Techmeme: Former FTX employees, including general counsel Can Sun, plan to launch crypto exchange Backpack, protecting user funds using lessons learned from FTX's failure (Wall Street Journal)

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November 13, 2023, 12:25 AM

Top News

Reuters:

Chinese chipmaker YMTC filed a lawsuit against Micron on November 9, 2023 in California, alleging that the US chipmaker infringed eight of its patents — Chinese chipmaker Yangtze Memory Technologies Co (YMTC) has filed a lawsuit against U.S. rival Micron Technology (MU.O) alleging infringement of eight of its patents.

More: Global Times. X: @lithos_graphein, @lithos_graphein, and @kanthan2030

Forums: r/Sino and r/hardware

Financial Times:

An in-depth look inside a covert Russian operation to get dual-use specialist microchips, which are protected by EU export controls, into the hands of the state — A rare look inside a covert Russian-led operation to get strategic technology protected by European export controls into the hands of the state

X: @dcuthbert, @maxseddon, @maxseddon, @maxseddon, @maxseddon, @elinaribakova, @maxseddon, @xtophercook, @elinaribakova, @maxseddon, @alenapopova, and @xtophercook

LinkedIn: Raimonds Bricis and Leen Paape

Wall Street Journal:

Former FTX employees, including general counsel Can Sun, plan to launch crypto exchange Backpack, protecting user funds using lessons learned from FTX's failure — Ex-FTX lawyer Can Sun and other former company executives want the new exchange to allow customers to verify holdings at any time

More: Unchained Crypto, Cointelegraph, PYMNTS.com, CoinStats, Bitcoin Insider, crypto.news, The Daily Beast, and The Block

Mastodon: @carnage4life@mas.to. Bluesky: @marypcbuk.bsky.social. X: @caspiancey, @caspiancey, @caspiancey, @digitalartchick, @riddle245, @deitaone, @smtuffy, @silvermanjacob, @zarchasmpgmr, and @quinnypig. LinkedIn: James Herbick, MS, MBA

Mark Gurman / Bloomberg:

A look at Apple's work on its “ambitious and compelling” OS updates for 2024, paused for a week after hitting a key milestone in iOS 18 and macOS 15 development — Apple's recent software development delay underscores the need to get ambitious 2024 updates right.

More: 9to5Mac, Supercharged, Forbes, AppleInsider, The Verge, AppleInsider, PhoneArena, and iPhone in Canada Blog

Mastodon: @paul@tapbots.social. X: @markgurman, @biz_socks, and @albin1887

Forums: r/apple, r/iphone, r/technology, and r/ios

David Gilbert / Wired:

Experts say terrorist groups are using generative AI to bypass the hashing databases used by tech companies to automatically remove violent extremist content — Experts are finding thousands of examples of AI-created content every week that could allow terrorist groups and other violent extremists …

Andi Yu / ABC:

DP World Australia, the country's second largest port operator, shuts down because of a cyberattack, impacting the movement of goods in and out of Australia — Australia's second largest port operator has shut down because of a cyber security incident, impacting the movement of goods in and out of the country.

Wes Davis / The Verge:

Many Threads users report that the app now has a privacy option that lets them opt out of having their posts show up on Instagram and Facebook — Many Threads users are now saying they have the ability to opt out of having their posts shown on Instagram and Facebook.

More: Livemint, PCMag, NewsBytes, and 9to5Mac

Threads: @ami.l.berger, @jbillinson, @datadrivenmd, @datadrivenmd, @michaelgreshko, @ipedro, @kiriappeee, @brooksrocco, and @dryllyrd. X: @jonah_manzano

Bloomberg:

Foxconn launches two prototype low-Earth orbit communication satellites on a SpaceX rocket, as Foxconn diversifies into new sectors with greater urgency — - Taiwan's Foxconn wants to replicate outsourcing model in orbit — Company launches first two LEO satellites on a SpaceX rocket

More: Benzinga, Hon Hai Technology Group (Foxconn), SpaceNews, NewsBytes, South China Morning Post, and Neowin

X: @honhai_foxconn, @honhai_foxconn, and @mytechmusings

Jack Ewing / New York Times:

How Łukasz Krupski, a Tesla whistleblower in Norway, leaked personnel records and Autopilot data that caught the attention of regulators in several countries — An employee who was fired after expressing safety concerns leaked personnel records and sensitive data about driver-assistance software.

Mastodon: @carnage4life@mas.to and @pallenberg@mastodon.social

X: @mrstad, @stephaniemflynn, @michellesdude, and @thefawcette

LinkedIn: Nicholas Benes, Michael Plunkett, and Deb Hileman, SCMP. Forums: r/RealTesla

Shanti Das / The Guardian:

Investigation: the UK biomedical research database Biobank shared the sensitive health data of ~500K volunteers with insurance companies despite pledging not to — Observer investigation reveals UK Biobank opened its biomedical database to insurance firms despite pledge it would not do so

Kate Irwin / Decrypt:

Esports leaders discuss ongoing industry challenges, including VC bubbles, layoffs, and ageism, and call for wealthy game studios to take on more responsibility — Decrypt's investigation reveals ongoing challenges in the young esports industry—including VC bubbles, layoffs, and ageism—and where it's going.

X: @decryptmedia and @iamhodler_

Charlotte Yang / Bloomberg:

Xiaomi is up 60%+, gaining about $20B in market value since June 2023 on the back of strong Xiaomi 14 series sales and its foray into EV and other businesses — - Xiaomi up more than 60% from June low on new smarthphone push — JPMorgan sees ‘trading opportunity in the next six months’

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From Mediagazer

BBC:

Three Bulgarians were found guilty of spying for Russia; they targeted journalists Christo Grozev and Roman Dobrokhotov, who have worked with Bellingcat

Winston Cho / The Hollywood Reporter:

After Disney, WBD, Apple, Amazon and others resumed ads on X, five US senators have asked the DOJ to probe whether Musk is pressuring businesses to return to X

Alex Heath / The Verge:

MrBeast's investor pitch deck shows consumer packaged goods driving forecasted growth through 2026; its Feastables revenue matched core video business in 2024

More News

Sarah Zheng / Bloomberg:

Alibaba and JD.com reported YoY sales increases for Singles Day, but neither company provided overall revenue figures for the event for the second straight year

More: The Register, Reuters, and South China Morning Post

X: @economics, @shanghaimacro, @24hcitizen, and @michaelxpettis

Mark Kleinman / Sky News:

London-based Monument, a digital bank focused on “mass affluent” customers in the UK, raised a $50M Series B, a source says at a £150M+ pre-money valuation

More: Tech.eu, Crowdfund Insider, BusinessCloud, FinTech Futures, Financial IT, FinSMEs, and AltFi

X: @markkleinmansky. LinkedIn: Wasim Khouri, Monument, and Ian Rand

David Gilbert / Wired:

Google's Jigsaw unit and Tech Against Terrorism launch Altitude, a free tool that helps smaller platforms detect and remove terrorist content on their networks

More: The Economic Times and The Verge

X: @techvsterrorism, @jason_kint, @jigsaw, @austen, @bitcloud, @jigsaw, @jigsaw, @basedbeffjezos, @josephjacks_, @bradsmi, @martin_casado, @techvsterrorism, @geetkhosla, @mer__edith, @boztank, @kvnbbg, and @daithaigilbert

LinkedIn: Clare S. and Mark Dobson. Forums: r/technology

Steph Batalis / Foreign Policy:

Chatbots can lower the information barrier to help malicious actors build a bioweapon, making chatbot development guardrails a good first step for biosecurity

More: CoinStats. Threads: @ethank and @carnage4life

X: @vijaypande, @vijaypande, @vijaypande, @clementdelangue, @kevinallison, and @foreignpolicy

LinkedIn: Scott C. Lemon, Adam Russell, Krystal Jackson, and Steph Batalis

Ron Amadeo / Ars Technica:

Humane's Ai Pin is a bizarre cross between Google Glass and a pager, the lack of apps seems extremely limiting, and $699 is too high compared to other wearables

More: Mashable, Hackaday, Supercharged, Insider, Humane, ExtremeTech, GeekWire, Android Headlines, and Pocketnow

Threads: @carnage4life, @seyitaylor, @ericflo, @alexanderbellgram, @kbode, @ryancoleman, @prakashm14, @neil.cybart, @katienotopoulos, @craiggrannell, @jason_tiernan, @jbruck, @chris, @jseibert, @crumbler, @seyitaylor, and @donaldrichard

Mastodon: @counternotions@mastodon … and @arstechnica@mastodon.social

X: @neilcybart, @growing_daniel, @artemr, @maxwinebach, @chih98, @rsgnl, @chrisjbakke, @varunramg, @pungme, @thestalwart, @dylanmcd8, @timokissel, @arstechnica, @peggyktc, @ronamadeo, @esthercrawford, @steventey, and @buccocapital

LinkedIn: Scott C. Lemon, John Miner, Marc Calamia, and Timo Kissel. Forums: Ars OpenForum

Jonathan Randles / Bloomberg:

Filing: FTX sues crypto exchange Bybit and two affiliates to recover ~$953M, including $327M+ that they allegedly withdrew just before FTX filed for bankruptcy

Earlier Picks

Hannah Murphy / Financial Times:

A profile of Bumble CEO Lidiane Jones, who succeeds Whitney Wolfe Herd and is charged with turning around a company whose stock is down ~80% since its 2021 IPO

More: The Economist, Insider, and BBC

X: @salfordsmith61 and @joshuaogundu

Reuters:

EC official: X had just 2,294 EU content moderators, versus 16,974 at YouTube and 6,125 at TikTok, according to reports submitted by the companies in September

More: Gizchina, TechCrunch, and RTHK

Threads: @carnage4life and @carnage4life

X: @romanadamczyk5, @jacqumalaret, and @xavierdegraux

Kevin Roose / New York Times:

A look at custom chatbots, or GPTs, which are tailored for specific tasks and represent an important step in OpenAI's strategy of “gradual iterative deployment”

More: Decrypt, ChinaTechNews.com, and Financial Times

Threads: @carnage4life. X: @linusekenstam, @simonw, @saranormous, @rachel_l_woods, @simonw, @sama, @goodside, @treyratcliff, @angelataptos, @tomchapin, @tunguz, @gregkamradt, @random_walker, @simonw, @emollick, @jeffjarvis, @peteskomoroch, and @jkronand

LinkedIn: Brad Dean, Andrew Mawson, Jorge Ortega, Daniel Rezac, M.Ed., Gregory North, Garth Sheriff, Franky Arriola, Randy B., Martin Waxman, MCM, APR, William Lee, and Janette Roush

Rolling Stone:

SAG-AFTRA's deal would require studios to get consent before making digital replicas of living and deceased actors, disclose their use, and pay actors for them

More: CNN, The Verge, Bloomberg, Tech Xplore, Deadline, Associated Press, Deadline, The Wrap, KCAL News on YouTube, Screen, Variety, Bloomberg, Gizmodo, Deadline, The Hollywood Reporter, and Wired

Threads: @carnage4life. X: @vkhosla, @synopsi, @amyklobuchar, @awards_watch, @problemsthots, @discussingfilm, @kayla__lmao, @variety, and @donquixote616. Forums: Slashdot