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November 9, 2022, 3:35 PM
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memeorandum
WeSmirchTop News
| Ian Allison / CoinDesk: |
Source: after looking at FTX's data and loan commitments, Binance is highly likely to scrap its acquisition; FTX was turned down by Coinbase, OKX, and others — Backing out would be one more stunning development in the collapse of Sam Bankman-Fried's crypto empire.
More:
Wall Street Journal, Trustnodes, Bloomberg, New York Times, CoinDesk, PYMNTS.com, Reuters, TechCrunch, TechCrunch, The Block, Sydney Morning Herald, The Block, The Block, PingWest, The Block, Fortune, Bloomberg, Crypto Daily, Watcher Guru, Wccftech, Cointelegraph, and CNBC
Tweets: @cz_binance, @zebulgar, @goodalexander, @tier10k, @thestalwart, @ldrogen, @asvanevik, @cobie, @deitaone, @cobie, @rajgokal, @whet, @edmundlee, @lopp, @krugermacro, @adamscochran, @wisdommatic, @cz_binance, @adamscochran, @zerohedge, @autismcapital, @alphaketchum, @ashcryptoreal, @0xsisyphus, @coffeebreak_yt, @tree_of_alpha, @mikealfred, @wassielawyer, @lowstrife, @macnbtc, @adamscochran, @zssbecker, @odell, @cobie, @tier10k, @popcornkirby, @mhiesboeck, @loopifyyy, @autismcapital, @aridavidpaul, @mayazi, @danprimack, @lowstrife, @danprimack, @lowstrife, @mayazi, and @mayazi
| Tanaya Macheel / CNBC: |
Major coins are plummeting: Solana crashes 40%+ to under $17, bitcoin drops 10%+ to ~$17,000, its lowest since November 2020, and ether drops 20%+ to ~$1,150 — FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
More:
Decrypt, Protos, CoinDesk, The Block, BBC, The Block, GeekWire, CoinDesk, Forbes, Blockworks, CoinShares, The Block, CryptoPotato, Reuters, Cointelegraph, Trustnodes, Crypto Briefing, and Inside Bitcoins
Tweets: @sbf_ftx, @cz_binance, @brian_armstrong, @jerallaire, @dylanleclair_, @noahpinion, @jerallaire, @asvanevik, @bitcoinpanda69, @altcoinpsycho, @cryptowendyo, @ercwl, @alexandergerko, @brantlymillegan, @justin_bons, @abetrade, @cl207, @rnr_0, @altcoindailyio, @wublockchain, @adamscochran, @altcoindailyio, @rajgokal, and @lars0x
| Bloomberg: |
Sources: the SEC and CFTC are investigating FTX.com over handling customer funds and its 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 …
More:
Reuters, Blockworks, Semafor, TechCrunch, CoinDesk, Decrypt, Bloomberg, Forbes, CoinDesk, The Block, Fortune, NewsBTC, CryptoGlobe, Wealth Management, Crowdfund Insider, Protos, CoinGape, and Bitcoin Magazine
Tweets: @tier10k, @tier10k, @wublockchain, @travis_view, @tracyalloway, @matthewstoller, @219_eth, @erikvoorhees, @stockmktnewz, @alex_sammon, @tree_of_alpha, @erikvoorhees, @iamdcinvestor, @0xfoobar, @crypto_bobby, @deltaxbt, @cl207, @traderkoz, @smtuffy, @altcoindailyio, @ntmoney, @sobylife, @brianquintenz, @wublockchain, @mdudas, @wublockchain, @silvermanjacob, @lizrhoffman, and @silviakillings
| 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:
New York Times, Arthur Hayes, PYMNTS.com, CoinDesk, Gizmodo, Forbes, Decrypt, Fortune, crypto.news, Protocol, The Information, Cointelegraph, and The Block
Tweets: @cz_binance and @cryptohayes
| Kyle Wiggers / TechCrunch: |
After rolling out Twitter's “Official” label to select high-profile accounts, Elon Musk says he “killed it” in a reply to YouTuber MKBHD — Update: Well, that was fast. The grey checks have begun to disappear following a tweet from Twitter CEO Elon Musk implying …
More:
The Verge, Ars Technica, Washington Post, TechCrunch, MacRumors, Forbes, Wall Street Journal, MacRumors, Gizmodo, AppleInsider, Associated Press, The Hill, HotHardware, Insider, VICE, Techdirt, RTÉ, San Francisco Business Journal, CNBC, NBC News, Engadget, CNBC, MobileSyrup, Digital Trends, iMore, iPhone in Canada Blog, Mashable, Thurrott, Bloomberg, and Variety
Tweets: @esthercrawford, @elonmusk, @elonmusk, @esthercrawford, @esthercrawford, @elonmusk, @esthercrawford, @maxwelltani, @fascinated, @agoldmund, @esthercrawford, @mkbhd, @levie, @ditzkoff, @mkbhd, @caseynewton, @malwaretechblog, @carnage4life, @fanhouse, @brosandprose, @nanjala1, @caseynewton, and @davezatz
| 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, San Francisco Business Journal, The Block, and Forbes
Tweets: @mshannahmurphy, @rmac18, @laurengoode, and @theo_wayt
| Sara Fischer / @sarafischer: |
More:
Bloomberg, TechCrunch, Reuters, New York Post, and Insider
Tweets: @justinhendrix, @oneunderscore__, @jmaguirecritic, @kerrymflynn, @krisgoldsmith85, and @mmasnick
| Meta: |
Mark Zuckerberg says Meta plans to lay off 13% of its staff, or 11,000+ employees, and will cut discretionary spending and extend its hiring freeze through Q1 — 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.
