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November 8, 2022, 1:55 PM
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@cz_binance:
Binance CEO Changpeng Zhao says the company signed a non-binding LOI to fully acquire FTX.com and help cover its liquidity crunch, pending due diligence  —  This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://ftx.com/ and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
More: Bloomberg, CoinDesk, New York Times, CoinDesk, The Block, Semafor, Decrypt, Engadget, The Guardian, The Information, SiliconANGLE, The Verge, Forbes, Wall Street Journal, Blockworks, Tech Monitor, Finbold, Protocol, The Economic Times, Financial Times, Wall Street Journal, Finextra, TechCrunch, Cointelegraph, Forbes, Crypto Daily, Coinpedia Fintech News, Ed Zitron's Where's Your Ed At, Bitcoinist.com, Bitcoin News, Fortune, CoinGape, Slashdot, Ethereum World News, Crypto Briefing, CryptoPotato, Axios, Reuters, CNBC, CryptoSlate, Monkey Business, NewsBTC, CryptoGlobe, Trustnodes, Web3 is going just great, and Protos
Tweets: @sbf_ftx, @cz_binance, @sbf_ftx, @chrisfralic, @sbf_ftx, @shaanvp, @robinwigg, @danprimack, @robinwigg, @ftx_official, @hsakatrades, @wassielawyer, @thestalwart, @lizrhoffman, @danprimack, @sbf_ftx, @sbf_ftx, @carnage4life, @arthur_0x, @erickschonfeld, @algodtrading, @odell, @mattzeitlin, @gladstein, @elliotrades, @cryptoharry_, @dougboneparth, @tracyalloway, @autismcapital, @crypto_chase, @cobie, @nouriel, @litcapital, @shaanvp, @monkeycharts, @timccopeland, @aridavidpaul, @tylercowen, @founderflori, @founderflori, @johnedeaton1, @simondixontwitt, @altcoinpsycho, @cryptohayes, @to, @hodlkryptonite, @hodlkryptonite, @hodlkryptonite, @noahpinion, @lex_node, @0xopaque, @marionawfal, @tomgara, @jillrgunter, @cz_binance, @lhm1, @wassielawyer, @benedictevans, @tier10k, @lawmaster, @autismcapital, @bongcapital, @nkulw, @evgenygaevoy, @thestalwart, @austen, @marionawfal, @abetrade, @olimpiocrypto, @0xhamz, @realmeetkevin, @aridavidpaul, @cryptodonalt, @dylanleclair_, @tensaicapital, @lizrhoffman, @claritytoast, @litcapital, @felixsalmon, @dylanleclair_, @mayazi, @mayazi, @zachweinberg, @epro, @evan_lorenz, @evan_lorenz, @219_eth, @aeyakovenko, @solanaspaces, @pitdesi, @bcbacker, @coldbloodshill, @arpitrage, @peter_tl, @saylor, @paul_griffiths, @levynews, @paul_griffiths, @ericnewcomer, @ljkawa, @claritytoast, @raoulgmi, @sbf_ftx, @bondhack, @lizrhoffman, @ashcryptoreal, @crypto_bitlord7, @marionawfal, @scottmelker, @ericnewcomer, @thinkingusd, @cobie, @dogetoshi, @haralabob, @cobie, @matthewstoller, @buccocapital, @dancow, @buccocapital, @danprimack, @canteringclark, @alistairmilne, @croesus_btc, @asvanevik, @coinmamba, @stoolpresidente, @cryptocapo_, @zachweinberg, @edzitron, @biancoresearch, @pkafka, @jaypinho, @marketsmeowmeow, @edzitron, @hsakatrades, @claritytoast, @tuurdemeester, @ericnewcomer, @seyitaylor, @coffeebreak_yt, @matthewstoller, @tphillips, @lessin, @byzgeneral, @hosseeb, @autismcapital, @stackhodler, @dominic_w, @wublockchain, @hsakatrades, @mrjasonchoi, @aeyakovenko, @adamscochran, @kadhim, @spreekaway, @tuurdemeester, @fiskantes, @silvermanjacob, @elliotrades, @autismcapital, @alexhern, @cobie, @thinkingusd, @macnbtc, @allnick, @iamdcinvestor, @ashcryptoreal, @otteroooo, @alex, @carnage4life, @carnage4life, @westcoastbill, @stockmktnewz, @nope_its_lily, @cz_binance, @alex, @carnage4life, @jvillalobos, @zerohedge, @ben_mckenzie, @alex, @tracyalloway, @joonian, @loganbartlett, and @bondhack
Sam Reynolds / CoinDesk:
FTX's FTT drops 45%+ to under $10 as investors fear possible contagion from the collapse of FTX-linked Alameda  —  The FTT price has declined nearly 14% over the past 24 hours, with Solana's SOL and Serum's SRM taking losses along with bigger cryptocurrencies like bitcoin and ether.
Angus Berwick / Reuters:
In a message to staff, FTX CEO Sam Bankman-Fried says withdrawals on FTX.com are “effectively paused” after FTX saw $6B in net withdrawals in 72 hours  —  Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message …
Andrew Rummer / The Block:
