FTX 2.0

Hi there, it’s Hannah in San Francisco. FTX could come back (without Sam Bankman-Fried). But first...Three things you need to know today:• A [View in browser]( [Bloomberg]( Hi there, it’s Hannah in San Francisco. FTX could come back (without Sam Bankman-Fried). But first... Three things you need to know today: • Apple will adopt a texting standard, [finally joining Android]( • Lockbit gang revised tactics to [get more ransom money]( • Elon Musk is [facing]( [fallout]( after endorsing antisemitic posts on X WTFTX In [the year]( since FTX filed for bankruptcy, cryptocurrency prices have declined, venture capital to crypto startups has been [drying up](, a [growing list]( of CEOs were arrested, and regulators have been asking more questions. FTX, meanwhile, is looking to make a comeback. The digital currency exchange is considering proposals from [three bidders]( that include the option to reopen trading. A winner is expected to be selected next month. The company, which had more than 9 million customers, could even choose to reboot without a partner. Sam Bankman-Fried, who was [found guilty of fraud]( on Nov. 2, won’t be involved. He’s facing a potential second trial in March for charges that include foreign bribery and campaign finance law violations and is awaiting sentencing for his first criminal convictions, which carry a maximum penalty of over 100 years. In the last era Lamborghinis, yacht parties and multimillion-dollar NFT transactions characterized crypto arrogance. Now it’s the audacity to explore a reintroduction of the disgraced exchange FTX. There are other signs of bullishness in the market. The price of Bitcoin [surpassed $35,000]( last month, the first time that happened since May 2022. Dubai, the European Union, Hong Kong and the UK have fashioned regulatory frameworks that many view as more welcoming to the industry. US regulators could approve the first Bitcoin exchange-traded fund in the next few months. It would take a lot for an FTX plan to be viable. [Customer claims]( total $16 billion. The idea that a revival could attract enough business and generate enough gains to help make up for the lost money is shaky at best, especially since a cryptocurrency recovery is far from assured. But FTX’s creditors have another hope: artificial intelligence. FTX’s investment in the AI startup Anthropic is considered to be one of the company’s most valuable assets. Anthropic received a [financial commitment from Google]( for $2 billion a few weeks ago on top of cash it got from Amazon.com Inc. earlier. The AI boom has ignited hope among creditors that a sale of the stake could generate enough capital for them to be made whole. But private company stock can be tough to sell, and [pinning hope]( on a buzzy startup is really just a gamble of a different kind. —[Hannah Miller](mailto:hmiller129@bloomberg.net) The big story Amazon is trying to convince lawmakers that [Microsoft has locked customers]( into its Azure service, unfairly thwarting rivals. One to watch Watch the Bloomberg Technology TV interview with Menlo Ventures Partner Matt Murphy on [the firm’s $1.35 billion AI fund](. Get fully charged Alibaba called off a spinoff of its giant cloud business, a move [instigated by US curbs]( on advanced chips for China. Watch what happened when Huawei shocked America [with a smartphone](. Israel is deploying high-tech tactics to target [Hamas' miles-long network of underground tunnels](. The two prototype communications satellites launched by Amazon are [still functioning](, the company said. A private investigator received 80 months in jail for [admitting to his role in a massive hacking ring](. More from Bloomberg Get Bloomberg Tech weeklies in your inbox: - [Cyber Bulletin]( for coverage of the shadow world of hackers and cyber-espionage - [Game On]( for reporting on the video game business - [Power On]( for Apple scoops, consumer tech news and more - [Screentime]( for a front-row seat to the collision of Hollywood and Silicon Valley - [Soundbite]( for reporting on podcasting, the music industry and audio trends - [Q&AI]( for answers to all your questions about AI Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Tech Daily newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. [Unsubscribe]( [Bloomberg.com]( [Contact Us]( Bloomberg L.P. 731 Lexington Avenue, New York, NY 10022 [Ads Powered By Liveintent]( [Ad Choices](