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May 11, 2022, 4:25 AM
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| Tim Copeland / The Block: |
Luna and its related UST stablecoin continue to crash; Luna drops to as low as $4.51, an 85% slide in 24 hours, while UST drops to as low as $0.27 — Quick Take — The price of Luna has dropped 82% in the last 24 hours. — Its related stablecoin UST has retreated even further from its dollar peg, falling to just $0.27.
More:
CoinDesk. Tweets: @terrabitespod, @glimmerycoin, @coinmarketcap, @emilyjnicolle, @jay_okx, @xrpcryptowolf, @emperorbtc, @scooterxbt, @whalepanda, @ksicrypto, @themooncarl, @ksicrypto, @haralabob, @lsukernik, @epolynya, @altcoinpsycho, @mhonkasalo, @thecryptodog, @jakubchmielniak, @0x_b1, @davincij15, @0xmisaka, @lawmaster, @thecryptolark, @safetyth1rd, @beniaminmincu, @thinkingusd, @speicherx, @bongcapital, @twobitidiot, @trustlessstate, @cobie, @gfodor, @punk6529, @cobie, @hasufl, @safetyth1rd, @tradermayne, @dystopiabreaker, @drwasho, @punk6529, and @loomdart
| 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
More:
The Block, