November 16, 2022, 8:40 AM

Top News

A look at SBF's desperate efforts to raise $7B+ from Sequoia, Apollo, TPG, the Saudis, and others; FTX's internal accounting software hid FTX-Alameda transfers  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Sidhartha Shukla / Bloomberg:
A wallet linked to the suspected FTX hacker swapped ~$49M of stablecoins for ether, taking its haul to 228,523 ETH and becoming the 35th largest ETH holder  —  The hacker who raided Sam Bankman-Fried's collapsed crypto exchange FTX is now one of the world's biggest holders of the token Ether.
Milky Eggs:
Everything we know about FTX's collapse: losses are likely >$15B, trades became increasingly risky, SBF was erratic, rash, and relied on stimulants, and more  —  If you want to read a poorly researched fluff piece about Sam Bankman-Fried, feel free to go to the New York Times (PDF).
Washington Post:
In an email to Twitter staff, Elon Musk gives an ultimatum: commit to a new “hardcore” Twitter by 5pm ET on Thursday or leave with three months severance  —  It comes as Musk's first major feature, Twitter Blue Verified, was halted while the company probes issues that arose from its launch.
Casey Newton / @caseynewton:
[Thread] Sources: last night, Twitter fired ~20 employees who criticized Elon Musk in Slack channels, saying their “recent behavior has violated company policy”  —  NEW: Employees who have criticized Elon Musk in Twitter's Slack channels were fired overnight over email. “We regret to inform you that your employment is terminated immediately,” they're being told over email. “Your recent behavior has violated company policy.”
Kurt Wagner / Bloomberg:
Mark Gurman / Bloomberg:
Internal meeting: Tim Cook told German engineering and retail staff that Apple plans to start sourcing chips from a plant under construction in Arizona in 2024  —  Apple Inc. is preparing to begin sourcing chips for its devices from a plant under construction in Arizona …
Jay Peters / The Verge:
Elon Musk says the new Twitter Blue will relaunch on November 29 “to make sure that it is rock solid”, after pausing signups due to many fake verified accounts  —  Elon Musk says the new Twitter Blue, which lets you pay $7.99 per month for a blue verification check mark next to your name, will relaunch on November 29th.
Despite repeated assurances from CEO Kris Marszalek, customers worry over the exchange's solvency;'s CRO token drops ~40% in the past week  —  - CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …
Nelson Wang / CoinDesk:
Genesis' crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.
Matthias Bastian / The Decoder:
Meta AI and Papers with Code unveil Galactica, an open-source LLM for generating literature reviews, wiki articles, lecture notes on scientific topics, and more  —  The Galactica large language model (LLM) is being trained with millions of pieces of academic content.
Allison Johnson / The Verge:
Qualcomm unveils the Snapdragon 8 Gen 2, claiming 35% faster CPU performance, 25% Adreno GPU performance, Wi-Fi 7 support, and up to 4.35x faster AI performance  —  Qualcomm has announced all the details of its next flagship chipset, the Snapdragon 8 Gen 2, with a focus on better and more efficient performance for AI-related tasks.
Claire Woodcock / VICE:
Some public libraries in the US and Canada are using open-source software MUSICat to offer their own music streaming services and boost their local music scenes  —  It's not Spotify, but some cities now host music platforms with their own local flavor.  —  Claire Woodcock
Oliver Knight / CoinDesk:
An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …
Max Chafkin / Bloomberg:
A look at Alphabet X's Mineral project to build unmanned rovers with sensors and cameras for collecting data that helps agricultural companies improve yields  —  When Deb Menicos walks a strawberry field, she doesn't just look at the berries.  Menicos, who holds a Ph.D. in plant breeding …
Oliver Darcy / CNN:
Sources: tech news website Protocol, launched by former Politico owner Robert Allbritton in February 2020, will close later this week and lay off its ~60 staff  —  New York CNN Business —  Protocol, the upstart technology news website launched by former Politico owner …
Varsha Bansal / Rest of World:
Some Indian gig workers, tired of algorithms dictating their lives and work, are using Telegram to share cheap hacks for gaming the platforms to their advantage  —  Tired of the obscurity around black box algorithms that dictate their lives, India's gig workers are coming up with jugaads to game the system.

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Hartley Charlton / MacRumors: