Techmeme
December 5, 2022, 9:25 AM

Top News

Joshua Oliver / Financial Times:
In an interview, SBF admits involvement in Alameda's largest uses of funds: spending $3B to buy out Binance's stake in FTX and pouring $4B into venture capital  —  Exchange's former CEO says he was close to key decisions at nominally separate trading firm  —  Speaking from his bed in Nassau …
Ankush Khardori / New York Magazine:
Unlike Bernie Madoff, SBF has not confessed to any criminal conduct, arguing FTX's collapse was purely sloppiness, meaning a US prosecution could take some time  —  On December 11, 2008, Bernie Madoff was arrested and criminally charged with one of the biggest financial frauds in history …
Stephanie Murray / The Block:
SBF says John Ray III is not working with him or responding to messages, claims Ray made false statements, and dodges questions on Alameda and loaning funds  —  - Sam Bankman-Fried is taking aim at John Ray, the new CEO of FTX, claiming he's been iced out after the firm filed for bankruptcy protection.
Simon Sharwood / The Register:
Reuters:
Source: Foxconn expects its Zhengzhou plant to resume full production in late December or early January, but plans may change; November revenue drops 11.4% YoY  —  Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January …
Joe Rossignol / MacRumors:
Kuo: mass shipments of Apple's AR/VR headset may be delayed until H2 2023, from previously estimated Q2 2023, due to “software-related issues”  —  Mass shipments of Apple's long-rumored AR/VR headset may be delayed until the second half of 2023 due to unspecified “software-related issues …
James Vincent / The Verge:
Stack Overflow temporarily bans users from sharing responses generated by ChatGPT, pending a ruling in the future; most answers are wrong on closer inspection  —  Stack Overflow, the go-to question-and-answer site for coders and programmers, has temporarily banned users from sharing responses generated by AI chatbot ChatGPT.
Parikshit Mishra / CoinDesk:
USDC stablecoin developer Circle ends its planned SPAC merger with Concord Acquisition Corp., announced in July 2021, by mutual agreement  —  The firm had announced plans to go public in July of 2021.  —  Circle, the company behind stablecoin USDC, has terminated its agreement …
Dan Milmo / The Guardian:
Survey of 8,000 young people in nine European countries finds 34% have pirated content, 27% reported trolling someone, 22% reported inciting violence, and more  —  EU-funded survey of people aged 16-19 finds one in four have trolled someone - while UK least ‘cyberdeviant’ of nine countries
Lauren Goode / Wired:
An interview with Max Levchin on Affirm, the US CFPB's inquiry into BNPL services, problems with credit cards, the current economic environment, and more  —  The PayPal cofounder on why his “buy now, pay later” company Affirm is a healthier way to borrow, what caused the techlash, and Elon Musk's Twitter.

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