Techmeme
November 8, 2022, 7:10 PM

Top News

Changpeng Zhao / @cz_binance:
Binance CEO Changpeng Zhao says the company signed a non-binding letter of intent to 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.
Tanaya Macheel / CNBC:
Coin Metrics: on Tuesday, bitcoin fell 12.6% to $18,203 and briefly hit $17,300.80, its lowest level since November 2020; ether dropped 18.2% to $1,311.50  —  Follow your favorite stocksCREATE FREE ACCOUNT  —  WATCH NOW  —  FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
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 of 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.
Daniel Kuhn / CoinDesk:
How Binance exacerbated a bank run on FTX before offering to acquire the company, and why the potential deal represents a meteoric fall for Sam Bankman-Fried  —  Binance, after exacerbating a bank run on rival crypto exchange FTX, offered to buy out the jewel in SBF's crown.  —  By Daniel KuhnLayer 2
Jay Peters / The Verge:
Twitter plans to label select accounts “Official” when the new Blue launches; not all previously verified accounts will get the label, which won't be for sale  —  Twitter is rolling out another type of check mark to help distinguish accounts that users actually need to know are real.
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 …
Wall Street Journal:
Sources: Mark Zuckerberg told Meta staff that layoffs begin on November 9, he is accountable for missteps, and his overoptimism about growth led to overstaffing  —  Meta Platforms Inc. will begin laying off employees on Wednesday morning, Chief Executive Mark Zuckerberg told hundreds of executives on Tuesday.
Mark Gurman / Bloomberg:
Sources: turnover has hindered Apple's search for a new head of product design, leaving few obvious candidates for a department still in Jony Ive's shadow  —  Turnover at Apple Inc. has hindered efforts to replace the head of product design, leaving a gaping hole at the helm of a prominent team that's …
More: MacRumors and 9to5Mac
Kollen Post / The Block:
The SEC wins its lawsuit arguing that decentralized publishing platform LBRY's token is subject to regulatory oversight, in a blow to crypto token issuance  —  - A New Hampshire district court has ruled against decentralized publishing platform LBRY in a legal battle with the SEC.
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.
Umar Shakir / The Verge:
Zoom releases Mail and Calendar clients in beta as part of its Zoom One interface, announces an AI-powered Zoom Virtual Agent chatbot coming in 2023, and more  —  Available as a beta release, the Outlook-like Mail and Calendar will slot neatly into the company's new unified Zoom …
Lauren Forristal / TechCrunch:
Disney hit 235.7M global streaming subscribers in its Q4, above Netflix's 223.1M in its Q3; Disney+ had 164.2M subscribers, Hulu had 47.2M, and ESPN+ had 24.3M  —  Disney reported results for the final quarter of its 2022 fiscal year today, revealing a total of 164.2 million Disney+ global subscribers …

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!
Equals:
Stop vibe coding analytics  —  Equals AI turns questions about your business into auditable spreadsheet models and dashboards.  Build once, iterate for years.
Zoho:
Zoho Mail MCP: Make your inbox work for you  —  Maya is the head of operations at a 500-person B2B software company.  She's sharp, she's busy, and she starts every morning the same way-with her coffee, laptop, inbox.Not to work.
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

Hard Fork:
'The Daily' and 'The Opinions': How A.I. Is Changing Loneliness and Taste
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:
Writer's May Habib: Building AI Tools For Corporate 'Normal People' The Labs Leave Behind
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.
The Nick, Dick and Paul Show:
A Nick, Dick, and Paul Buffet!
Nick Bilton, Dick Costolo, and Paul Kedrosky pull back the curtain on AI, startups, and the future rushing toward us, all with healthy dose of irreverence.
Subscribe to The Nick, Dick and Paul Show.
Big Technology Podcast:
Anthropic's Labs Lead On Fable's Capabilities + Building AI-Native Products — With Mike Krieger
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.
Great Chat:
How much data do we actually want about our bodies?
A podcast mostly about tech. Brought to you weekly by Angela Du, Sally Shin, Mac Bohannon, Helen Min, and Ashley Mayer.
Subscribe to Great Chat.
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 7:10 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

Divya Balji / Bloomberg:

Earlier Picks

Richard Lawler / The Verge: