Ahead of the holidays and the new year, the former contractor of the US National Security Agency (NSA), who is known to the world as a privacy advocate and whistleblower, Edward Snowden, has offered to become the new CEO of Twitter, succeeding the current “Chief Twit”. Elon Musk has announced that he is leaving his position. In other news this week, hedge fund manager Michael Berry of “The Big Short” fame said that audits of cryptocurrency exchanges such as FTX and Binance “make no sense.” Check out these hot stories and more right below in this latest issue of Bitcoin.com News Week Review.
Elon Musk promises to leave the position of head of Twitter. Edward Snowden has put his name on the CEO’s hat
Tesla CEO and Twitter boss Elon Musk has promised to step down as head of Twitter. As the billionaire looks for a new CEO to lead the social media platform, privacy advocate Edward Snowden has thrown his name into the hat by announcing he’s paying in bitcoin. “The issue is not finding a CEO, the issue is finding a CEO who can keep Twitter alive,” Musk explained.
FTX’s new CEO told members of Congress that SBF family members “definitely received payments from the business.”
According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents are under scrutiny over their involvement in their son’s business operations. 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 the US Congress that Joseph Bankman and “family certainly received payments” from FTX.
‘Visibly shocking’ FTX co-founder has ‘bad day’ in court as Bahamian, US legal team prepares for extradition
FTX co-founder Sam Bankman-Fried (SBF) had a tough day in court on Monday, according to multiple accounts, with SBF’s local lawyer appearing to be at odds with his US legal team. Furthermore, the courtroom reports stated that the SBF fell asleep for a long time and had to be woken up by an official.
Major short investor Michael Berry says audits of crypto exchanges like Binance and FTX “make no sense.”
Michael Berry, the hedge fund manager known for predicting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges such as Binance and FTX is the same as when he started using a new type of credit default swap. : “Our auditors were learning on the job,” he described, adding that it was “not a good thing.”
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