Techmeme
November 16, 2022, 9:25 AM

Top News

Reuters:
A look at SBF's desperate efforts to raise $7B+ from Sequoia, Apollo, TPG, the Saudis, and others; FTX's internal accounting software hid FTX-Alameda transfers  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Sidhartha Shukla / Bloomberg:
A wallet linked to the suspected FTX hacker swapped ~$49M of stablecoins for ether, taking its haul to 228,523 ETH and becoming the 35th largest ETH holder  —  The hacker who raided Sam Bankman-Fried's collapsed crypto exchange FTX is now one of the world's biggest holders of the token Ether.
Milky Eggs:
Everything we know about FTX's collapse: losses are likely >$15B, trades became increasingly risky, SBF was erratic, rash, and relied on stimulants, and more  —  If you want to read a poorly researched fluff piece about Sam Bankman-Fried, feel free to go to the New York Times (PDF).
Wall Street Journal:
Washington Post:
In an email to Twitter staff, Elon Musk gives an ultimatum: commit to a new “hardcore” Twitter by 5pm ET on Thursday or leave with three months severance  —  It comes as Musk's first major feature, Twitter Blue Verified, was halted while the company probes issues that arose from its launch.
Casey Newton / @caseynewton:
Kurt Wagner / Bloomberg:
Nelson Wang / CoinDesk:
Genesis' crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Mark Gurman / Bloomberg:
Internal meeting: Tim Cook told German engineering and retail staff that Apple plans to start sourcing chips from a plant under construction in Arizona in 2024  —  Apple Inc. is preparing to begin sourcing chips for its devices from a plant under construction in Arizona …
Jay Peters / The Verge:
Elon Musk says the new Twitter Blue will relaunch on November 29 “to make sure that it is rock solid”, after pausing signups due to many fake verified accounts  —  Elon Musk says the new Twitter Blue, which lets you pay $7.99 per month for a blue verification check mark next to your name, will relaunch on November 29th.
CNBC:
Despite repeated assurances from Crypto.com CEO Kris Marszalek, customers worry over the exchange's solvency; Crypto.com's CRO token drops ~40% in the past week  —  - Crypto.com CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …
Oliver Knight / CoinDesk:
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …
Matthias Bastian / The Decoder:
Meta AI and Papers with Code unveil Galactica, an open-source LLM for generating literature reviews, wiki articles, lecture notes on scientific topics, and more  —  The Galactica large language model (LLM) is being trained with millions of pieces of academic content.
Allison Johnson / The Verge:
Qualcomm unveils the Snapdragon 8 Gen 2, claiming 35% faster CPU performance, 25% Adreno GPU performance, Wi-Fi 7 support, and up to 4.35x faster AI performance  —  Qualcomm has announced all the details of its next flagship chipset, the Snapdragon 8 Gen 2, with a focus on better and more efficient performance for AI-related tasks.
Claire Woodcock / VICE:
Some public libraries in the US and Canada are using open-source software MUSICat to offer their own music streaming services and boost their local music scenes  —  It's not Spotify, but some cities now host music platforms with their own local flavor.  —  Claire Woodcock
Jess Weatherbed / The Verge:
DuckDuckGo launches App Tracking Protection in public beta on Android, helping block third-party trackers within apps  —  DuckDuckGo's App Tracking Protection is now available for public beta testing on all Android devices after launching in a limited beta almost one year ago.
Josh Ye / Reuters:
Tencent reports Q3 revenue down 2% YoY to ~$19.8B, below ~$20B estimates, and plans to distribute most of its ~$20B Meituan stake to shareholders as a dividend  —  Tencent Holdings (0700.HK) on Wednesday said it would distribute most of its stake worth $20.3 billion in food delivery firm Meituan …
Varsha Bansal / Rest of World:
Some Indian gig workers, tired of algorithms dictating their lives and work, are using Telegram to share cheap hacks for gaming the platforms to their advantage  —  Tired of the obscurity around black box algorithms that dictate their lives, India's gig workers are coming up with jugaads to game the system.

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