Techmeme
May 6, 2022, 8:25 AM

Top News

Dan Primack / Axios:
Filing: Elon Musk raises $7.14B for his Twitter bid from Saudi Prince Alwaleed, Larry Ellison, Sequoia, VyCapital, Binance, a16z, and others; Ellison gives $1B  —  Elon Musk on Thursday disclosed a group of co-investors in his Twitter takeover.  The names are impressive, but most of their check sizes aren't.
Source: SEC.govMore: BuzzFeed News, New York Times, Protocol, Bloomberg, Reuters, The Verge, Wall Street Journal, New York Times, Insider, Silicon Republic, Financial Times, VICE, Protocol, Coinspeaker, SiliconANGLE, The Block, Angeline's Thoughts, Bloomberg, TechCrunch, The Information, The Hollywood Reporter, Forbes, Benzinga, DealStreetAsia, Bitcoin News, UPI, Junghoon's Direct Media …, Social Media Today, Reuters, The Register, The Mac Observer, Axios, CNN, Ars Technica, Bloomberg, BBC, PYMNTS.com, San Francisco Business Journal, Channel Futures, iMore, CNBC, Crunchbase News, Bloomberg, iPhone in Canada Blog, Newser, Agence France-Presse, Bloomberg, TIME, Cryptopolitan, Bloomberg, Silicon Republic, and CNBC
New York Times:
Wall Street Journal:
Whistleblowers: Meta deliberately took down Pages for hospitals and other Australian institutions in 2021 as a negotiating tactic over the news bargaining law  —  When Facebook blocked news pages last year to pre-empt Australian legislation that would force it to pay for content …
Ian Sherr / CNET:
Michael Bellusci / CoinDesk:
Block reports Q1 revenue down 22% YoY to $3.96B, vs. $4.1B est., profit up 34% YoY to $1.29B, and Cash App bitcoin revenue down 51% YoY to $1.73B; stock up 5%+  —  Fintech and digital payments giant Block Inc. (SQ) reported first-quarter earnings that missed analyst expectations on Thursday …
Aislinn Keely / The Block:
The CFTC orders BitMEX's three cofounders to pay $10M each for not registering with the agency, and failing to implement anti-money laundering and KYC checks  —  The Commodity Futures Trading Commission (CFTC) has hit the founders of crypto exchange BitMEX with a total of $30 million in civil monetary penalties.
Jordan Novet / CNBC:
Amazon stock closes down ~8%, Meta ~7%, Apple ~6%, Alphabet ~5%, and Microsoft ~4% as a Big Tech selloff pushes the Nasdaq to its steepest drop since June 2020  —  - Cloud and e-commerce stocks were among the biggest losers on Thursday on disappointing earnings reports and after the U.S. central bank raised interest rates.
Aditya Kalra / Reuters:
Sources: An Indian court puts a hold on the Enforcement Directorate's decision last week to seize $725M of Xiaomi's local assets  —  An Indian court has put on hold a federal enforcement agency's decision to seize $725 million from local bank accounts of China's Xiaomi Corp (1810.HK) …

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