. “Russian propaganda and disinformation is still very present on online platforms.

Persons: Vera Jourova, Jourova, X didn’t, Google’s, TikTok, ” Organizations: CNN — European Union, EU, Digital Services, DSA, Google, Meta, Microsoft, European Commission, LinkedIn, YouTube, Internet Research Agency Locations: Ukraine, Russia

☆ Banks scramble to find leaders equipped for today’s economic realities
▼ + stars: | 2023-09-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

That means most current executives, who came up in the era of easy money, are unfamiliar with the complexities of running a bank under today’s conditions. Some CEOs are deciding that they need to make drastic, expensive and often unpopular institutional changes to help them keep up. Banks currently have strong managers, but not a lot of strong leaders, said David Schiff, senior partner at West Monroe. Prior to the current interest rate hikes, banks had been operating with low-interest, stable rates for nearly two decades, he said. It has not had a strike in its Canadian operations since 1990 and had not had a US strike since 1978.

Persons: Jane Fraser, Fraser, Mike Santomassimo, Truist, Venkatakrishnan, Goldman Sachs, It’s, Roger Hochschild, Morgan Stanley, James Gorman, Banks, David Schiff, That’s, aren’t, ”, Schiff, “, “ There’s, Chris Isidore, Unifor, ” Ford, Lana Payne, Clorox, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, Citigroup, Citi, Wells, Reuters, Barclays, C.S, CNBC, Discover, Canadian, Ford, Ford Motor Company, United Auto Workers, General Motors, Jeep, Dodge, Chrysler Locations: New York, West Monroe, Canada, Clorox

☆ Cyberattack at Clorox is disrupting production
▼ + stars: | 2023-09-18 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —A cyberattack at Clorox is causing wide-scale disruption of the company’s operations, hampering its ability to make its cleaning materials, Clorox said Monday. Clorox said some of its products are now in short supply as it has struggled to meet consumer demand during the disruption. Clorox said it immediately took action to stop the attack, including reducing its operations. Still, Clorox has not been able to get its manufacturing operations back up to full speed. “Clorox has already resumed production at the vast majority of its manufacturing sites and expects the ramp up to full production to occur over time,” the company said.

Persons: Clorox, “ Clorox, “, ” Organizations: New, New York CNN, MGM Resorts Locations: New York, Clorox

☆ These are the most and least expensive U.S. airports to fly out of—JFK, LAX didn’t make either list
▼ + stars: | 2023-09-01 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

SmartAsset, a financial advisory website, compared data from the Bureau of Transportation Statistics to rank the average cost of a domestic flight departing from 72 major U.S. airports with more than 100,000 passengers. The Ted Stevens Anchorage International Airport in Alaska took the top spot on the list of most expensive airport to fly out of in the U.S. According to SmartAsset, the Alaska airport saw an 11.61% change in airfare from the first quarter of 2022 to the first quarter of 2023. The Ted Stevens Anchorage International Airport serves over five million passengers annually. According to the airport's website, Ted Stevens Anchorage International is responsible for approximately 15,577 airport & community jobs, which equals one in 10 jobs in Anchorage, Alaska.

Persons: Ted Stevens, SmartAsset Organizations: Bureau of Transportation Statistics, International, International Airport Locations: Alaska, U.S, Anchorage , Alaska

☆ A Time Capsule Appeared to Be Full of Dirt. Then, They Looked Closer.
▼ + stars: | 2023-08-31 | by ( Livia Albeck-Ripka | More About Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

The unveiling of a nearly 200-year-old time capsule yielded great disappointment earlier this week, when the box — opened at the U.S. Military Academy in West Point, N.Y., during a livestream watched by thousands — appeared to contain only dirt. After days of tense speculation, Paul Hudson, the academy’s archaeologist, peered into the roughly one-foot-square lead vessel with a flashlight and soon declared that “the box didn’t quite meet expectations.”As it turned out — Mr. Hudson just had to look closer. After Monday’s event, Mr. Hudson returned the box to his lab. The next day, he dug deeper into the container and unearthed six silver coins dating from 1795 to 1828 and a commemorative medal from 1826, Jennifer Voigtschild, the academy’s command historian, said on Thursday. In the moments after the box was first opened, Ms. Voigtschild said, she felt “baffled that there would be this very, very, well constructed box, that would have nothing in it.” But, she said, as Mr. Hudson began removing pieces of matter from the box while onstage and examining them, her hope was somewhat revived.

Persons: —, Paul Hudson, peered, Hudson, Jennifer Voigtschild, Voigtschild, “ Organizations: U.S . Military Academy Locations: West Point, N.Y

But in the process of jogging his memory, things got complicated, and confusing, and messy because her ex didn’t remember anything, including their breakup. He amplified or even brought out for the first time these qualities that you didn’t know you had. He didn’t know he was about to start a graduate program at Central Saint Martins or that he lived in a dilapidated warehouse in Whitechapel with a pet rabbit. tyler wetherallAnd I used the excuse that, often, he didn’t remember our conversations. tyler wetherallHe had asked — Sam had asked a friend of his why I didn’t visit more often.

Persons: anna martin Hey, it’s Anna, I’ve, Kim Cattrall, I’ll, Daniel Jones, Miya Lee, ” It’s, That’s, anna martin, ” I’m Anna Martin, we’ve, tyler wetherall, — “, anna martin Tyler Wetherall, Tyler Wetherall, ” tyler wetherall, Sam, ” anna martin, You’d, anna martin Wait, — anna martin You, anna martin You, tyler, anna martin Oh, — tyler, anna martin —, he’s, tyler wetherall Oh, anna martin Well, Tyler, ’, ‘, ‘ that’s, ’ ” anna martin, anna martin Ooh, anna martin That’s, anna martin Ugh, anna martin He’d, “, —, ” anna martin Sam, He’d, you’ll, anna martin Wow, anna martin I, tyler wetherall I’ll, we’re, Pete, Lawrence, tyler wetherall Totally, tyler wetherall It’s, anna martin Right, she’d, — Sam, she’s, he’d, anna martin It’s, tyler wetherall There’s, anna martin Sure, We’d, ” We’d, you’d, anna martin Absolutely, hadn’t Organizations: Tribeca Festival, The New York Times, Chelsea, Central Saint Martins Locations: New York, Sam, Whitechapel

☆ 2023 Met Gala: Red Carpet Roundup
▼ + stars: | 2023-05-01 | by ( The Styles Desk | ) www.nytimes.com time to read: 1 min

The worlds of celebrity, fashion, politics, sports, business and art collide at the Met Gala, always held on the first Monday in May. The invitees posed, giving the crowds and cameras angle after angle for prime gawking. Mr. Leto wasn’t the only one who deconstructed an outfit. Janelle Monáe’s Thom Browne hoop skirt transformed into a sequined bikini. And Lil Nas X didn’t have much to take off, having arrived in full silver body paint, bejeweled thong and an elaborate mask.

☆ How Queen Elizabeth’s coronation helped start Matchbox cars
▼ + stars: | 2023-04-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +6 min

New York CNN —Matchbox, maker of tiny toy cars, is bringing back one if its most important models. It’s not a car, but a little horse-drawn coach, and its success led to the creation of Matchbox toy cars. The new carriage will be in the traditional 1/64 scale used for Matchbox cars. Courtesy MattelDecades later, Elliot Handler, one of the founders of Mattel, noticed his son playing with Matchbox cars. Hot Wheels cars had flashy paint jobs, outsized wheels, impossibly huge (relatively speaking) plastic engines, and only occasionally looked like cars you might actually see on the street.

☆ The Fox-Dominion Settlement
▼ + stars: | 2023-04-20 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Reuters/Shutterstock Composite: Mark KellyThe wailing you heard across the land Tuesday afternoon was the sound of thousands of journalists lamenting the settlement of the defamation lawsuit by Dominion Voting Systems against Fox News. An entire industry of reporters has been denied the schadenfreude of seeing their hated political and media competitor in the dock. An hilariously revealing courtroom account in Politico laments that “hopes were dashed—dreams torpedoed” by the settlement. The settlement is a victory for Dominion, which said Fox will pay $787.5 million.

☆ Dominion can’t bring up January 6 at Fox News defamation trial, judge rules
▼ + stars: | 2023-04-11 | by ( Marshall Cohen | ) edition.cnn.com time to read: +5 min

Wilmington, Delaware CNN —Dominion Voting Systems can’t bring up the January 6 insurrection during its upcoming defamation trial against Fox News, a Delaware judge ruled Tuesday, who also revealed at a hearing that he has been receiving death threats. The judge ruled that Fox can’t bring up broadcasts where reporters accurately fact-checked Trump’s lies about the 2020 election, to prove that other broadcasts that amplified those lies weren’t defamatory. The judge also ruled that Fox can’t use internal Dominion emails where its staffers said their products “suck” and were “riddled with bugs,” to prove that there were real concerns about Dominion machines, and therefore Fox didn’t defame Dominion. The judge overseeing Dominion’s case against Fox News also revealed Tuesday that he has received death threats. If Dominion wins, it wants Fox to pay for the beefed-up security measures that it implemented after 2020.

☆ Fact Check-Digitally-made great white mistaken for real shark on North Carolina’s Outer Banks
▼ + stars: | 2023-04-04 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A series of images claiming to show a large great white shark washed up on the beach in Outer Banks, North Carolina were digitally created by a social media user. The text in one post (here) reads, in part, “A giant great white shark found washed out on the Outer Banks beach, North Carolina. While great white sharks can be seen in the beaches of the Outer Banks (here), the only recent news report of a shark washing up onto shore is from February 2022 and involves a 6-foot shark (here). In February 2018, social media users were tricked into believing another one of Lex’s images showed a real large shark washed up on shore at Outer Banks, according to a local news report (here). The images were digitally created and do not show actual photographs of a great white shark washed up to the shore in Outer Banks, North Carolina.

☆ Chief of Digital Freight Startup Transfix Steps Down
▼ + stars: | 2023-03-02 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

Digital freight startup Transfix Inc. said on Thursday that Chief Executive Lily Shen was stepping down and would be succeeded by the company’s co-founder and chief technology officer, Jonathan Salama. “I understand the challenges, and Lily and I have a strong plan for the future.”Lily Shen has resigned as chief executive of digital freight broker Transfix. Jonathan Salama is a co-founder and the new chief executive of Transfix. In place of the SPAC, G Squared and another Transfix backer, New Enterprise Associates Inc., led a private funding round. She became chief operating officer the same year and in 2020 took over as chief executive.

☆ Crypto Company CoinEx Sued by New York Over Failure to Register
▼ + stars: | 2023-02-23 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

The New York attorney general’s office has sued cryptocurrency platform CoinEx, alleging it failed to register as a securities and commodities broker-dealer and misrepresented itself as a crypto exchange. But New York prosecutors said CoinEx isn’t registered with the U.S. Securities and Exchange Commission or designated by the Commodity Futures Trading Commission as an exchange, as required by New York state law. The office of New York Attorney General Letitia James said its prosecutors also were able to buy and sell crypto on CoinEx in New York, despite the fact the company isn’t registered in the state. New York law requires securities and commodities brokers to register with the state to do business there. The suit, announced Wednesday, is the latest action by the New York attorney general in policing the crypto sector and using the state’s laws to protect investors.

☆ Sky spinoff is Comcast’s least-bad option
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

☆ FTX: Inside the crypto giant's downfall
▼ + stars: | 2022-11-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +9 min

Crypto contagionThe crypto industry is on edge, waiting for the next dominoes to fall. Soon after FTX went down, crypto firms were inundated requests from customers seeking to claw their money back — the crypto equivalent of a run on the bank. The pain isn’t confined to crypto companies. SBF had become a fixture in Washington, too, where he regularly traveled to lobby lawmakers for greater regulatory clarity for the crypto industry. “It’s about fraud and the power of virtue signaling.”He added: “This scandal, far from destroying crypto, practically ensures that crypto will be around for a long, long time.”

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