FTC likely to file lawsuit to block Microsoft bid for Activision -Politico

FTC likely to file lawsuit to block Microsoft bid for Activision -Politico

Nov 23 (Reuters) – The U.S. Federal Trade Commission (FTC) is likely to file an antitrust lawsuit to block Microsoft Corp’s (MSFT.O) $69 billion takeover bid for video game publisher Activision Blizzard Inc (ATVI.O), Politico reported on Wednesday, citing people familiar with the matter. A lawsuit challenging the deal is not guaranteed, and the FTC’s … Read more

Trump rebuffed by judge in New York fraud lawsuit, trial date set

Trump rebuffed by judge in New York fraud lawsuit, trial date set

NEW YORK, Nov 22 (Reuters) – A New York judge has scheduled an October 2023 trial to form US President Donald Trump, three of his adult children and the Trump Organization in a lawsuit brought by New York Attorney General Letitia James accusing them of fraudulently overvaluing the real estate company’s assets and Trump’s net … Read more

NBA champion Golden State Warriors are sued over FTX collapse

NBA champion Golden State Warriors are sued over FTX collapse

Nov 21 (Reuters) – The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action lawsuit in San Francisco federal court on behalf of “thousands, if … Read more

FTX’s Sam Bankman-Fried cashed out $300 million during funding spree – WSJ

FTX’s Sam Bankman-Fried cashed out 0 million during funding spree – WSJ

Nov 18 (Reuters) – FTX founder Sam Bankman-Fried sold a stake in the company worth $300 million when the crypto exchange raised capital last year, the Wall Street Journal reported on Friday, citing the firm’s financial records and people familiar with the transaction. At the time, Bankman-Fried told investors it was a partial reimbursement of … Read more

Musk’s all-nighters at Twitter raise concern for Tesla investors

Musk’s all-nighters at Twitter raise concern for Tesla investors

SAN FRANCISCO, Nov 15 (Reuters) – In 2018, Elon Musk was working through the night and sleeping at Tesla Inc’s (TSLA.O) factories in California and Nevada as the company struggled to ramp up production of the Model 3. On Monday, Musk said he had worked through the night at Twitter’s San Francisco headquarters and would … Read more

Factbox: From Binance to Voyager, crypto firms’ exposure to FTX is coming to light

Factbox: From Binance to Voyager, crypto firms’ exposure to FTX is coming to light

LONDON, Nov 14 (Reuters) – After major crypto exchange FTX filed for US bankruptcy protection on Friday, the crypto industry is bracing for further fallout. Some of FTX’s investors have said they are writing their investment down to zero. Other crypto firms may be exposed to FTX by having held tokens on the exchange or … Read more

FTX collapse being scrutinized by Bahamas investigators

FTX collapse being scrutinized by Bahamas investigators

Nov 13 (Reuters) – The collapse of FTX is the subject of scrutiny from investigators in the Bahamas, who are looking at whether any “criminal misconduct occurred,” the Royal Bahamas Police said on Sunday. FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from … Read more

Alameda, FTX executives knew crypto exchange was using customer funds – WSJ

Alameda, FTX executives knew crypto exchange was using customer funds – WSJ

Nov 12 (Reuters) – FTX-affiliated crypto trading firm Alameda Research’s Chief Executive Officer Caroline Ellison and senior FTX officials knew that the crypto exchange had lent Alameda its customer funds to help meet liabilities, the Wall Street Journal reported on Saturday. Reuters reported Friday that FTX founder and former CEO Sam Bankman-Fried had secretly transferred … Read more

FTC watching Twitter security execs exits with ‘deep concern’

FTC watching Twitter security execs exits with ‘deep concern’

Nov 10 (Reuters) – The US Federal Trade Commission said on Thursday it was watching Twitter with “deep concern” after the social media platform’s top privacy and compliance officers quit, potentially putting it at risk of violating regulatory orders. The company’s chief security officer Lea Kissner on Thursday in a tweet said that she quit. … Read more

Musk sells Tesla shares worth $3.95 bln days after Twitter takeover

Musk sells Tesla shares worth .95 bln days after Twitter takeover

Nov 8 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk has sold 19.5 million shares of the electric vehicle maker worth $3.95 billion on Tuesday, according to US securities filings, days after he completed the $44 billion takeover of Twitter Inc. Musk, the world’s richest man, had about $20 billion in cash after … Read more