Techmeme
December 30, 2022, 11:55 PM

Top News

Wall Street Journal:
Sources: Sam Bankman-Fried will likely plead not guilty to fraud and other charges at a January 3 hearing; SBF returns to Twitter to deny he moved Alameda funds  —  FTX founder Sam Bankman-Fried is likely to plead not guilty to eight counts of fraud at a hearing next week, according to a person familiar with the matter.
Reuters:
The Bahamas' Securities Commission says it is holding FTX assets worth $3.5B temporarily and plans to deliver them to customers and creditors who own them  —  The Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing …
New York Times:
Sources detail Elon Musk's Twitter cost-cutting measures, including closing a data center, reducing training for new staff, and canceling janitorial services  —  Elon Musk has reduced the company to a bare-bones operation, and employees are under a “zero-based budgeting” mandate to justify any spending.
Taylor Soper / GeekWire:
After not paying rent, Twitter is reportedly closing its Seattle office, its second-largest engineering hub outside of San Francisco, and asking staff to WFH  —  Twitter is reportedly facing eviction at its Seattle office and is asking employees to work from home as the social media giant looks to cut costs under new owner Elon Musk.
Matt Levine / Bloomberg:
Crypto created a toy financial system and had a toy financial crisis; in order to work in the long run, crypto must prove its real usefulness outside of finance  —  On Oct. 25, Bloomberg Businessweek published “The Crypto Story,” a cover-to-cover issue of the magazine that I wrote about what crypto is and what it all might mean.
Emily Birnbaum / Bloomberg:
Tim Wu, who helped shape Joe Biden's antitrust agenda, plans to leave his adviser role on January 4 and return to teaching antitrust law at Columbia Law School  —  Adviser Tim Wu, who helped to shape President Joe Biden's antitrust agenda, will leave his position Jan. 4, the White House said Friday.
Ryan Broderick / Polygon:
A look at the disastrous 2022 for NFT-based games, after interest from EA, Ubisoft, Zynga, Niantic, and others, as the community grew more niche and scam-filled  —  The NFT gaming community only grew more niche and scam-filled in 2022  —  Less than 12 months ago, it felt as if 2022 …
Sam Kessler / CoinDesk:
Sam Kessler / CoinDesk:
Dan Strumpf / Wall Street Journal:

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Earlier Picks

Cameron Faulkner / The Verge:
Hannah Miller / Bloomberg: