The chief executive of the largest global cryptocurrency exchange, plans to plead guilty to violating criminal U.S. anti-money-laundering requirements.

The Securities and Exchange Commission has told Paxos that it plans to sue the company for violating investor protection laws.

Prosecutors alleged the founder of the failed cryptocurrency exchange contacted a potential witness in his criminal case.

Facebook parent Meta is reportedly planning to lay off thousands of workers this week as the company's stock price has dropped 73% so far this year.