Binance abandons its rescue acquisition offer for FTX after reviewing FTX's finances, saying “the issues are beyond our control or ability to help”
Crypto exchange's decision leaves FTX with uncertain future as it faces multibillion-dollar shortfall — Sam Bankman-Fried in Talks to Raise More Funding
[Thread] FTX CEO SBF apologizes, says he “fucked up”, claims his priority is “doing right by users”, plans to raise funds and shutter Alameda, and more
1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
Sources detail FTX's rise and fall: CZ's ~$100M investment in 2019, deteriorating relationship with Binance, significant losses at Alameda in 2022, and more
On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message.
Source: SBF told an investor that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as poor judgment
FTX Chief Executive Sam Bankman-Fried told an investor this week that Alameda owes FTX about $10 billion
Source: citing an $8B shortfall, Sam Bankman-Fried told investors that FTX needs a cash injection or the company will need to file for bankruptcy
Sam Bankman-Fried told FTX.com investors on Wednesday that without a cash injection the company would need to file for bankruptcy …
As FTX faces bankruptcy, an attempt to untangle its extremely complex corporate structure, which could pose a problem for liquidators and law enforcement
Relationship status: it's complicated — With crypto exchange FTX short $8bn and hurtling towards bankruptcy …
Fake Twitter accounts of athletes and other celebrities, some now suspended, are spreading fake announcements and chaos as paid Blue checkmarks become available
Elon Musk's mercurial leadership and half-baked product plans are already creating fertile ground for confusion on Twitter.
In his first email to Twitter staff, Elon Musk warns of “difficult times ahead” and ends remote work policies, saying employees should be in 40+ hours per week
New Twitter Inc. owner Elon Musk emailed his workers for the first time late Wednesday to prepare them for …
Tether freezes FTX's $46M in USDT on the Tron blockchain at the request of law enforcement while investigations occur
The stablecoin lost its $1 peg earlier on Thursday. — Stablecoin issuer Tether has frozen $46 million of USDT held on the Tron blockchain by failing crypto exchange FTX following a request from law ...
Major coins are plummeting: Solana crashes 30%+ to ~$14, bitcoin drops 14%+ to below $17,000, a new low since November 2020, and ether drops 17%+ to ~$1,200
Tanaya Macheel / CNBC :
Sequoia tells partners the firm marked down its FTX investment of $213.5M across two funds to $0, saying it “ran a rigorous diligence process” before investing
- Its $150 million of exposure to both FTX and FTX.US in its third global growth fund represents less than 3% of that fund's total capital commitment.
Sources: Twitter's chief privacy officer, CISO, and chief compliance officer have resigned; engineers are now asked to “self-certify” compliance with FTC rules
Twitter's privacy and security teams are in turmoil after Elon Musk's changes to the service bypassed its standard data governance processes.
Apple plans to launch Emergency SOS with Satellite in November and invest $450M in US companies to support the infrastructure, with most going to Globalstar
- Apple said Thursday that it will spend $450 million with U.S. companies including Globalstar to enable its new emergency satellite texting feature.
After Twitter labels select accounts as “Official”, Elon Musk says he “killed it” and an executive says the label “is still going out” as part of the new Blue
Twitter's $8 blue tick rollout sees ‘verified’ fakes Pete Syme / Insider : Trolls are already abusing Elon Musk's new Twitter verification system, impersonating everyone from George Bush to O.J. Simps...
Apple limits iOS' AirDrop in China for receiving files from non-contacts to 10 minutes after its use in protests, and plans to change the global default in 2023
Apple Inc. has limited the AirDrop wireless file-sharing feature on iPhones in China after the mechanism was used by protesters to spread images to other iPhone owners.
Binance shares addresses for its wallets and details its holdings: 475K BTC, 4.8M ETH, 17.6B USDT, 21.7B BUSD, 601M USDC, 58M BNB, and a $1B SAFU fund
- Binance has released the addresses of its hot and cold wallets. — It provided a snapshot of its current holdings.
After FTX's dramatic fall, Binance, Gate.io, KuCoin, Poloniex, Bitget, Huobi, OKX, Deribit, and Bybit pledge to publish their Merkle tree reserve certificates
Shaurya Malwa / CoinDesk :
Elon Musk says Twitter will not survive “without significant subscription revenue”, setting a goal of roughly half of its revenue coming from subscriptions
The Verge :
Experts and Western officials say the Egyptian government's Android app for the COP27 climate summit could help spy on emails, messages, and voice conversations
Western security advisers are warning delegates at the COP27 climate summit not to download the host Egyptian government's …
Sources: Amazon launches a cost-cutting review of its unprofitable businesses, like devices unit, which had a $5B operating loss in recent years; stock up 12%+
Review takes a close look at devices unit, which includes Alexa and has had an annual operating loss of $5 billion in some recent years, documents show
OpenSea plans to continue to enforce NFT royalties on its platform, after X2Y2, Magic Eden, and LooksRare altered their NFT royalty structures
“The world is otherwise burning, but we decided this couldn't wait,” a representative from OpenSea told CoinDesk.
SMIC reports Q3 revenue up 34.7% YoY to $1.91B, with net profit up 54.1% YoY to $574.4M, and expects Q4 revenue to decline by 13% to 15% due to US sanctions
Che Pan / South China Morning Post :
New York- and Bengaluru-based Amagi, a streaming video and ads infrastructure startup, raised a $100M+ Series F led by General Atlantic at a $1.4B valuation
Manish Singh / TechCrunch :
Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4
Bloomberg :
Microsoft begins to roll out iCloud Photos integration in Windows 11 through an update to the built-in Windows Photos app
Tom Warren / The Verge :
GitHub is experimenting with “Hey, GitHub!”, a voice-based interaction system that lets programmers code with just their voice, in its $10/month Copilot tool
Tom Warren / The Verge :
A look at GOP plans for Big Tech if they retake the House: few new laws, hearings on Meta, Twitter, Google, and others, chipping away at Section 230, and more
Anna Edgerton / Bloomberg :
Ordergroove, which offers e-commerce subscription tools for brands and retailers, raised $100M+ led by Primus Capital, bringing its total funding to ~$150M
Ingrid Lunden / TechCrunch :
[Thread] Elon Musk tells advertisers in a Spaces chat that Twitter plans to improve ad relevance, he will pay to verify brands if they don't want to, and more
Sara Fischer / @sarafischer :
A look at Birdwatch, soon to be renamed Community Notes, as Twitter scales back professional debunkings: 194 people submitted notes posted in the past month
Washington Post : See also Mediagazer
Substack adds the ability to hyperlink mentions of other Substack writers or publications in posts, and cross-posting to amplify other writers or posts in email
On Substack : Tweets: @hamishmckenzie See also Mediagazer Tweets: Hamish McKenzie / @hamishmckenzie : You can now tag people and publications on Substack, with @-mentions. You can also now cross-publ...
Law enforcement officers specializing in cryptocurrency investigations are leaving government agencies to join companies like Binance, Coinbase, and Chainalysis
Gian M. Volpicelli / Wired :
Miami-based Ping, which helps remote workers and freelancers collect international payments in fiat and crypto, raised a $15M seed from Y Combinator and others
Christine Hall / TechCrunch :
Miami-based AutoLeadStar, which offers AI-based marketing automation tech to car dealerships and manufacturers, raised a $40M Series C led by Riverwood Capital
Globes Online :
Report: Twitter filed to register with the US Treasury to process payments; source: Twitter is working on a product that accepts cryptocurrencies including DOGE
Becky Peterson / The Information :
DeFi Llama: the total value locked in DeFi has dropped by 12%+ in the past day, after hovering around $50B to $60B since June 2022 and $180B+ in December 2021
Muyao Shen / Bloomberg :
Amazon becomes the world's first public company to lose $1T in market value, from $1.88T in July 2021 to ~$879B; Microsoft has lost $889B since November 2021
Bloomberg :
Shopify's new AI commerce stack
Their VP of Product digs into just-launched products to help entrepreneurs and developers build with the latest AI.
Email fatigue is real: Here's how smart email tools help you regain control
Picture this: It's Monday morning. You walk into the office feeling energized and ready to take on the week.
Protecting your Cloud Applications Data
Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.