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November 10, 2022, 1:30 PM
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WeSmirchTop News
| @sbf_ftx: |
[Thread] FTX CEO SBF apologizes, says he “fucked up”, claims his priority is “doing right by users”, plans to raise funds and shutter Alameda, and more — 1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
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Tweets: @sbf_ftx, @sbf_ftx, @ercwl, @sbf_ftx, @grdecter, @marionawfal, @cobie, @sbf_ftx, @teo_leibowitz, @dogetoshi, @rmfifthcircuit, @ashleevance, @levie, @levie, @bneiluj, @alex_kirshner, @d1nomite, @bobloukas, @sayssimonson, @farokh, @hbomberguy, @alexhern, @danprimack, @levie, @fmanjoo, @el33th4xor, @coindesk, @coindesk, @debdrens, @alexhern, @fmanjoo, @excelhumor, @kathryntewson, @jason_koebler, @macrocrg, @ronwhammond, @smtuffy, @bigblackjacobin, @sgbarbour, @smtuffy, @teroterotero, @crypto_chase, @zerohedge, @thevinhvuong, @jungleincxrp, @mayazi, @autismcapital, @cl207, @barryfried1, @almostmedia, @coffeebreak_yt, @inartecarlodoss, @bongcapital, @santiagoroel, @sbf_ftx, @molly0xfff, and @charlesarthur
| Reuters: |
Sources detail FTX's rise and fall: CZ's ~$100M investment in 2019, deteriorating relationship with Binance, significant losses at Alameda in 2022, and more — On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
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Wall Street Journal, The Information, CoinDesk, Bloomberg, AppleInsider, CryptoPotato, and Coinspeaker
Tweets: @wublockchain, @hashoshi4, @lopezlinette, @felixsalmon, @0xsisyphus, and @marionawfal
| Wall Street Journal: |
Source: SBF told an investor that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as poor judgment — FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
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The Block, The Block, Bloomberg, CoinDesk, PYMNTS.com, The Guardian, The Block, Financial Times, Wccftech, and The Rebooting
Tweets: @deitaone, @deitaone, @tier10k, @0xfoobar, @adamscochran, @tier10k, @ivanthek, @chainlinkgod, @chainlinkgod, @mayazi, @acczibit, @feyronn, @jonnymoetrades, @ottosuwennft, @gainzy222, @cryptokonata, @52kskew, @trustlessstate, @wassielawyer, @trustlessstate, @grindingpoet, @0xwangarian, @bowtiedbull, @adamscochran, @lilmoonlambo, @tier10k, @johnedeaton1, @felixsalmon, @stoolpresidente, @thecoffeeblock, @johngapper, @firstadopter, @etheraltog, and @kairyssdal
| Bryce Elder / Financial Times: |
As FTX faces bankruptcy, an attempt to untangle its extremely complex corporate structure, which could pose a problem for liquidators and law enforcement — Relationship status: it's complicated — With crypto exchange FTX short $8bn and hurtling towards bankruptcy … | Oliver Knight / CoinDesk: |
Tether freezes FTX's $46M in USDT on the Tron blockchain at the request of law enforcement while investigations occur — The stablecoin lost its $1 peg earlier on Thursday. — Stablecoin issuer Tether has frozen $46 million of USDT held on the Tron blockchain by failing crypto exchange FTX following a request from law enforcement.
More:
Reuters, The Block, Ethereum World News, Bitcoin News, Crypto Briefing, and Blockonomi
Tweets: @tier10k, @whale_alert, @pentosh1, and @whale_alert
| 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 leaves FTX with uncertain future as it faces multibillion-dollar shortfall — Sam Bankman-Fried in Talks to Raise More Funding
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Reuters, The i Paper, Whitespace, Reuters, PYMNTS.com, CoinDesk, The Block, CNBC, Bloomberg, Cointelegraph, AltFi, Blockworks, CNN, Bitcoin News, New York Times, Reuters, TIME, Coinspeaker, crypto.news, and Crypto Briefing
Tweets: @binance, @cz_binance, @justinsuntron, @halocrypto, @cobie, @cz_binance, @binance, @genesistrading, @jespow, @zebulgar, @sbf_ftx, @tier10k, @hsakatrades, @paoloardoino, @tier10k, @firstadopter, @stoolpresidente, @astro__magic, @cz_binance, @autismcapital, @1markmoss, @fintechfrank, @doombergt, @jespow, @ianthetechie, @iamdcinvestor, @wassielawyer, @cobie, @hsakatrades, @cryptohayes, @cmsintern, @p3b7_, @camirusso, @adamscochran, @goodalexander, @binance, @ldrogen, @cobie, @rajgokal, and @deitaone
| Dan Primack / Axios: |
Sequoia tells partners the firm marked down its FTX investment of $213.5M across two funds to $0, saying it “ran a rigorous diligence process” before investing — - 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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Moneycontrol, Bloomberg, and Silicon Valley Business …
| Callan Quinn / The Block: |
Binance shares addresses for its wallets and details its holdings: 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, 58M BNB, and a $1B SAFU fund — - Binance has released the addresses of its hot and cold wallets. — It provided a snapshot of its current holdings.
