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☆ Trump's Twitter account has been reinstated, but his January 6 tweet attacking Mike Pence is missing
▼ + stars: | 2022-11-20 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Elon Musk reinstated former President Donald Trump's Twitter account on Saturday. Though the @realDonaldTrump account is active again, several tweets from January 6 are gone. A tweet attacking Mike Pence's courage and another about the riot appear to have been removed. A transcript of Trump's tweets on January 6, 2021, compiled by the University of California Santa Barbara's American Presidency Project, suggested several posts were missing after the @realDonaldTrump account was reactivated. Representatives for Twitter and Trump did not immediately respond to Insider's requests for comment.

☆ Analysis: Twitter was already in disarray. Trump's return will only make it more chaotic
▼ + stars: | 2022-11-20 | by ( Seth Fiegerman | ) edition.cnn.com time to read: +4 min

(He also noted Trump’s return comes a day before the World Cup is set to kick off, a high-traffic event for the platform.) Instead, Musk tweeted a poll Friday, asking followers to vote whether or not to restore Trump’s account. But Trump also made Twitter into the center of the known media and political universe. Celebrities, world leaders, and a long list of critics and supporters often engaged with Trump directly on Twitter. But one answer seems clear: Musk appears to be betting that if users can’t turn away from the platform, neither can advertisers.

Elon Musk on Saturday reinstated former President Donald Trump's Twitter account. Musk polled Twitter users about whether to bring back the account, with 51% of respondents voting "yes." Trump's return to Twitter was widely anticipated after Tesla CEO Elon Musk closed a $44 billion deal to buy the company. "I do think it was not correct to ban Donald Trump," Musk said at a Financial Times conference in May. "I am not going on Twitter, I am going to stay on TRUTH," Trump told Fox News in April, referring to the website Truth Social.

Musk, Twitter's new owner, said in May he would reverse Twitter's ban on Trump, whose account was suspended after last year's attack on the U.S. Capitol. Musk's decision to ask Twitter users for guidance on who should be on the platform is part of a huge restructuring of the company, including massive layoffs. Twitter told employees on Thursday that it would close its offices and cut badge access until Monday, according to two sources. In his first email to Twitter employees this month, Musk warned that Twitter may not be able to "survive the upcoming economic downturn." Amid the changes, Moody's withdrew its B1 credit rating for Twitter, saying it had insufficient information to maintain the rating.

☆ Elon Musk encourages Twitter engineers to fly in for in-person meetings
▼ + stars: | 2022-11-19 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +4 min

Twitter told employees on Thursday that it would close its offices and cut badge access until Monday, according to two sources. In his first email to Twitter employees this month, Musk warned that Twitter may not be able to "survive the upcoming economic downturn." When a Twitter user asked Musk to reinstate conspiracy theorist Alex Jones, Musk replied with a curt "no." "There will be short, technical interviews that allow me to better understand the Twitter tech stack," Musk wrote in one of the emails. Musk wrote on Twitter late on Thursday that he was not worried about resignations as "the best people are staying."

CNN —Former US President Donald Trump’s Twitter account has been reinstated on the platform. The account, which Twitter banned following the January 6, 2021, attack on the Capitol, was restored after Twitter CEO and new owner Elon Musk posted a poll on Twitter on Friday night asking the platform’s users if Trump should be reinstated. Asked on Saturday what he thought of Musk purchasing Twitter and his own future on the platform, Trump praised Musk but questioned whether the site would survive its current crises. It may make it, it may not make it.”Still, Trump said he liked Musk and “liked that he bought (Twitter. Soon after Trump’s Twitter ban, he was also restricted from Meta’s Facebook and Instagram, which could also restore his accounts as soon as January 2023.

☆ Elon Musk says he will reinstate Twitter account of former President Donald Trump after online poll
▼ + stars: | 2022-11-19 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

New Twitter owner and CEO Elon Musk announced that he will reinstate the Twitter account of former President Donald Trump on Saturday. Musk ran a straw poll on the social media platform starting late Friday asking his followers to vote on whether to reinstate former U.S. President Donald Trump's account on the platform. At its conclusion, Musk wrote in a tweet, "The people have spoken. Under previous ownership, Twitter had issued a lifetime ban on President Donald Trump's account in January 2021. For his part, former President Trump said earlier this year that he would not return to the social media platform even if Musk reversed the ban.

☆ Elon Musk polls Twitter: Reinstate Trump?
▼ + stars: | 2022-11-19 | by ( Erin Snodgrass | Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

Amid his chaotic takeover, Elon Musk polled Twitter users on whether to reinstate Trump's account. Twitter banned Trump in January 2021 following the Capitol riot, citing "the risk of further incitement of violence." Musk in May said he would reinstate Trump's account following his acquisition of the company, calling the decision to ban the former president "morally wrong and flat out stupid." Trump has said he won't return to Twitter even if his account is reinstated, saying he prefers his own platform, Truth Social. I like it better, I like the way it works, I like Elon, but I'm staying on Truth," Trump told Fox News last month.

