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February 22, 2025, 6:10 PM
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Francisco Rodrigues / CoinDesk:
DefiLlama: Bybit experienced a “bank run” of over $4B after the ~$1.5B hack, leading to a ~$5.5B total outflow; CEO says “about 50%” of funds were withdrawn  —  Major cryptocurrency exchange Bybit has seen total outflows of over $5.5 billion after it suffered …
David Yaffe-Bellany / New York Times:
Even as Trump embraces crypto, attracting millions of new investors, the Bybit hack and memecoins show how crypto remains the wild West of the financial world  —  Hours after Coinbase said the S.E.C. was dropping a lawsuit against it, another major cryptocurrency exchange reported a potentially record-setting theft.
Bloomberg:
Crypto exchange Bybit says a hacker took control of one of its cold Ethereum wallets, resulting in what analysts estimate was the loss of ~$1.5B worth of tokens  —  - North Korean group Lazarus suspected by industry researchers  — Prices of Ether, Bitcoin and other tokens decline after theft
More: BBC, DL News, Decrypt, CoinDesk, The Trail of Bits Blog, The Block, Cryptopolitan, Inside Bitcoins, Blockchain.News, TechCrunch, PC Gamer, Sky News, Bitcoin Insider, Coinpedia Fintech News, crypto.news, The Coin Republic, NullTX, Security Boulevard, CoinGape, The Sun, Chainwire, Wired, Crypto Briefing, 10x Market Updates, Yahoo Finance, Türkiye Today, PCMag, The Hacker News, CNBC, The Block, CryptoNinjas, ZyCrypto, Agence France-Presse, BleepingComputer, The Verge, Tech in Asia, PYMNTS.com, Associated Press, Wall Street Journal, TheStreet, Forbes, TheStreet, TradingView, Cointelegraph, Forbes, CryptoPotato, Bitcoin Insider, USA Insurance News …, Hackread, NewsBTC, Engadget, Fortune, Blockworks, Watcher Guru, CryptoPotato, The Crypto Times, The Record, Financial Times, The Block, Bloomberg, Finextra, The Coin Republic, Decrypt, Blockchain News, Reuters, The Crypto Times, ZeroHedge News, Cryptopolitan, NFTgators, Bitcoinist.com, CoinJournal, Web3 is Going Just Great, Benzinga, CryptoSlate, DL News, crypto.news, Coinpedia Fintech News, The Block, CoinGape, Crypto Briefing, and CoinDesk
Bluesky: @orobharris.  X: @bybit_official, @benbybit, @benbybit, @benbybit, @benbybit, @cz_binance, @mudit__gupta, @cryptohayes, @hasufl, @ethena_labs, @jconorgrogan, @gauthamzzz, @0xcygaar, @0xngmi, @a1lon9, @0xcygaar, @gracybitget, @benbybit, @adamscochran, @tradermayne, @salsatekila, @trading_axe, @zachxbt, @martybent, @kaiz3ns, @darkcryptolord, @deltaxbt, @cz_binance, @0xracist, @heyibinance, @cryptodonalt, @nearcyan, @litecoin, @justinsuntron, @divine_economy, @panamaxbt, @functi0nzer0, @beausecurity, @arthur_0x, @jconorgrogan, @lorenzofb, @0xgaut, @pythianism, @theflowhorse, @0xgaut, @devchart, @defisurfer808, @byzgeneral, @cousincrypt0, @wolfms_, @langeriuseth, @ashcryptoreal, @jacobkinge, @bitbitcrypto, @bitmexresearch, @mdudas, @spreekaway, @zhusu, @cobie, @0xfinish, and @mdudas
LinkedIn: Anastasios Papadopoulos and Todd H Baker
Forums: r/news, r/technology, and Slashdot
RT Watson / The Block:
Arkham says ZachXBT submitted proof that North Korea's Lazarus Group is behind Bybit's $1.5B hack, which is the largest single theft in crypto history
Brian Krebs / Krebs on Security:
An investigation details how Chinese cybercrime groups are turning phished payment card data into new Apple or Google wallets for online and in-store use  —  Carding — the underground business of stealing, selling and swiping stolen payment card data — has long been the dominion of Russia-based hackers.
Davide Castelvecchi / Scientific American:
Some physicists are skeptical about Microsoft's claims of achieving a quantum computing breakthrough with Majorana 1, citing the lack of detailed evidence  —  With its ‘topological’ quantum computers, Microsoft aims to reach useful scales faster than competing technologies
Erin Griffith / New York Times:
Many SV startups are using AI to boost productivity in research, coding, and more, reducing reliance on VC money for hiring, fueling “tiny team” success stories  —  Tech start-ups typically raised huge sums to hire armies of workers and grow fast.
Bloomberg:
The Hang Seng Tech Index, which tracks the top 30 Hong Kong-listed tech firms, rose 6.5% on February 21, hitting its highest level since early 2022  —  - Alibaba, Bilibili, Lenovo surge in HK after reporting results  — Xi's meeting with sector leaders is another catalyst: analyst
Lucinda Shen / Axios:
Renaissance Capital: 12 of 40 fintech firms that went public in the US since 2020 have given positive investor returns; only Shift4 and AppLovin are profitable  —  All topics  —  Situational awareness: OpenAI co-founder Ilya Sutskever is raising over $1 billion for his startup Safe Superintelligence …
David Heaney / UploadVR:
Apple releases visionOS 2.4 developer beta, adding Apple Intelligence, a guest mode, a Spatial Gallery app, an iPhone app for remote installs, and more  —  visionOS 2.4 will bring Apple Intelligence to Vision Pro, a Spatial Gallery app, an iPhone app for remote installs, and a new iPhone/iPad-driven guest flow.

