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November 8, 2022, 11:15 PM
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memeorandum
WeSmirchTop 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 FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
More:
CoinDesk, Semafor, New York Times, coinbase.com, Financial Times, Bloomberg, Bloomberg, The Block, The Economic Times, The Block, Wall Street Journal, Ed Zitron's Where's Your Ed At, Decrypt, CNBC, Forbes, Cointelegraph, TheStreet, Pandaily, Tech in Asia, Blockworks, Bitcoin News, Australian Financial Review, Watcher Guru, TechCrunch, SlashGear, Forkast, Reuters, The Good Contributor, BullRun Forever, Fortune, BetaKit, ZyCrypto, Neowin, The Information, CryptoSlate, Washington Post, Mashable, CoinGape, Finbold, NewsBTC, and Coinpedia Fintech News
Tweets: @sbf_ftx, @cz_binance, @shaanvp, @cz_binance, @sbf_ftx, @ericnewcomer, @sbf_ftx, @thestalwart, @sbf_ftx, @wassielawyer, @fintwit_news, @danprimack, @lizrhoffman, @arthur_0x, @sbf_ftx, @robinwigg, @ftx_official, @chrisfralic, @hsakatrades, @danprimack, @sbf_ftx, @lizrhoffman, @tuurdemeester, @robinwigg, @carnage4life, @hodlkryptonite, @cryptohayes, @lizrhoffman, @algodtrading, @spreekaway, @marketsmeowmeow, @hodlkryptonite, @cobie, @cobie, @tier10k, @autismcapital, @evan_lorenz, @stackhodler, @elliotrades, @asvanevik, @cryptoharry_, @bondhack, @coffeebreak_yt, @odell, @lex_node, @stoolpresidente, @matthewstoller, @bongcapital, @biancoresearch, @arpitrage, @matthewstoller, @peter_tl, @fintechfrank, @byzgeneral, @paul_griffiths, @shaanvp, @buccocapital, @cobie, @tomgara, @tracyalloway, @iamdcinvestor, @cryptodonalt, @tensaicapital, @cz_binance, @nope_its_lily, @219_eth, @jaypinho, @thinkingusd, @alistairmilne, @tylercowen, @claritytoast, @johnedeaton1, @lessin, @crypto_bitlord7, @nkulw, and @mayazi
| 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 …
More:
CoinDesk, The Block, Malt Liquidity, CNBC, Watcher Guru, TechCrunch, Newcomer, and The Block
Tweets: @cz_binance, @sbf_ftx, @crosbyventures, @thecryptodaddi, @emilyjnicolle, @ahcastor, @tomdwan, @dogetoshi, and @carnage4life
| 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| 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.
More:
BitDAO, NBC News, Decrypt, Watcher Guru, Politico, Inside Bitcoins, Finbold, and CryptoSlate
Tweets: @cz_binance, @benbybit, @starokg, @carolinecapital, @cryptomanran, @vetlelunde, @alex_valaitis, @sbf_ftx, @lookonchain, @milesdeutscher, @claritytoast, @wublockchain, @cz_binance, @asvanevik, @sheldon_sniper, @wublockchain, @dogetoshi, @garyblack00, @emperorbtc, @inmortalcrypto, @algodtrading, @bull_bnb, @cryptodonalt, @0xboccaccio, @cumberlandsays, @mayazi, @cobie, @teddycleps, and @alex
| Tanaya Macheel / CNBC: |
Coin Metrics: on November 8, 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 — FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World| Matt Levine / Bloomberg: |
Questions about FTX's “liquidity crunch” and Binance's offer to buy the smaller exchange, likely for a fraction of its valuation of tens of billions of dollars — CZ vs. SBF — I kind of can't believe this worked? Here are Bloomberg's Philip Lagerkranser and Joanna Ossinger this morning:
More:
TechCrunch, Insider, and AMC Theatres
| 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.
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Associated Press, Reuters, Mercury News, Livemint, CNN, The Guardian, XDA Developers, Engadget, New York Post, CNET, BGR India, Pixel Envy, Mashable, Android Central, 9to5Mac, Digital Trends, iPhone in Canada Blog, CNBC, and Comic Book
| 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
More:
Compact Magazine, Techdirt, Insider, Mashable, CNBC, and Social Media Today
Tweets: @caseynewton, @maxwelltani, @caseynewton, @zoeschiffer, @nickstatt, @jason, @davidsacks, @fuxurecalls, @shaun_vids, @blainecapatch, @ow, @theinnersunset, @davidsacks, @clarajeffery, @jordanuhl, @joshtpm, @kevinriggle, @g_shullenberger, @theashrb, @ashleylatke, @alexandraerin, @nberlat, @guslivesagain, and @jrhennessy
| 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.
