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May 12, 2022, 10:05 PM
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WeSmirchTop News
| Tim Copeland / The Block: |
Terraform Labs resumes Terra block production, with staking disabled, after halting the blockchain “to prevent governance attacks” following LUNA's collapse — Quick Take — Terraform Labs has said the Terra blockchain has been halted. — This is due to concerns …
Source:
@terra_money. More:
Bloomberg, Decrypt, CoinDesk, Cointelegraph, Bitcoin Magazine, The Verge, Decrypt, CoinDesk, Market Meditations, and Web3 is going just great
| Joanna Ossinger / Bloomberg: |
After UST's collapse, most rival algorithmic stablecoins are below their dollar peg; the biggest non-algorithmic stablecoins USDT and USDC are mostly holding — Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
More:
The Independent, Wall Street Journal, CNBC, TechCrunch, CoinDesk, Bankless, Cointelegraph, Bloomberg, Web3 is going just great, VICE, and kyla's Newsletter
Tweets: @stablekwon, @terra_money, @johnbrownlow, @stablekwon, @ariadneconill, @molly0xfff, @lukeisamazing, @mskidchaos, @traderkoz, @kadhim, @jerallaire, @stablekwon, @jqt_galaxe, @davidgerard, @lawmaster, @sbf_ftx, @jemgold_, @katie_martin_fx, @nkulw, @zhusu, @bramcohen, @alexhern, @rekthq, @lawmaster, @tautologicaly, @carnage4life, @lhm1, @sbf_ftx, @kadhim, @macnbtc, @lubchansky, @carnage4life, @lawmaster, @sbf_ftx, @barrysilbert, @thestalwart, @trustlessstate, @timccopeland, @parismarx, @unusual_whales, @lawmaster, @asvanevik, and @crypto
| Shaurya Malwa / CoinDesk: |
Terra's LUNA drops to $0.01, a 99%+ decline in 24 hours, down from $60 earlier this week and $120 in mid-April, after Terra's UST stablecoin lost its dollar peg — LUNA tokens lost 96% in the past 24 hours alone, prompting more to be minted in a mechanism that helped lift the UST price.
More:
Terra Research Forum, Bloomberg, and Financial Times
Tweets: @paoloardoino, @cobie, @ojuice_eth, @kantrowitz, @atari_buzzk1ll, @profjeffjarviss, @mtsw, @iamlluciana, @cobie, and @cobie
| Financial Times: |
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce” — Token's tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
More:
tether.to, CNBC, Life in the 21st Century, Bloomberg, MarketWatch, and بهر …
| @kayvz: |
[Thread] Twitter product chief Kayvon Beykpour says he is leaving at the request of CEO Parag Agrawal, who wants to “take the team in a different direction” — Interrupting my paternity leave to share some final @twitter-related news: I'm leaving the company after over 7 years.
More:
Financial Times, The Verge, New York Times, Platformer, TechCrunch, MobileSyrup, and Variety
Tweets: @kayvz, @caseynewton, @boo, @mikeisaac, @kayvz, @kimmasters, @kayvz, @alex, @rmac18, @reckless, @sal19, @kayvz, @nickstatt, @kurtwagner8, @caseynewton, @samsheffer, @caseynewton, @carnage4life, @karaswisher, @film_girl, @kantrowitz, @jess, @willoremus, @_dml, @chadloder, @willoremus, @karaswisher, @mikeisaac, @financialtimes, @lindseyboylan, @thauburger, @reckless, @meganmorrone, @willoremus, @kantrowitz, @katies, @carnage4life, @caseynewton, @jessicalessin, @kvlly, and @alexrkonrad
| Bloomberg: |
In a memo, Twitter CEO Parag Agrawal announces a hiring freeze and other cost-cutting efforts; VP of product Jay Sullivan will take over as head of product — Twitter Inc. Chief Executive Officer Parag Agrawal announced a hiring freeze and other cost-cutting efforts on Thursday …
More:
New York Times, The Verge, Fox Business, Engadget, Gizmodo, Android Headlines, The Guardian, and CNBC
Tweets: @boo, @boo, @jordanzakarin, @oneunderscore__, @w7voa, @ericajoy, @kantrowitz, @sarthakgh, @gossithedog, and @willoremus
| Veronica Irwin / Protocol: |
Masayoshi Son says SoftBank plans to cut its startup investments by 50%-75% through March 2023, after Vision Fund reported a $20B+ loss for its fiscal year — Japanese conglomerate SoftBank is severely cutting its planned startup investments through next March, Chief Executive Masayoshi Son said in a Thursday earnings call.| Sam Nussey / Reuters: |
| Washington Post: |
Interviews with 17 Hollywood insiders reveal that celebrities view Twitter as a high-risk, low-reward platform, and why Musk's ownership might make it worse — Elon Musk was right that Twitter's most popular accounts have gone quieter over the years. Hollywood insiders explain what happened …
Tweets: @jeffnolan, @theeashleyray, @whereisdaz, @kantrowitz, @lisakayhawes, @nickmartin, @mattnavarra, @karissabe, @triketora, @taylorlorenz, and @willoremus
| Lucas Matney / TechCrunch: |
Ex-Facebook crypto chief David Marcus launches Lightspark, a payments startup building on Bitcoin's Lightning network, backed by a16z, Paradigm, and others — After his departure from Facebook in November, many crypto industry insiders speculated where long-time executive David Marcus would land.
More:
Andreessen Horowitz, The Block, Bloomberg, Matrix Partners Viewpoints, CoinDesk, Finextra, and Crypto Briefing
Tweets: @davidmarcus, @colum, @davidmarcus, @bullyesq, @fehrsam, @jack, @sriramk, @ravmike, @aaronwise5147, @davidmarcus, @mikeisaac, @sriramk, @kantrowitz, @spiritofbitcoin, @mikeisaac, @smtuffy, and @thestalwart
| Lora Kolodny / CNBC: |
In an email, Jason Calacanis says he is “collecting interest to invest in Twitter” as part of Elon Musk's buyout; the minimum investment to participate is $250K — - Jason Calacanis, who's known for early bets on companies like Uber and Robinhood, is pulling together funds …
Tweets: @lorakolodny
| Ryan Browne / CNBC: |
Bitcoin fell below $26K for the first time since December 2020, down 20%+ in a week; ether fell to $1,704, its lowest level since July 2021, down 30%+ in a week — - The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.| David Yaffe-Bellany / New York Times: |
Tweets: @saylor, @tedtalksmacro, @hkanji, @charlesarthur, @flitteronfraud, @nntaleb, @alfonslopeztena, @jamesgleick, and @brentnyt
| Scott Stein / CNET: |
Mark Zuckerberg demos mixed reality on Meta's Project Cambria headset; Meta will enable MR app development for Quest 2 and Cambria via its Presence Platform — A demo of Meta Cambria demonstrates how it blends AR and VR, while Quest 2 headsets could be used to develop apps in the meantime.
Source:
Facebook. More:
YouTube, NBC News, Protocol, Android Central, Digit, The Verge, TechEBlog, Engadget, Road to VR, VRScout, UploadVR, SiliconANGLE, Mashable, and PCMag
Tweets: @meta, @sadlyitsbradley, @metanewsroom, @rengle820, @boztank, @technogoy, @ricmac, @boztank, @ryborggaming, @stevekovach, @jetscott, @lucasmtny, @javierdavalos, @kentbye, @robertjala, @bmfshow, @kentbye, @boztank, @sadlyitsbradley, @ahangarzadeh, @vr_oasis, @cixliv, @jonnyj17, @samred, @yuanruby, @kentbye, @nickstatt, @lisperati, @blakedgross, @vr_sam, @tidefallcapital, and @leaper81
| Tanaya Macheel / CNBC: |
SEC filing: FTX CEO Sam Bankman-Fried bought a 7.6% stake, worth $648M, in Robinhood, calling it “an attractive investment”; stock jumps 20%+ after hours — Sam Bankman-Fried, the CEO of crypto exchange FTX, has taken a 7.6% stake in Robinhood, according to a Thursday filing with the Securities and Exchange Commission.
More:
CoinDesk, Reuters, Decrypt, Bloomberg, Associated Press, Crowdfund Insider, Fortune, MarketWatch, Benzinga, The Block, Wall Street Journal, and Financial Times. Tweets: @epro
| Mahira Dayal / The Information: |
PitchBook: 16 new VC funds with 60%+ female decision makers have raised $4.5B from January to April 2022; women-led funds raised $3.7B in 2021 and $1.8B in 2020 — For years, women-led venture capital funds were the true Silicon Valley unicorns, a rarity in a sector where the vast majority of check writers are men.| Yueqi Yang / Bloomberg: |
Coinbase's market cap falls to $12.98B from a $75B+ peak in 2021 as its stock closes at $58.50, far below its first day closing price of $328.28 in April 2021 — Coinbase Global Inc. has declined precipitously this year, largely mimicking the drop in Bitcoin prices and taking its market value …
More:
Decrypt, The Tokenist, and Associated Press
| Financial Times: |
Source:
@brian_armstrong. More:
The Register, CNN, The Coinbase Blog, Cointelegraph, Insider, and KnowTechie
| David Pierce / The Verge: |
A look at Google's “ambient computing” strategy, a bid to unify its disparate hardware lines, led by the Pixel team, while keeping its Android partners happy — Making ambient computing happen is forcing Google to change how it does everything — The story of this year's Google I/O actually started three years ago.| Lauren Kaori Gurley / VICE: |
Leaked memo: Apple is sending anti-union talking points to US retail store leaders, including that workers could lose “flexibility” and merit-based promotions — Apple is instructing managers to tell retail workers that they could lose benefits and career opportunities if they unionize.
More:
The Verge, Bloomberg, YouTube, AppleInsider, and 9to5Mac
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