Kraken, one of the world's largest cryptocurrency exchanges, was sued on Monday by the U.S. Securities and Exchange Commission, which accused it of illegally operating as a securities exchange without first registering with the regulator.

While it is known that FTX moved customer funds to Sam Bankman-Fried's Alameda trading desk, the missing funds are reported here for the first time. The financial hole was revealed in records that 'SBF' shared with other senior executives a week ago.

Meta Platforms told employees on Friday that 54% of the 11,000 jobs it cut earlier this week were business roles and the rest were in technology.