November 10, 2022, 10:55 PM

Top News

Sam Bankman-Fried / @sbf_ftx:
Wall Street Journal:
Source: SBF told investors that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as a poor judgment call  —  FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
Nikhilesh De / CoinDesk:
Tracy Wang / CoinDesk:
Current and former FTX and Alameda staffers say the Bahamian operation SBF ran with housemates is full of conflicts of interest, nepotism, and lack of oversight  —  “The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.
Sources detail FTX's rise and fall: Changpeng Zhao's ~$100M investment in 2019, the souring Binance relationship, Alameda's series of losses in 2022, and more  —  On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
Kate Clark / The Information:
Sources: SBF invested $500M+ in Paradigm, Altimeter, Multicoin, and other VCs, including committing $200M to Sequoia; Pitchbook shows he committed $300M to K5  —  FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …
Dan Primack / Axios:
Alex Heath / The Verge:
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; legal now asks engineers to “self-certify” compliance with FTC rules  —  Twitter's privacy and security teams are in turmoil after Elon Musk's changes to the service bypassed its standard data governance processes.
Washington Post:
Twitter employees are concerned by the rapid rollout of features without the security reviews required by the FTC's consent decree reached with Twitter in May  —  Yoel Roth had become the public face of Twitter's efforts to reassure users and advertisers the service would not become a ‘free-for-all’
Twitter's head of Trust & Safety Yoel Roth resigned on November 10; sources: head of ad sales Robin Wheeler also resigned, but Elon Musk convinced her to stay  —  Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion …
Erin Woo / The Information:
Sources: at an all-hands, Elon Musk told staff that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”  —  Elon Musk told Twitter employees on Thursday the company may have a “net negative cash flow of several billion dollars” …
Kurt Wagner / Bloomberg:
Sara Fischer / @sarafischer:
Kyle Wiggers / TechCrunch:
Taylor Hatmaker / TechCrunch:

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