Techmeme
November 11, 2022, 5:40 PM

Top News

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 …
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.
New York Times:
An internal Twitter log shows that more than 140,000 accounts had signed up for the new Twitter Blue as of Thursday, 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.
Bloomberg:
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 …
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 a “lack of clarity” about FTX  —  BlockFi had made a deal with FTX earlier this year.  —  Crypto Lender BlockFi said it could not conduct business …
Zane Tackett / @tackettzane:
[Thread] FTX's former Institutional Sales head looks at its balance sheet and options, including bankruptcy or issuing a token, and their pros and cons  —  1/I obviously have 0 say at this point, but hey, interested to hear others' thoughts: Two options: A) bankruptcy B) token [THESE ARE NOT CONCRETE NUMBERS] Liabilities: -8.8bn Liquid assets: 900m Less liquid: 2.037bn Illiquid: 3.2bn liquid hole: -7.9bn illiquid hole: -2.66bn
Wall Street Journal:
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.
Erin Woo / The Information:
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 …
Tracy Wang / CoinDesk:
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 …

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