Techmeme
May 10, 2022, 5:05 PM

Top News

Brian Heater / TechCrunch:
Apple discontinues the iPod touch, leaving the device on sale “while supplies last” and ending the product line after debuting the original iPod in October 2001  —  Last October marked 20 years of the iPod.  It's a remarkable run in the cutthroat, always-iterating world of consumer electronics.
Stacy-Marie Ishmael / Bloomberg:
A look at Do Kwon's algorithmic stablecoin UST, designed to trade at $1 but which fell as low as $0.60; CoinMarketCap says there is 17.8B UST in circulation  —  Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
Sam Reynolds / CoinDesk:
Binance resumes withdrawals of LUNA and UST tokens after suspending them for about six hours due to a high volume of pending withdrawals and “network slowness”  —  Binance has resumed withdrawals of LUNA and UST tokens after the two tokens crashed on Tuesday on the back of a broader fall in the crypto markets.
Frank Chaparro / The Block:
Sources: Luna Foundation Guard aims to raise $1B+ to shore up its UST stablecoin, now trading at ~$0.92; one deal in negotiations offers LUNA tokens for 50% off  —  Quick Take  — The Luna Foundation Guard has been reaching out to large crypto investors in the hope of raising over $1 billion …
More: Bloomberg
Michael D McDonald / Bloomberg:
New York Times:
Sources: Netflix executives told employees that the company plans to launch its lower-priced ad-supported tier and crack down on password sharing in Q4 2022  —  Executives said they were aiming to introduce an ad-supported, lower-priced subscription tier in the last three months of the year, quicker than originally indicated.
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: https://www.youtube.com/...
James Pearson / Reuters:
The UK and the EU say Russia launched a cyberattack on satellite internet network Viasat in February, taking down tens of thousands of modems at the war's onset  —  Russia was behind a massive cyberattack against a satellite internet network which took thousands of modems offline at the onset …
Laurence Fletcher / Financial Times:
Analysis: Tiger Global has lost about $17B during 2022's tech stock sell-off, erasing in four months around two-thirds of its gains made since its 2001 launch  —  Hedge fund suffers ‘breathtaking’ drop as speculative stocks sink from pandemic peaks  —  Tiger Global has been hit by losses …
New York Times:
Interviews with 50+ people detail the rapid rise of Bolt, which overstated its tech and numbers, as its valuation soared from $250M in 2018 to $11B in 2021  —  The start-up has had a meteoric rise, thanks to its charismatic co-founder, Ryan Breslow.  But he sometimes stretched the truth to get there.
Bloomberg:
Nintendo reports Q4 revenue up 6% YoY to ~$2.9B, profit up 0.6% YoY to $922M, and 4.1M Switch sales, hitting 23.1M total; Nintendo plans to split its stock 10:1  —  Nintendo Co. will split its stock into 10 from October, potentially propping up the shares as the Mario creator struggles …
Steve Dent / Engadget:
Sony reports Q4 gaming revenue rose 0.76% YoY to ~$5.1B; PS5 sales of 2M, down from 3.3M QoQ, hitting 19.3M total, ~3.1M below the PS4 at the same point in time  —  Sony announced that it sold just 2 million PlayStation 5 units last quarter (Q4), bringing its overall total to 19.3 million.
Corin Faife / The Verge:
Eli Tan / CoinDesk:
Co:Create, which helps NFT collections launch their own tokens, raises a $25M seed led by a16z, in the wake of ApeCoin's successful token-tied NFT approach  —  Non-fungible token (NFT) startup Co:Create has raised a $25 million seed round to help NFT collections launch their own tokens …
Paul Kiernan / Wall Street Journal:
US Treasury Secretary Janet Yellen: passing legislation in 2022 to create a stablecoin regulatory framework “would be highly appropriate”, after UST's stumble  —  Treasury secretary expresses hope that Congress will pass legislation this year to create regulatory framework for stablecoins

Sponsor Posts

Intel:
Managing a Complex Multi-Cloud Environment Requires a Reliable Ecosystem  —  To avoid vendor lock-in and effectively manage your mission critical workload needs, you need a reliable ecosystem and architecture
MicroAcquire:
New opportunities are waiting for you  —  Join 100,000+ entrepreneurs buying and selling startups on the world's #1 acquisition marketplace.  Expertly curated to match serious buyers with pre-vetted startups of all sizes.
Zoho:
Handle your voicemails like text using voicemail transcription  —  Imagine your agents busily talking to your customers, with a long list of calls lined up for the day.  While they're clearing each call off their list …
Ortto:
Should you be using a CDP?  —  What is a customer data platform?  How is it different to a CRM and how will it help your business grow?
Techmeme Ride Home:
Wed. 05/25 - Seth Green Wants His Apes Back
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 5:05 PM ET, May 10, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Paul Alcorn / Tom's Hardware:

Earlier Picks

Dan Goodin / Ars Technica:
Thomas Claburn / The Register: