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November 9, 2022, 8:00 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, Newcomer, Bloomberg, Reuters, CoinDesk, The Block, CoinDesk, PYMNTS.com, TechCrunch, The Block, CoinDesk, Decrypt, Bloomberg, Australian Financial Review, The Block, BBC, CoinDesk, Blockworks, The i Paper, TheStreet, Crunchbase News, VICE, Engadget, Protocol, Trustnodes, VentureBeat, Bloomberg, SiliconANGLE, Protocol, TechCrunch, The Verge, San Francisco Business Journal, Finextra, Decrypt, The Block, Reuters, Los Angeles Times, Fortune, CNBC, Hacker Noon, crypto.news, Cryptonews, Bloomberg, The Sandbox Daily, Watcher Guru, Gizmodo, Crowdfund Insider, CryptoSlate, The Daily Hodl, Bitcoin Magazine, Reuters, Reuters, NewsBTC, Cointelegraph, Forbes, Bitwise Investments, Cointelegraph, Bitcoin News, CryptoPotato, CoinDesk, Sydney Morning Herald, and The Block
Tweets: @binance, @cz_binance, @unusual_whales, @halocrypto, @lucasnuzzi, @cz_binance, @zebulgar, @tier10k, @tier10k, @binance, @tier10k, @genesistrading, @fintechfrank, @cobie, @asvanevik, @cobie, @deitaone, @cobie, @ldrogen, @goodalexander, @shaanvp, @rajgokal, @adamscochran, @andyroddick, @cryptomanran, @thestalwart, @mikeisaac, @thestalwart, @binance, @hsakatrades, @scopeprotocol, @tradermayne, @punk9059, @dogetoshi, @adamscochran, @econoar, @whet, and @autismcapital
| 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, BBC, The Block, The Block, CryptoPotato, Cointelegraph, crypto.news, Bloomberg, Forbes, and The Block
| 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, New York Times, Bloomberg, TechCrunch, The Information, Forbes, Wall Street Journal, PYMNTS.com, CoinDesk, Bloomberg, TechSpot, SlashGear, Mashable, Crypto Briefing, Decrypt, The Daily Hodl, crypto.news, Watcher Guru, and Fortune
Tweets: @tier10k, @tier10k, @wublockchain, and @brianquintenz
| 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, New York Times, PYMNTS.com, CoinDesk, Fortune, The Daily Hodl, Wall Street Journal, crypto.news, Reuters, Watcher Guru, and CNBC
Tweets: @cz_binance, @jeffnolan, @cobie, @edzitron, @tracyalloway, and @trackinflation
| 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.| 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.
More:
Cointelegraph, CryptoSlate, and Financial Times
| 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 … | 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, The Verge, The Verge, Washington Post, Ars Technica, Snopes, Wall Street Journal, Politico, XDA Developers, TechCrunch, MacRumors, The Information, Forbes, RTÉ, Insider, Techdirt, Observer, CNBC, Adweek, MacRumors, Engadget, Gizmodo, CNBC, and AppleInsider
Tweets: @esthercrawford, @elonmusk, @elonmusk, @esthercrawford, @esthercrawford, @waemd, @esthercrawford, @elonmusk, @jasonschreier, @maxwelltani, @esthercrawford, @mkbhd, @levie, @fascinated, @ditzkoff, @mds, @mkbhd, @caseynewton, @malwaretechblog, @carnage4life, @klonick, @caseynewton, @caseynewton, @nanjala1, @caseynewton, @fmanjoo, and @taylorlorenz
| 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, TechCrunch, PYMNTS.com, Protocol, San Francisco Business Journal, Watcher Guru, and Forbes
Tweets: @mshannahmurphy and @rmac18
| Taylor Hatmaker / TechCrunch: |
Fake Twitter accounts of athletes and other prominent people, some now suspended, are spreading fake news amid the chaos around the new paid Blue checkmark — 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, PCMag, NBC News, PYMNTS.com, Social Media Today, Kotaku, New York Post, Mashable, and Outlaw Journalism Newsletter
Tweets: @agoldmund, @tmz, @gartenberg, @mmasnick, and @chrismessina
| Sara Fischer / @sarafischer: |
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Engadget, Reuters, Insider, Vox, Bloomberg, Deadline, The Information, TechCrunch, BGR, Dexerto, and The Block
Tweets: @justinhendrix, @nandoodles, @brendannyhan, and @mmasnick
| 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, SEC.gov, BBC, TechCrunch, CNN, Variety, NBC News, The Verge, Insider, Social Media Today, VICE, USA Today, PYMNTS.com, Moneycontrol, The Week, Metaverse Post, Fortune, Associated Press, Insider, Financial Times, and PCMag
Tweets: @willoremus, @alexleavitt, @juokaz, @sarthakgh, @scobleizer, @mmasnick, @mmasnick, @jeffhorwitz, @robleathern, @danielcberk, @emilyrpeck, @jeremybmerrill, @parismartineau, @philwinkle, @catchmestreamin, @dannygroner, @billbrewstertbb, @moiseyuretsky, @therealrthorat, @kfury, @therealrthorat, @seyitaylor, @naominixwrites, @samwightt, @gergelyorosz, @david_jagneaux, @jeffhorwitz, @benedictevans, @gergelyorosz, @gergelyorosz, and @shiraovide
| 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, Macworld, Engadget, Softpedia News, Digital Trends, Windows Central, XDA Developers, Thurrott, BGR, MacRumors, iMore, AppleInsider, BigTechWire, Six Colors, Neowin, and 9to5Mac
| 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, Philip Elmer‑DeWitt, and Reuters
| 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, and Wccftech. Tweets: @ibmresearch
| 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 … | 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 …
Tweets: @brianroemmele and @martinbluesky1
| 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.| 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
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