December 13, 2022, 6:45 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
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.
Rohan Goswami / CNBC:
Citing Sam Bankman-Fried as a flight risk, a Bahamas magistrate judge denies him bail and says he should be remanded to Bahamian custody until February 8, 2023  —  A magistrate judge in the Bahamas on Tuesday denied bail to FTX co-founder Sam Bankman-Fried and said he should be remanded …
Mark Gurman / Bloomberg:
Sources: Apple plans to allow third-party app stores on iOS 17 and iPadOS 17 in the EU, due to EU requirements in 2024, including letting users change defaults  —  Apple Inc. is preparing to allow alternative app stores on its iPhones and iPads, part of a sweeping overhaul aimed at complying …
New York Times:
Sources: Twitter stopped paying rent on offices and is considering not paying severance packages to cut costs, as its top lawyer Alex Spiro leaves the company  —  Twitter has stopped paying rent on offices and is considering not paying severance packages to former employees, among other measures.
Adam James / The Block:
Binance CEO addresses major USDC outflows, saying users can “withdraw any other stablecoin”; Nansen: users withdrew ~$1.6B on the Ethereum network in 24 hours  —  - Binance CEO Changpeng Zhao has addressed major USD Coin outflows.  — Some $1.6 billion has been withdrawn …
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.
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 …
Melissa Heikkilä / MIT Technology Review:
When a female reporter tried Lensa, many of her 100 avatars were “pornified”, with 16 topless; her male peers got avatars of astronauts, warriors, and the like  —  When I tried the new viral AI avatar app Lensa, I was hoping to get results similar to some of my colleagues at MIT Technology Review.
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.
Cordilia James / Wall Street Journal:
Instagram rolls out Notes, friend-focused status updates that appear atop the inbox, to all users, 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 …
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.
Beatrice Peterson / ABC News:
Meta plans to release Hasher Matcher Actioner, a moderation tool to help platforms identify terrorist or human trafficking content, for free and as open source  —  It said it will help prevent the spread of violent images on the internet.  —  Meta, formerly named Facebook …
Emma Roth / The Verge:
DoNotPay announces an AI-powered chatbot that can negotiate bills and cancel subscriptions by chatting to customer service, rolling out in the next two weeks  —  DoNotPay, the company that bills itself as “the world's first robot lawyer,” is launching a new AI-powered chatbot that can help …
Cat Zakrzewski / Washington Post:
Wall Street Journal:
The EU publishes a draft approval of its preliminary US data sharing deal, struck in March 2022 to help businesses, 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
Ivan Mehta / TechCrunch:
Apple rolls out iOS 16.2, iPadOS 16.2, and macOS 13.1, with improved iCloud data encryption, AirDrop limitations, Freeform, and an Apple Music karaoke feature  —  Apple is rolling out its iOS 16.2 update for all users today along with iPadOS 16.2 and macOS Ventura 13.1.
Marcela Ayres / Reuters:
Brazil's central bank plans to launch its digital currency in 2024 after a closed pilot program with financial institutions in 2023; the IMF approved the model  —  Brazil's central bank aims to launch its digital currency in 2024 after a closed pilot program next year with financial institutions …

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Urvi Dugar / Reuters: