All posts tagged: 65B

Alameda had a B line of credit and ‘unlimited withdrawals’

Alameda had a $65B line of credit and ‘unlimited withdrawals’

Published by skeptic

The Sam Bankman-Fried trial gained steam after a somewhat sleepier first half of the day. That’s when prosecutors and the defense asked a witness and former FTX developer about the technical details of the crypto exchange as well as Alameda Research. But that changed around 3 p.m. when FTX co-founder and CTO Gary Wang took the stand, wearing a wrinkled suit. Prior to Wang taking the stand, there was a 15-minute break during which Bankman-Fried looked visibly irritated. Bankman-Fried’s parents were also there. During the break, they went to their son seemingly in an effort to provide support. At one point his father, Joseph Bankman, patted his mother, Barbara Fried, on the back, said something and laughed. She didn’t laugh back but continued to look away toward her son. On the stand, Wang admitted that he committed wire fraud, securities fraud and commodities fraud. He added that Bankman-Fried, Nishad Singh and Caroline Ellison were the individuals he committed the crimes with. Wang, Singh and Ellison pleaded guilty in late December 2022 as part of a …

Even as cloud growth continues to slow, market remains robust in Q2 at B

Even as cloud growth continues to slow, market remains robust in Q2 at $65B

Published by skeptic

Cloud growth has been slowing for a number of reasons this year. Some of it has to do with macroeconomic headwinds causing customers to look to cut their cloud bills, some of it with a maturing market, which comes with an inevitable decline in growth. With the Big 3 cloud vendors — Amazon, Microsoft and Google — reporting Q2 revenues, the quarter showed signs of life, even as AWS growth dropped to 12%. Even with that decline, Synergy Research reports that Amazon, per usual, remains the market leader with little change in its market share numbers, maintaining a hefty lead over its rivals, with a pie that grew by $10 billion compared to last year to almost $65 billion. We’ll get to the details in a moment, but that adds up to over $247 billion for the trailing 12 months, a number so large, it’s actually hard to fathom just how huge this market actually is at present. Synergy’s John Dinsdale says that although the market is slowing a bit, there are signs that it …