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November 8, 2022, 12:40 PM
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memeorandum
WeSmirchTop News
| @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, The Block, Finbold, CoinDesk, Protocol, The Economic Times, New York Times, CoinDesk, Wall Street Journal, TechCrunch, Decrypt, Fortune, Slashdot, Financial Times, Cointelegraph, Axios, Reuters, CNBC, CryptoPotato, CryptoSlate, Semafor, CryptoGlobe, Trustnodes, Web3 is going just great, and Protos
Tweets: @sbf_ftx, @sbf_ftx, @sbf_ftx, @shaanvp, @robinwigg, @ftx_official, @wassielawyer, @thestalwart, @sbf_ftx, @carnage4life, @cz_binance, @timccopeland, @chrisfralic, @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, @danprimack, @austen, @marionawfal, @abetrade, @olimpiocrypto, @0xhamz, @realmeetkevin, @aridavidpaul, @cryptodonalt, @dylanleclair_, @tensaicapital, @lizrhoffman, @claritytoast, @litcapital, @felixsalmon, @dylanleclair_, @mayazi, @mayazi, @zachweinberg, @epro, @evan_lorenz, @evan_lorenz, @danprimack, @219_eth, @aeyakovenko, @solanaspaces, @pitdesi, @bcbacker, @coldbloodshill, @arpitrage, @peter_tl, @saylor, @paul_griffiths, @levynews, @paul_griffiths, @ericnewcomer, @ljkawa, @claritytoast, @raoulgmi, @bondhack, @lizrhoffman, @ashcryptoreal, @crypto_bitlord7, @marionawfal, @scottmelker, @ericnewcomer, @thinkingusd, @cobie, @dogetoshi, @haralabob, @cobie, @matthewstoller, @buccocapital, @dancow, @buccocapital, @danprimack, @hsakatrades, @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, @arthur_0x, @cobie, @thinkingusd, @macnbtc, @allnick, @iamdcinvestor, @ashcryptoreal, @otteroooo, @alex, @carnage4life, @carnage4life, @westcoastbill, @stockmktnewz, @nope_its_lily, @cz_binance, @sbf_ftx, @alex, @carnage4life, @jvillalobos, @zerohedge, @ben_mckenzie, @alex, @tracyalloway, @joonian, @sbf_ftx, @loganbartlett, and @bondhack
| Sam Reynolds / CoinDesk: |
FTX's FTT drops ~20% to around $18 as investors fear possible contagion from the collapse of FTX-linked Alameda; Nansen shows FTX outflows reached $450M+ — 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.
More:
BitDAO, Bloomberg, Cryptonews, The Block, CoinDesk, Bloomberg, CoinJournal, The Crypto Basic, Cointelegraph, CoinGape, CoinDesk, Bitcoin News, and CoinGeek
Tweets: @carolinecapital, @benbybit, @carolinecapital, @vetlelunde, @alex_valaitis, @lookonchain, @cz_binance, @claritytoast, @wublockchain, @wublockchain, @alex_valaitis, @sheldon_sniper, @runnerxbt, @garyblack00, @emperorbtc, @mikeburgersburg, @milesdeutscher, @thecryptolark, @fintechfrank, @inmortalcrypto, @algodtrading, @bull_bnb, and @wizardofsoho
| Yogita Khatri / The Block: |
On-chain data from Ethereum, Tron, and Solana: FTX appears to have stopped processing withdrawal requests, starting at 6:37am ET for ether — - Crypto exchange FTX seems to have stopped processing withdrawal requests, according to on-chain data. — The last outgoing transaction …
More:
SiliconANGLE, TechCrunch, Protos, CryptoSlate, CNBC, Crypto Briefing, Bitcoinist.com, and CryptoPotato
| 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.
More:
Bloomberg, CoinDesk, Protocol, Decrypt, CryptoSlate, and Bitcoin Magazine
| 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
More:
Insider, Mashable, Fortune, Thurrott, 9to5Mac, MobileSyrup, CNBC, Howard Lindzon, Marques Brownlee on YouTube, Neowin, Vox, and TheGamer
Tweets: @caseynewton, @nickstatt, @zoeschiffer, @shaun_vids, @ow, @clarajeffery, @theinnersunset, @jordanuhl, @joshtpm, @mat, and @kevinriggle
| Jonathan Vanian / CNBC: |
Early Twitter investor Chris Sacca says Elon Musk is “alone right now and winging this” and needs people around him willing to “speak some truth to power” — - Venture capitalist Chris Sacca was one of Twitter's first investors and an early user.| Alex Heath / The Verge: |
More:
ZDNet, USA Today, Insider, Finbold, Financial Times, Fortune, MobileSyrup, SlashGear, Marketing Brew, TechCrunch, and MacDailyNews
Tweets: @elonmusk, @alexeheath, @caseynewton, @alexeheath, and @shiringhaffary
| 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.
More:
New York Times, AppleInsider, 9to5Mac, and Philip Elmer‑DeWitt
Tweets: @professorfengli, @patrickmcgee_, @patrickmcgee_, @byron_wan, @niubi, and @tonytassell
| Mark Gurman / Bloomberg: |
Sources: Apple's search for a new product design lead has been hindered by high turnover, leaving few 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 …
More:
MacRumors, AppleInsider, 9to5Mac, iMore, and BGR
| 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.
More:
Nintendo Investor Relations, The Verge, Thurrott, TechRadar, GameSpot, GameRevolution, and Game Developer
Tweets: @6d6f636869, @6d6f636869, and @6d6f636869
| Ryan Mac / New York Times: |
As Twitter's problems mount, Elon Musk is on pace to tweet over 750 times in November, or more than 25 times a day, up from around 13 per day in April — 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 … | Steven Levy / Wired: |
Inside Meta's Oversight Board after two years: $150M funding through 2025, ~2M appeals, 28 rulings, and 119 recommendations, as it begins to win over critics — Mark Zuckerberg set up the panel to investigate how his company handles controversial posts. Now its members want to transform how social platforms work.
Tweets: @stevenlevy, @klonick, and @codycombsnews
| 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 …
More:
Wall Street Journal, The Register, TechCrunch, ExtremeTech, Tom's Hardware, City A.M., and South China Morning Post
Tweets: @ahern_brendan and @byron_wan
| Joseph Menn / Washington Post: |
An investigation shows TrustCor Systems, used by Chrome, Safari, and Firefox as a root certificate authority, has connections to US intel and law enforcement — TrustCor Systems vouches for the legitimacy of websites. But its physical address is a UPS Store in Toronto.
Tweets: @shashj, @josephmenn, @jvagle, and @v0max
| Andrew J. Hawkins / The Verge: |
Google and Renault expand their four-year partnership to develop a “software-defined vehicle” based on Google's Android Automotive OS — This “software-defined vehicle” will be built on Google's Android Automotive operating system and send data to the company's cloud servers for processing, the companies announced.
More:
Google Inc., Bloomberg, PYMNTS.com, Tech Monitor, TechRadar, CNBC, and T3
| Financial Times: |
Sources: responding to a slowing economy and weakening ad market, ByteDance overhauls TikTok's US operations, including demoting general manager Sandie Hawkins — Chinese-owned social platform makes sweeping leadership changes in its largest market — TikTok's US operations are undergoing … | 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.| 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 — The bitcoins, obtained in in 2012, were valued at $3.36 billion when discovered in November; now they're worth $1.04 billion.| Stephanie Bodoni / Bloomberg: |
European Commission opens an in-depth investigation into Microsoft's proposed $69B Activision Blizzard acquisition, setting a March 23 deadline for phase two — Microsoft Corp.'s proposed $69 billion takeover of games developer Activision Blizzard Inc. faces an in-depth European Union probe … Sponsor Posts
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