Daily Crunch: 2 former SBF associates plead guilty to fraud and are cooperating with US federal prosecutors

Daily Crunch: 2 former SBF associates plead guilty to fraud and are cooperating with US federal prosecutors

ftx broken on fire

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The weather outside is…entirely dependent upon where you are located, we suppose. Let’s pretend that we are imagining sunshine, beautiful beaches, gentle cooling breezes, and pina coladas for the purposes of this newsletter. — Christine and Haje

The TechCrunch Top Three

  • Surprised, but also not surprised: FTX co-founder Gary Wang and Alameda’s Caroline Ellison plead guilty to criminal charges, Darrell writes.
  • $eeing i$ believing: Twitter is now sourcing stock and cryptocurrency prices from TradingView and automatically displaying them in search results. Ivan shows you how to get them to appear in your next tweet.
  • Another Okta breach: Okta confirmed that it’s responding to another major security incident after a hacker accessed its source code following a breach of its GitHub repositories, Carly reports.

Startups and VC

Text to-image AI was a huge success this year, as technical advancements greatly improved the quality of art AI systems could create. As controversial as systems like Stable Diffusion and OpenAI’s DALL-E 2 are, platforms such as DeviantArt and Canva have adopted them to power creative tools, personalize branding and even ideate new products, writes Kyle as he takes you on a tour through a brief history of diffusion, the tech at the heart of modern image-generating AI.

Speaking of AI, Amanda reports that Unstable Diffusion, a group trying to monetize AI porn generation, raised more than $56,000 on Kickstarter from 867 backers. Then, as Kickstarter changed its thinking about what kind of AI-based projects it will allow, the crowdfunding platform shut down Unstable Diffusion’s campaign.

And in only partially AI news

Avoid 3 common sales mistakes startups make during a downturn

Analysts estimate that IT spending will increase in 2023, but tell that to SaaS sales teams who are trying to close contracts with customers who’ve been instructed to slash spending.

” What every company needs right now is efficient sales,” states Anand Shah, CEO and cofounder of Databook.

In a TC Guest Post, he explains why reacting moves like raising sales quotas and pricing increases are bad moves that won’t move things.

” Make real changes to satisfy your customers’ needs. Use the macroeconomic backdrop to make the necessary sales productivity improvements.”

Two more from the TC group:

TechCrunch is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code “DC” for a 15% discount on an annual subscription!

Big Tech Inc.

Having that ad blocker box pop up when you try to open a new website is annoying, but Zack says we should find the good in it — heck, even the FBI says you should use an ad blocker, he writes. Why? According to reports, cybercriminals are purchasing ads to impersonate legitimate brands such as cryptocurrency exchanges. They are so convincing that it’s difficult to tell if it’s real. Everyone, please be safe!

What do we want? News! News! Now! :

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