Techmeme
November 8, 2022, 3:50 PM

Top News

Changpeng Zhao / @cz_binance:
Binance CEO Changpeng Zhao says the company signed a non-binding LOI to fully acquire FTX.com and help cover its liquidity crunch, pending due diligence  —  This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
More: Bloomberg, New York Times, The Block, CoinDesk, Semafor, Ed Zitron's Where's Your Ed At, CoinDesk, Reuters, TheStreet, Bloomberg, Crunchbase News, BetaKit, Decrypt, Forbes, TechCrunch, VentureBeat, PYMNTS.com, Financial Times, Engadget, The Guardian, SiliconANGLE, The Verge, Blockworks, TechCrunch, Wall Street Journal, Finbold, Protocol, Tech Monitor, The Economic Times, Wall Street Journal, Finextra, Dexerto, Fortune, NewsBTC, Cointelegraph, TIME, Ethereum World News, WRAL TechWire, ZyCrypto, CryptoSlate, The Daily Hodl, Politico, Forbes, Coinpedia Fintech News, Protos, Crowdfund Insider, Bitcoinist.com, Crypto Daily, Bitcoin News, The Bitcoin Layer, Bitcoin Magazine, Monkey Business, Fortune, Axios, Reuters, CNBC, CoinGape, Trustnodes, and CryptoPotato
Angus Berwick / Reuters:
In a message to staff, FTX CEO Sam Bankman-Fried says withdrawals on FTX.com are “effectively paused” after FTX saw $6B in net withdrawals in 72 hours  —  Crypto exchange FTX saw around $6 billion of withdrawals in the 72 hours before Tuesday morning, according to a message …
Sam Reynolds / CoinDesk:
FTX's FTT token drops below $5, down ~80% in the past 24 hours, as crypto investors fear possible contagion from the collapse of FTX-linked Alameda Research  —  The FTT price has declined nearly 14% over the past 24 hours, with Solana's SOL and Serum's SRM taking losses along with bigger cryptocurrencies like bitcoin and ether.
Casey Newton / Platformer:
Sources: Elon Musk pitched charging most or all Twitter users for a subscription; internal estimates show Blue could lose the company ~$6/user/month in the US  —  Will he go through with it?  PLUS: Botched layoffs, how the new Blue could lose money, and more
Stephanie Bodoni / Bloomberg:
The European Commission opens an in-depth investigation into Microsoft's proposed $69B Activision Blizzard acquisition and sets a March 23 decision deadline  —  Microsoft Corp.'s proposed $69 billion takeover of games developer Activision Blizzard Inc. faces an in-depth European Union probe …
Financial Times:
Analysis: Apple's corporate diplomacy in Beijing helped it evade crackdowns and kept its profits above China's tech giants but exposes it to supply chain shocks  —  The most profitable tech company operating in China is not a homegrown internet giant such as Alibaba or Tencent, but California-based Apple.
Takashi Mochizuki / Bloomberg:
Nintendo reports Q2 operating profit of ~$809M, up from ~$685M YoY, thanks to a weakened yen, and cuts its fiscal year Switch sales forecast by 10% to 19M  —  Nintendo Co. cut its fiscal-year forecast for Switch console sales by 10% to 19 million after reporting earnings in line with expectations.
Jane Lanhee Lee / Reuters:
Nvidia offers Chinese customers the A800 GPU, which the company says meets US export control rules, as an alternative to the A100 that the US banned for export  —  U.S. chip maker Nvidia Corp (NVDA.O) said on Monday it is offering a new advanced chip in China that meets recent export control rules aimed …
Connie Loizos / TechCrunch:
Q&A with outgoing Y Combinator President Geoff Ralston on his decision to leave the accelerator, its investing capital sources, the market slowdown, and more  —  Last week at Web Summit, we were asked to interview outgoing Y Combinator President Geoff Ralston about the past, present, and future of the popular accelerator program.

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Jonathan Vanian / CNBC:
Oliver Knight / CoinDesk:
Richard Lawler / The Verge: