A US regulator says it is watching events at Twitter with "deep concern" after the platform's top privacy and compliance officers reportedly quit.

The Federal Trade Commission (FTC) said new chief executive Elon Musk was "not above the law". "No chief executive or company is above the law, and companies must follow our consent decrees."

Separately, Mr Musk reportedly told employees that bankruptcy is not out of the question for Twitter.

The company has been in disarray since Mr Musk started firing thousands of employees last week. Since taking charge, Mr Musk has fired former chief executive Parag Agrawal and other top management

The ability for users to buy verified status as part of a new subscription has raised concerns that Twitter could be swamped with fake accounts.

The departures may increase the risk of Twitter violating regulatory orders. The firm was fined $150m (£119m) in May for selling users' data, and had to agree to new privacy rules.

"We are tracking recent developments at Twitter with deep concern," Douglas Farrar, the FTC's director of public affairs, said.