A lawyer for FTX said that a “substantial amount of assets have either been stolen or are missing” from FTX and its related companies in a bankruptcy hearing Tuesday. “What we have here is a worldwide, international organization but which was run as a personal fiefdom of Sam Bankman-Fried,” said James Bromley, a partner at Sullivan & Cromwell who is representing FTX. Bromley also added...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals. As Musk has...
Twitter Valued at $20 Billion in New Employee Stock Grant
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