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November 9, 2022, 11:23 AM
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memeorandum
WeSmirchTop News
| Ian Allison / CoinDesk: |
Source: after looking at FTX's data and loan commitments, Binance is highly likely to scrap its acquisition; FTX was turned down by Coinbase, OKX, and others — Backing out would be one more stunning development in the collapse of Sam Bankman-Fried's crypto empire.
More:
Bloomberg, The Information, The Block, The Block, The Block, PingWest, Finbold, CNBC, Axios, and Watcher Guru
Tweets: @cz_binance, @deitaone, @asvanevik, @tier10k, @loopifyyy, @ldrogen, @scott_lew_is, @macnbtc, @0xsisyphus, @quintenfrancois, @ashcryptoreal, @fintwit_news, @scruffur, @cryptowendyo, @ellars, @jamespmcleod, @eringriffith, @brantlymillegan, @ryansadams, @pythianism, @simondixontwitt, @algodtrading, @wallstcynic, @mayazi, @smtuffy, @mayazi, @tracyalloway, @mrjasonchoi, @punk6529, @obsoletedogma, @jack_raines, @tradermayne, @byzgeneral, @valueandtime, @trackinflation, @deitaone, @asemota, @dee_bosa, @scottmelker, @darth, @asemota, @shaanvp, @autismcapital, @cobie, @mdudas, @davidmarcus, @adamscochran, @autismcapital, @therealjoshye, @hsakatrades, @jessicalessin, @mikeburgersburg, @claritytoast, @kantrowitz, @traderskew, @degenspartan, @adamscochran, @hsakatrades, @cobie, and @edzitron
| Tanaya Macheel / CNBC: |
Major coins are plummeting: Solana crashes 40%+ to under $17, bitcoin drops 10%+ to ~$17,100, its lowest since November 2020, and ether drops 20%+ to ~$1,150 — FTX token plunges as Binance steps in to buy the crypto exchange's non-U.S. unit: CNBC Crypto World
More:
Blockworks, The Block, The Block, Protocol, Bloomberg, CoinDesk, CNBC, The Defiant, CoinGape, Barron's Online, The Block, and Cointelegraph
| 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 … | Yueqi Yang / Bloomberg: |
Sources: the SEC and CFTC are investigating FTX.com over its handling of customer funds and its relationship with other parts of Sam Bankman-Fried's empire — Binance is unlikely to follow through on its takeover of FTX.com, according to a person familiar with the matter.
Tweets: @hsakatrades, @ellebeyoud, @wublockchain, and @fintechfrank
| 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:
Reuters, coinbase.com, The Block, The Block, New York Times, Semafor, Protocol, The Economic Times, BBC, Decrypt, Crunchbase News, Blockworks, Finbold, The Block, Crypto Daily, Reuters, Slate, Something Interesting, CoinDesk, Tech News, Protos, Ethereum World News, CryptoPotato, CoinGape, Fortune, and Forkast
Tweets: @sbf_ftx, @cz_binance, @cz_binance, @cryptomanran, @ericnewcomer, @zhusu, @benbybit, @wassielawyer, @sbf_ftx, @lizrhoffman, @cobie, @boazweinstein, @danprimack, @firstadopter, @dogetoshi, @tier10k, @cryptomanran, @arthur_0x, @sbf_ftx, @lizrhoffman, @scopeprotocol, @vetlelunde, @lookonchain, @hhorsley, @yassineark, @chrisfralic, @punk9059, @alex_valaitis, @robinwigg, @ftx_official, @hsakatrades, @danprimack, @0xngmi, @hodlkryptonite, @doug_hanks, @fxmacro, @dogetoshi, and @robinwigg
| 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:
Financial Times, Watcher Guru, Crowdfund Insider, Ethereum World News, and Cointelegraph
Tweets: @r0h1n and @evgenygaevoy
| 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 — Over seven crypto exchanges will publish proof of their reserve holdings in the next month. — Crypto exchanges are now scrambling …
More:
The Block, The Block, Protos, CryptoPotato, CoinGape, Bitcoin News, Ethereum World News, Cryptonews, and The Block
Tweets: @cz_binance, @cumberlandsays, @jerallaire, @deribitexchange, @antoninexo, @iconomicom, @bitmex, @aeyakovenko, @star_okx, and @jerallaire
| 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.
More:
BBC, TechCrunch, The Guardian, Reuters, CNN, CNBC, San Francisco Business Journal, TheStreet, New York Post, Forbes, GamesIndustry.biz, Decrypt, Insider, Road to VR, Thurrott, The Economic Times, UploadVR, Variety, PCMag, Gizmodo, Club386, The Register, VICE, TechCrunch, Sifted, Computerworld, The Verge, BuzzFeed News, Associated Press, AppleInsider, Livemint, Game Developer, ZDNet, Insider, The Hill, Australian Financial Review, CNBC, Moneycontrol, IGN, PC Gamer, Insider, Financial Times, The Block, OnMSFT.com, NPR, Android Headlines, International Business Times, Kotaku, USA Today, TheGamer, TechCircle, The Sun, Tech Monitor, Newser, BGR, The Guardian, Reuters, SlashGear, Engadget, and PetaPixel
Tweets: @kenyafitdee, @willoremus, @juokaz, @carnage4life, @sarthakgh, @alexleavitt, @benedictevans, @jeffhorwitz, @gergelyorosz, and @naominixwrites
| Jay Peters / The Verge: |
Twitter begins labeling select accounts “Official” as part of its Blue update; 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.
More:
The Verge, The Verge, Engadget, Washington Post, Thurrott, TechCrunch, Insider, MacRumors, PCMag, Appuals.com, CNBC, Silicon Republic, Techdirt, BGR, and 9to5Mac
Tweets: @esthercrawford, @esthercrawford, @esthercrawford, @maxwelltani, @levie, @ditzkoff, @malwaretechblog, @tapbot_paul, @wongmjane, @levie, @_llebrun, @timcast, @inabber69, @caseynewton, @carnage4life, @seyitaylor, @miarsato, @davechensky, @can, @carnage4life, @lorakolodny, @willoremus, @kantrowitz, and @nanjala1
| 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. …
More:
9to5Mac, AppleInsider, MacRumors, and MacDailyNews
Tweets: @iron_man_actual and @matthew_pines
| 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, AppleInsider, iMore, TechCrunch, and BGR
| 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 … | 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:
The Economic Times, Tom's Guide, and Philip Elmer‑DeWitt
| Frederic Lardinois / TechCrunch: |
IBM announces its Osprey quantum processor with 433 qubits, up from 127 qubits in the 2021 Eagle processor, and plans to hit 4,000 qubits by 2025 — IBM wants to scale up its quantum computers to over 4,000 qubits by 2025 — but we're not quite there yet. For now, we have to make do with …
More:
IBM Research Blog, Engadget, Silicon Republic, Wall Street Journal, Tech Monitor, Reuters, VentureBeat, Livemint, and HPCwire
Tweets: @ibmresearch and @kylebrussell
| 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 … | Dylan Martin / The Register: |
Intel announces a new Xeon CPU family and updated data center GPUs, both part of the Max Series lineup, set to arrive in early 2023 — x86 giant goes all-in with high-bandwidth memory — Intel's latest plan to ward off rivals from high-performance computing workloads involves a CPU …
More:
VideoCardz.com, Phoronix, ServeTheHome, Intel, Network World, Club386, VentureBeat, ZDNet, The Next Platform, Appuals.com, IT PRO, HPCwire, and TechPowerUp. Thanks:@dylanljmartin
| Rebecca Elliott / Wall Street Journal: |
Filings: after taking over Twitter, Elon Musk sold 19.5M Tesla shares, worth almost $4B, between November 4-8; Musk retains a roughly 14% stake in Tesla — The sale of 19.5 million shares this month in the electric-vehicle maker follows sales in April and August
More:
The Hill, RTÉ, Bloomberg, CNBC, The Guardian, Forbes, Reuters, and Axios
Tweets: @carlquintanilla and @carlquintanilla
| James Vincent / The Verge: |
Q&A with the lawyers “challenging the legality of GitHub Copilot” through a proposed class action suit, 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
More:
TheStreet, PYMNTS.com, Business Post, The Economic Times, and The Information
Tweets: @eric_seufert, @dondekojo, @chairliftcap, and @ramah_nyang
| 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
Subquadratic:
SubQ Snap 1.1: the first long-context decision model for real enterprise work — Tied for #1 on the AA Decision Index, Snap is a multimodal model with a 384k-token context window for fast reasoning and agentic decisions.
SubQ Snap 1.1: the first long-context decision model for real enterprise work — Tied for #1 on the AA Decision Index, Snap is a multimodal model with a 384k-token context window for fast reasoning and agentic decisions.
Zoho:
Labels that build themselves: Simplified Label Automation in Zoho Writer — Anyone who ships every day knows this feeling. Forty orders, each with a different number of items, and every item needs its own label.
Labels that build themselves: Simplified Label Automation in Zoho Writer — Anyone who ships every day knows this feeling. Forty orders, each with a different number of items, and every item needs its own label.
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.
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.
WebBrain:
WebBrain: an open-source AI agent for your browser — Read pages, fill forms and automate tasks in Chrome or Firefox. Use local models or your preferred AI provider. Get started free.
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Martin Casado on Frontier Model Economics, AI's Slowdown, and the Cursor Deal
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