Musk warns Twitter could face bankruptcy

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Musk warns Twitter could face bankruptcy
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Twitter's new owner, Elon Musk, has raised the possibility of the social media platform going bankrupt.

Elon Musk, has raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US privacy regulator and the exit of the company’s trust and safety leader.

In his Twitter profile on Thursday, Roth described himself as “Former Head of Trust & Safety” at the company. Roth did not respond to requests for comment. Bloomberg and tech site Platformer reported his exit first. Musk attorney Alex Spiro told some employees in an e-mail late on Thursday that Twitter would remain in compliance. “We spoke to the FTC today about our continuing obligations and have a constructive ongoing dialogue,” Spiro wrote. He stated that only Twitter, not individual employees, could be held liable against the orders.

Twitter, Musk and Spiro did not respond to requests for comment on a potential bankruptcy, the FTC warning or the departures. Musk has begun charging $8/month for the Twitter Blue service that will include a blue checkmark verification.“We are tracking recent developments at Twitter with deep concern,” Douglas Farrar, the FTC’s director of public affairs. “No CEO or company is above the law, and companies must follow our consent decrees. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them.

Twitter’s buyout has sparked concerns that Musk, who has often waded into political debates, could face pressure from countries trying to control online speech.It prompted US President Joe Biden to say on Wednesday that Musk’s “cooperation and/or technical relationships with other countries is worthy of being looked at”.

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