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From Mediagazer

Alex Weprin / The Hollywood Reporter:
Filing: Byron Allen sold his 10.7% Starz stake over August and September, netting a bit less than $45M; he acquired it from Steve Mnuchin's Liberty 77 for $25M

Wall Street Journal:
MGM Resorts says talks with People Incorporated are over, after each weighed buying the other; MGM amended its voting deal with People, which owns ~27% of MGM

Mark Stenberg / Adweek:
A source and internal figures: Condé Nast forecasts $130M in Q4 US advertising, $35M+ below its goal; Condé Nast says the figures are “materially inaccurate”

More News

Ryan Christoffel / 9to5Mac:
iOS 18.4 dev beta adds Apple Intelligence-powered Priority Notifications, to show important alerts in a separate lock screen section at the top, off by default
Reuters:
President Trump signs a memorandum to consider retaliatory measures, including tariffs, on countries that impose digital service taxes on US tech companies

Earlier Picks

Muyao Shen / Bloomberg Tax:
NFT marketplace OpenSea says the US SEC has ended an investigation into the company, after OpenSea received a Wells Notice in August 2024
Reuters:
Sources: US negotiators pressing Ukraine for access to its minerals raised the possibility of cutting the country's access to Starlink if a deal is not reached
Cade Metz / New York Times:
OpenAI says it found evidence of an AI-powered surveillance tool used by a Chinese security operation to identify anti-China posts on social media in the West
Mark Gurman / Bloomberg:
Apple removes Advanced Data Protection for iCloud in the UK after the government ordered it to build a backdoor, something the company says it will never do
More: TechCrunch, BBC, The Verge, Benzinga, The Gateway Pundit, 9to5Mac, Washington Post, Tech Policy Press, Daily Mail, Human Events, TechSpot, Metro.co.uk, Security Affairs, Ubergizmo, TidBITS, EasternEye, Forbes, Telegraph, Bloomberg, MacRumors, PCMag, Electronic Frontier Foundation, Reuters, Daring Fireball, MacTrast, Redmond Pie, Android Headlines, mjtsai.com, PhoneArena, Financial Times, The Indian Express, Six Colors, SiliconANGLE, iDownloadBlog.com, Wall Street Journal, mobilenewscwp.co.uk, The Standard, ZeroHedge News, and Philip Elmer‑DeWitt
Bluesky: @brunojnavarro, @carnage4life, @aricohn.com, @northamptonian, @radiobeartime.com, @chancemiller.me, and @martinsfp
Mastodon: @matt@isfeeling.social, @mshelton@mastodon.social, @ErikJonker@mastodon.social, @zackwhittaker@mastodon.social, @RabBrucesSpider1 …, and @FirewallDragons …
Threads: @benedictevans, @timothybucksf, and @parkert
X: @zooko, @aditi_muses, @philrodgers, @ggreenwald, @tomhfh, @matthew_d_green, @wcathcart, @timsweeneyepic, @timsweeneyepic, @scott_helme, @matthew_d_green, @matthew_d_green, @markgurman, @bryanglick, @vxunderground, @jamesrbuk, @davidtpegg, @willguyatt, @profwoodward, @shellenberger, @uk_daniel_card, @martynday, @migueldeicaza, @mysk_co, @jamestitcomb, @kimzetter, @bzamayo, @timsweeneyepic, @matthew_d_green, @bzamayo, @matthew_d_green, @matthew_d_green, @matthew_d_green, @dcurtis, @markgurman, @leokelion, and @markgurman
LinkedIn: Samantha Simms, Jessica Shurson, Peter Slack, Matt Abrams, Abid Patel, Joe Jones, Brian Honan, Marc Lawn, and Nigel Smart
Forums: Hacker News, r/technology, r/news, r/privacy, r/iphone, r/europe, r/technology, r/hardware, r/technology, r/anime_titties, r/applesucks, r/apple, r/worldnews, r/tech, r/iphone, r/technews, Slashdot, and MacRumors Forums
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