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November 8, 2022, 8:45 PM
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memeorandum
WeSmirchTop News
| Changpeng Zhao / @cz_binance: |
Binance CEO Changpeng Zhao says the company signed a non-binding letter of intent to 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 FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
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New York Times, coinbase.com, Semafor, Financial Times, Bloomberg, Bloomberg, TheStreet, The Block, Blockworks, The Block, Australian Financial Review, Decrypt, CoinDesk, Wall Street Journal, Ed Zitron's Where's Your Ed At, TechCrunch, CNBC, The Information, Forbes, Cointelegraph, SlashGear, Forkast, Reuters, The Good Contributor, BullRun Forever, Fortune, Web3 with TPan, BTC Times, The Daily Hodl, Mashable, Crunchbase News, Neowin, Quartz, BetaKit, Bitcoin News, ZyCrypto, CryptoSlate, Washington Post, CoinGape, Axios, and Finbold
Tweets: @sbf_ftx, @shaanvp, @cz_binance, @sbf_ftx, @ericnewcomer, @sbf_ftx, @cz_binance, @thestalwart, @sbf_ftx, @wassielawyer, @fintwit_news, @danprimack, @lizrhoffman, @arthur_0x, @robinwigg, @ftx_official, @chrisfralic, @hsakatrades, @danprimack, @sbf_ftx, @lizrhoffman, @tuurdemeester, @sbf_ftx, @robinwigg, @ranjanxroy, @carnage4life, @wallstreetsilv, @hodlkryptonite, @cryptohayes, @wallstreetsilv, @lizrhoffman, @algodtrading, @spreekaway, @marketsmeowmeow, @hodlkryptonite, @cobie, @cobie, @tier10k, @autismcapital, @evan_lorenz, @stackhodler, @elliotrades, @asvanevik, @cryptoharry_, @bondhack, @coffeebreak_yt, @odell, @lex_node, @stoolpresidente, @matthewstoller, @bongcapital, @biancoresearch, @arpitrage, @matthewstoller, @peter_tl, @fintechfrank, @byzgeneral, @paul_griffiths, @shaanvp, @buccocapital, @cobie, and @tomgara
| 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 of 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 …
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The Block, Newcomer, CoinDesk, TechCrunch, CNBC, Cointelegraph, and The Block
Tweets: @sbf_ftx, @thecryptodaddi, and @emilyjnicolle
| Sam Reynolds / CoinDesk: |
FTX's FTT token drops below $5, down ~80% in the past 24 hours, as crypto investors fear possible contagion from the collapse of FTX-linked Alameda Research — 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.
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BitDAO, NBC News, The Block, Bloomberg, Inside Bitcoins, Blockworks, Politico, Bitcoinist.com, Cointelegraph, and CryptoSlate
Tweets: @cz_binance, @benbybit, @starokg, @carolinecapital, @cryptomanran, @sbf_ftx, @alex_valaitis, @vetlelunde, @lookonchain, @milesdeutscher, @cz_binance, @claritytoast, @wublockchain, @wublockchain, @sheldon_sniper, @dogetoshi, @garyblack00, @emperorbtc, @mikeburgersburg, @milesdeutscher, @thecryptolark, @fintechfrank, @inmortalcrypto, @algodtrading, @bull_bnb, @wizardofsoho, @kacjons, @cryptodonalt, @enjoyoor, @0xboccaccio, @cobie, and @cumberlandsays
| Daniel Kuhn / CoinDesk: |
How Binance exacerbated a bank run on FTX before offering to acquire the company, and why the potential deal represents a meteoric fall for Sam Bankman-Fried — Binance, after exacerbating a bank run on rival crypto exchange FTX, offered to buy out the jewel in SBF's crown. — By Daniel KuhnLayer 2
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Bloomberg, The Information, CryptoSlate, Decrypt, Blockworks, Fortune, xuanling11's Free Newsletter, Wccftech, TIME, NewsBTC, and TheStreet
Tweets: @lucasnuzzi, @silvermanjacob, and @coindesk
| Matt Levine / Bloomberg: |
Questions about FTX's “liquidity crunch” and Binance's offer to buy the smaller exchange, likely for a fraction of its valuation of tens of billions of dollars — CZ vs. SBF — I kind of can't believe this worked? Here are Bloomberg's Philip Lagerkranser and Joanna Ossinger this morning:
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TechCrunch, The Block, Insider, Ars Technica, AMC Theatres, Blockworks, TheStreet, and Los Angeles Times
Tweets: @jordanuhl and @theashrb
| Tanaya Macheel / CNBC: |
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Reuters, TheStreet, The Block, Decrypt, CoinDesk, Blockworks, and Barron's Online
| Jay Peters / The Verge: |
Twitter plans to label select accounts “Official” when the new Blue launches; not all previously verified accounts will get the label, which won't be for sale — Twitter is rolling out another type of check mark to help distinguish accounts that users actually need to know are real.
