Marvel’s “Black Panther” is viewed by many as a win for the culturethat T'Challa and his community represent. What happens when the actor who played T'Challa is gone?
"Black Panther: Wakanda Forever" earned $180 million across North American theaters since its Friday release, making it the second biggest opening of the year, AP reports.
Why it matters: "Wakanda Forever" represents the final opportunity for Disney, and the general box office, to make up for a slow summer.
The alleged crypto transfers from FTX to Alameda Research were explicitly forbidden under the cryptocurrency's exchange‘s terms of service.
Why it matters: The arrangement effectively lit the fuse on thestunning collapse that led FTX to file for bankruptcy on Friday. The fact that the platform promised to users it would not use customer funds, or put them at risk, could raise the stakes for executives who did just that.
After laying off half its staff earlier this month, Twitter on Saturday started culling its vast ranks of contract staff, sources confirmed to Axios.
Why it matters: Like many companies, Twitter's staff is made up of a mix of full-time employees as well as contract workers who work for a third party.
A cybercriminal appears to have attempted to steal $400 million of customer funds from the crypto exchange FTX as the platform grapples with its bankruptcy, alongside widening questions about its business practices.
Why it matters: Many consumers, companies and crypto projects have their funds trapped on the exchange while bankruptcy proceedings begin. They are anxiously waiting to see how much they will get back, and how soon.
Meanwhile, the exchange has allegedly lost a considerable amount of customer funds in loans to its sister company, Alameda Research.
A hack suggests there will be even less left over to distribute among customers.
The Block reported that $400 million worth of cryptocurrency had been stolen.
Context: Cryptocurrency holdings are all viewable on the blockchain to anyone who knows how to look, and FTX's assets are some of the most watched funds in the world right now.
As the irregular activity began, users began noticing immediately. FTX US general counsel Ryne Miller confirmed on Twitter that the movements of funds were not intentional.
One Twitter user followed the funds and detailed several ways the attacker lost funds through various trades as they attempted to cover their tracks on chain.
What they're saying: "Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital assets to cold storage. Process was expedited this evening - to mitigate damage upon observing unauthorized transactions," FTX US general counsel Miller tweeted overnight.
Be smart: There are two stories right now that might be confusing: allegedly improperly used funds by FTX and Alameda, and the hack that happened over the last 24 hours. These aren't the same.
What we're watching: Experienced observers are saying the perpetrator has already been identified. If law enforcement is able to access the person (or people), that improves the chances of recovering at least some of the stolen money.
Actor Alec Baldwin filed a lawsuit Friday in California against individuals of the “Rust” film crew, alleging there was wrongdoing on the set that led to the accidental shooting and death of Halyna Hutchins.
The big picture: This is the first time Baldwin has thrown allegations of wrongdoing against someone connected to the film.
There are two stories playing out in the media right now about improper use of funds at FTX, the formerly high-flying crypto platform that stunned markets this week in a spectacular meltdown that unfolded within mere days. A casual reader could easily confuse them.
Why it matters: The bankruptcy of the crypto exchange FTX, led by celebrity CEO Sam Bankman-Fried, is one of the biggest stories in the business world right now, but to understand it readers need to be able to keep its many threads untangled.
Details: Observers are following two separate cases of FTX customer funds improperly leaving the exchange.
FTX allegedly improperly loaned customer funds to Alameda Research, its sister firm which trades cryptocurrency. Much of this appears to have simply been lost in bad trades, but Reuters reports $1 billion cannot be accounted for.
Overnight, someone stole $400 million of remaining funds at FTX.
By the numbers: Bitcoin, the cryptocurrency market's bellwether, is now down about 25% from its price before FTX began to unwind following a damning report by CoinDesk.
What we're watching: The most important question for consumers and companies that had funds on the exchange is how much will ultimately be recovered through the bankruptcy process.
Everyone who had funds on FTX when it halted withdrawals is likely to come up short when the process is finalized.
Elon Musk is using the same leadership playbook at Twitter that he has at his other companies. It's proving to be a costly mistake.
What to know: Musk has a well-earned reputation for being among the most demanding and capricious bosses in the history of corporate America. Past and present employees tell of being assigned tasks with cost or timeline objectives that seem impossible, often with their jobs hanging in the balance.
U.S. prosecutors said Friday that Theranos founder Elizabeth Holmes should receive 15 years in prison and pay $800 million in restitution to the investors defrauded through her blood-testing company, per Reuters.
Why it matters: Holmes, who was found guilty of conspiracy and fraud against certain investors earlier this year, is set to be sentenced next week.
The use of racial slurs on Twitter has soared since Elon Musk's takeover, a new report has found.
Why it matters: Twitter has made it clear on multiple occasions that there would be a decline in the hateful and racist language since Musk took over. But these claims don't "stand up to scrutiny," according to the report from the Center for Countering Digital Hate.
The world’s wealthiest economy — with the deepest and most liquid market — is a riskier place than it used to be for investors. And politics is a big reason.
Why it matters: “Political risk” is an investment thesis used to evaluate developing economies with histories of weak governance and social instability.
