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November 9, 2022, 7:00 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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New York Times, The Block, CoinDesk, CoinDesk, Bloomberg, PYMNTS.com, Reuters, The Block, CoinDesk, Blockworks, TheStreet, Newcomer, Crunchbase News, VICE, Engadget, Protocol, VentureBeat, Protocol, SiliconANGLE, Reuters, TechCrunch, Trustnodes, Bloomberg, Reuters, The Verge, Decrypt, Los Angeles Times, San Francisco Business Journal, The Block, Finextra, Gizmodo, Fortune, CNBC, Reuters, Reuters, Cryptonews, The Sandbox Daily, crypto.news, Bloomberg, CoinDesk, Forbes, Crowdfund Insider, CryptoSlate, Bitwise Investments, The Daily Hodl, Bitcoin Magazine, Watcher Guru, NewsBTC, Bitcoin News, Crypto Briefing, PYMNTS.com, and Cointelegraph
Tweets: @binance, @cz_binance, @unusual_whales, @tier10k, @halocrypto, @lucasnuzzi, @cz_binance, @zebulgar, @tier10k, @binance, @tier10k, @genesistrading, @cobie, @asvanevik, @cobie, @deitaone, @cobie, @ldrogen, @goodalexander, @shaanvp, @rajgokal, @thestalwart, @hsakatrades, @cryptomanran, @thestalwart, @fintechfrank, @claritytoast, @cobie, @simondixontwitt, @hsakatrades, @cryptokaleo, @tittyrespecter, @autismcapital, @tree_of_alpha, @dylanleclair_, @cryptohayes, @nadeshot, @cryptokaleo, @0xfoobar, @joeconsorti, @mkultramoney, @obsoletedogma, @zerohedge, @binance, @crypto_chase, @adamscochran, @mayazi, @smdiehl, @fintechfrank, @danprimack, @dantwany, @dystopiabreaker, @hhorsley, @fxmacro, @nic__carter, @tree_of_alpha, @scopeprotocol, @coinmamba, @gladstein, @cryptohayes, @cryptohayes, @olya_borderless, @adamscochran, @cryptoquant_com, @biancoresearch, @mikeburgersburg, @gainzy222, @vec0zy, @matthew_pines, @econoar, @tradermayne, @cameron, @unlockscalendar, @aridavidpaul, @cameron, @icebergy_, @ben_mckenzie, @thinkingusd, @punk9059, @odell, @bitcoinpanda69, @tier10k, @tier10k, @ki_young_ju, @dougpolkvids, @statelayer, @autismcapital, @coldbloodshill, @tree_of_alpha, @hsakatrades, @thinkingusd, @loomdart, and @kadhim
| 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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The Guardian, CoinDesk, CNBC, Protos, The Block, The Block, BBC, crypto.news, Bloomberg, Cointelegraph, CoinDesk, and The Block
Tweets: @sbf_ftx, @cz_binance, @brian_armstrong, @jerallaire, @dylanleclair_, @jerallaire, @noahpinion, @asvanevik, @wublockchain, @tracyalloway, @lars0x, @brantlymillegan, @aeyakovenko, @dsentralized, @salsatekila, @rajgokal, @vivek4real_, @rager, @timdraper, @inmortalcrypto, @hodlonaut, @nebraskangooner, and @basedkarbon
| 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, Blockworks, New York Times, The Information, TechCrunch, PYMNTS.com, CoinDesk, Bloomberg, Decrypt, Forbes, SlashGear, Crypto Briefing, The Daily Hodl, crypto.news, Watcher Guru, Ethereum World News, and CryptoSlate
Tweets: @tier10k, @tier10k, @wublockchain, @brianquintenz, and @smtuffy
| Joshua Oliver / Financial Times: |
Memo: Binance CEO Changpeng Zhao says FTX's near collapse “severely” shook confidence in the crypto industry, offers some deal details, and halts FTT sales — Changpeng Zhao tells employees that the bailout of its chief rival is ‘not a win’ — The near collapse of FTX has …
More:
Semafor, New York Times, Arthur Hayes, PYMNTS.com, CoinDesk, Protocol, Fortune, Forbes, The Daily Hodl, crypto.news, Cointelegraph, Watcher Guru, and Reuters
Tweets: @cz_binance and @jeffnolan
| Tom Maloney / Bloomberg: |
Sam Bankman-Fried's estimated $15.6B fortune has been eviscerated in days by the demise of FTX and Alameda, dropping to ~$1B, the largest one-day collapse ever — 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.
