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August 5, 2022, 1:25 AM
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Top News

Dan Primack / Axios:
Filing: Twitter says Elon Musk's counterclaims “are factually inaccurate, legally insufficient, and commercially irrelevant” and don't justify ending the deal  —  We still don't have Elon Musk's response to Twitter's lawsuit over his efforts to back out of his $44 billion acquisition …
Wall Street Journal:
Because Elon Musk was acquiring Twitter as an individual, experts say Twitter subpoenaing his friends and advisers could yield decisive information for its case
Tom Warren / The Verge:
Microsoft starts testing an Xbox Game Pass family plan in Colombia and Ireland, letting users add up to four people in the same country to their subscription
CoinDesk:
How crypto developer Ian Macalinao posed as 11 independent devs and created a web of DeFi protocols that temporarily inflated the total value locked on Solana  —  The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain.
Reuters:
As Nancy Pelosi visited Taiwan, cyberattacks from China and Russia increased on the island; some 7-11 store TVs displayed “Warmonger Pelosi, get out of Taiwan!”  —  As U.S. House of Representatives Speaker Nancy Pelosi made a brief visit to Taiwan this week that enraged Beijing …
Michelle Price / Reuters:
Visa and Mastercard end ties with the ad arm of Pornhub owner MindGeek, after a court ruled Visa must face a lawsuit alleging it is liable for CSAM distribution  —  Visa (V.N) and Mastercard (MA.N) on Thursday said they had suspended ties with the advertisement arm of MindGeek …
Nelson Wang / CoinDesk:
Block reports Q2 revenue down 6.6% YoY to $4.4B, $2.62B net revenue excluding bitcoin, and Cash App bitcoin revenue down 34% YoY to $1.79B; stock is down 5%+  —  Despite beating projections, the payments company said its overall revenue fell because of a decrease in bitcoin revenue.
Aisha Malik / TechCrunch:
Clubhouse starts beta testing private communities called Houses, which can be created by a person or group looking for a more intimate alternative to Clubs  —  Clubhouse, the social audio app that rose in popularity amid the pandemic, is looking to shake up its platform with the launch of private communities called “Houses.”
Oliver Knight / CoinDesk:
Meta begins rolling out NFT support on Instagram in 100 countries after launching Coinbase Wallet and Dapper integrations and support for the Flow blockchain  —  Following a series of testing phases, NFT integration is now live on Instagram across 100 countries.
Michael del Castillo / Forbes:
A staff member from Senator Cynthia Lummis' office says the SEC is investigating Binance and every US crypto exchange, including Coinbase  —  Widely circulated reports that the U.S. Securities and Exchange Commission (SEC) is investigating $20 billion crypto exchange Coinbase are just the tip of the iceberg …
Jacquelyn Melinek / TechCrunch:
Kurtosis, a blockchain-focused developer tooling and testing system, raised a $20M Series A led by Coatue, with participation from Coinbase Ventures and others  —  Kurtosis, a crypto-focused developer tool system, has raised $20 million in a Series A round led by tech-focused hedge fund Coatue.
Andrew Hayward / Decrypt:
The Solana Foundation says exploited addresses were “created, imported, or used” in Slope mobile wallets and there's “no evidence” the protocol was compromised  —  Private keys may have been inadvertently compromised as a Solana mobile wallet is fingered for the major network attack.
Jason Nelson / Decrypt:
An unknown attacker has been emptying Solana and USDC wallets; Solscan says over 15K wallets have been affected, draining $4.46M, primarily in SOL and USDC

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 1:25 AM ET, August 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

Alex Ritman / Variety:
In Channel 4's 2025 Alternative Christmas Message, Jimmy Kimmel said “tyranny is booming” in the US and, on his ABC suspension, “We won, the president lost”

Daniel Thomas / Financial Times:
As the BBC fights Trump's $10B lawsuit and ITV plans to combine its broadcasting business with Sky in 2026, a look at the slow death of the UK's TV channels

Henry Blodget / Regenerator:
Bari Weiss' 60 Minutes decision may have been a way to both signal that she's serious about shifting CBS' sensibility to the right and “improve” a story

More News

Reuters:
Sources: Tencent plans to raise its Ubisoft stake, aiming to become its single largest shareholder, after buying a 5% stake in 2018; Ubisoft's stock jumps 10%+
Bloomberg:
Meta is selling US corporate bonds for the first time; source: the bond sale may be between $8B and $10B, in as many as four parts

Earlier Picks

Phuong Nguyen / Reuters:
Some Samsung workers at a major smartphone factory in Vietnam say business is not good and the company is cutting production, as global electronics demand slows
Bloomberg:
BlackRock partners with Coinbase to help institutional investors manage and trade crypto, starting with BTC, using BlackRock's Aladdin system; COIN jumps 10%+
Chainalysis:
Analysis: attackers have stolen $2B in crypto from cross-chain bridges across 13 hacks so far in 2022, accounting for 69% of total funds stolen
Arjun Kharpal / CNBC:
Alibaba beats with Q1 revenue of $30.69B, vs $30.33B, its first-ever flat quarter, $3.03B net income, and Cloud revenue up 10% YoY to $2.64B; stock up 5%+
Antoine Gara / Financial Times:
Investor letter: Tiger Global's long-only fund ended Q2 2022 down 63.6% and its flagship fund fell 50% in H1, after it “underestimated the impact” of inflation
Bloomberg:
Interviews with 60+ people detail the implosion of Zilingo, valued at $1.2B in March 2022, and how the fashion startup struggled under CEO Ankiti Bose for years
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