☆ FTX's bankruptcy filings show the situations is much worse than anyone thought. From a million creditors to a stunning lack of oversight, here are the craziest details.
▼ + stars: | 2022-11-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

The downfall of crypto exchange FTX has led to a bankruptcy filing that is full of crazy details. From billion dollar loans to accountants in the metaverse, these are the craziest details of the FTX bankruptcy filing. In reality, according to the bankruptcy filing, FTX's crypto holdings have a fair value of just $659,000 as of September 30. FTX didn't have an accounting departmentRay said in the bankruptcy filing that FTX had compromised internal systems, faulty regulatory oversight, and inexperienced and unsophisticated people in charge of the company's finances. "In fact, there could be more than one million creditors in these Chapter 11 Cases," the bankruptcy filing said.

Sam Bankman-Fried, FTX’s 30-year-old founder, became the face of the company and, to some, crypto at large. The first red flagsNot long after Bankman-Fried started FTX, crypto began to boom. Venture capital money flooded into all things blockchain and crypto, and crypto platforms moved to attract customers beyond the technologists and blockchain evangelists that once fueled its rise. These digital tokens use blockchain technology, in which computers contribute to a shared ledger that can be used to track digital assets. Graeme Sloan / Sipa USA via APThe Wall Street Journal and CNBC, also citing anonymous sources, reported that Alameda had used FTX funds for trading.

The licenses gave FTX access to U.S. commodities derivatives markets as a regulated exchange. FTX also saw its regulatory status as a way of luring new capital from major investors, the documents show. “FTX has the cleanest brand in crypto,” the exchange proclaimed in a June document presented to investors. According to the document, FTX told the regulator it did not have the same issues as products from other providers that the agency had investigated. "We confirmed these were solely rewards based and do not involve lending (or other use) of the deposited crypto," FTX wrote.

☆ After FTX's collapse, an SEC commissioner says crypto is worsening finance's existing flaws, while investors look for answers on regulatory concerns
▼ + stars: | 2022-11-18 | by ( April Joyner | ) www.businessinsider.com time to read: +6 min

Investors told Insider that they welcome regulation and more guidance at the federal level. In Lizárraga's view, many crypto companies have not only replicated the flaws of the traditional finance industry, but they've made them worse by operating in a regulatory gray area. Instead, crypto companies can protect both themselves and their customers by embracing regulation rather than seeking to sidestep it, he said. She decided to partner with the fintech company Apex for Zingeroo's crypto offering rather than a pure-play crypto exchange because she felt more confident that Apex would follow proper compliance. But others, including some venture capitalists, have suggested that federal regulators have not provided enough clarity to crypto companies.

☆ 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.”

☆ FTX employees were claiming expenses through online chat and random managers used emojis to approve them, new CEO says in bankruptcy filings
▼ + stars: | 2022-11-18 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

FTX employees claimed expenses through chat messages, its new CEO said. Random managers would then approve the official claims by using personalized emojis, John Ray added. In his damning report, Ray said FTX failed to keep communication, hiring, and financial records. New CEO John Ray said FTX employees submitted payment requests to a "disparate group of supervisors," who would approve expenses "by responding with personalized emojis," FTX's Thursday bankruptcy filing shows. Ray said FTX "never had board meetings" and that the exchange used employees' personal names to purchase real estate in the Bahamas with corporate funds.

☆ One of Wall Street's toughest shops isn't for the faint of heart. But the rewards are plenty for those who make it to the top.
▼ + stars: | 2022-11-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Apollo Global Management; Yahoo; Brightspeed; Legendary; Alyssa Powell/Insider1. That, in a nutshell, is life at Apollo Global Management. The firm works on a points system that could most easily be described as a profit-share system, Casey told me. In other news:France's Kylian Mbappe celebrates with the trophy after winning the World Cup REUTERS / Kai Pfaffenbach2. You're not just watching the World Cup.

☆ FTX founder's remarks pose challenge for his lawyers
▼ + stars: | 2022-11-18 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Nov 18 (Reuters) - FTX founder Sam Bankman-Fried, facing mounting legal challenges over the collapse of his cryptocurrency exchange, may have harmed his defense by speaking publicly in recent days, legal experts said. Bankman-Fried has sought to explain the implosion of FTX and disparaged government regulators in posts on Twitter and conversations with reporters. Attorneys said such statements will likely make life more difficult for the defense lawyers seeking to manage fallout from the exchange’s demise and navigate multiple federal investigations. His law firm represents many other financial industry clients. Joseph is a former president of the American College of Trial Lawyers who has written about racketeering law and rules of evidence.

