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November 10, 2022, 9:00 AM
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memeorandum
WeSmirchTop 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 leaves FTX with uncertain future as it faces multibillion-dollar shortfall — Sam Bankman-Fried in Talks to Raise More Funding
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Sequoia Capital, CoinDesk, The Block, Bloomberg, CNN, Reuters, CoinDesk, CNBC, New York Times, Decrypt, Finbold, Bloomberg, Whitespace, CoinDesk, Reuters, Barron's Online, TIME, Blockworks, Politico, Coinpedia Fintech News, CryptoGlobe, WRAL TechWire, CryptoPotato, Cryptopolitan, Trustnodes, Digits to Dollars, Protos, Deadline, Bitcoinist.com, CoinGape, Coinspeaker, Cointelegraph, BBC, Ethereum World News, Protocol, crypto.news, Crypto Daily, Fortune, Reuters, and CryptoSlate
Tweets: @binance, @cz_binance, @justinsuntron, @halocrypto, @cobie, @cz_binance, @zebulgar, @binance, @genesistrading, @jespow, @tier10k, @tier10k, @iamdcinvestor, @firstadopter, @hsakatrades, @1markmoss, @fintechfrank, @autismcapital, @p3b7_, @cobie, @jespow, @ianthetechie, @cmsintern, @cryptohayes, @goodalexander, @cz_binance, @jgarzik, @binance, @ldrogen, @rleshner, @adamscochran, @cobie, @rajgokal, @functi0nzer0, @deitaone, @brian_armstrong, @asvanevik, @shaanvp, @cobie, @ohyoublockhead, @tuurdemeester, @basedkarbon, @lowstrife, @binance, @thestalwart, @hsakatrades, @functi0nzer0, @fiskantes, @beeple, @paleofuture, @hsakatrades, @henrytheeth, @chadlums, @nic__carter, @cryptohayes, @econoar, @tree_of_alpha, @autismcapital, @obsoletedogma, @tree_of_alpha, and @tier10k
| Tanaya Macheel / CNBC: |
Major coins are plummeting: Solana crashes 30%+ to ~$14, bitcoin drops 14%+ to below $17,000, a new low since November 2020, and ether drops 17%+ to ~$1,200 — FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
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CoinDesk, Blockworks, The Block, DCD, Arthur Hayes, Protocol, Cointelegraph, CNBC, Forkast, Protos, and Bloomberg
| Reuters: |
Sources detail FTX's rise and fall: CZ's ~$100M investment in 2019, deteriorating relationship with Binance, significant losses at Alameda in 2022, and more — On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
More:
CoinDesk, The Block, Finbold, Crypto Briefing, Crypto Daily, Bitcoin Global Macro, Tech Monitor, and Coinspeaker
| Dan Primack / Axios: |
Sequoia tells partners the firm marked down its FTX investment of $213.5M across two funds to $0, saying it “ran a rigorous diligence process” before investing — - 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.
More:
Bloomberg, Newcomer, The Guardian, Blockworks, Coinspeaker, CoinGape, and TheBitTimes.Com's Newsletter
Tweets: @sequoia, @thestalwart, @ericnewcomer, and @ericnewcomer
| Gillian Tan / Bloomberg: |
Source: citing an $8B shortfall, Sam Bankman-Fried told investors that FTX needs a cash injection or the company will need to file for bankruptcy — Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy …
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Wall Street Journal, Fortune, New York Times, CNN, CoinDesk, Financial Times, Coinspeaker, The Block, Insider, and Coinpedia Fintech News
Tweets: @tier10k, @zhusu, and @cryptoinsightuk
| Bryce Elder / Financial Times: |
As FTX faces bankruptcy, an attempt to untangle its extremely complex corporate structure, which could pose a problem for liquidators and law enforcement — Relationship status: it's complicated — With crypto exchange FTX short $8bn and hurtling towards bankruptcy …
Tweets: @bondhack, @lefterisjp, @jsphctrl, @gersonmartinez, @nvk, @mayazi, @moo9000, @jeuasommenulle, @louis_ashworth, @bondhack, @vince_stanzione, @adamscochran, and @adam3us
| Callan Quinn / The Block: |
Binance shares addresses for its wallets and details its holdings: 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, 58M BNB, and a $1B SAFU fund — - Binance has released the addresses of its hot and cold wallets. — It provided a snapshot of its current holdings.
More:
Binance Blog, CoinDesk, and CoinGape
Tweets: @cz_binance, @paleofuture, @asvanevik, @nansenportfolio, @tree_of_alpha, @wublockchain, and @laurashin
| 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 … | Shaurya Malwa / CoinDesk: |
More:
Decrypt, The Block, Wired, and Cryptopolitan
| Kyle Wiggers / TechCrunch: |
After Twitter labels select accounts as “Official”, Elon Musk says he “killed it” and an executive says the label “is still going out” as part of the new Blue — Update: Well, that was fast. The grey checks have begun to disappear following a tweet …
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Engadget, BleepingComputer, Insider, Wall Street Journal, PCMag, Ars Technica, The Verge, Washington Post, PhoneArena, Associated Press, Android Headlines, NBC News, City A.M., Music Ally, and CNBC
Tweets: @esthercrawford, @esthercrawford, @esthercrawford, @elonmusk, @elonmusk, @waemd, @elonmusk, @agoldmund, @esthercrawford, @mcuban, @mmasnick, @esthercrawford, @esqueer_, @maxwelltani, @dril, @mkbhd, @mkbhd, @mmasnick, @fascinated, @dangeredwolf, @mattbinder, @alexvtunzelmann, @mds, @levie, @frankluntz, @adambroach, @steve_vladeck, @ditzkoff, @caseynewton, @dojacat, @mcuban, @mlothianmclean, @caseynewton, @malwaretechblog, and @adamliaw
| 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.
More:
TechCrunch, The Verge, CNN, 9to5Mac, Insider, TMZ.com, Digg, Snopes, NBC News, Mashable, Video Games Chronicle, and NBC Bay Area
| Mark Gurman / Bloomberg: |
Apple limits iOS' AirDrop in China for receiving files from non-contacts to 10 minutes after its use in protests, and plans to change the global default in 2023 — 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.
More:
9to5Mac, XDA Developers, VICE, The Verge, AppleInsider, South China Morning Post, TechSpot, iMore, BGR, Engadget, Mashable, and Neowin
Tweets: @zeyiyang, @markmilian, and @therealjoshye
| Kurt Wagner / Bloomberg: |
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and ends remote work policies, saying employees should be in 40+ hours per week — New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
More:
The Verge, TechCrunch, Protocol, ZDNet, Gizmodo, The Guardian, Engadget, BBC, PCMag, The Economic Times, Financial Times, Insider, TechCircle, and Reuters
Tweets: @gergelyorosz, @gergelyorosz, @sifill_, and @louiseridley
| Becky Peterson / The Information: |
Report: Twitter filed to register with the US Treasury to process payments; source: Twitter is working on a product that accepts cryptocurrencies including DOGE — Twitter is taking steps to launch a payment processing product that could put it into competition with PayPal.
| Kif Leswing / CNBC: |
Apple plans to launch Emergency SOS with Satellite in November and invest $450M in US companies to support the infrastructure, with most going to Globalstar — - Apple said Thursday that it will spend $450 million with U.S. companies including Globalstar to enable its new emergency satellite texting feature.
More:
Apple, MacRumors, AppleInsider, 9to5Mac, and BGR
Tweets: @brandonbutch, @tme_michael, @wright18ted, and @brandonbutch
| Sara Fischer / @sarafischer: |
[Thread] Elon Musk tells advertisers in a Spaces chat that Twitter plans to improve ad relevance, he will pay to verify brands if they don't want to, and more — 1/ Live tweeting @elonmusk Twitter spaces w advertisers: Q: What's biggest learning so far? —"The overarching goal here is, how can we make Twitter a force for good in civilization?" —"We want to be in rigorous pursuit of the truth, to be somewhat in the business of truth"
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Adweek, Digiday, New York Times, Vox, Axios, Engadget, Finextra, TheGamer, Android Headlines, Bloomberg, and Dexerto
Tweets: @nandoodles, @justinhendrix, @oneunderscore__, and @mmasnick
| Cameron Thompson / CoinDesk: |
OpenSea plans to continue to enforce NFT royalties on its platform, after X2Y2, Magic Eden, and LooksRare altered their NFT royalty structures — “The world is otherwise burning, but we decided this couldn't wait,” a representative from OpenSea told CoinDesk.
Tweets: @opensea
| Politico: |
Experts and Western officials say the Egyptian government's Android app for the COP27 climate summit could help spy on emails, messages, and voice conversations — Western security advisers are warning delegates at the COP27 climate summit not to download the host Egyptian government's … | Gian M. Volpicelli / Wired: |
Law enforcement officers specializing in cryptocurrency investigations are leaving government agencies to join companies like Binance, Coinbase, and Chainalysis — Hunting down crypto criminals is a dying art as law enforcement officers jump in-house. — In the course of a decade … Sponsor Posts
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