Techmeme
May 6, 2022, 11:40 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: Insider, BuzzFeed News, CoinDesk, New York Times, Finbold, Bloomberg, New York Times, Wall Street Journal, Financial Times, Protocol, The Block, Bloomberg, Silicon Canals, Grit Capital, VICE, SiliconANGLE, Protocol, Reuters, Bloomberg, TechCrunch, Forbes, DealStreetAsia, Bitcoin News, The Hollywood Reporter, UPI, Junghoon's Direct Media …, Social Media Today, Reuters, The Register, The Mac Observer, Axios, CNN, Ars Technica, BBC, PYMNTS.com, Bloomberg, CNBC, San Francisco Business Journal, Channel Futures, iMore, Crunchbase News, CNBC, iPhone in Canada Blog, Newser, Agence France-Presse, Bloomberg, Bloomberg, Cryptopolitan, Bloomberg, Silicon Republic, TIME, and Cointelegraph
Bloomberg:
Sources: China has ordered government agencies and state-backed companies to replace foreign PCs with domestic ones running local OSes in two years  —  China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within …
Kanishka Singh / Reuters:
SEC says Nvidia has agreed to pay $5.5M to settle charges of “inadequate disclosures” concerning the impact of cryptomining on its gaming business in FY 2018  —  The U.S. Securities and Exchange Commission said Friday it had settled charges against technology company Nvidia Corporation …
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.
Michael Bellusci / CoinDesk:
Block 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 is down 5%+  —  Fintech and digital payments giant Block Inc. (SQ) reported first-quarter earnings that missed analyst expectations on Thursday …
James Clayton / BBC:
The UK's DCMS plans to give the Digital Markets Unit powers to clamp down on Big Tech's “predatory practices”, following reports the UK shelved such plans  —  Large tech companies such as Google and Facebook will have to abide by new competition rules in the UK or risk facing huge fines, the government said.
Bloomberg:
Sources say the UK is delaying Revolut's banking license over concerns about its crypto trading service and whether it can tackle money laundering and fraud  —  Nikolay Storonsky, once a championship swimmer in his native Russia, doesn't like to hang around in the slow lane.

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