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.

Sponsor Posts

Meta:
Open Source AI: Available to all, not just the few  —  Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Zoho:
The crossroads of AI and SaaS  —  Enabling businesses of all sizes to build products in-house and disqualifying SaaS tools that are not AI-powered.  In a span of just two years, AI has made a name for itself as the key driver for innovation.
Genesys:
Executive Insights: The Era of Contact Center AI Copilots  —  How AI copilots are transforming customer experience and agent performance.
Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Techmeme Ride Home:
Fri. 12/20 - Gemini Flash Thinking
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 12:30 PM ET, November 16, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Josh Ye / Reuters:
Allison Johnson / The Verge:

Earlier Picks