Elon Musk made it official: He believes Twitter violated the terms of their merger aggreement and intends to back out of the $44 billion deal, Musk said in a letter to Twitter’s top attorney on Friday. Now Twitter is preparing for a court battle to force Musk to complete the acquisition after hiring Wachtell, Lipton, Rosen & Krantz, a white-shoe law firm, to help with the case, according to...
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Why the CFTC’s Binance Lawsuit Is Good News for Coinbase
Privately held crypto exchanges are setting new lows in corporate governance. If you thought the initial bankruptcy filing for Sam Bankman-Fried’s FTX was stunning in what it revealed about how that company was run, check out the Commodity Futures Trading Commissions lawsuit against Binance today. Here’s a business empire controlled by one person, Changpeng Zhao, which has no board of directors...
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