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November 9, 2022, 6:45 PM

Top News

Wall Street Journal:
Binance abandons its rescue acquisition offer for FTX after reviewing FTX's finances, saying “the issues are beyond our control or ability to help”  —  Crypto exchange's decision comes as it conducts due diligence on FTX  —  Sam Bankman-Fried in Talks to Raise More Funding
More: New York Times, The Block, CoinDesk, CoinDesk, Bloomberg, Reuters, The Block, Bloomberg, CoinDesk, Decrypt, Blockworks, TheStreet, Newcomer, Crunchbase News, VICE, Engadget, Protocol, VentureBeat, Protocol, SiliconANGLE, TechCrunch, Reuters, Bloomberg, Reuters, The Verge, Decrypt, The Block, Trustnodes, Los Angeles Times, PYMNTS.com, San Francisco Business Journal, Gizmodo, CNBC, Finextra, Fortune, Reuters, Reuters, CoinDesk, The Sandbox Daily, crypto.news, Bloomberg, Forbes, Bitwise Investments, Crowdfund Insider, CryptoSlate, The Daily Hodl, Bitcoin Magazine, NewsBTC, Watcher Guru, Bitcoin News, Watcher Guru, PYMNTS.com, Crypto Briefing, Cointelegraph, and CoinGape
Tanaya Macheel / CNBC:
Major coins are plummeting: Solana crashes 45%+ to ~$12, bitcoin drops 10%+ to below $16,000, its lowest since November 2020, and ether drops 12%+ to ~$1,150  —  FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
Bloomberg:
Sources: the SEC and CFTC are investigating FTX.com over handling customer funds and its relationship with other parts of Sam Bankman-Fried's empire  —  US financial regulators are investigating whether beleaguered crypto-exchange FTX.com properly handled customer funds …
Joshua Oliver / Financial Times:
Memo: Binance CEO Changpeng Zhao says FTX's near collapse “severely” shook confidence in the crypto industry, offers some deal details, and halts FTT sales  —  Changpeng Zhao tells employees that the bailout of its chief rival is ‘not a win’  —  The near collapse of FTX has …
Tom Maloney / Bloomberg:
Sam Bankman-Fried's estimated $15.6B fortune has been eviscerated in days by the demise of FTX and Alameda, dropping to ~$1B, the largest one-day collapse ever  —  Just weeks ago, Sam Bankman-Fried was considered crypto's version of John Pierpont Morgan, willing to throw around his massive fortune to save the industry.
Shaurya Malwa / CoinDesk:
In the wake of FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, and OKX pledge to release their Merkle tree reserve certificates  —  Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month.  —  Crypto exchanges are now scrambling …
Kyle Wiggers / TechCrunch:
After rolling out Twitter's “Official” label to select high-profile accounts, Elon Musk says he “killed it” in a reply to YouTuber MKBHD  —  Update: Well, that was fast.  The grey checks have begun to disappear following a tweet from Twitter CEO Elon Musk implying …
Sara Fischer / @sarafischer:
Meta:
Mark Zuckerberg says Meta plans to lay off 13% of its staff, or 11,000+ employees, and will cut discretionary spending and extend its hiring freeze through Q1  —  Mark Zuckerberg just shared the following with Meta employees:  —  Today I'm sharing some of the most difficult changes we've made in Meta's history.
Tom Warren / The Verge:
Microsoft begins to roll out iCloud Photos integration in Windows 11 through an update to the built-in Windows Photos app  —  Microsoft is starting to roll out iCloud Photos integration into Windows 11.  A new update to the Photos app in Windows 11 is now available, which will include …
Frederic Lardinois / TechCrunch:
IBM unveils its Osprey quantum processor with 433 qubits, up from 127 in its 2021 Eagle processor, and plans to hit 4,000+ with its Kookaburra processor in 2025  —  IBM wants to scale up its quantum computers to over 4,000 qubits by 2025 — but we're not quite there yet.
Filipe Espósito / 9to5Mac:
Apple's iOS 16.2 beta 2 reveals work on a Custom Accessibility Mode, codenamed Clarity, aimed at making the iPhone's and the iPad's UI more user-friendly  —  Apple on Tuesday released iOS 16.2 beta 2 to developers as the company gets ready to make the update available to the public in December.
Tom Warren / The Verge:
Google rolls out its VPN service to Windows and macOS in 22 countries; the desktop apps are available to Google One Premium subscribers with 2TB+ storage  —  Google is bringing its VPN access to desktop today.  Google One subscribers on Premium plans (2TB or higher) can now download VPN apps …
Nilay Patel / The Verge:
An interview with CEO Dylan Field on scaling Figma, selling the company to Adobe, retaining autonomy, WebGL, making VR Figma for the metaverse, AGI, and more  —  We also talk about AI and VR — but we know why you're here. … Dylan Field is the co-founder and CEO of Figma …

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