Techmeme
November 20, 2022, 1:45 AM

Top News

Reuters:
Twitter reinstates Trump's account, after Elon Musk ran a Twitter poll where 51.8% of 15M+ users voted yes to reinstatement, saying “the people have spoken”  —  Donald Trump on Saturday said he had no interest in returning to Twitter even as a slim majority voted in favor …
Financial Times:
FTX CEO John Ray III plans to attempt to sell or reorganize its businesses after a review found many of its subsidiaries have “solvent balance sheets”  —  Many of collapsed crypto group's subsidiaries have ‘solvent balance sheets’, John Ray III says
Wall Street Journal:
FTX says it has fired CTO Gary Wang, engineering director Nishad Singh, and Alameda Research CEO Caroline Ellison  —  The three executives and Mr. Bankman-Fried are said to have known FTX was using customer funds to plug a funding gap  —  FTX, the cryptocurrency exchange launched by Sam Bankman-Fried …
Wall Street Journal:
A look at the dispute between FTX's new management and Bahamian regulators over who should control the company's assets, and how the fight may affect customers  —  Liquidators in the Bahamas are embroiled in a dispute with FTX over who has control over crypto assets held in the country
Financial Times:
Altive: Xiaohongshu, considered as a Chinese equivalent to Instagram, has been valued at $10B-$16B in private markets in 2022, down from $20B in November 2021  —  China's answer to Instagram gained a $20bn valuation last year.  Then the tide turned for the country's start-ups
Paresh Dave / Reuters:
A court filing from Epic's lawsuit shows Google allegedly agreed to pay ~$360M over three years to keep Activision Blizzard from launching its own app store  —  Alphabet Inc's (GOOGL.O) Google has struck at least 24 deals with big app developers to stop them from competing with its Play Store …
Ryan Browne / CNBC:
Ripple says it is effectively “operating outside of the US” due to its legal fight with the SEC and is seeking a license in Ireland to drive EU expansion  —  - Ripple is expanding its presence in the EU, where it plans to “passport” its services through an entity in Ireland, General Counsel Stuart Alderoty told CNBC.
TechCrunch:
India's new draft data protection bill proposes allowing cross-border data transfer with certain countries, unlike an earlier version which imposed restrictions  —  India has proposed a new comprehensive data privacy law that will mandate how companies handle data of its citizens …

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