FTX Ventures Head Amy Wu Resigns
Wu joined FTX in January to help Sam Bankman-Fried launch a $2 billion venture fund.
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FTX Files for Bankruptcy, Sam Bankman-Fried Resigns
130 affiliated companies, including FTX US, are also filing for bankruptcy. John J. Ray III will take over as CEO.
Bahamas Security Commission Freezes FTX Assets
The move to freeze FTX’s assets comes after a stunning collapse of what was once the world’s second largest crypto exchange.
Crypto Lender BlockFi Freezes Withdrawals, Cites ‘Lack of Clarity’ on FTX
In a statement, BlockFi also told customers to halt deposits to their wallets and interest accounts
SoftBank Posts Profit As Alibaba Share Sale Offsets Vision Fund’s Loss
SoftBank's Vision Fund continues to suffer from the weakness of tech stocks in its vast portfolio.
ServiceTitan Held Talks to Raise Money at 20% Valuation Cut
The 10-year-old startup had backed away from raising $900 million in expensive, debt-like financing.
Twitter Loses More Top Managers in Mass Exodus
Executives leading security, privacy and trust and safety have all stepped down.
Amazon Eyes Unprofitable Alexa Unit for Cost Cutting
Amazon’s devices unit has posted an operating loss of more than $5 billion annually in recent years
Miami-Dade County Will Explore ‘All Legal Remedies’ if FTX Can’t Pay Arena Deal
FTX agreed to a 19-year, $135 million deal for the naming rights in March of last year.
Sequoia Capital Marks Down FTX Stake to Zero
The collapse of FTX, which has raised nearly $2 billion, has ramifications for investors as well as the broader crypto world.
Roblox Sales Rebound, While Loss Widens on Hiring Costs
The gaming and metaverse platform said bookings, which reflect spending on Roblox’s digital currency, rebounded after falling for two straight quarters.
TSMC to Build Second, More Advanced Factory in Arizona
The move could relieve pressure on consumer electronic giants like Apple, which relies on advanced chips to power the brains of its devices.
Binance Scraps FTX Deal
The planned rescue deal had sent shockwaves through the crypto industry.
Musk Takes Twitter Spaces to Assuage Advertisers
Musk encouraged executives to mirror his own creative use of the platform.
Cameo Lays Off Staff for Second Time This Year
Cameo made its second round of job cuts this year.
Twitter Looks to Become PayPal Rival Processing Crypto and Other Payments
Processing payments could be a new source of revenue under Elon Musk
Binance CEO Says Confidence in Crypto ‘Severely Shaken’ Following FTX Deal
Zhao also shared more details about how the deal with FTX transpired, telling employees there was “no master plan” to acquire FTX.
Meta to Lay Off More Than 11,000 Employees
The company will also extend its hiring freeze into next year, CEO Mark Zuckerberg said in a note to employees.
TikTok Cuts 2022 Ad Sales Outlook to $10 Billion From $12 Billion
TikTok's slashed outlook comes as Meta Platforms and Google are also grappling with a cooling ad market amid a global economic slowdown.
Elon Musk Sells $4 Billion in Tesla Stock
Musk has sold $19 billion in Tesla stock since April when he signed deal to acquire Twitter
Weekday mornings
The Information AM by The Information Staff
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