May 11, 2022, 12:25 PM

Top News

Tim Copeland / The Block:
LUNA and the UST stablecoin continue to plummet; LUNA dropped as low as $1, a ~97% slide in 24 hours, while UST dropped as low as $0.27, a ~60% fall in 24 hours  —  Quick Take  — The price of Luna has dropped 82% in the last 24 hours.  — Its related stablecoin UST has retreated …
More: Terra Research Forum, The Guardian, The Block, Decrypt, VICE, Bitcoin News, Bloomberg, CoinDesk, The Block, Vlad's dorky crypto newsletter, CryptoPotato, The Merkle News, Crypto Briefing, Wall Street Journal, Fortune, Decrypt, Decrypt, Fortune, CoinDesk, and CoinDesk
Tim Copeland / The Block:
As Luna crashes, Terra Analytics says ~152M LUNA tokens, or 30% of the circulating supply, are being staked, meaning many can't exit their position for weeks  —  Quick Take  — The price of Luna has dropped 93% in the last 24 hours.  — Those who have their Luna tokens staked …
Stacy-Marie Ishmael / Bloomberg:
Frank Chaparro / The Block:
Sami Fathi / MacRumors:
Kuo: Apple will switch to USB-C for the iPhone 15 in the second half of 2023, improving transfer and charging speeds  —  Apple will ditch its proprietary Lightning port and switch to USB-C on all or possibly some models of the iPhone 15 lineup destined to launch in the second half of 2023, Apple analyst Ming-Chi Kuo said today.
James Vincent / The Verge:
The European Union releases plans for regulations that would require tech companies scan for CSAM, worrying privacy experts and threatening E2EE  —  The proposal has been called unworkable and invasive by privacy experts  —  The European Commission has proposed controversial new regulation …
MacKenzie Sigalos / CNBC:
Coinbase drops 20%+ after reporting $1.2B net revenue in Q1, down from $1.6B YoY, 9.2M MTUs, up from 6.1M YoY, and $309B trading volume, down from $335B YoY  —  - Coinbase reported first-quarter earnings after the bell on Tuesday.  — The earnings come amid a major sell-off across the crypto market.
In an interview, Gary Gensler says crypto exchanges are “commingling” services to the detriment of customers and highlights their ties with popular stablecoins  —  Gary Gensler is ratcheting up his criticism of digital-asset exchanges, arguing that some platforms are shirking rules …
Paul Kiernan / Wall Street Journal:
Aisha Malik / TechCrunch:
Twitter announces a “Copypasta and Duplicate Content” policy to clarify how it works to combat spam and duplicative content and what constitutes a violation  —  Twitter announced today that it's rolling out a new “Copypasta and Duplicate Content” policy to clarify how the platform works …
Dave Lee / @daveleeft:
[Thread] In an interview, Musk says Twitter has a “left bias”, he would “literally put” its “algorithm on GitHub”, and he thinks he would reverse Trump's ban  —  Twitter currently the “least bad” public square, @elonmusk says at #FTCar. “In order to be better at that it needs to get rid of the bots, the scams.” Live here:
Matt Schifrin / Forbes:
Chicken Soup for the Soul Entertainment will acquire DVD rental and streaming company Redbox for $375M in an all-stock deal  —  New!  Click on the conversation bubble to join the conversation Got it!  —  Among buggy whip businesses, Redbox Entertainment (RDBX), the Oakbrook Terrace …
Jordan Crook / TechCrunch:
Airbnb releases several updates, including searching by category, the ability to book two listings for stays over one week, and AirCover travel insurance  —  The company wants to get the world traveling again  —  Last year, Airbnb CEO Brian Chesky said that the single-biggest challenge …
Dean Takahashi / VentureBeat:
Unity Software's stock falls 30%+ amid the company's lower than expected sales forecasts for Q2 and lower revenue guidance for the next full-year  —  Unity's stock price fell 28% in after-hours trading after the company reported earnings that met analyst expectations but fell short on the outlook.
Paul Sawers / VentureBeat:
CIQ, which develops the open-source Rocky Linux distro for enterprise, raises a $26M Series A led by Two Bear Capital  —  Sign up here.  —  CIQ, a company that's setting out to commercialize a new open-source Linux distribution and CentOS-successor called Rocky Linux, has raised $26 million in a series A round of funding.

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Brian Heater / TechCrunch: