Techmeme
November 8, 2022, 3:10 PM

Top News

@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, CoinDesk, The Block, Ed Zitron's Where's Your Ed At, CoinDesk, Semafor, Bloomberg, Decrypt, BetaKit, CoinDesk, Reuters, Forbes, VentureBeat, PYMNTS.com, Engadget, The Guardian, SiliconANGLE, The Verge, Financial Times, Blockworks, Wall Street Journal, Tech Monitor, Finbold, Finextra, Protocol, The Economic Times, TechCrunch, Wall Street Journal, Dexerto, Fortune, Cointelegraph, NewsBTC, Ethereum World News, TIME, WRAL TechWire, ZyCrypto, Forbes, CryptoSlate, Politico, The Daily Hodl, Crypto Daily, Coinpedia Fintech News, Protos, Crowdfund Insider, Bitcoinist.com, Bitcoin News, The Bitcoin Layer, CoinGape, Bitcoin Magazine, Crypto Briefing, Monkey Business, CryptoPotato, Fortune, Slashdot, Axios, Reuters, CNBC, and Trustnodes
Sam Reynolds / CoinDesk:
FTX's FTT token drops below $7, down ~70% 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.
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 …
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
Jonathan Vanian / CNBC:
Alex Heath / The Verge:
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.

Sponsor Posts

Soxton:
Fast, affordable law for startups  —  Soxton automates startup legal so founders can move faster and sleep better.  We handle incorporation, advisor, employment and commercial contracts.  Join the waitlist for early access!
F5:
Accelerate AI Adoption at F5's AI Virtual Summit  —  Learn how to architect, secure, and scale AI for production with real-world insights from industry leaders on June 23.  Register now to save your spot.
Zoho:
Zoho Billing can now be managed with your AI assistant |  Zoho MCP  —  Finance teams have always known more than they could act on.  The data sits inside subscription records, aging invoices, renewal cycles, churn patterns, and coupon reports.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Lenny's Podcast:
The hidden pattern behind successful products | Mark Pincus (founder of Zynga)
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Big Technology Podcast:
SpaceX's IPO Triumph, Anthropic's Fable Fumble, OpenAI's Price War
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Access:
A top iPhone app developer reacts to Apple's new Siri
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
Hard Fork:
'Hard Fork' Live, Part 1: Satya Nadella and Cindy Cohn
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
Subscribe to Hard Fork.
The Upstarts Podcast:
TBC's Alex Ksendzovsky: The Neurosurgeon Using Brain Cells To Build Better AI
Veteran tech reporter Alex Konrad sits down with breakout entrepreneurs taking on the status quo to shake up their fields in AI, design, nuclear energy, space, and more.
Subscribe to The Upstarts Podcast.
Tools and Weapons with Brad Smith:
AI's Mythos Moment: Rishi Sunak on preparing governments for AI
Microsoft Vice Chair and President Brad Smith speaks with leaders in government, business, and culture to explore the most critical challenges at the intersection of technology and society.
Subscribe to Tools and Weapons with Brad Smith.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 3:10 PM ET, November 8, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks

Oliver Knight / CoinDesk:
Richard Lawler / The Verge: