A Verified Mess: Turmoil from Twitter to FTX
This week, we go inside Elon Musk’s “dire” warnings, FTX’s spectacular collapse and Meta’s big layoffs. Has the tech industry lost its mind?
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- Elon Musk told Twitter employees the company faced a bleak financial picture in a meeting with staff on Thursday and in his first companywide emails.
- The world’s largest crypto exchange, Binance, said it had reached a deal to buy its competitor FTX, which was on the verge of collapse. The news about FTX had left crypto investors scrambling.
- Is the collapse of FTX crypto’s Lehman Brothers moment?
- Meta announced layoffs of 11,000 employees, accounting for about 13 percent of its work force.