A Hard Fork in the Road: FTX’s Unraveling and Elon’s Loyalty Oath

The balance sheet contains an apology, the in-house coach is concerned that company executives are “undersexed” and billions in customer funds remain in jeopardy. The wreckage at FTX goes from bad to worse.Plus: Elon’s “extremely hardcore” plan for Twitter 2.0.Additional Resources:George K. Lerner, FTX’s in-house performance coach, said he was shocked by the collapse of FTX.In an interview with Matt Levine, a Bloomberg columnist, Sam Bankman-Fried described his strategy to restore faith in the crypto ecosystem.Bankman-Fried reflected on his actions as chief executive of FTX in a series of Twitter messages with Kelsey Piper, a Vox reporter.Elon Musk told Twitter employees in an email that the company would become an “extremely hardcore” operation. Employees were asked to click yes to be part of the new Twitter or take severance.Musk’s social calendar includes courting comedians and hopping on yachts.We want to hear from you. Email us at [email protected]. Follow “Hard Fork” on TikTok: @hardfork Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.