☆ New CEO says FTX had 'complete failure of corporate control'
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +4 min

Nov 17 (Reuters) - New FTX CEO John Ray said there was flawed regulatory oversight and a lack of corporate control of the bankrupt crypto exchange founded by Sam Bankman-Fried in a U.S. court filing on Thursday. "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said in the filing, which was lodged with the District of Delaware bankruptcy court. Bankruptcy specialist Ray, who took over from Bankman-Fried as CEO when FTX filed for protection on Friday, did not name any specific overseas regulator in that part of the 30-page filing. FTX founder Bankman-Fried did not immediately respond to a request for comment on the allegations contained in the filing. Vox on Wednesday published an interview with Bankman-Fried in which he said he regretted his decision to file for bankruptcy protection and criticized regulators.

☆ New FTX CEO says 'complete failure of corporate control' at crypto exchange
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - FTX's new chief executive officer, John Ray, has criticized the oversight of the bankrupt crypto exchange, a court filing showed on Thursday. "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said. Ray also criticized his predecessor and FTX co-founder Sam Bankman-Fried for making "erratic and misleading public statements". Vox on Wednesday published an interview with Bankman-Fried where he said he regretted his decision to file for bankruptcy protection and criticized regulators. Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Bankman-Fried says filing for FTX bankruptcy was a mistake - Vox
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - The founder of collapsed crypto exchange FTX, Sam Bankman-Fried, said he regretted his decision to file for bankruptcy and, in an interview published by Vox, criticized regulators. The five new directors and newly appointed Chief Executive John J. Ray are working to navigate through the bankruptcy process. In a statement published on Twitter, Ray said Bankman-Fried had no ongoing role at FTX, FTX US or Alameda Research and did not speak on their behalf. After Vox published the interview, Bankman-Fried said some of what he had said had been "thoughtless or overly strong" and that he was venting about something that was not intended to be public. loadingA Vox spokesperson said all communication with Vox reporters was on-the-record unless the subject and reporter had agreed otherwise.

☆ Sam Bankman-Fried says filing for bankruptcy at FTX was his 'biggest' mistake and the people now running the company are 'trying to burn it all to the ground out of shame'
▼ + stars: | 2022-11-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried has said his "biggest single " mistake at FTX was filing for bankruptcy. Bankman-Fried said those now in charge of the company were "trying to burn it all to the ground." "You know what was maybe my single biggest fuckup?" Bankman-Fried suggested to Vox that "everything would be ~70% fixed right now" if FTX hadn't filed for bankruptcy. FTX has been accused of misusing customer funds to prop up another company owned by Bankman-Fried, the trading firm Alameda Research.

☆ Sam Bankman-Fried says 2 top execs have left FTX, with one 'scared' and another 'ashamed and guilty'
▼ + stars: | 2022-11-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

FTX cofounder Sam Bankman-Fried said two top executives have left the collapsed crypto exchange. CTO Gary Wang and director of engineering Nishad Singh are no longer at FTX, he told Vox. Singh was "ashamed and guilty" because FTX customers' deposits were lost, Bankman-Fried said. When asked to clarify whether they were both gone, Bankman-Fried said that Wang was "scared" and Singh was "ashamed and guilty" because FTX customers' deposits had been lost. Despite this, he lived with Bankman-Fried, Singh, and other FTX employees, CoinDesk reported.

☆ FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing
▼ + stars: | 2022-11-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection. The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators. In that motion, FTX said the alleged conduct puts "in serious question" a request by Bahamian regulators for recognition as liquidators in the bankruptcy. The appointment of the JPLs and recognition of the Chapter 15 Case are thus in serious question," the filing continued.

☆ Mariah Carey wanted to trademark 'Queen of Christmas' and 'Princess Christmas', but her application was rejected
▼ + stars: | 2022-11-16 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

The US Patent and Trademark Office rejected Mariah Carey's bid to trademark "Queen of Christmas". She told Variety: "Christmas is meant to be shared – it's not meant to be owned." Chan, a full-time festive singer-songwriter, was herself described as the "Queen of Christmas" by The New Yorker magazine in 2018. Carey's trademark application would have given her the legal right to stop others from using the festive titles on music and merchandise. Chan wasn't the only person to raise concerns about Carey's festive trademark application.

☆ Go read these wild DMs between Sam Bankman-Fried and a reporter, where the FTX founder reveals what he really thinks about his firm's implosion
▼ + stars: | 2022-11-16 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +1 min

Sam Bankman-Fried, founder and former CEO of cryptocurrency platform FTX, resigned on Friday. In an alleged DM exchange with a Vox reporter, Bankman-Fried said "fuck regulators" and that "they make everything worse." The exchange offers a window into Bankman-Fried's unfiltered views on regulators, his regrets, past statements he says he made for "PR," and what happened with the collapse of FTX. It includes eyebrow-raising quotes, like Bankman-Fried saying "fuck regulators," and that "they make everything worse." FTX, meanwhile, took to Twitter to say that Bankman-Fried doesn't speak for the company anymore since resigning from his role.

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