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CNN, The Guardian, Engadget, XDA Developers, CNET, Techdirt, 9to5Mac, Reuters, CNBC, iPhone in Canada Blog, Comic Book, and SlashGear
Tweets: @esthercrawford, @esthercrawford, @esthercrawford, @yoyoel, @robleathern, @danny_2462, @docdre, @thejournalista, @howelldawdy, @_zeets, @acedtect, @ow, @caseynewton, @bborrman, @mattdpearce, @carnage4life, @parkermolloy, @mistresssnowphd, @dansinker, @legacykillahd, @jezcorden, @nanjala1, @tcarmody, @hunterwalk, @beijingpalmer, @un_a_valeable, @amyhoy, @urbanachievr, @ozkaterji, @jbillinson, @nbashaw, @kevinmarks, @epro, @0kbps, @mattdpearce, @jeffveillette, @bryandfischer, @evacide, @can, @oalexanderdk, @stevebartlettsc, @dcseifert, @muellershewrote, @zoeschiffer, @dcseifert, @kristoforlawson, @kurtwagner8, and @rmac18
| Wall Street Journal: |
Sources: Mark Zuckerberg told Meta staff that layoffs begin on November 9, he is accountable for missteps, and his overoptimism about growth led to overstaffing — Meta Platforms Inc. will begin laying off employees on Wednesday morning, Chief Executive Mark Zuckerberg told hundreds of executives on Tuesday.
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PYMNTS.com, The Guardian, CNN, Fortune, Protocol, Silicon Valley Business …, 9to5Mac, Insider, Reuters, The Information, The Block, Neowin, Livemint, and SlashGear
| 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 …
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European Commission, Reuters, Wall Street Journal, Washington Post, CNN, SlashGear, Android Headlines, The Verge, Neowin, OnMSFT.com, Engadget, BigTechWire, and FOSS Patents
Tweets: @tomwarren, @leadergrev, @charlieintel, @shannon_liao, @andyplaytonic, and @charlieintel
| Thomas Germain / Gizmodo: |
Research suggests Apple collects data about iPhone usage even when the iPhone Analytics setting to “disable the sharing of Device Analytics altogether” is off — For all of Apple's talk about how private your iPhone is, the company vacuums up a lot of data about you. iPhones … | Lauren Forristal / TechCrunch: |
Disney hit 235.7M global streaming subscribers in its Q4, above Netflix's 223.1M in its Q3; Disney+ had 164.2M subscribers, Hulu had 47.2M, and ESPN+ had 24.3M — Disney reported results for the final quarter of its 2022 fiscal year today, revealing a total of 164.2 million Disney+ global subscribers …
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The Walt Disney Company, CBS News, Thurrott, Los Angeles Times, The Verge, The Information, Reuters, Bloomberg, The Hollywood Reporter, Agence France-Presse, Adweek, CNN, Benzinga, New York Times, BBC, Axios, The Wrap, Yahoo Finance, Wall Street Journal, Wall Street Journal, Associated Press, MarketWatch, Light Reading, Deadline, IndieWire, Financial Times, BGR, CNBC, IGN, Variety, CNBC, and The Streamable
| Umar Shakir / The Verge: |
Zoom releases Mail and Calendar clients in beta as part of its Zoom One interface, announces an AI-powered Zoom Virtual Agent chatbot coming in 2023, and more — Available as a beta release, the Outlook-like Mail and Calendar will slot neatly into the company's new unified Zoom …
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Zoom Blog, Zoom Blog, SiliconANGLE, PCWorld, BigTechWire, PYMNTS.com, Thurrott, BGR, Neowin, and Engadget
Tweets: @newsynick and @zoom
| Mark Gurman / Bloomberg: |
Sources: turnover has hindered Apple's search for a new head of product design, leaving few obvious candidates for a department still in Jony Ive's shadow — Turnover at Apple Inc. has hindered efforts to replace the head of product design, leaving a gaping hole at the helm of a prominent team that's … | Kollen Post / The Block: |
The SEC wins its lawsuit arguing that decentralized publishing platform LBRY's token is subject to regulatory oversight, in a blow to crypto token issuance — - A New Hampshire district court has ruled against decentralized publishing platform LBRY in a legal battle with the SEC.
More:
CoinDesk, SEC.gov, Reuters, The Information, Reclaim The Net, and Reuters
Tweets: @attorneyjeremy1, @lex_node, @johnedeaton1, @lbrycom, @lbrycom, @jeremykauffman, @drnicka, @bitboy_crypto, and @lex_node
| Jon Keegan / The Markup: |
A look at data brokers selling “comprehensive” profiles of potential voters to campaigns, including phone geolocation data gleaned from real-time auctions — Before you got in line on Election Day, the emerging and largely unregulated political tracking industry was able to trace your movements| Takashi Mochizuki / Bloomberg: |
Nintendo reports Q2 operating profit of ~$809M, up from ~$685M YoY, thanks to a weakened yen, and cuts its fiscal year Switch sales forecast by 10% to 19M — Nintendo Co. shares fell as much as 6% on Wednesday after the company cut its fiscal-year forecast for Switch console sales by 10% to 19 million.
More:
Nintendo Investor Relations, The Verge, Kotaku, GamingBolt, and IGN
Tweets: @6d6f636869, @6d6f636869, @6d6f636869, and @andresegers
| Financial Times: |
Analysis: corporate diplomacy in China let Apple evade the tech crackdown and profit more than local tech giants, but exposes the company 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.| Kollen Post / The Block: |
The US Treasury's Office of Foreign Asset Control adds a designation to Tornado Cash that ties the crypto mixer to North Korea's nuclear weapons program — - The Treasury has re-designated Tornado Cash, tying the decentralized crypto mixer to North Korea's nuclear weapons program.
More:
U.S. Department …, Decrypt, The Record, CoinDesk, Cointelegraph, and Reuters. Tweets: @valkenburgh
| Ingrid Lunden / TechCrunch: |
NYC-based Laika, which offers companies an automated security compliance service, raised a $50M Series C led by Fin Capital, bringing its total funding to $98M — Compliance with privacy and security frameworks like SOC 2, HIPAA and GDPR has become a central component not just of how … | Ryan Mac / New York Times: |
As Twitter's problems mount, Elon Musk is tweeting 25+ times per day in November, up from ~13 times per day in April 2022 — The new owner of Twitter has embarked on a tweeting spree to push back, spar and justify his actions. — Ryan Mac, who is based in Los Angeles, writes about accountability in the technology industry.
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Wired, Axios, and CNBC
Tweets: @tuviae, @aaschapiro, @trippmickle, @meslackman, and @alexandraerin
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