Techmeme
November 9, 2022, 11:00 PM

Top News

Wall Street Journal:
Binance abandons its rescue acquisition offer for FTX after reviewing FTX's finances, saying “the issues are beyond our control or ability to help”  —  Crypto exchange's decision comes as it conducts due diligence on FTX  —  Sam Bankman-Fried in Talks to Raise More Funding
Bloomberg:
Sources: the SEC and the CFTC are investigating whether FTX.com mishandled customer funds and FTX's relationship with other parts of Sam Bankman-Fried's empire  —  US financial regulators are investigating whether beleaguered crypto-exchange FTX.com properly handled customer funds …
Tanaya Macheel / CNBC:
Major coins are plummeting: bitcoin drops 14%+ to below $16,000, a new low since November 2020, ether drops 17%+ to ~$1,100, and Solana crashes 40%+ to ~$13  —  FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
Joshua Oliver / Financial Times:
Dan Primack / Axios:
Sequoia tells investors it is marking down its FTX investment, totaling $213.5M across two funds, to zero dollars, saying it “ran a rigorous diligence process”  —  - Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund's total capital commitment.
Tom Maloney / Bloomberg:
Sam Bankman-Fried's estimated $15.6B fortune may have been annihilated to ~$1B by the demise of FTX and Alameda, the largest one-day drop for a billionaire yet  —  Just weeks ago, Sam Bankman-Fried was considered crypto's version of John Pierpont Morgan, willing to throw around his massive fortune to save the industry.
Shaurya Malwa / CoinDesk:
After FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit, and Bybit pledge to publish their Merkle tree reserve certificates  —  Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month.
Kyle Wiggers / TechCrunch:
Taylor Hatmaker / TechCrunch:
Fake Twitter accounts of athletes and other celebrities, some now suspended, are spreading fake announcements and chaos as paid Blue checkmarks become available  —  Elon Musk's mercurial leadership and half-baked product plans are already creating fertile ground for confusion on Twitter.
Sara Fischer / @sarafischer:
Meta:
Mark Zuckerberg says Meta plans to lay off ~13% of its staff, or 11,000+ employees, and cut discretionary spending and extend its hiring freeze through Q1 2023  —  Mark Zuckerberg just shared the following with Meta employees:  —  Today I'm sharing some of the most difficult changes we've made in Meta's history.
Tom Warren / The Verge:
Microsoft begins to roll out iCloud Photos integration in Windows 11 through an update to the built-in Windows Photos app  —  Microsoft is starting to roll out iCloud Photos integration into Windows 11.  A new update to the Photos app in Windows 11 is now available, which will include …
Mark Gurman / Bloomberg:
Apple limits AirDrop in China on iOS to a 10-minute window for non-contacts after its use in protests; Apple will change the default globally in the coming year  —  Apple Inc. has limited the AirDrop wireless file-sharing feature on iPhones in China after the mechanism was used by protesters to spread images to other iPhone owners.
Frederic Lardinois / TechCrunch:
IBM unveils its Osprey quantum processor with 433 qubits, up from 127 in its 2021 Eagle processor, and plans to hit 4,000+ with its Kookaburra processor in 2025  —  IBM wants to scale up its quantum computers to over 4,000 qubits by 2025 — but we're not quite there yet.

Sponsor Posts

ElevenLabs:
ElevenAgents by ElevenLabs  —  You know us for voice.  Now meet ElevenAgents — featuring Expressive Mode, our most human-sounding AI voice technology in 70+ languages with ultra-low latency.  Hear it for yourself.
Niantic Spatial:
World models need real-world data  —  Scaniverse is the gateway to spatial services — self-serve and built for AI and robotics.  Large-area 3D reconstruction from 360° cameras and precise localization, anywhere machines operate.
Zoho:
Introducing the sandbox environment: Safely test and optimize e-signature workflows  —  Changes are an inevitable part of any workflow.  The average agreement workflow involves recipients across organizations …
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Big Technology Podcast:
Anthropic's Mythos Dilemma, Violence Against AI, Tokenmaxxing at Meta
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Hard Fork:
Anthropic's Cybersecurity Shock Wave + Ronan Farrow and Andrew Marantz on Their Sam Altman Investigation + One Good Thing
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
Subscribe to Hard Fork.
The Upstarts Podcast:
Decagon's Jesse Zhang: Closing Customer Service Doom Loops With AI Concierges
Veteran tech reporter Alex Konrad sits down with breakout entrepreneurs taking on the status quo to shake up their fields in AI, design, nuclear energy, space, and more.
Subscribe to The Upstarts Podcast.
Access:
OpenClaw for normies is here
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
The Nick, Dick and Paul Show:
When AI Kills
Nick Bilton, Dick Costolo, and Paul Kedrosky pull back the curtain on AI, startups, and the future rushing toward us, all with healthy dose of irreverence.
Subscribe to The Nick, Dick and Paul Show.
Tools and Weapons with Brad Smith:
Ryan Roslansky: Turning AI Anxiety into Skills for the Future of Work
Microsoft Vice Chair and President Brad Smith speaks with leaders in government, business, and culture to explore the most critical challenges at the intersection of technology and society.
Subscribe to Tools and Weapons with Brad Smith.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 11:00 PM ET, November 9, 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

Dylan Martin / The Register:
James Vincent / The Verge:

Earlier Picks