he was initially unable to leave or board a flight after losing his papers and later stayed by choice. street artist banksy unveiling latest work on social media, a mural in the liberated ukrainian town. it depicts a female gymnast balancing on a pile of rubble on the side of the building damaged by russian strikes. new investigations into bankrupt crypto exchange ftx. a $32 billion company that collapsed in a matter of days. and republicans pointed fingers at donald trump for a disappointing midterm performance.
reporter: and now, according to the wall street journal, both the justice department and the securities and exchange commission, are investigating ftx and the man who ftx appointed as its new ceo is john ray iii, who helped manage the notorious energy firm enron after its collapse in accounting fraud scandal in 2001. brian todd, cnn, washington. reminder crypto is unregulated part of the market and you will see regulators stepping in here no question. this week, elon musk and tesla will be in court to defend the compensation plan that helped make him the richest person on the planet. tesla s board of directors approved the arrangement four years ago. it was valued at more than $50 billion. the plaintiff in the class action lawsuit on behalf of shareholders claims the huge pay package was unnecessary and that tesla s board and musk breached their fie douche yar duties. president s biden and xi meeting face to face. we ll hear from the president next on cnn this morning.
this comes after the company filed for bankruptcy, lost its ceo, cnn s brian todd has details. reporter: it wasn t long ago that sam bankman freed was called the mark zuckerberg of crypto, a modern day jp morgan, but in the span of a week, the 30-year-old wonder kin founder and ceo of ftx, the megapowerful crypto currency exchange has resigned, has lost his fortune, his firm s in bankruptcy, and by thursday, in a twitter thread to investors and customers, he was saying, quote, i m sorry. i fed up and should have done bedder. in some ways this collapse is the leemen brother s moment of the crypto world. it s a classic financial crisis. reporter: at its peak, ftx was worth $32 billion. it had backers like nfl superstar quarterback tom brady, his soon to be ex-wife supermodel gisele bundchen and naomi osaka.
once over $15 billion net worth, cratered to under 1 billion in a single day according to the bloomberg billionaire index. the nba s miami heat had its venue renamed as ftx arena just last year, but now that name is coming off the building. the immediate yoric collapse of ftx triggered when serious questions were raised about the health of its finances. those questions run on the bank-like cry smichs. clients rushed to withdraw several billion dollars worth of crypto currency from the exchange that then put ftx and sam bankman freed in a position where be he effectively his company ran out of money. would be extreme reporter: back in july when he did an interview with cnn business, sam discussed the danger of ponzi schemes in the crypto world; when you have something which is basically an empty product, i think is true of some places, some assets in crypto, you know, that is something where there s
miller will serve as the acting commissioner. president biden meeting right now with the president of china. what does xi jinping want from the u.s.? plus, a deadly collision between two vintage planes at an air show. what went wrong? new investigations into the stunning implosion of the crypto exchange ftx. are all around us.. not that one. that s thehe one. at university of phoenix,, you could earn your master s degree inin less than a year for under $11k. learn morere at phoenix.edu