Techmeme
May 10, 2022, 4:40 AM

Top News

Bloomberg:
Bitcoin fell ~10% to around $31,000, its lowest level since July 2021, as investors flee riskier investments; Ethereum, Solana, Avalanche, and others also fell  —  Bitcoin rebounded from a swoon below $30,000 as a selloff in stocks moderated and a bout of calm washed across global markets.
Sam Kessler / CoinDesk:
CoinMarketCap: the UST stablecoin loses its USD peg, falling below $0.80, after the Luna Foundation Guard pledges $1.5B of its bitcoin reserves to defend UST  —  TerraUSD (UST) has lost its dollar peg for the second time in three days, falling to as low as $0.95 on Monday …
Sam Reynolds / CoinDesk:
Binance has temporarily suspended withdrawals of LUNA and UST tokens due to a high volume of pending withdrawals and “network slowness and congestion”  —  Binance has suspended withdrawals of LUNA and UST tokens due to “network slowness and congestion.”
Thomas Claburn / The Register:
Study claims the implementation of EU's GDPR has reduced the number of apps on Google Play by a third, increased costs, and reduced revenues for app developers  —  Privacy rules increase cost, reduce choice, slash revenues, study concludes  —  Europe's data protection regime has reduced …
The Information:
Sources: Meta is considering reducing the money it gives news outlets and focusing on news content as short videos on Facebook rather than as links to articles  —  Meta Platforms is considering reducing the money it gives news organizations as it reevaluates the partnerships it struck …
Washington Post:
Researchers: Elon Musk, who vowed to defeat Twitter's “spam bots or die trying”, has long benefited from “fanbots” boosting Tesla shares and deriding critics  —  Mechanized accounts have sought to boost Tesla shares, deride critics and push the pending takeover of Twitter.
Drew Harwell / Washington Post:
Clearview AI reaches a settlement with the ACLU by agreeing to stop selling or offering free access to its facial recognition database to most US businesses  —  The settlement marks one of the most significant court actions yet against a company known for downloading billions of people's photos …
Anushree Dave / The Block:
Mark Zuckerberg says Meta will start letting some US creators test digital collectibles and NFTs on Instagram this week, and won't charge for sharing NFTs  —  Meta will start testing digital collectibles and NFTs on Instagram this week, according to chief executive Mark Zuckerberg.
Tara Deschamps / Canadian Press:
Canada's Competition Bureau files to block Rogers' $26B purchase of Shaw, as the merger would lead to “higher prices, poorer service quality, and fewer choices”  —  The Competition Bureau has filed an application to block Rogers Communications Inc.'s purchase of Shaw Communications Inc …

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Dan Goodin / Ars Technica:
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Earlier Picks

Kenrick Cai / Forbes:
Margaret Harding McGill / Axios:
CNBC:
Yoko Kubota / Wall Street Journal: