[Thread] FTX CEO Sam Bankman-Fried apologizes, says he “fucked up” and his priority is “doing right by users”, plans to raise funds and close Alameda, and more
1) I'm sorry. That's the biggest thing. I fucked up, and should have done better.
Twitter reactivates its gray “Official” badge for select high-profile accounts, after a wave of impersonators bought blue checks
Okay, so Twitter broke its own verification system by making the blue check — previously a signal that the account had provided information …
Source: SBF told investors that Alameda owes FTX ~$10B and FTX extended loans to Alameda using customer funds, describing the decision as a poor judgment call
Wall Street Journal :
FTX, FTX US, and Alameda file for Chapter 11 bankruptcy in the US; Sam Bankman-Fried resigns as CEO
- Sam Bankman-Fried's cryptocurrency exchange FTX has filed for bankruptcy. — Alameda Research and approximately 130 additional affiliated companies are part of the voluntary proceedings.
The Bahamas Securities Commission freezes the assets of FTX Digital Markets and “related parties” and appoints an attorney as a provisional liquidator
Supreme Court Appoints Provisional Liquidator Tweets: @guardiannassau : Today, the Securities Commission of The Bahamas took action to freeze the assets of FTX Digital Markets. The Commission also app...
Current and former FTX and Alameda staff describe rampant conflicts of interest, nepotism, and a lack of oversight while SBF ran the companies with housemates
“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.
A look at Sam Bankman-Fried's rise and fall in DC: becoming the face of crypto regulation, proposing bills, and testifying to Congress before FTX collapsed
Sam Bankman-Fried sought digital asset legislation and donated heavily to Democrats — In less than four years …
Fake Twitter accounts of athletes and other celebrities, some now suspended, are spreading fake announcements and chaos as paid Blue checkmarks become available
Taylor Hatmaker / TechCrunch :
Interviews with 36 current and former Twitter employees detail the excruciating chaos during Elon Musk's first two weeks in charge
Mr. Musk ordered immediate layoffs, fired executives by email, laid down product deadlines and has transformed the company. — SAN FRANCISCO — Elon Musk had a demand.
Internal note: Twitter has temporarily disabled sign-ups for Twitter Blue to “help address impersonation issues” affecting brands, politicians, and celebrities
Twitter accounts impersonating celebrities and politicians spread on the site after the company rolled out paid check marks.
FTX US tells users to close out positions as it may halt trading in days, hours after SBF said FTX US is “100% liquid”; some Tron-linked tokens can be withdrawn
eg. Bahamas account creates an NFT, the stuck user buys the NFT with their full balance. https://twitter.com/... @statelayer : lots of sizable withdraws hapenning in the last hrs (this is USDT) , peop...
Twitter's head of Trust & Safety Yoel Roth resigned on November 10; sources: head of ad sales Robin Wheeler also resigned, but Elon Musk convinced her to stay
Elon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion …
Sources: at an all-hands, Elon Musk told staff that Twitter may have a “net negative cash flow” of billions in 2023 and “bankruptcy is not out of the question”
Elon Musk told Twitter employees on Thursday the company may have a “net negative cash flow of several billion dollars” …
[Thread] FTX's former Institutional Sales head looks at its balance sheet and options, including bankruptcy or issuing a token, and their pros and cons
1/I obviously have 0 say at this point, but hey, interested to hear others' thoughts: Two options: A) bankruptcy B) token [THESE ARE NOT CONCRETE NUMBERS] Liabilities: -8.8bn Liquid assets: 900m Less ...
BlockFi pauses withdrawals and asks users not to deposit to its wallet or interest accounts, saying it can't operate normally amid “lack of clarity” around FTX
BlockFi had made a deal with FTX earlier this year. — Crypto Lender BlockFi said it could not conduct business …
Twitter employees are concerned by the rapid rollout of features without the security reviews required by the FTC's consent decree reached with Twitter in May
Washington Post :
Some Twitter users say the option to sign up for $8 Twitter Blue has disappeared from its iOS app; an error message says it will be available “in the future”
Elon Musk says Twitter will not survive “without significant subscription revenue” and that the company needs roughly half of revenue to come from subscriptions
The Verge :
Amazon unveils new Prime Air delivery drone MK30, claiming it is 25% quieter and can handle high temperatures and light rain, due to come into service in 2024
Amazon is building a better drone that should help chart a course for the company's Prime Air delivery service after the project …
Netflix announces that its first-ever live, global streaming event will be a comedy special from Chris Rock in early 2023
Peter White / Deadline :
Amazon unveils Sparrow, a robotic arm using AI to move items of varying shapes and sizes for packaging, saying it identifies ~65% of Amazon's product inventory
a state-of-the-art robot that handles millions of diverse products Vish Gain / Silicon Republic : Amazon unveils new robotic arm and a drone that can fly in the rain Ben Lyons / Gamereactor UK : Amazo...
Japan plans to invest up to $500M in a new semiconductor company led by Japanese firms including Sony and NEC that aims to start manufacturing by the late 2020s
SoftBank reports a $7.3B loss for Vision Fund in Q2, down from a $16.6B loss in Q1, driven by declines in public investments, such as SenseTime and Doordash
Bloomberg :
Meta Quest Pro review: improved controllers but irredeemably bad software and feels like it was launched without plan or purpose, highlighting VR's drawbacks
Meta's $1,499 headset is better at showcasing VR's weaknesses than its new strengths. … Mark Zuckerberg is betting the entire future of his company on the metaverse. Tweets: @reckless , @mmasnick , @g...
How Amazon's shopping experience, saturated with sponsored products, impacts sellers and consumers, as its ad revenue surpassed revenue from Prime in 2022
Jason Del Rey / Vox :
Moscow-based Kaspersky plans to shut down its Kaspersky Secure Connection VPN in Russia, starting with the free version on November 15, 2022
Bill Toulas / BleepingComputer :
Google Play expands its third-party billing pilot to the US, Brazil, and South Africa, with Bumble joining Spotify as one of the pilot testers
Sarah Perez / TechCrunch :
Substack announces writer Bestseller badges based on the number of paid subscribers: purple for tens of thousands, orange for thousands, and white for hundreds
On Substack : Tweets: @alexcornell See also Mediagazer Tweets: Alex Cornell / @alexcornell : @SubstackInc Would have let this one cook a little longer; this implementation is clearly problematic. The...
Thomson Reuters plans to acquire tax automation software company SurePrep for $500M in cash, with the deal expected to close in Q1 2023
Paul Sawers / TechCrunch : See also Mediagazer
Sources: Indonesia's GoTo Group is planning to cut 1,000+ jobs, more than 10% of its workforce, and curb its costs
Bloomberg :
AMD announces its fourth-generation Epyc Genoa chips, based on the Zen 4 architecture, with up to 96 cores and DDR5, PCIe 5.0, and Compute Express Link support
Sources: Amazon started a monthslong cost-cutting review of its unprofitable businesses, like its devices unit, which had a $5B+ operating loss in recent years
Mem, a work-focused app that uses AI to organize notes, raised $23.5M led by the OpenAI Startup Fund at a $110M valuation, bringing its total funding to $29M
Kyle Wiggers / TechCrunch :
Shopify's new AI commerce stack
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