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November 9, 2022, 4:50 PM
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WeSmirchTop News
| Wall Street Journal: |
Binance walks away from its offer to acquire FTX after reviewing FTX's structure and books, 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
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New York Times, Bloomberg, The Block, TechCrunch, CoinDesk, VentureBeat, Protocol, SiliconANGLE, TechCrunch, Bloomberg, The Verge, CoinDesk, Decrypt, The Block, Los Angeles Times, San Francisco Business Journal, Blockworks, PYMNTS.com, Trustnodes, Gizmodo, Finextra, Reuters, Reuters, Reuters, CoinDesk, Financial Times, Reuters, Cointelegraph, CNBC, Bitwise Investments, Crypto Briefing, CoinGape, CryptoSlate, ZeroHedge, The Block, Bloomberg, Sydney Morning Herald, and Watcher Guru
Tweets: @cz_binance, @binance, @lucasnuzzi, @halocrypto, @zebulgar, @tier10k, @binance, @genesistrading, @goodalexander, @thestalwart, @binance, @asvanevik, @cobie, @deitaone, @cobie, @ldrogen, @rajgokal, @joeconsorti, @mkultramoney, @obsoletedogma, @zerohedge, @crypto_chase, @adamscochran, @mayazi, @fintechfrank, @danprimack, @dantwany, @dystopiabreaker, @hhorsley, @fxmacro, @nic__carter, @tree_of_alpha, @gladstein, @cryptohayes, @cryptohayes, @olya_borderless, @adamscochran, @cryptoquant_com, @biancoresearch, @mikeburgersburg, @gainzy222, @vec0zy, @matthew_pines, @econoar, @tradermayne, @cameron, @unlockscalendar, @aridavidpaul, @cameron, @icebergy_, @ben_mckenzie, @thinkingusd, @odell, @bitcoinpanda69, @tier10k, @tier10k, @ki_young_ju, @cryptomanran, @dougpolkvids, @statelayer, @autismcapital, @coldbloodshill, @tree_of_alpha, @hsakatrades, @thinkingusd, @loomdart, @kadhim, @hsakatrades, @kadhim, @trader1sz, @shanicucic96, @thedefiedge, @autismcapital, @btcgandalf, @autismcapital, @iamdcinvestor, @txmctrades, @bitboy_crypto, @lilmoonlambo, @altcoinpsycho, @kieranmlkelly, @stackersatoshi, @firstadopter, @fintwit_news, @hunterwalk, @cmsintern, @autismcapital, @ashleydcan, @algodtrading, @odell, @adamscochran, @aeyakovenko, @punk6529, @ahcastor, @crypto_chase, @binance, @jimcramer, @anthony, @hsakatrades, @edzitron, @tier10k, @kateclarktweets, @functi0nzer0, @adamscochran, @jangold_, @tier10k, @felixsalmon, @bizcarson, @omarg, @adamscochran, @cobie, @scopeprotocol, @fintechfrank, @punk9059, @whet, and @edmundlee
| 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
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The Block, The Block, Protos, BBC, Bloomberg, CoinDesk, Bloomberg, The Block, CoinShares, Forbes, CryptoPotato, Cointelegraph, and GeekWire
Tweets: @cz_binance, @brian_armstrong, @jerallaire, @dylanleclair_, @noahpinion, @jerallaire, @asvanevik, @brantlymillegan, @aeyakovenko, @dsentralized, @salsatekila, @vivek4real_, @rager, @timdraper, @inmortalcrypto, @hodlonaut, @nebraskangooner, @basedkarbon, @solbigbrain, @3lau, @wublockchain, @bitcoinpanda69, @altcoinpsycho, and @cryptowendyo
| 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 …
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Reuters, Blockworks, New York Times, TechCrunch, The Information, CoinDesk, Decrypt, Bloomberg, CoinDesk, Forbes, Fortune, The Block, and NewsBTC
Tweets: @tier10k, @tier10k, @wublockchain, @mayazi, @brianquintenz, @travis_view, @tracyalloway, and @matthewstoller
| 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 …
More:
New York Times, Arthur Hayes, CoinDesk, PYMNTS.com, Reuters, Cointelegraph, CNBC, Forbes, and CryptoSlate
| 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 …
More:
Cointelegraph and PYMNTS.com
| 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.
More:
Wired, Financial Times, CoinDesk, TheStreet, Insider, and New York Post
Tweets: @cz_binance, @ericnewcomer, @wassielawyer, @evgenygaevoy, @lizrhoffman, and @0xngmi
| 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.
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New York Times, CNBC, The Guardian, Reuters, TechCrunch, BBC, SEC.gov, NBC News, CNBC, PYMNTS.com, USA Today, Metaverse Post, Adweek, Variety, The Verge, Insider, BetaKit, VICE, Moneycontrol, general zuo's chicken, Mercury News, Tubefilter, Insider, Game Rant, TheStreet, GeekWire, and Associated Press
| 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 …
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The Verge, Ars Technica, Washington Post, TechCrunch, MacRumors, Wall Street Journal, Forbes, PYMNTS.com, Adweek, Search Engine Land, MacRumors, Gizmodo, AppleInsider, Insider, Techdirt, Associated Press, RTÉ, HotHardware, The Hill, VICE, CNBC, SlashGear, Engadget, iMore, San Francisco Business Journal, WRAL TechWire, CNBC, and Appuals.com
| Becky Peterson / The Information: |
Report: Twitter filed to register with the US Treasury to process payments; source: Twitter is working on a product that accepts cryptocurrencies including DOGE — Twitter is taking steps to launch a payment processing product that could put it into competition with PayPal.
More:
New York Times, TechCrunch, San Francisco Business Journal, The Block, and Forbes
Tweets: @mshannahmurphy and @rmac18
| Sara Fischer / @sarafischer: |
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Engadget, Bloomberg, AppleInsider, The Information, TechCrunch, Reuters, and New York Post
Tweets: @justinhendrix, @nandoodles, @oneunderscore__, @cobie, @jmaguirecritic, @kerrymflynn, and @krisgoldsmith85
| Wall Street Journal: |
Sources: TSMC plans to announce a second chipmaking factory north of Phoenix, Arizona, in the coming months, investing roughly $12B and aiming to make 3nm chips — New facility would produce cutting edge 3-nanometer semiconductors — Taiwan Semiconductor Manufacturing Co. … | Tom Warren / The Verge: |
Microsoft begins to roll out iCloud Photos integration into Windows 11, in 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 the ability …
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Windows Blog, Engadget, Macworld, Softpedia News, Windows Central, XDA Developers, Thurrott, MacRumors, 9to5Mac, AppleInsider, Neowin, and Six Colors
| Jem Aswad / Variety: |
YouTube says Music and Premium together have 80M+ paying subscribers, up from 50M in September 2021, and payments to creators and others reached $50B since 2019 — It's a dramatic leap, especially for a platform where so much can be had for free, and would seem to place YouTube … | 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 is working on a Custom Accessibility Mode for iOS 16.2 beta 2, codenamed Clarity, helping make 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.
More:
MacRumors, Macworld, and iPhone Hacks
| Nate Bek / GeekWire: |
Seattle-based Redfin lays off 862 employees, or 13% of its workforce, and winds down its home-flipping program RedfinNow; stock is down 96%+ since February 2021 — Redfin will wind down its home-flipping program RedfinNow and lay off employees for the second time this year as it cuts expenses in response to a slowing housing market.
More:
Seattle Business Journal, PYMNTS.com, Bloomberg, and VICE
| 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 … | 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 …
More:
9to5Google, Engadget, Thurrott, PCMag, Android Authority, Neowin, 9to5Google, and Android Police
| Rebecca Elliott / Wall Street Journal: |
Filings: after buying Twitter for $44B, Elon Musk sold 19.5M Tesla shares, worth almost $4B, from November 4 to 8, leaving him with a roughly 14% stake — The sale of 19.5 million shares this month in the electric-vehicle maker follows sales in April and August
More:
Fortune, USA Today, Bloomberg, The Guardian, CNBC, Reuters, Forbes, and The Register
Tweets: @carlquintanilla, @carlquintanilla, and @internethippo
| James Vincent / The Verge: |
Q&A with the lawyers “challenging the legality of GitHub Copilot” via a proposed class action lawsuit, which could have a huge impact on generative AI models — Microsoft, its subsidiary GitHub, and its business partner OpenAI have been targeted in a proposed class action lawsuit alleging … | Financial Times: |
Sources: TikTok cut its 2022 revenue target from $12B-$14.5B to ~$10B in September, as some staff complain of overspending on salaries, social events, and more — Fast-growing social platform cuts ambitious goals by 20% as some staff complain of lavish spending| Ashley Capoot / CNBC: |
Roblox reports Q3 revenue up 2% YoY to $517.7M, bookings up 10% YoY to $701.7M, and DAUs up 24% YoY to 58.8M; stock drops 15%+ on a larger-than-expected loss — - Shares of Roblox fell more than 17% in premarket trading Wednesday after the company reported a third-quarter loss but beat analyst estimates for revenue.
More:
Roblox, GamesIndustry.biz, and Metaverse Post
| Dylan Martin / The Register: |
Intel announces the Xeon CPU Max Series and Data Center GPU Max Series, set to arrive in early 2023 and power the US Department of Energy's Aurora supercomputer — x86 giant goes all-in with high-bandwidth memory — Intel's latest plan to ward off rivals from high-performance computing workloads involves … | Ernesto Van der Sar / TorrentFreak: |
Italian court upholds a ban against Cloudflare resolving DNS queries for three torrent sites, after Cloudflare appealed that the ban would impact users globally — The Court of Rome has confirmed that Cloudflare must block three torrent sites through its public 1.1.1.1 DNS resolver.| Zoya Mateen / BBC: |
A profile of a16z's Sriram Krishnan, a former Twitter executive who left in 2021 and is helping Elon Musk run Twitter, reportedly as part of his “inner circle” — Twitter's new owner Elon Musk has whipped up a storm after he sacked thousands of employees last week.
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Fortune
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