Daily Tech News 15 November 2022

• Slowly at first, then all at once: How Sam Bankman-Fried's crypto empire collapsed. (The New York Times)

  FTX and Alameda were closely linked. Alameda traded heavily on the FTX platform, meaning it sometimes benefited when FTX's other customers lost money, a dynamic that critics called a conflict of interest.

  No. A supporter would call it a conflict of interest. A critic would call it fraud.

  Mr. Bankman-Fried moved FTX to the Bahamas in 2021, drawn by a regulatory setup that allowed him to offer risky trading options that weren't legal in the United States. On the exchange, investors could borrow money to make big bets on the future value of cryptocurrencies.

  Margin calls on the the radioactive decay of short-lived isotopes would be a better bet.

  Despite the billions that venture capital firms put into the company, FTX had none of those outside investors on its board.

  Can I have a billion dollars? I promise to return at least 90% of it. WHICH IS MORE THAN FUCKING ZERO WHICH IS ALL YOU IDIOTS DESERVE.
  
  
  
• The entirely predictable collapse of FTX is prompting a long overdue and completely ineffective regulatory response. (CoinDesk)
  
  The article has a link to a podcast episode titled Sam Bankman-Fraud.
  
  
  
• Crypto lender BlockFi says please don't ask for your money back. (Reuters)
  
  Your money is safe. In the Bahamas. Enjoying itself. Without you.

• The world's largest telescope array has just been completed in Tibet and is about to stare straight into the Sun. (Popular Science)
  
  Kids never listen.
  
  
  
• PayPal: If you use your account in ways we don't like, we will steal your money. If you don't use your account we will also steal your money. (PayPal)
  
  Just a little more slowly.
  
  Have a nice day.
  
  
  
• A deep dive on AMD's new RDNA 3 graphics architecture. (Tom's Hardware)
  
  Perfect reading for insomniacs. I love this sort of detail but there's nothing really exciting here.

• So Pipkin Pippa, based rabbit vtuber and all-round chaos magnet, had a stream in which she created an entire imaginary vtuber agency using the NovelAI image generation tool - showing exactly the text prompts she used to get the results she wanted. Helpful if you're new to NovelAI and kind of lost.
  
  
  Two days later all her creations had their own Twitter and YouTube accounts, a corporate presence, and a debut stream.
  
  

  how the fuck https://t.co/ePKnNTLJa8

  — 🥉 Pipkin Pippa 🔌🐰 Phase-Connect (@pipkinpippa) November 15, 2022

  
  
  Humanity had a good run, but now we've been replaced by AI vtubers created as a joke by a cartoon rabbit.

posted by Pixy Misa at 04:00 AM

| Access Comments