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In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of twitter on a mobile phone in Ankara, Turkiye on October 06, 2022.

Muhammed Selim Korkutata | Anadolu Agency | Getty Images

When Tesla and SpaceX CEO Elon Musk took over at Twitter, showing up at headquarters on Oct. 27, 2022, online trolls and bigots raided the social network, polluting it with a deluge of racist epithets and other hate speech.

But a new study from the non-profit Network Contagion Research Institute (NCRI) and Rutgers finds that Twitter’s safety team responded better to that “raid” than the company did to a similar event in April 2022.

According to NCRI’s CEO Adam Sohn, a raid is when bad actors online engage in coordinated activity to try to disrupt social media platforms, usually to harm marginalized people or specific targets.

GamerGate is probably the most infamous raid, and took place around 2014 when 4Chan trolls who were a part of the video game community lobbed misogynistic attacks against women who were in the industry. They specifically targeted one woman and critic who had spoken out about sexist tropes in games. Their campaign was waged across myriad social platforms including Twitter and Reddit, and manifested in real world rape and death threats, and a bomb scare targeting the critic.

Conspiracy-driven communities online are also known to use raid tactics.

Some people engage in so-called “inauthentic” activity on social networks just to see if they can get away with it (“for the lulz”).

NCRI analyst Alex Goldenberg says that while Twitter’s action in response to the hate speech last week was effective, the company could have forecast and prevented it, too.

Hours before the deluge of hate speech, he said, “We assessed that this particular online troll campaign was being driven by coordinated, inauthentic activity that originated specifically on 4Chan. There, we detected a surge in mentions of the n-slur in tandem with mentions of Twitter.”

NCRI uses sophisticated machine learning software and systems to monitor huge amounts of social network content, and to track rising hatred and threats against marginalized groups online, including Black, Jewish, Hindu and Muslim people.

It makes research tools available and publishes reports, safety recommendations and warnings, sometimes delivering them directly to social networks, about where threats are rising, and may be likely to spill over into the physical world. According to Sohn, NCRI’s hope is to use this information to prevent real-world harm those online efforts.

NCRI was previously able to forecast an uptick of violence against Asian Americans as the Covid pandemic emerged, and identify an imminent threat from an anti-government group (the Boogaloo Boys) against law enforcement personnel. They also warned of the rise of communities encouraging self-harm, primarily cutting, on Twitter.

What NCRI found this time

The NCRI found that in the 12 hours after Musk arrived at Twitter headquarters, the use of an anti-Black epithet (the n-word) on the social network increased nearly 500% from the previous average. NCRI published this quick study the next morning as Musk’s deal officially closed.

For the new study, NCRI dug back into the historic data. The firm found that when Musk first disclosed that he had agreed to buy Twitter for $54.20 per share, back in April 2022, a similar raid had occurred.

Comparing the two events, NCRI found that Twitter did a better job stopping the raid this time.

“While nearly half of the accounts recently disseminating the n-slur have been suspended, less than 10% of accounts had been suspended in the previous raid, suggesting this is a historical problem predating the purchase with historically uneven enforcement.”

Despite Twitter’s forceful response to the hate speech, some damage had already been done.

Several advertisers have paused spending on Twitter for now until they can get a better indication of how Musk will deliver on his promise to keep it “warm and welcoming” and prevent it from becoming a “free-for-all hellscape.”

Among those who have quit Twitter for now are Shonda Rhimes, who is the creator of “Grey’s Anatomy,” “Bridgerton” and other hit TV shows, Grammy-winning singer and songwriter Sarah Bareilles, and actor and “This Is Us” producer Ken Olin.

Others are waiting to see where Musk and his teams take the product, but have threatened they may leave depending on the results.

Basketball icon LeBron James expressed his concern about the rise in racist tweets, and Musk replied to him on Twitter with a link to a thread from the social network’s current head of safety, Yoel Roth. The long-time Twitter exec said their teams had taken steps to quash accounts that were responsible for a huge portion of the attacks.

NCRI’s analysis confirms that the steps Roth and the safety team took were effective.

In the future, NCRI would like to see greater use of “automated anomaly detection,” technology commonly used in cybersecurity to monitor network performance, or to detect when somebody may be trying to hack into a company’s systems, says NRCI’s lead intelligence analyst Alex Goldenberg.

Anomaly detection applied in social media would have let Twitter take preventative action once the planned raid was initially detected.

Goldenberg and Sohn compare this technology to a smoke detector or carbon-monoxide detector for social problems brewing online.

While Musk has billed himself as a free speech absolutist, his track record defending other’s rights is mixed. More recently, he has acknowledged a need to balance free speech ideals with trust and safety on Twitter.

One thing he has not promised to do publicly is take better care with his own tweets.

Musk has a history of posting unfounded conspiracy theories, comments and jokes that have been widely interpreted as sexist, anti-LGBTQ, racist or antisemitic. Memorably, he has posted Hitler memes to his widely followed Twitter account.

Just after he took over Twitter, Musk shared an unfounded, anti-LGBTQ conspiracy theory about a home invasion and assault on Paul Pelosi, husband of the speaker of the House Nancy Pelosi. Musk later deleted the tweet without an explanation.

He currently boasts 113.7 million listed followers on the platform, a number that’s rapidly growing.

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Gemini, the Winklevoss’ crypto exchange, pops more than 40% in Nasdaq debut

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Gemini, the Winklevoss' crypto exchange, pops more than 40% in Nasdaq debut

Gemini Co-founders Tyler Winklevoss and Cameron Winklevoss attend the company’s IPO at the Nasdaq MarketSite in New York City, U.S., Sept. 12, 2025.

Jeenah Moon | Reuters

Shares of Gemini Space Station soared more than 40% on Thursday after the exchange operator raised $425 million in an initial public offering.

The stock opened at $37.01 on the Nasdaq after its IPO priced at $28. At one point, shares traded as high as $40.71.

The New York-based company priced its IPO late Thursday above this week’s expected range of $24 to $26, and an initial range of between $17 and $19. That valued the company at some $3.3 billion before trading began.

Gemini, which primarily operates as a cryptocurrency exchange, was founded by the Winklevoss brothers in 2014 and held more than $21 billion of assets on its platform as of the end of July. Per its registration with the Securities and Exchange Commission, Gemini posted a net loss of $159 million in 2024, and in the first half of this year, it lost $283 million.

The company also offers a U.S. dollar-backed stablecoin, credit cards with a crypto-back rewards program and a custody service for institutions.

Gemini co-founders Tyler & Cameron Winklevoss: Bitcoin is gold 2.0, can easily go 10x from here

The Winklevoss brothers were among the earliest bitcoin investors and first bitcoin billionaires. They have long held that bitcoin is a superior store of value than gold. On Friday morning, they told CNBC’s “Squawk Box” they see its price reaching $1 million a decade from now.

In 2013, they were the first to apply to launch a bitcoin exchange-traded fund, more than 10 years before the first bitcoin ETFs would eventually be approved. The Securities and Exchange Commission’s rejection of the application, which cited risk of fraud and market manipulation, set the stage for the bitcoin ETF debate in the years to come.

Even in the early days, when bitcoin was notorious for its extreme volatility and anti-establishment roots and shunned by Wall Street, the Winklevoss brothers were outspoken about the need for smart regulation that would establish rules for the crypto-led financial revolution.

Don’t miss these cryptocurrency insights from CNBC Pro:

(Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here.)

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Opendoor board chair Rabois says company is ‘bloated,’ needs to cut 85% of workforce

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Opendoor board chair Rabois says company is 'bloated,' needs to cut 85% of workforce

Opendoor chairman Keith Rabois: We're going to get back to merit and excellence

Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a “bloated” workforce have been a drag on the company’s culture, as he vowed to slash headcount.

“There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois told CNBC’s “Squawk on the Street” on Friday.

The online real-estate platform on Wednesday appointed former Shopify executive Kaz Nejatian as its new CEO after investor pressure caused his predecessor, Carrie Wheeler, to resign last month. Opendoor also named Rabois as chairman and said Eric Wu, who served as the company’s first CEO before stepping down in 2023, would return to the board.

The announcement sent Opendoor shares soaring 78% on Thursday, before the stock slid more than 12% on Friday. It is still up almost 500% this year, after an army of retail investors pushed up the stock price when hedge fund manager Eric Jackson began touting the company.

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Opendoor year-to-date stock chart.

Opendoor’s business involves using technology to buy and sell homes, pocketing the gains.

Nothing has fundamentally improved for the company since Jackson bought shares of Opendoor in July. Opendoor remains a cash-burning, low-margin business with meager near-term growth prospects.

Rabois said he has a “high level view of the strategy” that’s needed to transform Opendoor, and that the headcount reductions are necessary to resolve the company’s cash burn.

“The culture was broken,” Rabois said. “These people were working remotely. That doesn’t work. This company was founded on the principle of innovation and working together in person. We’re going to return to our roots.”

He added that Opendoor “went down this DEI path,” referring to diversity, equity and inclusion.

“We’re gonna fix all that,” Rabois said.

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Joby and Archer join FAA’s eVTOL pilot testing program

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Joby and Archer join FAA's eVTOL pilot testing program

Courtesy: Archer Aviation

The Federal Aviation Administration said Friday it is launching a pilot program to speed up the rollout of air taxis.

Archer Aviation and Joby Aviation, major players in the electric vertical takeoff and landing, or eVTOL, space, said they are participating in the program. Shares of each were higher on Friday.

The program will establish at least five projects through public-private partnerships with state and local governments to promote safe usage of eVTOL aircraft.

“The next great technological revolution in aviation is here,” said U.S. Transportation Secretary Sean Duffy in a release. “The United States will lead the way, and doing so will cement America’s status as a global leader in transportation innovation.”

Archer said supervised trials could begin in the U.S. as soon as next year, ahead of FAA certification. Joby is set to begin FAA flight testing early next year.

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The announcement follows President Donald Trump‘s executive order in June that included the creation of an eVTOL pilot program to foster safe development and deployment in the U.S.

Proponents of eVTOL have touted the technology as a method to slash emissions and ease traffic. Archer, Joby and their competitors have been steadily working toward FAA approval.

Joby called the program a “critical step” in the path toward widespread air taxi service in the U.S. Archer CEO Adam Goldstein dubbed the announcement a “landmark moment” that allows the company to work with partners such as United Airlines to trial aircraft.

“These early flights will help cement American leadership in advanced aviation and set the stage for scaled commercial operations in the U.S. and beyond,” he wrote.

Both companies have made strides testing their products through partnerships in the Middle East.

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eVTOLS: Are flying cars finally becoming reality?

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