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November 9, 2022, 11:00 PM
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memeorandum
WeSmirchTop News
| Wall Street Journal: |
Binance abandons its rescue acquisition offer for FTX after reviewing FTX's finances, saying “the issues are beyond our control or ability to help” — Crypto exchange's decision comes as it conducts due diligence on FTX — Sam Bankman-Fried in Talks to Raise More Funding
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CoinDesk, New York Times, Bloomberg, The Information, Reuters, Decrypt, TechCrunch, CoinDesk, PYMNTS.com, The Block, The i Paper, Bloomberg, Protocol, Trustnodes, The Information, CNBC, Australian Financial Review, The Block, BBC, CoinDesk, Cointelegraph, Reuters, Forkast, Blockworks, Bitcoinist.com, Crunchbase News, TheStreet, Bloomberg, The Great Reset Diary 2022, VICE, Watcher Guru, Bitwise Investments, Engadget, Fortune, Financial Times, CryptoSlate, Los Angeles Times, VentureBeat, Fortune, ZeroHedge, Crypto Briefing, and Forbes
Tweets: @binance, @cz_binance, @justinsuntron, @halocrypto, @unusual_whales, @zebulgar, @lucasnuzzi, @cz_binance, @tier10k, @binance, @tier10k, @tier10k, @brian_armstrong, @genesistrading, @fintechfrank, @cobie, @asvanevik, @cobie, @deitaone, @cobie, @ldrogen, @cmsintern, @goodalexander, @shaanvp, @rajgokal, @adamscochran, @firstadopter, @thestalwart, @cryptomanran, @binance, @hsakatrades, @scopeprotocol, @punk9059, @adamscochran, @econoar, @whet, @autismcapital, @obsoletedogma, @tree_of_alpha, @danprimack, @tier10k, @cobie, @cryptoquant_com, @crypto_chase, @ashcryptoreal, @tittyrespecter, @cryptohayes, @simondixontwitt, @bitcoinpanda69, @0xsisyphus, and @biancoresearch
| Bloomberg: |
Sources: the SEC and the CFTC are investigating whether FTX.com mishandled customer funds and FTX's relationship with other parts of Sam Bankman-Fried's empire — US financial regulators are investigating whether beleaguered crypto-exchange FTX.com properly handled customer funds …
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Reuters, CoinDesk, Blockworks, Wall Street Journal, New York Times, Bloomberg, TechCrunch, The Block, NBC News, Forbes, TIME, The Information, Fortune, Bloomberg, and Protos
Tweets: @tier10k, @tier10k, @wublockchain, @brianquintenz, @adamscochran, @erikvoorhees, @dondekojo, @deltaxbt, @sobylife, and @clemenchiang
| Tanaya Macheel / CNBC: |
Major coins are plummeting: bitcoin drops 14%+ to below $16,000, a new low since November 2020, ether drops 17%+ to ~$1,100, and Solana crashes 40%+ to ~$13 — FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
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Bloomberg, Protos, CNBC, BBC, The Guardian, Cointelegraph, Axios, Crypto News Bites, Cointelegraph, CoinDesk, The Block, and CoinShares
| Joshua Oliver / Financial Times: |
Memo: Binance CEO Changpeng Zhao says FTX's near collapse “severely” shook confidence in the crypto industry, shares some FTX deal details, and halts FTT sales — Changpeng Zhao tells employees that the bailout of its chief rival is ‘not a win’
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Semafor, Arthur Hayes, South China Morning Post, New York Times, Bloomberg, Fortune, NewsBTC, CryptoSlate, PYMNTS.com, CoinDesk, Coinpedia Fintech News, Protocol, Wall Street Journal, Points And Figures, and crypto.news
Tweets: @cz_binance, @cobie, @edzitron, @tracyalloway, @trackinflation, @mrjasonchoi, @adamscochran, @hsakatrades, @wallstcynic, and @kadhim
| Dan Primack / Axios: |
Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process” — - Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund's total capital commitment.
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TechCrunch, CoinDesk, Newcomer, The Block, and Bloomberg
Tweets: @sequoia, @cnbcjou, @ahcastor, @mat, @mdudas, @kylebrussell, @wublockchain, @tonyromm, @firstadopter, @silvermanjacob, @mshannahmurphy, and @teddyschleifer
| Gillian Tan / Bloomberg: |
Source: Sam Bankman-Fried told investors that FTX needs a cash injection or the company would need to file for bankruptcy due to a shortfall of up to $8B — Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy … | Tom Maloney / Bloomberg: |
Sam Bankman-Fried's estimated $15.6B fortune may have been annihilated to ~$1B by the demise of FTX and Alameda, the largest one-day drop for a billionaire yet — Just weeks ago, Sam Bankman-Fried was considered crypto's version of John Pierpont Morgan, willing to throw around his massive fortune to save the industry.
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Wired, Insider, Bitcoinist.com, CoinDesk, Financial Times, Cointelegraph, and New York Post
| Shaurya Malwa / CoinDesk: |
After FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit, and Bybit pledge to publish their Merkle tree reserve certificates — Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month.
