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November 11, 2022, 6:45 AM
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memeorandum
WeSmirchTop News
| Sam Bankman-Fried / @sbf_ftx: |
[Thread] FTX CEO Sam Bankman-Fried apologizes, says he “fucked up” and his priority is “doing right by users”, plans to raise funds and close Alameda, and more — 1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
More:
The Block, The Block, The Information, CoinDesk, Axios, Poker.org, CNBC, On my Om, Wall Street Journal, VICE, PC Gamer, Inside Bitcoins, and Financial Times
Tweets: @brian_armstrong, @handlerrich, @jespow, @sbf_ftx, @sbf_ftx, @autismcapital, @sbf_ftx, @cz_binance, @tackettzane, @sbf_ftx, @genesistrading, @sbf_ftx, @stoolpresidente, @grdecter, @binance, @sbf_ftx, @bondhack, @ercwl, @levie, @p3b7_, @tetranode, @tetranode, @teo_leibowitz, @dogetoshi, @sbf_ftx, @dsquareddigest, @doombergt, @wublockchain, @tackettzane, @jgarzik, @marionawfal, @loganbartlett, @hasufl, @danprimack, @inversebrah, @cobie, @nerdnationunbox, @tree_of_alpha, @twobitidiot, @wassielawyer, @fintechfrank, @foldablehuman, @felixsalmon, @autismcapital, @noahpinion, @ianthetechie, @cobie, @hsakatrades, @tackettzane, @ryansadams, @sbf_ftx, @twobitidiot, @zachxbt, and @cryptohayes
| Nikhilesh De / CoinDesk: |
FTX US tells users to close out positions as it may halt trading in days, hours after SBF said FTX US is “100% liquid”; some Tron-linked tokens can be withdrawn — Sam Bankman-Fried said the FTX US entity's users would be able to withdraw all their funds.
More:
Bloomberg, CoinDesk, Wall Street Journal, Bloomberg, Cointelegraph, Axios, and New York Times
Tweets: @justinsuntron, @genesistrading, @ftx_official, @ftx_official, @tackettzane, @justinsuntron, @ftx_official, @sbf_ftx, @ftx_official, @ftx_official, @crypto_noddy, @lawmaster, @ftx_official, @austerity_sucks, @dogetoshi, @inversebrah, @mdudas, @mrjasonchoi, @zoomerjd, @elitwilliams, @crypto_notte, @jasonyanowitz, @asvanevik, @macrocephalopod, @lawmaster, @tree_of_alpha, @lmatsakis, @statelayer, @defiyst, @cobie, @tier10k, @dogetoshi, @hosseeb, @statelayer, @cobie, @future_fund_, @cobie, @rookiexbt, @scupytrooples, @macnbtc, @ledgerstatus, @tayvano_, @ppmctweets, @stablecoinshill, @altcryptogems, @tree_of_alpha, @mgnr_io, @lilmoonlambo, @peckshieldalert, @dogetoshi, @stackersatoshi, @0xfoobar, @arthur_0x, @tree_of_alpha, @loopifyyy, @skyquake_1, @mrjasonchoi, @loopifyyy, @0xfoobar, @0xfoobar, @loopifyyy, @statelayer, @rnr_0, @cobie, @hsakatrades, @1insomnia234, @ftx_official, @ninjascalp, @rnr_0, @cobie, @cobie, @hodlonaut, @dylanleclair_, @lookonchain, @aradg11, @osf_nft, @0xdegeneracy, @barneytheboi, @rektfencer, @ki_young_ju, @carrascosacris_, @jchervinsky, @crypt0cloud, @cryptomanran, @statelayer, @sassal0x, and @davidiach
| Financial Times: |
A look at Sam Bankman-Fried's rise and fall in DC: becoming the face of crypto regulation, proposing bills, and testifying to Congress before FTX collapsed — Sam Bankman-Fried sought digital asset legislation and donated heavily to Democrats — In less than four years …
More:
The Block and CoinDesk
Tweets: @halocrypto, @reptomemmer, @lex_node, @mayazi, @mayazi, @mayazi, @alpha_pls, @mikeippolito_, @blockworks_, @shaig, @nictrades, @colinwilhelm, @doombergt, @brucefenton, @artofbagholding, and @nic__carter
| Tracy Wang / CoinDesk: |
Current and former FTX and Alameda staff describe rampant conflicts of interest, nepotism, and a lack of oversight while SBF ran the companies with housemates — “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.
More:
The Block, forum.effectivealtruism.org, Fortune, Wall Street Journal, and Inside Bitcoins
Tweets: @howiebtc, @teddyschleifer, @0xstaxro, @edzitron, @webdevmason, @webdevmason, @cryptocred, @wublockchain, @grindingpoet, @alphaketchum, @odddiligence, @inversebrah, @wassielawyer, @adamscochran, @iamdcinvestor, @gurgavin, @jagoecapital, @anothercohen, @rnr_0, @teddyschleifer, @backpackerfi, @concodanomics, @apedurden, @coindesk, @functi0nzer0, @scremped, @edzitron, @wassielawyer, @timevalueofbtc, @maybeelse, @vogon, @davidbelle_, @ccm_brett, @corybates1895, @autismcapital, @marchochstein, @graceonfootball, @autismcapital, and @219_eth
| Nikhilesh De / CoinDesk: |
BlockFi pauses withdrawals and asks users not to deposit to its wallet or interest accounts, saying it can't operate normally amid “lack of clarity” around FTX — BlockFi had made a deal with FTX earlier this year. — Crypto Lender BlockFi said it could not conduct business …
More:
Bloomberg and Fortune
Tweets: @blockfi, @founderflori, @autismcapital, @pentosh1, @thedata_nerd, @nycsouthpaw, @nycsouthpaw, @inmortalcrypto, @jeffjohnroberts, @balajis, @balajis, @cole0x, @autismcapital, @coffeebreak_yt, @hodlkryptonite, @route2fi, @altcoingordon, @mariuscrypt0, @concodanomics, @clarkmoody, @peterschiff, @zerohedge, @justinbennettfx, @zachxbt, @epsilontheory, @hsakatrades, and @adamscochran
| 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
More:
Wall Street Journal, Reuters, Reuters, Fortune, Financial Times, CNBC, and Bloomberg
| Lydia Beyoud / Bloomberg: |
More:
CoinDesk, The Guardian, The Block, tribune242.com, Financial Times, Australian Financial Review, Reuters, and The Information
Tweets: @guardiannassau, @kateclarktweets, @kadhim, @whale_alert, @wsbchairman, @lowstrife, and @cryptomanran
| 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.
More:
Platformer, The Register, Politico, Reuters, and NBC News
| Bloomberg: |
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 …
More:
CNN, Lily's News View, TechCrunch, and The Verge
Tweets: @caseynewton, @kurtwagner8, @sarahfrier, @sarafischer, @jessicalessin, and @kurtwagner8
| 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’| Elizabeth Lopatto / The Verge: |
Twitter reactivates its gray “Official” badge for select high-profile accounts, after a wave of impersonators bought blue checks — Okay, so Twitter broke its own verification system by making the blue check — previously a signal that the account had provided information …
More:
Gizmodo, TechCrunch, Bloomberg, Associated Press, Techdirt, and Bloomberg
Tweets: @elonmusk, @jasonschreier, @donie, @mmasnick, @twittersupport, @kariiakeaz, @ycpaulg, @spacexofficiall, @wongmjane, @nestledeathcult, @egoraptor, @bendreyfuss, @morrison, @carnage4life, @theondrakguy, @amorgus_, @elonmusk, @libyaliberty, @samoyedwave, @realsaavedra, @libyaliberty, and @mattnavarra
| Taylor Hatmaker / TechCrunch: |
More:
The Verge, Ars Technica, Wired, The Daily Dot, Bloomberg, Gizmodo, and The National
Tweets: @elonmusk, @petefrasermusic, @drewharwell, @misterratt, @mcuban, @esthercrawford, @jsrailton, @andr6wmale, @vxunderground, @enichan, @patblanchfield, @tomwarren, @asawinstanley, @twitchparody, @dangeredwolf, @alexvtunzelmann, @joonlee, @mattbinder, @chadloder, @davidmackau, @tmz, and @b_fung
| 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” …
More:
The Verge. Tweets: @mikeisaac, @parismartineau, @zoeschiffer, @sacca, @dril, @mikeisaac, @hayesbrown, @aljwhite, @oneunderscore__, @missamytobey, @asherlangton, and @zoeschiffer
| The Verge: |
Elon Musk says Twitter will not survive “without significant subscription revenue” and that the company needs roughly half of revenue to come from subscriptions — Elon Musk has sent his first email to Twitter employees, warning them to prepare for a “dire” economy and putting an immediate end to remote work.
More:
New York Times, CNBC, and ZDNet
Tweets: @zoeschiffer, @gergelyorosz, @kantrowitz, and @louiseridley
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