January 11, 2023, 3:35 PM

Top News

Bankruptcy hearing: FTX has recovered $5B+ so far, excluding $425M held by the Bahamas or “illiquid cryptocurrency tokens”; FTX's Alameda credit line was $65B  —  The announcement substantially raises the total FTX has recovered since filing for bankruptcy last year but it's still short of what customers are owed in total.
Financial Times:
Court documents: Sam Bankman-Fried invested $20M in Paradigm's $2.5B Paradigm One fund in late 2021, and then the fund invested in his FTX and FTX US exchanges  —  Court documents shed light on Sam Bankman-Fried's circular transactions  —  Sam Bankman-Fried invested $20mn in a large venture capital fund …
New York Times:
Sources: in December, Twitter started considering auctioning off usernames to generate revenue; Elon Musk had said he wants to free up 1.5B inactive usernames  —  The company has discussed selling some user names through online auctions, people with knowledge of the plans said.
Sarah Perez / TechCrunch:
Apple launches Apple Business Connect, letting US business owners update and manage their information for Apple Maps, a feature Google Maps has had since 2005  —  Apple Maps today is gaining a new tool that will allow the decade-plus-old service to better compete with Google …
The FAA says US air traffic is “resuming gradually” after its Notice to Air Missions system failed; FlightAware: 7,300+ flights were delayed and 1,100 canceled  —  U.S. flights were slowly beginning to resume departures and a ground stop was lifted after the Federal Aviation Administration …
More: New York Times, Bloomberg, Federal Aviation Administration, Sky News, CNBC, The Register, CNN, Gizmodo, SiliconANGLE, The Hill, MarketWatch, NBC News, Silicon Valley Business …, NPR, DCD, Data Center Knowledge, CNN, Washington Post, Associated Press, Washington Post, Axios, Wall Street Journal, Semafor, ABC News, Computerworld, CIO Dive, Fox Business, SecurityWeek, Federal Computer Week, Politico, The Guardian, Tech Xplore, TechCrunch, Associated Press, Ars Technica, Livemint, Bloomberg,,, UK Aviation News, ZDNet,, Mediaite, New York Post, Forexlive, Financial Times, HuffPost UK, ITV News, Wall Street Journal, Beyond Search, Deadline, PCMag, Fortune, TIME, Engadget, The Verge, and The Hill
Joe Biden / Wall Street Journal:
Mark Gurman / Bloomberg:
Sources: Apple plans to design and develop its own displays for mobile devices, starting with microLED screens for the Apple Watch Ultra by the end of 2024  —  Apple Inc. is planning to start using its own custom displays in mobile devices as early as 2024, an effort to reduce its reliance …
Kyle Wiggers / TechCrunch:
OpenAI says it's “starting to” think about monetizing ChatGPT, possibly via a ChatGPT Professional version, asks members what price would be too low, and more  —  OpenAI this week signaled it'll soon begin charging for ChatGPT, its viral AI-powered chatbot that can write essays, emails, poems and even computer code.
Binance admits to flaws in maintaining its Paxos-issued BUSD stablecoin backing at 1:1; ChainArgos says BUSD was undercollateralized by $1B+ in 2020 and 2021  —  Binance Holdings Ltd., the biggest cryptocurrency exchange, acknowledged past flaws in the management of its stablecoin's reserves …
Mitchell Clark / The Verge:
Twitter renames Latest Tweets to Following and Home to For You, making the algorithmic feed the default with no option to change it, rolling out on iOS first  —  Twitter is changing how you move between the algorithmically-driven timeline and the reverse chronological one and making the algorithmic feed the default.
Angus Loten / Wall Street Journal:
Analysts say Salesforce's customers don't appear to be swayed by Slack; the messaging service's revenue growth declined from 11.7% in Q1 2022 to 6.9% in Q3 2022  —  Carhartt's CIO says the addition of the messaging app hasn't made Salesforce's products more appealing
Tom Warren / The Verge:
Microsoft announces 365 Basic for $1.99 per month, replacing the 100GB OneDrive storage option, rolling out globally on January 30 with ad-free Outlook and more  —  Microsoft is introducing a new consumer tier to its Microsoft 365 subscription offerings.  Priced at just $1.99 per month …
Jai Vijayan / Dark Reading:
Microsoft releases 98 security fixes, patching 11 critical vulnerabilities and an actively exploited privilege escalation zero-day flaw in Windows ALPC  —  Microsoft's January 2023 Patch Tuesday security update contains fixes for bugs in multiple products.  Here's what you need to patch now.
Riley de León / CNBC:
Supply chain software startup Flexport lays off 20% of its global workforce, or roughly 640 employees; the company was valued at $8B in February 2022  —  - Supply chain software startup Flexport is laying off 20% of its global workforce, or roughly 640 employees, according to a memo from co-CEOs Ryan Petersen and Dave Clark.
Richard Waters / Financial Times:
After Chinese researchers claimed today's quantum computers could break RSA encryption, Western experts caution that any commercial benefits are years away  —  China claims to have made a major breakthrough but western experts say any commercial benefits are still years away
Natasha Mascarenhas / TechCrunch:
Equity management service Carta cuts 10% of its staff, possibly impacting ~200 workers, as it sues a former CTO; the company was valued at $7.4B in August 2021  —  Carta, an equity management platform that was last privately valued at $7.4 billion, has cut 10% of its staff …
More: TechCrunch
Amanda Pedersen / Medical Device + Diagnostic Industry:
A US ITC judge rules that some Apple Watches infringe on one of five Masimo pulse oximeter patents related to using light sensors to measure blood oxygen levels  —  An International Trade Commission judge ruled that Apple infringed on one of five Masimo patents related to using light sensors …
Javier Espinoza / Financial Times:
How Section 19a of the German Competition Act gives antitrust authorities the power to divest and sanction Big Tech, as the EU slowly rolls out its enforcement  —  While EU regulators slowly roll out their own enforcement mechanism, Berlin is already holding gatekeepers to account

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