More:
New York Times, The Guardian, CNBC, Reuters, TechCrunch, BBC, SEC.gov, PYMNTS.com, Metaverse Post, Adweek, The Guardian, Insider, CNN, Variety, The Verge, BetaKit, TheStreet, Mercury News, GeekWire, DCD, Ars Technica, VICE, Moneycontrol, Tubefilter, Game Rant, San Francisco Business Journal, Insider, Gizchina, Financial Times, Associated Press, GamesIndustry.biz, GameSpot, iPhone in Canada Blog, MobileSyrup, Rock, Paper, Shotgun, and Android Central
| 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:
coinbase.com, Cointelegraph, PYMNTS.com, Protos, and The Block
| 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:
Wired, The Block, Insider, New York Times, TheStreet, Reuters, Financial Times, CoinDesk, Gizmodo, New York Post, CryptoSlate, Watcher Guru, and New York Post
| Wall Street Journal: |
Sources: TSMC plans to announce a second chipmaking factory north of Phoenix, Arizona, in the coming months, investing roughly $12B and aiming to make 3nm chips — New facility would produce cutting edge 3-nanometer semiconductors — Taiwan Semiconductor Manufacturing Co. … | Jem Aswad / Variety: |
YouTube says Music and Premium together have 80M+ paying subscribers, up from 50M in September 2021, and payments to creators and others reached $50B since 2019 — It's a dramatic leap, especially for a platform where so much can be had for free, and would seem to place YouTube … | Filipe Espósito / 9to5Mac: |
Apple is working on a Custom Accessibility Mode for iOS 16.2 beta 2, codenamed Clarity, helping make 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.
More:
MacRumors, Macworld, iPhone Hacks, and BGR
| Frederic Lardinois / TechCrunch: |
IBM announces its Osprey quantum processor with 433 qubits, up from 127 qubits in the 2021 Eagle processor, and plans to hit 4,000 qubits by 2025 — IBM wants to scale up its quantum computers to over 4,000 qubits by 2025 — but we're not quite there yet. For now, we have to make do with …
More:
IBM Research Blog, IBM, Forbes, Network World, Tom's Hardware, iTnews, TechPowerUp, RTÉ, WinBuzzer, Silicon Republic, and TechCircle. Tweets: @ibmresearch
| Nilay Patel / The Verge: |
An interview with CEO Dylan Field on scaling Figma, selling the company to Adobe, retaining autonomy, WebGL, making VR Figma for the metaverse, AGI, and more — We also talk about AI and VR — but we know why you're here. … Dylan Field is the co-founder and CEO of Figma … | 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.| Financial Times: |
Sources: TikTok cut its 2022 revenue target from $12B-$14.5B to ~$10B in September, as some staff complain of overspending on salaries, social events, and more — Fast-growing social platform cuts ambitious goals by 20% as some staff complain of lavish spending| 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:
USA Today, Bloomberg, The Register, Fortune, The Guardian, CNBC, Reuters, Forbes, and Axios
Tweets: @carlquintanilla, @carlquintanilla, and @internethippo
| 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 … | Tom Warren / The Verge: |
Google rolls out its Google One VPN to Windows and macOS in 22 countries; the service is available to 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 for Windows and macOS …
More:
Engadget, Thurrott, PCMag, 9to5Google, Android Authority, Neowin, Android Police, iPhone in Canada Blog, and MacDailyNews
| Dylan Martin / The Register: |
Intel announces the Xeon CPU Max Series and Data Center GPU Max Series, set to arrive in early 2023 and power the US Department of Energy's Aurora supercomputer — x86 giant goes all-in with high-bandwidth memory — Intel's latest plan to ward off rivals from high-performance computing workloads involves … | Ernesto Van der Sar / TorrentFreak: |
Italian court upholds a ban against Cloudflare resolving DNS queries for three torrent sites, after Cloudflare appealed that the ban would impact users globally — The Court of Rome has confirmed that Cloudflare must block three torrent sites through its public 1.1.1.1 DNS resolver.| Muyao Shen / Bloomberg: |
DeFi Llama: the total value locked in DeFi has dropped by 12%+ in the past day, after hovering around $50B to $60B since June 2022 and $180B+ in December 2021 — Decentralized finance is feeling the pain of Binance's proposed takeover of FTX.com, with investors yanking cash from projects …
More:
Blockworks and CoinDesk
| Zoya Mateen / BBC: |
A profile of a16z's Sriram Krishnan, a former Twitter executive who left in 2021 and is helping Elon Musk run Twitter, reportedly as part of his “inner circle” — Twitter's new owner Elon Musk has whipped up a storm after he sacked thousands of employees last week.
More:
Fortune
| Ashley Capoot / CNBC: |
Roblox reports Q3 revenue up 2% YoY to $517.7M, bookings up 10% YoY to $701.7M, and DAUs up 24% YoY to 58.8M; stock drops 15%+ on a larger-than-expected loss — - Shares of Roblox fell more than 17% in premarket trading Wednesday after the company reported a third-quarter loss but beat analyst estimates for revenue.
More:
Roblox and TechCrunch
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