More:
Binance Blog, CoinDesk, and CNN
Tweets: @cz_binance, @sonofthesunbtc, @thecoffeeblock, and @stevenkelly49
| Gillian Tan / Bloomberg: |
Source: citing an $8B shortfall, Sam Bankman-Fried told investors that FTX needs a cash injection or the company will need to file for bankruptcy — Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy …
More:
Wall Street Journal, CoinDesk, Reuters, Forkast, and Fortune
Tweets: @tier10k, @reptomemmer, @cz_binance, @aeyakovenko, @jerallaire, @zhusu, and @ercwl
| Alex Heath / The Verge: |
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; engineers are now asked to “self-certify” compliance with FTC rules — Twitter's privacy and security teams are in turmoil after Elon Musk's changes to the service bypassed its standard data governance processes.
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Washington Post, Tech Policy Press, Techdirt, CNN, Engadget, Bloomberg, AppleInsider, Reuters, Forbes, and TechCrunch
Tweets: @caseynewton, @leakissner, @mmasnick, @cat_zakrzewski, @thezedwards, @riana_crypto, @reckless, @riana_crypto, @alexeheath, @alexeheath, @caseynewton, @caseynewton, @tomcoates, @hypatiadotca, @tomcoates, @reckless, @evacide, @caterina, @alexstamos, @alexstamos, @riana_crypto, @tindenli, @mmasnick, @sherman4949, @tomcoates, @mat, @drnovac, @fmanjoo, @brooklynmarie, @laurenweinstein, @panzer, @hunterwalk, @gartenberg, @reckless, @davechensky, @charlesarthur, and @iblametom
| Kurt Wagner / Bloomberg: |
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and ends remote work policies, saying employees should be in 40+ hours per week — New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
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New York Times, USA Today, The Verge, Thurrott, TheStreet, New York Post, City A.M., WRAL TechWire, CNBC, Tech Xplore, TechCrunch, Protocol, and ZDNet
Tweets: @gergelyorosz, @sarahfrier, @eevee, @techemails, @derektmead, @louiseridley, @astrokatie, and @kurtwagner8
| The Verge: |
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Bloomberg, Ars Technica, and DevOps.com
| Kif Leswing / CNBC: |
Apple plans to launch Emergency SOS with Satellite in November and invest $450M in US companies to support the infrastructure, with most going to Globalstar — - Apple said Thursday that it will spend $450 million with U.S. companies including Globalstar to enable its new emergency satellite texting feature.| Mark Gurman / Bloomberg: |
Apple limits iOS' AirDrop in China for receiving files from non-contacts to 10 minutes after its use in protests, and plans to change the global default in 2023 — 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, Thurrott, Gizmodo, MacDailyNews, iPhone in Canada Blog, and TechCrunch
Tweets: @zeyiyang and @therealjoshye
| 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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Ars Technica, The Verge, TechCrunch, Forbes, AppleInsider News, The Verge, Fortune, Digg, Mashable, Insider, Android Headlines, Wired, GameSpot, NBC News, and 9to5Mac
Tweets: @elonmusk, @jsrailton, @tmz, @joonlee, @vxunderground, @misterratt, @chadloder, @asawinstanley, @patblanchfield, @b_fung, @rmac18, @danprimack, @almostmedia, @tomwarren, @mcuban, and @mcuban
| Kyle Wiggers / TechCrunch: |
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Washington Post, NBC News, Kotaku, Gizchina, BleepingComputer, Forrester, and Insider
Tweets: @waemd, @elonmusk, @esthercrawford, @esthercrawford, @jasonschreier, @elonmusk, @mcuban, @esqueer_, @mmasnick, @mkbhd, @dangeredwolf, @fascinated, @mattbinder, @alexvtunzelmann, @enichan, @raykump, @mds, @levie, and @caseynewton
| Wall Street Journal: |
Sources: Amazon launches a cost-cutting review of its unprofitable businesses, like devices unit, which had a $5B operating loss in recent years; stock up 10%+ — Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show| Bloomberg: |
Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4 — Hon Hai Precision Industry Co., maker of most of the world's iPhones, warned consumer electronics revenue will fall this quarter …
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Reuters, South China Morning Post, AppleInsider, Wccftech, and MacDailyNews
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