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July 5, 2022, 3:10 PM
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Top News

Foo Yun Chee / Reuters:
EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement  —  EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …
Ryan Browne / CNBC:
Nexo, a crypto lender managing assets for ~4M users, says it signed a term sheet to explore buying Vauld, which halted withdrawals and manages assets for ~100K  —  - Nexo has signed a term sheet with Vauld giving it 60 days of exclusive talks to explore an all-equity acquisition of the company.
Manish Singh / TechCrunch:
Crypto lender and exchange Vauld pauses withdrawals, trading, and deposits and says it's exploring a restructuring, after users withdrew $197.7M+ since June 12
Munsif Vengattil / Reuters:
Source: Twitter is seeking to overturn some Indian government content takedown orders through a judicial review, alleging abuse of power by officials  —  Twitter is seeking to overturn some Indian government orders to take down content, a source familiar with the matter said …
Cristina Criddle / Financial Times:
Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK  —  Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction
Juro Osawa / The Information:
Sources: Sequoia Capital China is about to raise $9B for four new funds, above its $8B+ target, the largest amount raised by a single China tech-focused VC firm  —  Sequoia Capital's Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target …
Taylor Nicole Rogers / Financial Times:
Survey: 25% of Black American investors owned crypto at the start of 2022, compared to 15% of white investors, leaving them vulnerable during the downturn  —  Higher exposure to digital assets leaves owners vulnerable to downturn  —  The widespread losses caused by the cryptocurrency crash are even broader among black investors.
Lucas Shaw / Bloomberg:
Netflix, Amazon, Warner Bros., and others cut costs, staff, movies, and TV shows; the industry released 559 scripted shows in 2021, up by 200+ compared to 2013  —  The sudden decline in Netflix's share price and the growing fear of a recession have forced Hollywood into a new period of fiscal austerity.
Sarah Zheng / Bloomberg:
An unidentified hacker on a forum is selling 23TB+ of allegedly stolen data on up to 1B Chinese residents for 10 BTC, after breaching a Shanghai police database
Bloomberg:
How Ukraine's Kyivstar mobile network stays operational during Russia's invasion, despite killed employees, seized infrastructure, and relentless cyberattacks  —  Employees killed and displaced, infrastructure seized by force and relentless cyberattacks are only a few of the challenges …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 3:10 PM ET, July 5, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

David Bauder / Associated Press:
A look at the work of photographer Ann Hermes, who has documented 50 newsrooms across the US, many in smaller towns and cities, and hopes to photograph 100

Mark Sweney / The Guardian:
BBC News staff are told they face 15% cost cuts, steeper than the 10% shared previously for the corporation as a whole, in the biggest downsizing in 15 years

Deadline:
SAG-AFTRA and AMPTP have “reached a tentative agreement” on terms for a successor contract to their 2023 contracts; the deal is now headed for a board review

More News

Paul MacInnes / The Guardian:
FIFA plans to introduce semi-automated offside technology at the 2022 World Cup with a custom soccer ball and 12 cameras to track 29 points on players' bodies

Earlier Picks

Richard Lai / Engadget:
Xiaomi debuts the 12S Ultra smartphone with a 6.73" AMOLED screen and three rear cameras, including a 50.3MP main camera with a 1-inch sensor, starting at ~$900
Sergiu Gatlan / BleepingComputer:
Google updates Chrome for Windows to address a high-severity zero-day vulnerability exploited by attackers in the wild, its fourth Chrome zero-day patch in 2022
Meir Orbach / CTech:
Source: Celsius laid off 150 employees, around a quarter of its staff, after pausing withdrawals; Celsius is exploring “a restructuring of our liabilities”
Jane Clinton / The Guardian:
The British Army is investigating “a breach” of its Twitter and YouTube accounts, which on July 3 shared crypto scams and misinformation before being restored
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