November 16, 2022, 3:00 PM

Top News

Washington Post:
Elon Musk emails Twitter employees an ultimatum: commit to a new “hardcore” Twitter by 5pm ET on November 17 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:
A look at FTX and Alameda's financials, including showing investors balance sheets with some of the same assets, despite claiming they operated independently  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Wall Street Journal:
Former employees detail the chaos after FTX's collapse: mass resignations, learning news from Twitter and the media, equity compensation evaporating, and more  —  Many say they learned of crypto exchange's deteriorating situation through media and lost access to their funds  —  How FTX Went Bankrupt: What Went Wrong
Milky Eggs:
Everything we know about FTX's collapse: losses likely exceed $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).
Sidhartha Shukla / Bloomberg:
A wallet tied to the FTX hack swapped ~$49M of stablecoins for ether on November 15, increasing its haul to 228,523 ETH, or the 35th largest stash of the coin  —  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.
Nelson Wang / CoinDesk:
Genesis' crypto lending unit, which had $2.8B in Q3 2022 active loans, halts redemptions and new loan originations; trading and custody services 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.
Oliver Knight / CoinDesk:
Audit by JS Held: Terraform Labs and Luna Foundation Guard tried to defend the UST stablecoin in May 2022 by spending $613M and $2.8B in crypto, respectively  —  Terraform Labs founder Do Kwon dismissed similarities with the collapse of FTX.  —  Luna Foundation Guard (LFG) …
Stephanie Condon / ZDNet:
Nvidia and Microsoft sign a multiyear deal to build an AI supercomputer in the cloud, making Azure the first public cloud to incorporate Nvidia's full AI stack  —  Nvidia and Microsoft announced Wednesday a multi-year collaboration to build an AI supercomputer in the cloud, adding tens of thousands of Nvidia GPUs to Microsoft Azure.
Despite CEO Kris Marszalek's assurances, customers worry about the exchange's solvency;'s CRO token has fallen nearly 40% in the past week  —  - CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …
Colin Wilhelm / The Block:
The US House Financial Services Committee plans to hold a hearing in December on FTX's collapse and invites Sam Bankman-Fried, Alameda, Binance, and others  —  - The House Financial Services Committee will hold a hearing on FTX in December.  — In a joint statement announcing the hearing …
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.
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 …
Will Feuer / Wall Street Journal:
Citing a still weakening outlook for 2023, Micron expects wafer production for DRAM and NAND flash memory chips will be about 20% lower than in the past quarter  —  Company cites market conditions for softening demand  —  Micron MU -5.04%decrease; red down pointing triangle Technology Inc …
Nikhil Patwardhan / Moneycontrol:
Simplilearn, which offers upskilling courses, bootcamps, and certifications, raised $45M led by GSV Ventures; Blackstone acquired a $250M majority stake in 2021  —  The higher learning edtech platform will use the funds to boost its growth plans in India and international markets

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