More:
CoinDesk, Wired, Financial Times, and Bitcoin Magazine
Tweets: @cz_binance, @ericnewcomer, @wassielawyer, @evgenygaevoy, @gurgavin, @danprimack, @lizrhoffman, and @0xngmi
| Shaurya Malwa / CoinDesk: |
In the wake of FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, and OKX pledge to release their Merkle tree reserve certificates — Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month. — Crypto exchanges are now scrambling …
More:
Cointelegraph, CryptoSlate, and Financial Times
| 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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The Verge, The Verge, Washington Post, Ars Technica, Politico, XDA Developers, The Information, Snopes, Wall Street Journal, PYMNTS.com, Insider, RTÉ, MacRumors, Adweek, Techdirt, Gizmodo, CNBC, Engadget, AppleInsider, SlashGear, The Hill, and CNBC
Tweets: @elonmusk, @esthercrawford, @elonmusk, @esthercrawford, @esthercrawford, @esthercrawford, @elonmusk, @maxwelltani, @agoldmund, @esthercrawford, @jasonschreier, @levie, @fascinated, @ditzkoff, @mds, @mkbhd, @klonick, @caseynewton, @caseynewton, @caseynewton, @malwaretechblog, @carnage4life, @nanjala1, @caseynewton, and @tszzl
| 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.
More:
New York Times, TechCrunch, PYMNTS.com, Protocol, TechCrunch, San Francisco Business Journal, and Watcher Guru
Tweets: @mshannahmurphy and @rmac18
| Sara Fischer / @sarafischer: |
More:
TechCrunch, Engadget, Insider, Bloomberg, The Information, Deadline, Reuters, The Block, and Dexerto
Tweets: @justinhendrix and @nandoodles
| 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, The Guardian, Reuters, BBC, SEC.gov, TechCrunch, NBC News, Insider, Variety, The Verge, PYMNTS.com, Metaverse Post, USA Today, VICE, The Week, Moneycontrol, Fortune, Adweek, Associated Press, and general zuo's chicken
Tweets: @kenyafitdee, @willoremus, @alexleavitt, @juokaz, @scobleizer, @mmasnick, @mmasnick, @jeffhorwitz, @robleathern, @danielcberk, @emilyrpeck, @jeremybmerrill, @parismartineau, @sarthakgh, @philwinkle, @catchmestreamin, @dannygroner, @billbrewstertbb, @moiseyuretsky, @therealrthorat, @kfury, @therealrthorat, @seyitaylor, @samwightt, @gergelyorosz, @david_jagneaux, @benedictevans, @nbcnightlynews, @masonversluis, @karaswisher, @oldcabin19, @gerberkawasaki, @unusual_whales, @naominixwrites, @mmasnick, and @jeffhorwitz
| 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 …
More:
Windows Blog, Engadget, Macworld, Softpedia News, XDA Developers, Windows Central, Thurrott, MacRumors, AppleInsider, BGR, 9to5Mac, iMore, and BigTechWire
| Wall Street Journal: |
TSMC is constructing a building to potentially serve as second fab north of Phoenix, Arizona; sources: TSMC plans to invest ~$12B and manufacture 3nm chips — New facility would produce cutting edge 3-nanometer semiconductors — Taiwan Semiconductor Manufacturing Co. …
More:
Protocol, The Information, and Philip Elmer‑DeWitt
| 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 … | 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.
More:
IBM Research Blog, IBM, Ars Technica, SiliconANGLE, Reuters, Forbes, TechPowerUp, Tom's Hardware, VentureBeat, Wccftech, and Network World. Tweets: @ibmresearch
| Filipe Espósito / 9to5Mac: |
Apple's iOS 16.2 beta 2 reveals work on a Custom Accessibility Mode, codenamed Clarity, aimed at making the iPhone's and the iPad's UI more user-friendly — Apple on Tuesday released iOS 16.2 beta 2 to developers as the company gets ready to make the update available to the public in December.| Bloomberg: |
Amazon becomes the world's first public company to lose $1T in market value, shrinking to ~$879B from $1.88T in July 2021; Microsoft lost $889B since Nov. 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 … | James Vincent / The Verge: |
Q&A with the lawyers “challenging the legality of GitHub Copilot” via a proposed class action lawsuit, which could have a huge impact on generative AI models — Microsoft, its subsidiary GitHub, and its business partner OpenAI have been targeted in a proposed class action lawsuit alleging … | Nate Bek / GeekWire: |
Seattle-based Redfin lays off 862 employees, or 13% of its workforce, and winds down its home-flipping program RedfinNow; stock is down 96%+ since February 2021 — Redfin will wind down its home-flipping program RedfinNow and lay off employees for the second time this year as it cuts expenses in response to a slowing housing market.
More:
Seattle Business Journal, PYMNTS.com, and Bloomberg
| Rebecca Elliott / Wall Street Journal: |
Filings: after buying Twitter for $44B, Elon Musk sold 19.5M Tesla shares, worth almost $4B, from November 4 to 8, leaving him with a roughly 14% stake — The sale of 19.5 million shares this month in the electric-vehicle maker follows sales in April and August
More:
Fortune, USA Today, Bloomberg, Vicki Bryan's Bond Angle, The Guardian, and CNBC
Tweets: @carlquintanilla and @carlquintanilla
| Tom Warren / The Verge: |
Google rolls out its VPN service to Windows and macOS in 22 countries; the desktop apps are available to Google One Premium subscribers with 2TB+ storage — Google is bringing its VPN access to desktop today. Google One subscribers on Premium plans (2TB or higher) can now download VPN apps …
More:
9to5Google and Engadget
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