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In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.

How A Secret Software Change Allowed FTX To Use Client Money

Dec 28, 2022 03:23 PM

4 mins read

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange’s software. He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.

Europe's Car Repairers Call For Competition Rules Rewrite

By Reuters

Dec 28, 2022 03:23 PM

The European Commission has recommended extending 2010's Motor Vehicle Block Exemption Regulation (MVBER) for five years when it expires in 2023, with some supplementary guidelines.

Tesla Driver In Multi-Car Crash Told Police Self-Driving Software Malfunctioned

By Reuters

Dec 28, 2022 03:23 PM

The police report said the vehicle made an unsafe lane change and was slowing to a stop, which led to another vehicle hitting the Tesla and a chain reaction of additional crashes.

Tesla Falls On Growing Angst Over Musk's Focus On Twitter

By Reuters

Dec 28, 2022 03:23 PM

Analysts say investors are worried that Musk may need to sell shares further to fund Twitter and sentiment around the acquisition of the social media firm could hurt the EV maker's brand.

Elon Musk's Vow To Not Sell More Tesla Stock Fails To Calm Investors

By Reuters

Dec 28, 2022 03:23 PM

Tesla shares are down 64% for the year, in what could be their worst annual performance since going public in 2010 as investors worry that Twitter was consuming much of the billionaire's time.

Israeli Startup Makes Inroads With Personal Flying Vehicle

By Reuters

Dec 28, 2022 03:23 PM

The test-phase voyage may not look out of the ordinary at first given the huge progress made in drone technology. Another propellered aircraft rising vertically off the ground and then thrusting forward high in the sky.

Investor In Musk's Twitter Buyout Expects To Make Up To Five Times Its Money

By Reuters

Dec 28, 2022 03:23 PM

One of the biggest investors in Musk's acquisition of Twitter, Aliya Capital Partners LLC, said it expects to make up to five times its money despite the social media company's problems.

TuSimple Plans To Layoff Half Its Workforce Next Week - Report

By Reuters

Dec 28, 2022 03:23 PM

Self driving trucking company TuSimple Holdings Inc plans to potentially cut half of its workforce next week.

Mahindra To Invest $1.2 Billion (Rs. 10,000 Crore) In New EV Plant

By Reuters

Dec 28, 2022 03:23 PM

Mahindra Ltd said it would invest 100 billion rupees ($1.21 billion) to set up an electric vehicle (EV) manufacturing plant near the western city of Pune.

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