Techmeme
November 16, 2022, 12:30 PM

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:
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.
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 …
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.
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) …
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 …
Colin Wilhelm / The Block:
The House Financial Services Committee plans a hearing on FTX's collapse in December and invites Sam Bankman-Fried and other executives  —  - The House Financial Services Committee will hold a hearing on FTX in December.  — In a joint statement announcing the hearing, current Chair Maxine Waters …
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.
Will Feuer / Wall Street Journal:
Citing a weakened market, Micron says wafer production for DRAM and NAND memory chips will be down about 20% over the past quarter; Micron's stock falls 5%+  —  Company cites market conditions for softening demand  —  Micron MU -5.04%decrease; red down pointing triangle Technology Inc …
Hartley Charlton / MacRumors:
Apple plans to expand Emergency SOS via Satellite to France, Germany, Ireland, and the UK in December 2022, expanding the service beyond the US and Canada  —  The iPhone 14 lineup's Emergency SOS via satellite and Find My via satellite features will launch in four additional countries next month, Apple today announced.

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