More:
Silicon Valley Business …, Insider, Platformer, PYMNTS.com, Fortune, The Guardian, CNN, Protocol, 9to5Mac, Reuters, Neowin, and Livemint
| Thomas Germain / Gizmodo: |
Research suggests Apple collects data about iPhone usage even when the iPhone Analytics setting to “disable the sharing of Device Analytics altogether” is off — For all of Apple's talk about how private your iPhone is, the company vacuums up a lot of data about you. iPhones …
More:
Mysk on YouTube and The Mac Observer
| 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 …
More:
European Commission, The Verge, Reuters, Washington Post, The Jacob Wolf Report, Wall Street Journal, TechCrunch, OnMSFT.com, Engadget, BigTechWire, FOSS Patents, Game Rant, and SlashGear. Tweets: @tomwarren
| 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 …
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The Walt Disney Company, PYMNTS.com, CBS News, Thurrott, Los Angeles Times, The Hollywood Reporter, Reuters, The Verge, The Information, Agence France-Presse, Adweek, CNN, Benzinga, New York Times, BBC, Axios, The Wrap, Yahoo Finance, Wall Street Journal, Wall Street Journal, Associated Press, MarketWatch, Light Reading, Deadline, Financial Times, IndieWire, The Streamable, Bloomberg, and CNBC
| 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 … | Lawrence Abrams / BleepingComputer: |
Microsoft releases 68 security fixes, including patches for six actively exploited Windows zero-day flaws and 11 vulnerabilities classified as Critical — Today is Microsoft's November 2022 Patch Tuesday, and with it comes fixes for six actively exploited Windows vulnerabilities and a total of 68 flaws.| Jon Keegan / The Markup: |
A look at data brokers selling “comprehensive” profiles of potential voters to campaigns, including phone geolocation data gleaned from real-time auctions — Before you got in line on Election Day, the emerging and largely unregulated political tracking industry was able to trace your movements| 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 Patently Apple
| Kollen Post / The Block: |
The US Treasury's Office of Foreign Asset Control adds a designation to Tornado Cash that ties the crypto mixer to North Korea's nuclear weapons program — - The Treasury has re-designated Tornado Cash, tying the decentralized crypto mixer to North Korea's nuclear weapons program.| Ingrid Lunden / TechCrunch: |
NYC-based Laika, which offers companies an automated security compliance service, raised a $50M Series C led by Fin Capital, bringing its total funding to $98M — Compliance with privacy and security frameworks like SOC 2, HIPAA and GDPR has become a central component not just of how … | Divya Balji / Bloomberg: |
Coinbase's stock closes down 10.78% and Robinhood Markets closes down 19.04% as the Binance-FTX deal spotlights the challenges facing the $1T crypto industry — Robinhood Markets Inc. tumbled by the most in more than a year after Binance Holdings Ltd. agreed to acquire Sam Bankman-Fried's …
More:
Reuters, Decrypt, and The Block
Tweets: @brian_armstrong, @brian_armstrong, @brian_armstrong, and @brian_armstrong
| 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.
More:
CoinDesk, The Information, Reuters, Reclaim The Net, and FX Empire
Tweets: @attorneyjeremy1, @lex_node, @johnedeaton1, @lbrycom, @lbrycom, @jeremykauffman, @drnicka, and @lex_node
| Bloomberg: |
Sources: UMG, Sony, and Warner have been negotiating with ByteDance for a share of TikTok ad revenue and increased royalties before their contracts expire — TikTok has attracted more than 1 billion users with videos set to music. Now the world's largest record labels want the social media app to pay more for those songs.| 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. shares fell as much as 6% on Wednesday after the company cut its fiscal-year forecast for Switch console sales by 10% to 19 million.
More:
Nintendo Investor Relations, GoNintendo, The Verge, Reuters, and Luke Miani on YouTube
Tweets: @6d6f636869, @6d6f636869, @6d6f636869, and @andresegers
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