Techmeme
November 16, 2022, 9:50 PM

Top News

Reuters:
Sources reveal FTX and Alameda's dubious financial practices, like showing investors some of the same assets on their books despite claiming separate operations  —  As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked …
Kelsey Piper / Vox:
A chat via DM with SBF on why regulators “make everything worse”, FTX and Alameda's “messy accounting”, why he regrets filing for bankruptcy, ethics, and more  —  The fallen crypto CEO on what went wrong, why he did what he did, and what lies he told along the way.
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:
Sidhartha Shukla / Bloomberg:
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:
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.
Peter White / Deadline:
Apple plans to launch its Major League Soccer Season Pass on February 1 for $15/month or $99/season and $13/month or $79/season for Apple TV+ subscribers  —  Apple has unveiled more plans for its launch of Major League Soccer (MLS).  —  The streamer has revealed the pricing and launch details …
Kyle Wiggers / TechCrunch:
Evernote agrees to be acquired by Milan-based app developer Bending Spoons, in a transaction expected to close in early 2023; Evernote has raised $290M to date  —  Evernote, the note-taking and task management app founded over 20 years ago, has been acquired by Milan-based app developer Bending Spoons.
Michael McSweeney / The Block:
The Australian Securities Exchange paused its years-long blockchain project to replace its settlement and clearing system, saying it plans to write-off $175M  —  - The Australian Securities Exchange (ASX) is dropping a long-in-the-making blockchain-powered replacement for its CHESS settlement and clearing system.
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 …
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) …
Financial Times:
The UK blocks the sale of Newport Wafer Fab to Nexperia, owned by China's Wingtech, on national security grounds and orders Nexperia to divest 86% of Newport  —  Months of wrangling over chipmaker sees deal with China-owned company thwarted on national security grounds
CNBC:
Despite Crypto.com CEO Kris Marszalek's assurances, customers worry about the exchange's solvency; Crypto.com's CRO token has fallen nearly 40% in the past week  —  - Crypto.com CEO Kris Marszalek has taken to Twitter, YouTube and the airwaves to try to reassure customers that their deposits …

Sponsor Posts

Google:
Try Gemini 3 Pro  —  Google's newest and most intelligent AI model that helps you bring any idea to life
Shopify:
Transform ML Experimentation with Tangle  —  Save months of compute time with Tangle, built by Shopify.  Try this open-source platform to simplify ML workflows, ensure reproducibility, and seamlessly share with collaborators.
Zoho:
Contract Signed.  Project Ready.  Tasks Created.  —  Every project begins with a promise; a contract that outlines the deliverables, the timelines, and the terms.  But for most businesses …
Bitrix24:
Bitrix24 powers the next generation of high-performing businesses  —  Chat, projects, CRM, and automation — all in one place.  Replace dozens of tools so your team moves faster, collaborates smarter, and grows effortlessly.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Access:
Is Roblox making the internet better or worse? We asked the CEO
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
Lenny's Podcast:
Why LinkedIn is turning PMs into AI-powered "full stack builders" | Tomer Cohen (LinkedIn CPO)
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Great Chat:
Code red: our favorite tech rivalries
A podcast mostly about tech. Brought to you weekly by Angela Du, Sally Shin, Mac Bohannon, Helen Min, and Ashley Mayer.
Subscribe to Great Chat.
Big Technology Podcast:
How An AI Model Learned To Be Bad — With Evan Hubinger And Monte MacDiarmid
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Channels with Peter Kafka:
PBS Lost a Billion Dollars. Now what? With CEO Paula Kerger
Media and tech aren't just intersecting - they're fully intertwined. To understand how those worlds work, Peter Kafka talks to industry leaders, upstarts and observers.
Subscribe to Channels with Peter Kafka.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 9:50 PM ET, November 16, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks

Matthias Bastian / The Decoder: