Techmeme
November 9, 2022, 7:25 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, Bloomberg, CoinDesk, Reuters, PYMNTS.com, TechCrunch, The Block, Bloomberg, Australian Financial Review, The Block, BBC, CoinDesk, Blockworks, TheStreet, Crunchbase News, Newcomer, VICE, The i Paper, Engadget, Protocol, VentureBeat, Protocol, Trustnodes, Reuters, SiliconANGLE, Reuters, Los Angeles Times, Bloomberg, The Verge, San Francisco Business Journal, Decrypt, TechCrunch, The Block, Finextra, Fortune, CNBC, Gizmodo, Cryptonews, Bloomberg, The Sandbox Daily, crypto.news, Reuters, Reuters, Crowdfund Insider, CryptoSlate, Watcher Guru, Forbes, The Daily Hodl, Bitcoin Magazine, Bitwise Investments, NewsBTC, CoinDesk, Bitcoin News, Cointelegraph, Crypto Briefing, CryptoPotato, and Cointelegraph
Tanaya Macheel / CNBC:
Major coins are plummeting: bitcoin drops 14%+ to below $16,000, a new low since November 2020, ether drops 17%+ to ~$1,100, and Solana crashes 40%+ to ~$13  —  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 the CFTC are investigating whether FTX.com mishandled customer funds and FTX's 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:
Tom Maloney / Bloomberg:
Sam Bankman-Fried's estimated $15.6B fortune may have been annihilated to ~$1B by the demise of FTX and Alameda, the largest one-day drop for a billionaire yet  —  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:
After FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit, and Bybit pledge to publish their Merkle tree reserve certificates  —  Nine prominent exchanges said they will publish proof-of-their-reserve holdings in the next month.
Kyle Wiggers / TechCrunch:
Sara Fischer / @sarafischer:
Meta:
Mark Zuckerberg says Meta plans to lay off ~13% of its staff, or 11,000+ employees, and cut discretionary spending and extend its hiring freeze through Q1 2023  —  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 …

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