December 13, 2022, 1:30 PM

Top News

U.S. Securities and Exchange Commission:
The SEC charges Sam Bankman-Fried with defrauding investors and concealing diverting FTX customer funds to Alameda while raising $1.8B+ since at least May 2019  —  Defendant concealed his diversion of FTX customers' funds to crypto trading firm Alameda Research while raising more than $1.8 billion from investors
Bahamas AG Ryan Pinder and US SDNY Attorney Damian Williams confirm Bahamas police arrested Sam Bankman-Fried, who is under indictment and could be extradited  —  - The cofounder and former CEO of bankrupt crypto trading firm FTX was arrested in the Bahamas after the U.S. attorney …
The Southern District of New York charges SBF with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, money laundering, and more  —  - Federal prosecutors in the Southern District of New York unsealed eight separate charges against disgraced FTX co-founder Sam Bankman-Fried …
The CFTC sues Sam Bankman-Fried for fraud, alleging FTX “misappropriated customer funds”, violated its own TOS, extended unlimited credit to Alameda, and more  —  The Commodity Futures Trading Commission sued Sam Bankman-Fried, FTX and Alameda Research for violations of federal commodities laws.
Steven Ehrlich / Forbes:
A look at a draft of Sam Bankman-Fried's planned US House testimony, including accusations against John Ray III and screenshots of a chat with Changpeng Zhao  —  Sam Bankman-Fried, founder of collapsed crypto exchange FTX, was scheduled to testify Tuesday before the U.S. House of Representatives Committee on Financial Services.
Stephanie Murray / The Block:
John Ray III tells the US House that FTX's bankruptcy is “paperless” due to an “unprecedented” lack of documentation, FTX and Alameda are not distinct, and more  —  - New FTX CEO John Ray III said top executives at FTX had “free rein” over the company's many entities.
FTX lawyers say Bahamas officials worked to help SBF regain access to FTX Trading's systems, asking him to mint a coin to transfer funds to island officials  —  Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems …
U.S. House Committee on Financial Services:
Adam James / The Block:
Changpeng Zhao addresses major USDC outflows, saying Binance users can “withdraw any other stablecoin”; Nansen shows users withdrew $1.6B+ in ETH in 24 hours  —  - Binance CEO Changpeng Zhao has addressed major USD Coin outflows.  — Some $1.6 billion has been withdrawn …
China files a trade dispute at the WTO against the US over its chip export controls, arguing the curbs threaten the stability of global industrial supply chains  —  China has launched a trade dispute at the World Trade Organization against the United States over its chip export control measures, China's commerce ministry said.
Cat Zakrzewski / Washington Post:
Urvi Dugar / Reuters:
Elon Musk says Twitter Blue subscribers will see half the number of ads as non-subscribers and that the company plans to offer a higher tier with no ads in 2023  —  Twitter owner Elon Musk tweeted on Monday that Twitter's Basic blue tick will have half the number of advertisements …
Melissa Heikkilä / MIT Technology Review:
A reporter tries Lensa, but unlike her male peers whose avatars were astronauts, warriors, and the like, many of hers were “pornified”, with 16 of 100 topless  —  My avatars were cartoonishly pornified, while my male colleagues got to be astronauts, explorers, and inventors.
Beatrice Peterson / ABC News:
Meta plans to share its free, open-source Hasher Matcher Actioner moderation tool, which helps platforms identify terrorist or human trafficking content  —  It said it will help prevent the spread of violent images on the internet.  —  Meta, formerly named Facebook, said it's opening …
Emma Roth / The Verge:
DoNotPay announces an AI-powered chatbot that can renegotiate bills and cancel subscriptions by chatting to customer service, rolling out in the coming weeks  —  DoNotPay, the company that bills itself as “the world's first robot lawyer,” is launching a new AI-powered chatbot that can help …
Cordilia James / Wall Street Journal:
Instagram rolls out Notes, a friend-focused status updates feature that appear atop the inbox, and begins testing BeReal-like Candid Stories in South Africa  —  With fresh ways to connect with friends, is Instagram trying to be Instagram again?  —  Polished is out and authentic …
Sarah Perez / TechCrunch:
Sensor Tower: Lensa tops the US App Store with 3.6M installs in December so far, out of 12.6M global installs by December 11, up 600% from November 20 to 30  —  Lensa AI's popularity has had a notable impact on the App Store's Top Charts.  The popular photo and video editing app recently went viral …
More: 9to5Mac
Wall Street Journal:
The EU publishes a draft approval of its preliminary US data sharing deal, struck in March to ease business sharing, after the US promised surveillance changes  —  Brussels gives tentative approval as part of pending deal to allow companies to transfer European data across the Atlantic
Kyle Wiggers / TechCrunch:
Ngrok, which helps devs deploy sites, services, and apps, raised a $50M Series A led by Lightspeed, says ~5M devs use the service and ~30K are paying customers  —  Ask Alan Shreve why he founded Ngrok, a service that helps developers share sites and apps running on their local machines or servers …
Ivan Mehta / TechCrunch:
iOS 16.2 arrives with improved encryption for iCloud data, Freeform app, AirDrop limitations, Apple Sing, a karaoke-like feature for Apple Music, and more  —  Apple is rolling out its iOS 16.2 update for all users today along with iPadOS 16.2 and macOS Ventura 13.1.
Warren P. Strobel / Wall Street Journal:
Officials and studies: US spy agencies have been slow to adapt to open-source intelligence, falling behind China, which has the largest and most focused effort  —  China outpaces efforts by U.S. intelligence agencies to harness power of publicly available data  —  The U.S. Strategy to Catch Up on China's Global Push for Influence
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