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November 10, 2022, 3:20 PM
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| 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.
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Tweets: @brian_armstrong, @halocrypto, @tackettzane, @sbf_ftx, @genesistrading, @sbf_ftx, @binance, @zebulgar, @stoolpresidente, @sbf_ftx, @sbf_ftx, @tier10k, @cz_binance, @danielsloeb1, @sbf_ftx, @ercwl, @levie, @jerallaire, @doombergt, @grdecter, @teo_leibowitz, @ianthetechie, @dogetoshi, @wassielawyer, @caspiancey, @danprimack, @sbf_ftx, @levie, @paikcapital, @bongcapital, @vitalikbuterin, @fintechfrank, @interfluidity, @noahpinion, @mekhoko, @cobie, @hsakatrades, @fintechfrank, @jessicalessin, @p3b7_, @jessicalessin, @jeuasommenulle, @marionawfal, @ryansadams, @senatebanking, @cryptohayes, @cobie, @cobie, @mikeisaac, @rmfifthcircuit, @ashleevance, @sbf_ftx, @felixsalmon, @goodalexander, @levie, @twobitidiot, @levie, @henrytheeth, @bneiluj, @alex_kirshner, @d1nomite, @bobloukas, @sayssimonson, and @farokh
| Reuters: |
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.
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The Block, Wall Street Journal, CoinDesk, Decrypt, Bloomberg, PYMNTS.com, Bloomberg, AppleInsider, and CryptoPotato
Tweets: @cz_binance, @snarkyzk, @wublockchain, @silvermanjacob, @hashoshi4, and @lopezlinette
| 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
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Reuters, The Verge, Bloomberg, The Block, The Block, Decrypt, CoinDesk, PYMNTS.com, The Guardian, The Block, Financial Times, CryptoSlate, and Wccftech
Tweets: @deitaone, @skupor, @nanixbt, @punk6529, @lowstrife, @kr00ney, @kadhim, @kadhim, @iamdcinvestor, @deitaone, @hsakatrades, @hsakatrades, and @0xfoobar
| Nikhilesh De / CoinDesk: |
FTX US warns users that it could halt trading in the coming days, hours after SBF said that FTX US was “100% liquid”; some Tron-linked funds can be withdrawn — Sam Bankman-Fried said the FTX US entity's users would be able to withdraw all their funds.
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Bloomberg, CoinDesk, The Block, Axios, Reuters, Buy Bitcoin/Ethereum, CryptoSlate, and CNBC
Tweets: @justinsuntron, @ftx_official, @justinsuntron, @sbf_ftx, @statelayer, @dogetoshi, @simondixontwitt, @alfaleek, @emperorbtc, @0xfoobar, @huobiglobal, @caprioleio, @hsakatrades, @tier10k, @hsakatrades, @lucasnuzzi, @fomocapdao, @lilmoonlambo, @dennis_porter_, @y0k0s0n, @bcbacker, @anbessa100, @petercontibrown, @aliatiia_, @traderskew, @wassielawyer, @justinsuntron, @ftx_official, @evgenygaevoy, @dgntec, @ftx_official, @ftx_official, @dogetoshi, @cryptogodjohn, @davidzmorris, @cobie, @dogetoshi, @tackettzane, @davidiach, @davidbelle_, @cryptokaleo, @tier10k, @ahcastor, @defiyst, and @adamscochran
| Bryce Elder / Financial Times: |
As FTX faces bankruptcy, an attempt to untangle its extremely complex corporate structure, which could pose a problem for liquidators and law enforcement — Relationship status: it's complicated — With crypto exchange FTX short $8bn and hurtling towards bankruptcy … | Oliver Knight / CoinDesk: |
Tether freezes FTX's $46M in USDT on the Tron blockchain at the request of law enforcement while investigations occur — The stablecoin lost its $1 peg earlier on Thursday. — Stablecoin issuer Tether has frozen $46 million of USDT held on the Tron blockchain by failing crypto exchange FTX following a request from law enforcement.
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Reuters, Blockworks, crypto.news, Cryptonews, CoinGape, and Cointelegraph
Tweets: @whale_alert, @tier10k, @pentosh1, and @whale_alert
| Dan Primack / Axios: |
Sequoia tells partners the firm marked down its FTX investment of $213.5M across two funds to $0, saying it “ran a rigorous diligence process” before investing — - Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund's total capital commitment.| Gillian Tan / Bloomberg: |
Source: citing an $8B shortfall, Sam Bankman-Fried told investors that FTX needs a cash injection or the company will need to file for bankruptcy — Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy …
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Wall Street Journal, CoinDesk, CNBC, Insider, Reuters, CNN, and Coinpedia Fintech News
Tweets: @cz_binance, @tier10k, @reptomemmer, @hsakatrades, @sbf_ftx, @paoloardoino, @astro__magic, @aeyakovenko, @autismcapital, @zhusu, @ercwl, and @adamscochran
| Callan Quinn / The Block: |
Binance shares addresses for its wallets and details its holdings: 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, 58M BNB, and a $1B SAFU fund — - Binance has released the addresses of its hot and cold wallets. — It provided a snapshot of its current holdings.
More:
Binance Blog and CoinDesk
Tweets: @cz_binance, @cmsintern, @sonofthesunbtc, and @thecoffeeblock
| 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.
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Tech Policy Press, NBC News, The Register, TechCrunch, International Business Times, CNN, Engadget, Bloomberg, AppleInsider, Reuters, TheGamer, Forbes, Politico, and InfoRiskToday.com
Tweets: @leakissner, @caseynewton, @cat_zakrzewski, @mmasnick, @thezedwards, @mariannefogarty, @caseynewton, @popehat, @reckless, @caseynewton, @alexeheath, @alexeheath, @manan, @tarah, @riana_crypto, @riana_crypto, @justinhendrix, @cat_zakrzewski, @oneunderscore__, @josephmenn, @jonquilynhill, @carnage4life, @chadloder, @tomcoates, @hypatiadotca, @tomcoates, @reckless, @caseynewton, @mmasnick, @evacide, @mmasnick, @caterina, @alexstamos, and @alexstamos
| Kurt Wagner / Bloomberg: |
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and bans remote work, saying employees must be in the office 40+ hours per week — New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
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New York Times, Ars Technica, USA Today, The Verge, Thurrott, TheStreet, Neowin, MobileSyrup, New York Post, Newser, Financial Times, BBC, and Tech Xplore
Tweets: @gergelyorosz, @sh4na, @sarahfrier, @chrischirp, and @louiseridley
| 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:
Bloomberg, Ars Technica, and WRAL TechWire
Tweets: @kantrowitz, @tsimonite, @elonjames, @lydiakiesling, @ghostfinder, @_zeets, @_bencrawford_, @infrahumano, and @miketanier
| Kif Leswing / CNBC: |
Apple plans to launch Emergency SOS with Satellite in November and pay $450M to US companies enabling the texting feature, with the majority going to Globalstar — - Apple said Thursday that it will spend $450 million with U.S. companies including Globalstar to enable its new emergency satellite texting feature.
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Apple, Computerworld, PCMag, ZDNet, CNET, Macworld, fpt., Wccftech, KnowTechie, Tom's Guide, BigTechWire, Cult of Mac, iPhone in Canada Blog, and MacRumors. Tweets: @tim_cook
| Wall Street Journal: |
Sources: Amazon started a monthslong cost-cutting review of its unprofitable businesses, like its devices unit, which had a $5B+ operating loss in recent years — Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show
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Insider, CNN, SiliconANGLE, Financial Times, Fortune, and Bloomberg
Tweets: @ben11kehoe and @quinnypig
| Mark Gurman / Bloomberg: |
Apple limits iOS' AirDrop in China for receiving files from non-contacts to 10 minutes after its use in protests, and plans to change the global default in 2023 — Apple Inc. has limited the AirDrop wireless file-sharing feature on iPhones in China after the mechanism was used by protesters to spread images to other iPhone owners.
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9to5Mac, Insider, The Verge, Gizmodo, Thurrott, iDownloadBlog.com, TechCrunch, MacDailyNews, and iPhone in Canada Blog
Tweets: @therealjoshye and @zeyiyang
| Taylor Hatmaker / TechCrunch: |
Fake Twitter accounts of athletes and other celebrities, some now suspended, are spreading fake announcements and chaos as paid Blue checkmarks become available — Elon Musk's mercurial leadership and half-baked product plans are already creating fertile ground for confusion on Twitter.
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The Verge, The Verge, Ars Technica, TechCrunch, The Week, Bloomberg, Forbes, AppleInsider News, Fortune, MobileSyrup, Variety, Polygon, Destructoid, Android Headlines, Kotaku, and NBC News
| Kyle Wiggers / TechCrunch: |
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Washington Post, Insider, fpt., MobileSyrup, NBC News, iMore, and Mashable
Tweets: @elonmusk, @waemd, @esthercrawford, @mcuban, @esthercrawford, @jasonschreier, @elonmusk, @esqueer_, @mmasnick, @dangeredwolf, @mkbhd, @mattbinder, @fascinated, @alexvtunzelmann, @enichan, @mds, @levie, and @caseynewton
| Kyle Wiggers / TechCrunch: |
Mem, a work-focused app that uses AI to organize notes, raised $23.5M led by the OpenAI Startup Fund at a $110M valuation, bringing its total funding to $29M — Last year, OpenAI announced the OpenAI Startup Fund, a tranche through which it and its partners, including Microsoft …
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The Verge
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