Techmeme
May 1, 2022, 3:15 PM

Top News

Bloomberg:
Yuga Labs raises ~$320M by selling virtual land in its Otherside metaverse, causing ripple effects across the Ethereum blockchain; gas fees have skyrocketed  —  Yuga Labs, the creator of the popular Bored Apes Yacht Club collection of NFTs, launched a sale Saturday of virtual land related …
Kate Conger / New York Times:
Inside Twitter, frustrations mount over Elon Musk's moderation plans and his limited knowledge, ahead of the Brazil general elections and the US midterms  —  Content moderators warn that Elon Musk doesn't appear to understand the issues that he and the company will face if he drops its guardrails around speech.
Wall Street Journal:
Sources: PayPal Mafia members, Jack Dorsey, and others who disliked Twitter's direction pushed Musk to launch a bid; Musk is dismayed that Trump is still banned  —  Behind the scenes, fellow billionaires and internet provocateurs bent Tesla CEO's ear; Jack Dorsey's role  —  Elon Musk unveils the Tesla Model Y in 2019.
Casey Newton / Platformer:
Abner Li / 9to5Google:
Sources: Google's upcoming Pixel Watch will be powered by a 300mAh battery and will support cellular connectivity  —  While the look of Google's upcoming Wear OS device has thoroughly leaked, many questions about the internal hardware powering it remain.  Sources now tell 9to5Google …
Eric Slivka / MacRumors:
Apple says it will remove apps that haven't been updated in three years and have few downloads from the App Store, extends the time to update from 30 to 90 days  —  Late last week, controversy erupted after Apple began notifying some developers that their apps that had not been updated …
Heather Perlberg / Bloomberg:
New crypto mortgages in the US real estate market let property buyers pledge their digital holdings as collateral for a loan, with no down payments necessary  —  It took Vincent Burniske months to get a seven-figure loan to buy two small apartment buildings in a coveted Miami neighborhood.
Xinmei Shen / South China Morning Post:
Government data: China's internet companies raised $3.51B in Q1 2022, down 76.7% YoY from $15B+, while the number of fundraising deals declined 38.3% YoY  —  Plunge in funding follows an intense period of regulatory action that has targeted some of China's biggest internet companies.
CoinDesk:
DeFi lender Rari Capital, which merged with Fei Protocol in December, loses ~$80M in a hack that exploited a reentrancy vulnerability in Rari's Fuse protocol  —  Decentralized finance (DeFi) platforms Rari Capital and Fei Protocol suffered a more-than-$80 million hack early Saturday.
Kyle Wiggers / TechCrunch:
Adept, which aims to build AI systems that can understand and automate any software process, emerges from stealth with $65M led by Greylock and Addition  —  In 2016 at TechCrunch Disrupt New York, several of the original developers behind what became Siri unveiled Viv, an AI platform …

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Aditya Kalra / Reuters:
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