December 13, 2022, 3:25 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.
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 …
Mark Gurman / Bloomberg:
Sources: Apple plans to allow third-party app stores and other changes on iOS and iPadOS in the EU, spurred by EU requirements coming in 2024  —  Apple Inc. is preparing to allow alternative app stores on its iPhones and iPads, part of a sweeping overhaul aimed at complying with strict European Union requirements coming in 2024.
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 …
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  —  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.
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:
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 …
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 …
Ivan Mehta / TechCrunch:
Apple releases iOS 16.2, iPadOS 16.2, and macOS 13.1, with improved iCloud data encryption, AirDrop limitations, and a karaoke-like feature for Apple Music  —  Apple is rolling out its iOS 16.2 update for all users today along with iPadOS 16.2 and macOS Ventura 13.1.
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

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