FTX CEO Sam Bankman-Fried says “FTX is fine” as Binance begins selling FTX's FTT token; an Alameda balance sheet leaked on November 2 showed $8B in liabilities  —  - FTX CEO Sam Bankman-Fried insisted his crypto exchange is “fine” after rival Binance announced it would start selling its holdings of FTX's FTT token.
Casey Newton / Platformer:
Sources: Elon Musk pitched charging most or all Twitter users for a subscription; internal estimates show Blue could lose the company ~$6/user/month in the US  —  Will he go through with it?  PLUS: Botched layoffs, how the new Blue could lose money, and more
Alex Heath / The Verge:
Source: Twitter tells advertisers the service added 15M+ mDAUs since the end of Q2, “crossing the quarter billion mark”; Musk also tweeted user numbers are up
Financial Times:
Analysis: Apple's corporate diplomacy in Beijing helped it evade crackdowns and kept its profits above China's tech giants but exposes it to supply chain shocks  —  The most profitable tech company operating in China is not a homegrown internet giant such as Alibaba or Tencent, but California-based Apple.
Stephanie Bodoni / Bloomberg:
The European Commission opens an in-depth investigation into Microsoft's proposed $69B Activision Blizzard acquisition and sets a March 23 decision deadline  —  Microsoft Corp.'s proposed $69 billion takeover of games developer Activision Blizzard Inc. faces an in-depth European Union probe …
Takashi Mochizuki / Bloomberg:
Nintendo reports Q2 operating profit of ~$809M, up from ~$685M YoY, and cuts its fiscal year Switch sales forecast by 10% to 19M; a weakened yen boosts results  —  Nintendo Co. cut its fiscal-year forecast for Switch console sales by 10% to 19 million after reporting earnings in line with expectations.
Jane Lanhee Lee / Reuters:
Nvidia offers Chinese customers the A800 GPU, which the company says meets US export control rules, as an alternative to the A100 that the US banned for export  —  U.S. chip maker Nvidia Corp (NVDA.O) said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed …
Joseph Menn / Washington Post:
An investigation shows TrustCor Systems, used by Chrome, Safari, and Firefox as a root certificate authority, has ties to US intelligence and law enforcement  —  TrustCor Systems vouches for the legitimacy of websites.  But its physical address is a UPS Store in Toronto.
Connie Loizos / TechCrunch:
Q&A with outgoing Y Combinator President Geoff Ralston on his decision to leave the accelerator, its investing capital sources, the market slowdown, and more  —  Last week at Web Summit, we were asked to interview outgoing Y Combinator President Geoff Ralston about the past, present, and future of the popular accelerator program.
Financial Times:
Sources: responding to a slowing economy and ad market, ByteDance overhauls TikTok's US operations, moving general manager Sandie Hawkins to TikTok Shop  —  Chinese-owned social platform makes sweeping leadership changes in its largest market  —  TikTok's US operations are undergoing …

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This is a Techmeme archive page. It shows how the site appeared at 1:55 PM ET, November 8, 2022.

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From Mediagazer

Ann Telnaes / Open Windows:
Ann Telnaes, a Pulitzer-winning WaPo editorial cartoonist since 2008, quits after she says her cartoon criticizing CEOs currying favor with Trump was killed

Aisha Malik / TechCrunch:
Apple offers Apple TV+ for free to anyone with an Apple ID this weekend, the first time it has offered such a promotion

Surbhi Misra / Reuters:
Filing: Skydance Media and Paramount Global defend their planned $8.4B merger, calling on the FCC to dismiss opposition from critics as lacking merit

More News

Earlier Picks

Oliver Knight / CoinDesk:
The US DOJ seized 50,676 bitcoins in November 2021, now worth ~$1B, from James Zhong, who pled guilty to wire fraud for taking the coins from Silk Road in 2012
Richard Lawler / The Verge:
Elon Musk says Twitter handles “engaging in impersonation without clearly specifying ‘parody’ will be permanently suspended” and there will be no more warnings
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