Techmeme
November 12, 2022, 12:50 AM

Top News

MacKenzie Sigalos / CNBC:
FTX, FTX US, Alameda Research, and ~130 affiliated companies file for Chapter 11 bankruptcy in the US; Sam Bankman-Fried resigns as CEO but stays on to assist  —  - Sam Bankman-Fried's cryptocurrency exchange FTX has filed for bankruptcy.  — Alameda Research and approximately 130 …
CoinDesk:
FTX US general counsel says he is investigating “abnormalities with wallet movements” after $380M+ in crypto left FTX and FTX US wallets on November 11  —  FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
Angus Berwick / Reuters:
Sources: spreadsheets shown by SBF to FTX's regulatory and legal teams show that at least $1B of client funds that moved from FTX to Alameda is unaccounted for  —  At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.
Zane Tackett / @tackettzane:
Washington Post:
Internal note: Twitter temporarily disabled signing up for Twitter Blue to “help address impersonation issues” affecting brands, politicians, and celebrities  —  Twitter accounts impersonating celebrities and politicians spread on the site after the company rolled out paid check marks.
Elizabeth Lopatto / The Verge:
Twitter reactivates its gray “Official” badge for select brands and outlets, after a wave of impersonations, hoaxing, and other chaos by purchased blue checks  —  Okay, so Twitter broke its own verification system by making the blue check — previously a signal that the account …
New York Times:
An internal Twitter log shows that more than 140,000 accounts had signed up for the new Twitter Blue as of November 10  —  The social media service, which is undergoing changes from its new owner Elon Musk, has descended into a messy swirl of spoof messages and parody accounts.
New York Times:
Interviews with 36 current and former Twitter employees and people close to the company detail the excruciating fallout of Elon Musk's first two weeks in charge  —  Mr. Musk ordered immediate layoffs, fired executives by email, laid down product deadlines and has transformed the company.
Bloomberg:
Reuters:
Meta tells staff the company plans to exit its Portal business, wind down smartwatch projects, and says 46% of its 11K job cuts were in tech vs. 54% in business  —  Meta Platforms (META.O) told employees on Friday that 54% of the 11,000 jobs it cut earlier this week were business roles and the rest were in technology.
Sage D. Young / CoinDesk:
Crypto.com shares its wallet addresses with Nansen to create a dashboard of ~$3B in assets, showing ~20% are in Shiba Inu, more than ETH's ~17%; ~30% are in BTC  —  As large crypto exchanges push to prepare “proof-of-reserves” audits, an initial effort reveals just how much of Crypto.com's reserves …
Financial Times:
A look at Sam Bankman-Fried's rise and fall in DC: becoming the face of crypto, backing a digital commodity bill, and testifying before congressional committees  —  Sam Bankman-Fried sought digital asset legislation and donated heavily to Democrats  —  In less than four years …
Adi Robertson / The Verge:
Meta Quest Pro review: improved controllers but irredeemably bad software and feels like it was launched without plan or purpose, highlighting VR's drawbacks  —  Meta's $1,499 headset is better at showcasing VR's weaknesses than its new strengths. … Mark Zuckerberg is betting the entire future of his company on the metaverse.

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Louise Matsakis / Semafor: