As FTX faces bankruptcy, an attempt to untangle its extremely complex corporate structure, which could pose a problem for liquidators and law enforcement (Bryce Elder/Financial Times)

Bryce Elder / Financial Times:
Douyin has become China’s fourth biggest e-commerce company by GMV, as short videos prove ideal as bait for long ads by giving higher purchase conversion rates  —  Understanding the appeal of adverts for adverts  —  Once again, very serious people are talking very seriously about the geopolitical threat posed by dance skits.

Bryce Elder / Financial Times:
Adobe’s Figma deal raises big questions about its M&A whack-a-mole strategy in response to free alternatives; the deal is 50x Figma’s reported 2022 ARR of $400M  —  The defining technology merger of 1998 was Microsoft’s purchase of Compu-Global-Hyper-Mega-Net, Homer Simpson’s internet start-up, for an undisclosed price.

Zane Tackett / @tackettzane:
[Thread] FTX’s former Institutional Sales head looks at its balance sheet and options, including bankruptcy or issuing a token, and their pros and cons  —  1/I obviously have 0 say at this point, but hey, interested to hear others’ thoughts: Two options: A) bankruptcy B) token [THESE ARE NOT CONCRETE NUMBERS] Liabilities: -8.8bn Liquid assets: 900m Less liquid: 2.037bn Illiquid: 3.2bn liquid hole: -7.9bn illiquid hole: -2.66bn

Gian M. Volpicelli / Wired:
Law enforcement agents specializing in cryptocurrency investigations are leaving government agencies and joining firms like Binance, Coinbase, and Chainalysis  —  Hunting down crypto criminals is a dying art as law enforcement officers jump in-house.  —  In the course of a decade …

Chris Matthews / MarketWatch:
Lina Khan says she’s “extremely disturbed” by, and looking closely at, Mudge’s claim that Twitter misled the FTC about its compliance with a 2011 consent decree  —  FTC is ‘looking at this closely,’ Khan said  —  Federal Trade Commission Chairwoman Lina Khan said Tuesday she was …

Washington Post:
Sources: US Treasury will warn the White House that cryptocurrencies need major regulations as they pose significant financial risks that outweigh benefits  —  A new assessment from the Biden administration is expected to find that cryptocurrencies pose threats to investors