Welcome to the TechMeme right home for Monday, November 11th, 2024. I'm Brian McCullough today.

FTX is suing basically anybody you can think of. Why will your iPhone now reboot itself if you don't log into it for several days?

Is Open AI's next flagship model underperforming what they were expecting?

And I've found the one

company most disrupted by AI, at least so far. Here's what you miss today in the world of tech.

FTX is suing, well, everybody? Let me run down this list. FtX is suing Binance, the company itself,

but also former CEO, CZ, seeking to claw back almost $1.8 billion. It alleges was

fraudulently transferred by Sam Bankman-Fried in a 2021 deal, quoting Bloomberg.

Binance Zhao and other Binance executives received the funds as part of a July

2021 share purchase deal with Bankman Freed, the FDX co-founder who is now in prison. In that transaction,

they sold stakes of about 20% in FTX's international unit and 18.4% in its U.S.-based entity,

according to a legal filing from the FTX estate on Sunday.

Bankman Freed paid for the stock repurchase using a mix of FTC's exchange token FTT,

and Binance-branded coins, BNB and BUSD, valued at $1.76 billion at the time, according to the filing.

FDX and its sister Trading House Alameda

research, quote, may have been insolvent from inception and certainly were balanced sheet

insolvent by early 2021, the estate said in the filing. As a result, the share repurchased deal

was made fraudulently, it alleged. FDX also accused Zhao of posting a series of, quote, false, misleading, and fraudulent

tweets shortly before FTCS's collapse, the content of which was, quote, maliciously calculated to

destroy his rival. A November 6, 2020 tweet by Zhao stated that Binance intended to sell its FTT

tokens worth some $529 million at the time,

causing withdrawals from the exchange to skyrocket. The claims are meritless, and we will

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