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Binance's Ongoing' Stress Test' Sees $3B Outflow in 7 Days: Here's Everything That Happened So Far
- Users have been withdrawing massive amounts of funds from Binance, including USD coin (USDC/USD) and other stablecoins. Binance has already seen a net outflow of over $3 billion in crypto assets, in the last seven days, as per Nansen.
- Binance experienced unprecedented withdrawals due to concerns over its proof of reserve report.
- According to blockchain intelligence platform Nansen, net outflows amounted to an eye-watering $902 million in just one day.
- Block Inc (NYSE: SQ) CEO and Twitter co-founder Jack Dorsey addressed Elon Musk's release of "Twitter Files" in a blog post.
- Dorsey named "three principles" that he said he'd come to believe based on his past actions as Twitter CEO and co-founder.
- "The Twitter when I led it and the Twitter of today do not meet any of these principles," said Dorsey in the post without naming the current owner and CEO Musk.
- Tesla Inc (NASDAQ:TSLA) (NASDAQ: TSLA), at long last, seems to have added Apple Inc (NASDAQ:AAPL).'s (NASDAQ: AAPL) Music support to its in-car system.
- Tesla's annual holiday software update has finally filled the absence of Apple Music from the Tesla experience.
- The update is available for all users, but Apple Music subscribers must have a premium connectivity subscription for it to work over a cellular connection.
- Taking a leaf out of Spotify's Playbook, Nintendo Co (TYO:7974) (OTC: NTDOY) Switch now allows users to access their "Nintendo Year in Review 2022."
- Indulging in a popular end-of-year ritual — similar to Spotify Wrapped — Nintendo Switch has enabled players to access a detailed breakdown of what games they played on Switch and for how long.
- Users need to log on to their accounts, and they'll see a report full of metrics.
- The FDA's Cardiovascular and Renal Drugs Advisory Committee voted 8-3 against the approval of Cytokinetics Incorporated's (NASDAQ: CYTK) heart failure drug, omecamtiv mecarbil.
- Adcomm members said the drug's potential benefits did not seem to outweigh its risks, with panel members raising concerns about its safety and limited efficacy.
- Volkswagen AG (OTC: VWAGY) has appointed Michael Mauer to assume the Head of Group Design role while also retaining his position at Porsche (OTC: POAHY) brand.
- Effective January 1, 2023, Mauer will replace Klaus Zyciora, who is leaving the company to pursue tasks outside the Group.
- Stellantis NV (NYSE: STLA) is recalling 1.23 million pickup trucks due to faulty tailgates.
- Stellantis' investigation discovered that tailgate striker plates on certain pickup trucks might not be sufficiently aligned to accommodate complete closure.
- Barclays Plc (NYSE: BCS) has increased its equity capital investment into global climate tech startups from £175 million by 2025 to £500 million by 2027.
- The bank said that the increase in its Sustainable Impact Capital investment mandate reflects the funding needed to continue existing efforts and support new investments.
- The push will focus on carbon capture and hydrogen technologies.
- The U.S. government announced a new purchase agreement for Pfizer Inc (NYSE:PFE)'s (NYSE: PFE) COVID-19 antiviral treatment Paxlovid.
- This purchase supplements the 20 million treatment courses previously contracted by and already delivered to the U.S. Government.
- The additional 3.7 million treatment courses are planned for delivery by early 2023.
Bloomberg
US Reportedly Adding 30 Chinese Chip Companies To Trade Blacklist As Dispute With Xi Jinping's Government Escalates
- As the U.S.-China chip dispute escalates, Washington is reportedly planning to place chip maker Yangtze Memory Technologies and 35 other Chinese companies on its trade blacklist.
- The Joe Biden administration's decision would prevent these Chinese companies from buying certain American components.
- A new lawsuit accused Meta Platforms Inc (NASDAQ: META) of inflaming Ethiopia's civil war by enabling violent and hateful posts to flourish on Facebook.
- The lawsuit — filed by two Ethiopian researchers and the Kenyan rights group Katiba Institute — alleged that Facebook's recommendations systems amplified violent posts in Ethiopia.
Reuters
FTC Dumps Microsoft's Attempt To Clear Antitrust Concerns Over "Call of Duty"
- Microsoft Corp (NASDAQ:MSFT) (NASDAQ: MSFT) President Brad Smith had offered to sign a legally-binding consent decree with the U.S. Federal Trade Commission to provide "Call of Duty" games to rivals, including Sony Group Corp (NYSE: SONY) for a decade.
- The rejected offer came just before the FTC prosecuted Microsoft for blocking the $69-billion takeover bid for video game publisher Activision Blizzard Inc (NASDAQ:ATVI) (NASDAQ: ATVI).
- Boeing Co 's (NYSE: BA) Commercial planes CEO said the company would continue to convince Congress to pass legislation for its 737 MAX 7 and MAX 10 regulatory certification even after the deadline.
- The FAA said that after December 27, "the FAA will cease work on reviews related to the crew alerting system for the 737 MAX-7 and -10 in accordance with our congressional mandate," but did not elaborate.
Wall Street Journal
Instagram Launches Fresh Updates To Win Back Users From BeReal, TikTok
- Meta Platforms Inc (NASDAQ: META) Instagram doled out new ways to share and connect with friends, including one feature resembling the social media app BeReal following young people's exodus to newer apps like BeReal and TikTok.
- They also addressed some recent criticism of overly curated or inauthentic Instagram posts.
- Another Instagram feature, Notes or friend-focused status updates that appeared at the top of the inbox, launched on Tuesday.
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