The $68.7 billion acquisition would be the priciest-ever merger of technology companies.

Meanwhile, shares of Tesla are down 35% since he took over the social media platform Oct. 27.

The guilty pleas were announced as Bankman-Fried was being flown to the U.S. from the Bahamas by U.S. law enforcement to answer to charges tied to his role in FTX’s failure.

The government will release the personal consumption expenditure price index for November on Friday.

The S&P 500 index fell into a bear market by dropping more than 20% from the record high set in January.