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Crypto Exchange FTX Spent 74M on Real Estate in the Crypto Exchange FTX Spent 74M on Real Estate in the

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Crypto Exchange FTX Spent $74M on Real Estate in the Bahamas in 2022

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Following the announcement that the FTX Group filed for bankruptcy, investigations began against the managers of the crypto exchange and affiliated companies.

Crypto Exchange FTX Spent $74M on Real Estate in the Bahamas in 2022

According to leaked documents, Sam Bankman-Fried’s FTX exchange accounts held only $900 million in liquid assets, while FTX’s liabilities already exceeded $9 billion the day before the bankruptcy. Financial Times journalists studied balance sheets and talked to several investors who took part in closed negotiations.

As of Nov. 10, the largest portion of FTX’s assets were Robinhood stock, worth $470 million, according to filings. This was not disclosed in the filing for bankruptcy of the group of companies of 134 entities that formed around FTX. The document, provided to potential investors prior to the bankruptcy, provides a detailed picture of the financial hole in the FTX crypto empire and evidence that the exchange’s clients will face multimillion-dollar losses in the assets they held on the exchange.

Now former FTX CEO Sam Bankman-Fried, co-founder Gary Wang and CTO Nishad Singh, based in the Bahamas, are trying to escape to Dubai.

The Block claims that in 2022, the FTX administration spent about $74 million to buy real estate in the Bahamas.

Crypto Exchange FTX Spent $74M on Real Estate in the Bahamas in 2022

According to people familiar with the matter, Alameda Research CEO Caroline Ellison is currently in Hong Kong. She also has the opportunity to go to Dubai.

Dubai is known not only for the fact that the offices of many cryptocurrency platforms are located in this city and world conferences dedicated to blockchain are held in this city. Dubai, as a rule, does not extradite persons who are suspected of financial fraud in other countries. If Sam Bankman-Fried somehow manages to get to the UAE, he is unlikely to be held accountable later.

FTX’s bankruptcy filing provides few details about the group’s financial condition, but notes that assets and liabilities range from “$10 billion to $50 billion” and that the company has more than 100,000 creditors.

A spreadsheet listing the assets and liabilities of FTX International, which came to reporters from the Financial Times, clearly indicates the problems that caused the exchange to collapse. It mentions a withdrawal of $5 billion on November 7, as well as a record of a negative balance of $8 billion in an internal account that does not have a clear and detailed description, except for the comment “[email protected]”.

Bankman-Fried told the FT that the $8 billion related to funds “accidentally” given to his trading firm Alameda, but declined to comment further. He previously wrote on Twitter that FTX had $4 billion in liquid assets when it faced a mass withdrawal of user funds, which he estimated at $5 billion. According to him, one of the the main causes of the liquidity crisis of the stock exchange.

Crypto Exchange FTX Spent $74M on Real Estate in the Bahamas in 2022

Investment filings from FTX Trading, the company behind FTX, show liabilities of $8.9 billion, most of which are US dollar balances of $5.1 billion. The spreadsheet shows that FTX Trading’s assets total $9. .6 billion, but it is unclear how much of that value could be realised.

At the same time, there is not a single Bitcoin on the list, although FTX’s commitment in BTC is $1.4 billion.

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Software

Now Apple Watch Ultra can be used to the fullest. Oceanic+ diving app now available

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Now Apple Watch Ultra can be used to the fullest

Despite the fact that the Apple Watch Ultra has been on sale for some time, only now the watch has received one of the important applications.

Now Apple Watch Ultra can be used to the fullest.  Oceanic+ diving app now available

Apple today announced the launch of Oceanic+. It is this application that actually turns an Apple watch into a diving computer. Since the watch can be submerged to a depth of 40 meters, this is not just marketing.

Interestingly, Apple did not develop the application itself. Even in the press release, the company says that it was created together with Huish Outdoors, which specializes in diving products.

Huish Outdoors specialists note that one of their main tasks was to make the software intuitive and convenient, since diving computers are usually very specific in this matter.

Oceanic+, among other things, allows you, for example, to plan your dive by specifying time, depth and other parameters in advance. The application is able, based on the input data, to calculate the no-decompression time, an indicator used to determine the time limit for a diver at a certain depth. The planner also takes into account diving conditions, including tides, water temperature, and even up-to-date information from the diving community, such as visibility and current strength.

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Electric Cars

Tesla wants to update Model 3, but primarily to reduce production costs

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Tesla wants to update Model 3 but primarily to reduce

Tesla is going to significantly change its bestseller Model 3. But we are talking about classic restyling.

Tesla wants to update Model 3, but primarily to reduce production costs

The project, codenamed Highland, is designed primarily to reduce manufacturing costs, but at the same time, Tesla also wants to focus on features that consumers love.

As one of the directions, the Reuters resource calls the reduction in the number of components and the complexity of the interior of the Model 3. Changes in the design may also take place, but there is no exact data yet. Recall that the Model 3 has been in production for five years, and automakers usually resort to restyling or at least facelift even earlier.

The updated Model 3 will be produced in Shanghai from the third quarter of 2023. Also, production can be established in California.

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Phones

For iPhone 15, Apple will purchase the latest Sony sensors, which have no analogues on the market

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For iPhone 15 Apple will purchase the latest Sony sensors

Sony will supply its state-of-the-art image sensors to Apple, which will be used in the iPhone 15 line of smartphones.

For iPhone 15, Apple will purchase the latest Sony sensors, which have no analogues on the market

The new Sony Semiconductor Solutions sensor has roughly doubled the saturation signal per pixel compared to conventional image sensors. This matches the description of the new technology that Sony talked about last year.

This is the industry’s first multi-layer CMOS sensor. While the photodiodes and pixel transistors of conventional CMOS sensors are formed in the same layer, they are in different layers in the new sensor. This allows you to expand the dynamic range, increase the photosensitivity and reduce the noise level.

Apparently, this technology has not yet found application in any of Sony’s sensors. Whether Apple will be the first to receive such sensors is unknown. It is also unclear whether they will be used in all iPhone 15 or only in older models. Given the trends of recent years, as well as all the rumors about Apple’s intention to separate younger and older iPhones more strongly, it is likely that only older models will get new sensors, or even exclusively iPhone 15 Ultra.

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