Techmeme
November 8, 2022, 11:10 AM

Top News

Sam Reynolds / CoinDesk:
FTX's FTT drops 30%+ to around $15 as investors fear possible contagion from the collapse of FTX-linked Alameda; Nansen shows FTX outflows reached $450M+  —  FTT has declined nearly 20% over the course of an hour, with Solana's SOL down 17% and Serum's SRM off 10%.
Yogita Khatri / The Block:
On-chain data from Ethereum, Tron, and Solana: FTX appears to have stopped processing withdrawal requests, starting at 6:37am ET for ether  —  - Crypto exchange FTX seems to have stopped processing withdrawal requests, according to on-chain data.  — The last outgoing transaction …
Andrew Rummer / The Block:
FTX CEO Sam Bankman-Fried says “FTX is fine” as Binance begins selling FTX's FTT token; an Alameda balance sheet leaked on November 2 showed $8B in liabilities  —  - FTX CEO Sam Bankman-Fried insisted his crypto exchange is “fine” after rival Binance announced it would start selling its holdings of FTX's FTT token.
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:
Source: Twitter tells advertisers the service added 15M+ mDAUs since the end of Q2, “crossing the quarter billion mark”; Musk also tweeted user numbers are up  —  Twitter's daily user growth hit “all-time highs” during the first full week of Elon Musk owning the platform …
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.
Ryan Mac / New York Times:
As Twitter's problems mount, Elon Musk is on pace to tweet over 750 times in November, or more than 25 times a day, up from around 13 per day in April  —  The new owner of Twitter has embarked on a tweeting spree to push back, spar and justify his actions.  —  Ryan Mac, who is based in Los Angeles …
Takashi Mochizuki / Bloomberg:
Nintendo reports Q2 operating profit of ~$809M, up from ~$685M YoY, and cuts its fiscal year Switch sales forecast by 10% to 19M; a weakened yen boosts results  —  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 …
Andrew J. Hawkins / The Verge:
Google and Renault expand their four-year partnership to develop a “software-defined vehicle” based on Google's Android Automotive OS  —  This “software-defined vehicle” will be built on Google's Android Automotive operating system and send data to the company's cloud servers for processing, the companies announced.
Financial Times:
Sources: responding to a slowing economy and weakening ad market, ByteDance overhauls TikTok's US operations, including demoting general manager Sandie Hawkins  —  Chinese-owned social platform makes sweeping leadership changes in its largest market  —  TikTok's US operations are undergoing …

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Earlier Picks

Aisha Malik / TechCrunch:
Andrew Hayward / Decrypt:
Oliver Knight / CoinDesk:
Richard Lawler / The Verge: