| Juliana Liu / CNN: |
Chinese state media: a five-day COVID lockdown in Zhengzhou, home of Foxconn's “iPhone City”, has been lifted; an analyst says disruptions cost Apple ~$1B/week — Hong Kong CNN Business — The central Chinese city of Zhengzhou, home to the world's largest iPhone factory … | Josh Horwitz / Reuters: |
Analysis of Apple's supply chain data shows 44% to 47% of suppliers were China-based between 2014 and 2019, dropping to 41% in 2020 and 36% in 2021 — Apple Inc's (AAPL.O) wide exposure to Chinese manufacturing, notable both for its low costs and rising risks, has receded since the COVID-19 pandemic began … | Financial Times: |
Interviews detail FTX and SBF's lavish spending, aided by minimal internal controls, including $300M+ on Bahamas real estate and chartering Amazon deliveries — When crypto exchange FTX moved its headquarters to the Bahamas from Hong Kong last year, employees discovered that Amazon did not deliver to the island.| Gregory Zuckerman / Wall Street Journal: |
Sources detail Alameda's early years, starting in fall 2017, as SBF shrugged off concerns about risky investments, leading several employees to quit in 2018 — ‘We ended up not really knowing how much money we even had,’ one former employee says — Why FTX Picked the Bahamas, and What Happens Now to the Crypto Hub| Marco Quiroz-Gutierrez / Fortune: |
In an interview, SBF claims he donated about the same amount to both parties in 2022 but the GOP donations were “dark” money, discusses Alameda, FTT, and more — Sam Bankman-Fried's donations to Democrats are well documented. In an interview released Tuesday … | Manish Singh / TechCrunch: |
The European Central Bank says that bitcoin is “rarely used for legal transactions” and is on the “road to irrelevance”, without citing any strong data points — European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions … | Danny Nelson / CoinDesk: |
US crypto exchange Kraken plans to lay off 1,100 people, or 30% of its workforce, citing a need to “adapt to current market conditions” — The crypto exchange is laying off 1,100 people, sending its headcount back 12 months. — Crypto exchange Kraken said Wednesday … | Jackie Davalos / Bloomberg: |
Memo: DoorDash plans to lay off around 1,250 employees, aiming to curb expenses; sources say that represents around 6% of its workforce — DoorDash Inc. is cutting about 1,250 jobs to rein in expenses, acknowledging that a rapid expansion during the pandemic boom has led to mounting losses.| Yogita Khatri / The Block: |
Binance acquires Japan-based licensed exchange Sakura Exchange BitCoin for an undisclosed sum, the exchange's re-entry to Japan and first license in East Asia — - Binance has entered Japan by acquiring the locally licensed exchange Sakura Exchange BitCoin (SEBC). — The terms of the deal were not disclosed.| Taylor Locke / Fortune: |
Uniswap Labs launches an NFT marketplace aggregator with listings from OpenSea, LooksRare, NFTX, and others, after acquiring the aggregator Genie in June — Though sales of nonfungible tokens, or NFTs, have dropped substantially amid the ongoing Crypto Winter, Uniswap Labs remains bullish on the future of the market.| Carly Page / TechCrunch: |
Google says Barcelona-based spyware vendor Variston planted spyware by exploiting zero-day flaws in Chrome, Firefox, and Windows between 2018 and 2022 — A Barcelona-based company that bills itself as a custom security solutions provider exploited several zero-day vulnerabilities in Windows … | Ariel Shapiro / The Verge: |
Spotify releases Wrapped 2022 for users, adding a “music personality” feature, and says Joe Rogan, Emma Chamberlain, and others were its top podcasters — Spotify Wrapped is here, and with it, a slew of year-end charts, data, and graphics ripe for sharing.| Platformer: |
Internal messages: Twitter's EMEA ad revenue dropped 15% YoY and weekly bookings are down 49%; source: Blue is delayed as Twitter seeks to skirt App Store fees — Revenues are in free fall, employees say. Can Musk turn the tide? — and Zoë Schiffer| David Pan / Bloomberg: |
As crypto miners default on loans, lenders could receive mining equipment as collateral, a popular financing tool, increasing losses as the rigs' value plunges — Beleaguered crypto lenders are being dealt another blow from Bitcoin miners as they weather the aftermath of the FTX collapse.| Ivan Mehta / TechCrunch: |
Airbnb launches a program to help renters find an apartment in 25 US markets and then list a spare room or occasionally the whole apartment on the platform — Airbnb really wants you to Airbnb an apartment. So its latest step is to find renters a place, which they can also list on the travel booking platform.| Olivia Carville / Bloomberg: |
A look at TikTok's role in spreading the “blackout challenge”, leading some kids to choke themselves to death, as critics say the company could be doing more — “Sissy's tangled!” — The 5-year-old boy's panicked cries echoed down the hallway of the Arroyos' three-bedroom clapboard house in Milwaukee.| Financial Times: |
SpaceX's Starlink increases the price for new Ukrainian customers to $700, far above the $385 cost from earlier in 2022; monthly subscriptions rise to $75 — Cost of communications devices made by Elon Musk-owned SpaceX set to rise due to Russian assault on electricity grid| Lucía Cholakian Herrera / Rest of World: |
As inflation grows in Argentina, locals use Mercado Pago and other digital wallets to protect their pesos but must deal with crypto's scam and theft issues — Payment apps cushion users from a falling peso but won't protect them from theft. — • BUENOS AIRES, ARGENTINA| Emily Nicolle / Bloomberg: |
Emboldened by FTX's collapse, the disgraced founders of Terra, Celsius, and Three Arrows Capital have reemerged, offering their thoughts on SBF, FTX, and more — Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. If someone forwarded this to you, sign up here.| Financial Times: |
A look at China's growing interest in the open-source Risc-V chip architecture after US sanctions, including enlisting Alibaba and Tencent to help design chips — Chinese government steps up push to use Risc-V in move aimed at boosting domestic production of semiconductors| Bloomberg: |
Sources: LedgerX, known as FTX US Derivatives, plans to make $175M available for FTX's bankruptcy, part of a $250M fund reserved for a CFTC application — LedgerX — one of the few corners of Sam Bankman-Fried's crumbled crypto empire that remain solvent — is preparing to make available $175 million … | Annie Lowrey / The Atlantic: |
Surveys: as of 2021, Black Americans were more likely than their white counterparts to own crypto and more likely to own crypto than stocks or mutual funds — Two years ago, a Maryland-based information-technology specialist—who asked to remain anonymous for reasons that will become apparent in a minute … | Kyle Wiggers / TechCrunch: |
NYC-based Teampay, a low-code service to help enterprises automate software purchasing, raised a $47M Series B, comprising $35.25M equity and $11.75M debt — In 2016, Andrew Hoag, formerly a senior manager at Verisign and a web project lead at NASA's Ames Research Center, founded Teampay … | Christiana Loureiro / The Block: |
IBM and Maersk plan to shutter their blockchain supply chain service TradeLens, launched in 2018, in Q1 2023; Maersk blames a lack of industry collaboration — - The companies made a viable platform but couldn't get a global collaboration going. — Danish shipping company Maersk and IBM … | Alex Cranz / The Verge: |
Amazon Kindle Scribe review: great battery, display, and accessories, but lackluster notetaking, outdated document syncing and software, and small writing delay — Amazon's biggest Kindle ever is also the first to let you pair it with a stylus for note-taking.| The Intercept: |
Some prominent antifascist organizers and journalists have had Twitter accounts suspended in the past week, after right-wing operatives appealed to Elon Musk — Elon Musk claims to be “fighting for free speech in America” but the social network's new owner appears to be overseeing a purge of left-wing activists from the platform.
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