The Latest Breaking News from FTX

Social media users shared a range of false claims this week

Plus: Twitter is alive and well, the U.K. considers unprecedented tax hikes, and more...

Out of nowhere, 30-year-old Sam Bankman-Fried became a billionaire mover and shaker in the world of cryptocurrency. Careful to make friends of powerful Democrats and media columnists alike, he threw money around the halls of Congress — and everywhere else he went — while threatening to disrupt Chicago’s financial futures…

Crypto exchange FTX was valued at more than $30 billion just weeks ago. Now it's in bankruptcy proceedings

Here's your TL;DR for today's news.

The man appointed to administer the collapsed crypto exchange in chapter 11 bankruptcy, who oversaw the clean-up after Enron's collapse, says he has never seen "such a complete failure of corporate controls".

“I think, what it boils down to from all the information we have [and] this bankruptcy report that has now been released is that FTX and SBF are complete frauds—not just frauds, but thieves,” David Ripley, incoming CEO at Kraken, tells Fortune.

Miami Heat are looking for a new naming partner for their stadium following the collapse of FTX, the third-largest cryptocurrency exchange in the world - and a strip club has joined the race

LOS ANGELES — This should be a banner week for Shohei Ohtani, baseball's truly global superstar.