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November 11, 2022, 3:35 PM
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Elizabeth Lopatto / The Verge:
Twitter reactivates its gray “Official” badge for select high-profile accounts, after a wave of impersonators bought blue checks  —  Okay, so Twitter broke its own verification system by making the blue check — previously a signal that the account had provided information …
Washington Post:
Internal note: Twitter has temporarily disabled sign-ups for Twitter Blue to “help address impersonation issues” affecting brands, politicians, and celebrities  —  Twitter accounts impersonating celebrities and politicians spread on the site after the company rolled out paid check marks.
Bloomberg:
Twitter's head of Trust & Safety Yoel Roth resigned on November 10; sources: head of ad sales Robin Wheeler also resigned, but Elon Musk convinced her to stay
MacKenzie Sigalos / CNBC:
FTX, FTX US, and Alameda file for Chapter 11 bankruptcy in the US; Sam Bankman-Fried resigns as CEO  —  - Sam Bankman-Fried's cryptocurrency exchange FTX has filed for bankruptcy.  — Alameda Research and approximately 130 additional affiliated companies are part of the voluntary proceedings.
Nikhilesh De / CoinDesk:
BlockFi pauses withdrawals and asks users not to deposit to its wallet or interest accounts, saying it can't operate normally amid “lack of clarity” around FTX  —  BlockFi had made a deal with FTX earlier this year.  —  Crypto Lender BlockFi said it could not conduct business …
Zane Tackett / @tackettzane:
[Thread] FTX's former Institutional Sales head looks at its balance sheet and options, including bankruptcy or issuing a token, and their pros and cons  —  1/I obviously have 0 say at this point, but hey, interested to hear others' thoughts: Two options: A) bankruptcy B) token [THESE ARE NOT CONCRETE NUMBERS] Liabilities: -8.8bn Liquid assets: 900m Less liquid: 2.037bn Illiquid: 3.2bn liquid hole: -7.9bn illiquid hole: -2.66bn
Bloomberg:
The Bahamas Securities Commission freezes the assets of FTX Digital Markets and “related parties” and appoints an attorney as a provisional liquidator
Wall Street Journal:
Source: SBF told investors that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as a poor judgment call
New York Times:
Interviews with 36 current and former Twitter employees and people close to the company detail the excruciating fallout of Elon Musk's first two weeks in charge  —  Mr. Musk ordered immediate layoffs, fired executives by email, laid down product deadlines and has transformed the company.
Erin Woo / The Information:
Sources: at an all-hands, Elon Musk told staff that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”
Financial Times:
A look at Sam Bankman-Fried's rise and fall in DC: becoming the face of crypto, backing a digital commodity bill, and testifying before congressional committees  —  Sam Bankman-Fried sought digital asset legislation and donated heavily to Democrats  —  In less than four years …
Tracy Wang / CoinDesk:
Current and former FTX and Alameda staff describe rampant conflicts of interest, nepotism, and a lack of oversight while SBF ran the companies with housemates  —  “The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.

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From Mediagazer

Todd Spangler / Variety:
FCC Chairman Brendan Carr says ABC's decision to not carry Trump's July 16 speech about elections live will be part of its review for ABC-owned station licenses

Dade Hayes / Deadline:
TelevisaUnivision reports Q2 revenue up 10% to $1.3B due to FIFA rights in Mexico, US ad revenue down 29% to $323.3M, subscription and licensing up 40% to $621M

Kelcee Griffis / Bloomberg:
Comcast reports Peacock revenue up 54% YoY to $1.9B and its adjusted EBITDA of $189M, its first-ever quarterly profit; film revenue rose 25% YoY to $3.04B

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