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The Block, Cointelegraph, and ETH Daily
| Kyle Wiggers / TechCrunch: |
After Twitter labels select accounts as “Official”, Elon Musk says he “killed it” and an executive says the label “is still going out” as part of the new Blue — Update: Well, that was fast. The grey checks have begun to disappear following a tweet …
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Washington Post, Wall Street Journal, The Verge, Washington Post, Ars Technica, TechCrunch, MacRumors, The Register, Forbes, RTÉ, The Hollywood Reporter, CNBC, Politico, Insider, Digital Trends, Engadget, Techdirt, XDA Developers, Neowin, Observer, iMore, and Bloomberg
Tweets: @esthercrawford, @elonmusk, @elonmusk, @esthercrawford, @esthercrawford, @elonmusk, @esthercrawford, @waemd, @maxwelltani, @esthercrawford, @agoldmund, @jasonschreier, @mmasnick, @mkbhd, @levie, @fascinated, @ditzkoff, @mds, @mkbhd, @malwaretechblog, @caseynewton, @carnage4life, @nanjala1, @caseynewton, @racheltobac, @fmanjoo, @taylorlorenz, @revshark, @willoremus, @can, @miarsato, @fanhouse, and @allisonlcarter
| Becky Peterson / The Information: |
Report: Twitter filed to register with the US Treasury to process payments; source: Twitter is working on a product that accepts cryptocurrencies including DOGE — Twitter is taking steps to launch a payment processing product that could put it into competition with PayPal.
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New York Times, Adweek, TechCrunch, Protocol, and PYMNTS.com
Tweets: @mshannahmurphy and @rmac18
| Taylor Hatmaker / TechCrunch: |
Fake Twitter accounts of athletes and other celebrities, some now suspended, are spreading fake announcements and chaos as paid Blue checkmarks become available — Elon Musk's mercurial leadership and half-baked product plans are already creating fertile ground for confusion on Twitter.
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The Verge, TMZ.com, Snopes, Halfghanspam, iMore, PCMag, Techdirt, New York Post, BGR, and The Guardian
Tweets: @jordanliles, @tmz, @peteskomoroch, @jaredlholt, and @budrykzack
| Sara Fischer / @sarafischer: |
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New York Times, Engadget, CNN, SiliconANGLE, Reuters, Bloomberg, Insider, and Deadline
Tweets: @nandoodles, @justinhendrix, @oneunderscore__, @mmasnick, and @cobie
| Meta: |
Mark Zuckerberg says Meta plans to lay off ~13% of its staff, or 11,000+ employees, and cut discretionary spending and extend its hiring freeze through Q1 2023 — Mark Zuckerberg just shared the following with Meta employees: — Today I'm sharing some of the most difficult changes we've made in Meta's history.
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New York Times, CNBC, Reuters, The Guardian, TechCrunch, SEC.gov, BBC, The Economic Times, Insider, The Verge, Variety, The Verge, VICE, Moneycontrol, Social Media Today, The Week, Fortune, Ars Technica, and NBC News
| Tom Warren / The Verge: |
Microsoft begins to roll out iCloud Photos integration in Windows 11 through an update to the built-in Windows Photos app — Microsoft is starting to roll out iCloud Photos integration into Windows 11. A new update to the Photos app in Windows 11 is now available, which will include …
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Windows Blog
| Mark Gurman / Bloomberg: |
Apple limits AirDrop in China on iOS to a 10-minute window for non-contacts after its use in protests; Apple will change the default globally in the coming year — Apple Inc. has limited the AirDrop wireless file-sharing feature on iPhones in China after the mechanism was used by protesters to spread images to other iPhone owners.
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9to5Mac, CNET, Macworld, and Cult of Mac
| Bloomberg: |
Amazon becomes the world's first public company to lose $1T in market value, from $1.88T in July 2021 to ~$879B; Microsoft has lost $889B since November 2021 — Amazon.com Inc. is the world's first public company to lose a trillion dollars in market value as a combination of rising inflation …
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Insider and PYMNTS.com
| Frederic Lardinois / TechCrunch: |
IBM unveils its Osprey quantum processor with 433 qubits, up from 127 in its 2021 Eagle processor, and plans to hit 4,000+ with its Kookaburra processor in 2025 — IBM wants to scale up its quantum computers to over 4,000 qubits by 2025 — but we're not quite there yet.
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IBM Research Blog, IBM, Reuters, Forbes, TechPowerUp, Ars Technica, Tom's Hardware, VentureBeat, and WinBuzzer
Tweets: @ibmresearch and @jaygambetta
| Jem Aswad / Variety: |
YouTube says Music and Premium have 80M+ paying subscribers combined, up from 50M in September 2021, and payments to creators and others since 2019 passed $50B — It's a dramatic leap, especially for a platform where so much can be had for free, and would seem to place YouTube … Sponsor Posts
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Zoho:
The staffing formula for India's 10-minute gig economy — Leaving for an early morning meeting, but the dog ate your toothbrush? That's how the quick commerce market was born in the post-COVID era.
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