Ahead of the holidays and the New Year, former US National Security Agency (NSA) contractor, known around the world as a staunch privacy advocate and whistleblower, Edward Snowden, proposed to become the new CEO of Twitter after the current “Chief Twit”. Elon Musk has said he is resigning. In other news this week, hedge fund manager Michael Burry – of “The Big Short” fame – said audits of cryptocurrency exchanges like FTX and Binance were “meaningless”. Find out about these burning stories and more in this latest issue of Bitcoin.com’s News Week Review.
Elon Musk vows to step down as head of Twitter — Edward Snowden throws his name in the CEO’s hat
Tesla CEO and Twitter chief Elon Musk has vowed to step down as the head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, saying he accepts payment in bitcoin. “The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive,” Musk clarified.
FTX’s new CEO tells members of Congress that the SBF family “definitely received payments” from the company
According to multiple reports, the parents of FTX co-founder Sam Bankman-Fried are under scrutiny for their involvement in their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but current FTX CEO John J. Ray III recently told members of US Congress that Joseph Bankman and “the family had certainly received payments” from FTX.
‘Visibly Shaky’ FTX Co-Founder Slams ‘Lost Day’ in Court as Bahamian, US Legal Team Prepares for Extradition
FTX co-founder Sam Bankman-Fried (SBF) had a rough day in court on Monday, according to a number of accounts that SBF’s local attorney appeared to be at odds with his US legal team. Additionally, courtroom reports noted that SBF had dozed off for an extended period of time and had to be woken up by an official.
Top short-term investor Michael Burry says audits of crypto exchanges like Binance and FTX are ‘meaningless’
Hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new type of credit default swap. “Our listeners were learning on the job,” he described, adding that it was “not a good thing.”
What do you think of the hottest stories from last week on Bitcoin.com News? Be sure to let us know in the comments section below.
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