Techmeme
December 30, 2022, 7:30 PM

Top News

Reuters:
The Bahamas' Securities Commission is holding FTX assets worth $3.5B on a temporary basis and plans to deliver them to customers and creditors who own them  —  The Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing …
New York Times:
Sources detail Elon Musk's Twitter cost-cutting measures, including closing a data center, reducing training for new staff, and canceling janitorial services  —  Elon Musk has reduced the company to a bare-bones operation, and employees are under a “zero-based budgeting” mandate to justify any spending.
Taylor Soper / GeekWire:
After not paying rent, Twitter is reportedly closing its Seattle office, its second-largest engineering hub outside of San Francisco, and asking staff to WFH  —  Twitter is reportedly facing eviction at its Seattle office and is asking employees to work from home as the social media giant looks to cut costs under new owner Elon Musk.
Wall Street Journal:
Sources: Sam Bankman-Fried will likely plead not guilty to fraud and other charges at a January 3 hearing; SBF returns to Twitter to deny he moved Alameda funds  —  FTX founder Sam Bankman-Fried is likely to plead not guilty to eight counts of fraud at a hearing next week, according to a person familiar with the matter.
Emily Birnbaum / Bloomberg:
Tim Wu, who helped shape Joe Biden's antitrust agenda, plans to leave his adviser role on January 4 and return to teaching antitrust law at Columbia Law School  —  Adviser Tim Wu, who helped to shape President Joe Biden's antitrust agenda, will leave his position Jan. 4, the White House said Friday.
Matt Levine / Bloomberg:
Crypto created a toy financial system and had a toy financial crisis; in order to work in the long run, crypto must prove its real usefulness outside of finance  —  On Oct. 25, Bloomberg Businessweek published “The Crypto Story,” a cover-to-cover issue of the magazine that I wrote about what crypto is and what it all might mean.
Dan Strumpf / Wall Street Journal:
Sam Kessler / CoinDesk:
Sam Kessler / CoinDesk:
Sam Schechner / Wall Street Journal:
Amazon, Apple, and Microsoft plan to connect data centers to heating systems in Europe; Meta began in 2020 in Denmark, and Google is assessing its opportunities  —  Rising energy prices and new regulations contribute to an increase in projects  —  With an energy crisis hitting Europe …

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