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November 10, 2022, 1:10 PM
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| @sbf_ftx: |
[Thread] FTX CEO SBF apologizes, says he “fucked up”, claims his priority is “doing right by users”, plans to raise funds and shutter Alameda, and more — 1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
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New York Times, Axios, The Verge, CoinDesk, On my Om, Fortune, CoinDesk, Reuters, VICE, TechCrunch, CoinDesk, The Block, Bloomberg, Wall Street Journal, Ethereum World News, Crypto Briefing, Bitcoinist.com, CryptoPotato, and Whitespace
Tweets: @sbf_ftx, @sbf_ftx, @ercwl, @grdecter, @sbf_ftx, @marionawfal, @sbf_ftx, @teo_leibowitz, @dogetoshi, @levie, @levie, @bneiluj, @alex_kirshner, @d1nomite, @bobloukas, @sayssimonson, @farokh, @hbomberguy, @alexhern, @danprimack, @levie, @fmanjoo, @el33th4xor, @coindesk, @coindesk, @debdrens, @alexhern, @fmanjoo, @excelhumor, @kathryntewson, @jason_koebler, @macrocrg, @ronwhammond, @smtuffy, @bigblackjacobin, @sgbarbour, @smtuffy, @teroterotero, @crypto_chase, @zerohedge, @thevinhvuong, @jungleincxrp, @mayazi, @autismcapital, @cl207, @barryfried1, @almostmedia, @coffeebreak_yt, @inartecarlodoss, @bongcapital, @santiagoroel, @molly0xfff, @charlesarthur, @sbf_ftx, @dancow, @eoinhiggins_, @greg_doucette, and @twobitidiot
| Reuters: |
Sources detail FTX's rise and fall: CZ's ~$100M investment in 2019, deteriorating relationship with Binance, significant losses at Alameda 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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Wall Street Journal, The Information, CoinDesk, Bloomberg, AppleInsider, CryptoPotato, and Coinspeaker
Tweets: @wublockchain, @lopezlinette, @felixsalmon, @0xsisyphus, and @marionawfal
| Wall Street Journal: |
Source: SBF told an investor that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as poor judgment — FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
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The Block, Bloomberg, CoinDesk, PYMNTS.com, The Guardian, The Block, Financial Times, and The Rebooting
Tweets: @deitaone, @tier10k, @0xfoobar, @adamscochran, @deitaone, @tier10k, @ivanthek, @chainlinkgod, @chainlinkgod, @mayazi, @acczibit, @feyronn, @jonnymoetrades, @ottosuwennft, @gainzy222, @cryptokonata, @52kskew, @trustlessstate, @wassielawyer, @trustlessstate, @grindingpoet, @0xwangarian, @bowtiedbull, @adamscochran, @lilmoonlambo, @tier10k, @johnedeaton1, @felixsalmon, @stoolpresidente, @thecoffeeblock, @johngapper, @firstadopter, @etheraltog, @kairyssdal, @mattrosoff, @firstadopter, @kshaughnessy2, @sonalibasak, @edmundlee, @lhfang, @schuldensuehner, and @tier10k
| 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 … | 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 leaves FTX with uncertain future as it faces multibillion-dollar shortfall — Sam Bankman-Fried in Talks to Raise More Funding
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Reuters, The i Paper, Whitespace, Reuters, PYMNTS.com, CoinDesk, The Block, CNBC, Bloomberg, Cointelegraph, Blockworks, AltFi, CNN, New York Times, Bitcoin News, Coinspeaker, crypto.news, TIME, and Crypto Briefing
Tweets: @binance, @justinsuntron, @cz_binance, @halocrypto, @cobie, @cz_binance, @genesistrading, @binance, @zebulgar, @jespow, @tier10k, @sbf_ftx, @hsakatrades, @paoloardoino, @tier10k, @firstadopter, @stoolpresidente, @astro__magic, @cz_binance, @autismcapital, @1markmoss, @fintechfrank, @doombergt, @jespow, @ianthetechie, @iamdcinvestor, @wassielawyer, @cobie, @cryptohayes, @cmsintern, @hsakatrades, @p3b7_, @camirusso, @adamscochran, @goodalexander, @binance, @ldrogen, @cobie, @rajgokal, @deitaone, @asvanevik, @danprimack, @shaanvp, @cobie, and @deribitexchange
| 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.
More:
Reuters, The Block, Ethereum World News, Bitcoin News, Crypto Briefing, and Blockonomi
Tweets: @tier10k, @whale_alert, @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.
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Moneycontrol, Bloomberg, Silicon Valley Business …, and The Guardian
Tweets: @sequoia, @brian_armstrong, @thestalwart, @ashleevance, @firstadopter, @lmatsakis, @kylebrussell, @kylebrussell, and @taylorlorenz
| 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.| 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, Reuters, Fortune, and Forkast
Tweets: @tier10k, @reptomemmer, @cz_binance, @aeyakovenko, @jerallaire, @zhusu, and @ercwl
| Alex Heath / The Verge: |
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; engineers are now asked 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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Washington Post, Bloomberg, AppleInsider, Reuters, TechCrunch, and Techdirt
Tweets: @leakissner, @caseynewton, @mmasnick, @reckless, @thezedwards, @cat_zakrzewski, @riana_crypto, @alexeheath, @alexeheath, @caseynewton, @caseynewton, @caterina, @alexstamos, @alexstamos, @riana_crypto, @tindenli, @mmasnick, @sherman4949, @tomcoates, @mat, @drnovac, @fmanjoo, @brooklynmarie, @laurenweinstein, @panzer, @hunterwalk, @gartenberg, @reckless, @davechensky, @charlesarthur, @iblametom, @anildash, @wbm312, @alexstamos, @h2katl, @supernovamomma, @jbeda, @flargh, @tomcoates, and @lazerwalker
| Kurt Wagner / Bloomberg: |
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and ends remote work policies, saying employees should be in 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, The Verge, Thurrott, TheStreet, New York Post, City A.M., TechCrunch, CNBC, Tech Xplore, Protocol, and ZDNet
| The Verge: |
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Bloomberg, Ars Technica, and DevOps.com
| Kif Leswing / CNBC: |
Apple plans to launch Emergency SOS with Satellite in November and invest $450M in US companies to support the infrastructure, with most 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.| 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.
More:
9to5Mac, Thurrott, Gizmodo, MacDailyNews, iPhone in Canada Blog, and TechCrunch
Tweets: @zeyiyang and @therealjoshye
| 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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Ars Technica, The Verge, TechCrunch, CNN, AppleInsider News, The Verge, Fortune, Insider, Digg, Mashable, Wired, GameSpot, 9to5Mac, NBC News, and KnowTechie
Tweets: @jsrailton, @tmz, @joonlee, @vxunderground, @misterratt, @chadloder, @asawinstanley, @patblanchfield, @b_fung, @tomwarren, @mcuban, and @mcuban
| Kyle Wiggers / TechCrunch: |
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Washington Post, NBC News, Kotaku, BleepingComputer, Forrester, Gizchina, and Insider
Tweets: @waemd, @elonmusk, @esthercrawford, @esthercrawford, @jasonschreier, @elonmusk, @mcuban, @esqueer_, @mmasnick, @mkbhd, @dangeredwolf, @fascinated, @mattbinder, @alexvtunzelmann, @enichan, @raykump, @mds, @levie, and @caseynewton
| Wall Street Journal: |
Sources: Amazon launches a cost-cutting review of its unprofitable businesses, like devices unit, which had a $5B operating loss in recent years; stock up 10%+ — 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 showSponsor Posts
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