Techmeme
June 20, 2022, 2:25 PM

Top News

Yogita Khatri / The Block:
After suspending withdrawals on June 17, Babel Finance reaches “preliminary agreements on the repayment period of some debts”, helping ease liquidity pressure  —  - Babel Finance says it has reached “preliminary agreements” with major counterparties “on the repayment period of some debts.”
Celsius Blog:
After pausing withdrawals, Swap, and transfers last week, Celsius asks for more time to stabilize its liquidity and operations and halts Twitter Spaces and AMAs  —  It has been one week since we paused withdrawals, Swap, and transfers.  We want our community to know that our objective continues …
Bloomberg:
David Gura / NPR:
FTX CEO Sam Bankman-Fried blames the Federal Reserve's decision to raise interest rates for 2022's crypto crash, resulting in an investor risk “recalibration”  —  Cryptocurrencies are going through a spectacular crash and the head of one of the largest crypto exchanges …
Emily Nicolle / Bloomberg:
Crypto broker Voyager Digital secures a $485M loan from FTX CEO Sam Bankman-Fried's Alameda Research, including $200M credit and 15,000 bitcoins, worth ~$285M  —  Crypto broker Voyager Digital Ltd said it secured loans from Alameda Research, the trading outfit from FTX founder Sam Bankman-Fried …
Adi Robertson / The Verge:
Mark Zuckerberg demos multiple prototype VR headsets from Reality Labs, none of which will ship, as Meta continues working on VR and mixed reality devices  —  Meta's Reality Labs division has revealed new prototypes in its roadmap toward lightweight, hyper-realistic virtual reality graphics.
Vishal Chawla / The Block:
Solend Labs, a “decentralized” borrowing and lending protocol on Solana, overturns a controversial vote to commandeer a whale's account and regain ~5.7M SOL  —  - Solend has invalidated yesterday's controversial DAO decision to take over its largest user account.
Financial Times:
NetEase delays the release of Diablo Immortal after the game's Weibo account shared a reference to Winnie the Pooh, a way to derisively refer to President Xi  —  Cartoon bear is often used to criticise President Xi Jinping and has been blacklisted by censors
ProPublica:
Analysis: despite claiming to reject gun ads, Google accepted ads from 15 top US firearms sellers between March 9 and June 6, generating over 120M impressions  —  ProPublica is a nonprofit newsroom that investigates abuses of power.  Sign up to receive our biggest stories as soon as they're published.
Manish Singh / TechCrunch:
Telegram passes 700M MAUs and unveils Telegram Premium, which will let users follow up to 1,000 channels, send files up to 4GB, and more, for $5 to $6 per month  —  Telegram has amassed 700 million monthly active users and is rolling out a premium tier with additional features …
Elizabeth Dwoskin / Washington Post:
Interviews with members of Peter Thiel's inner circle describe how he came to the decision to leave Meta's board, a departure that was years in the making  —  Inside the billionaire investor's journey from Facebook board member to an architect of the new American right

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Earlier Picks

Dan Seifert / The Verge:
New York Times: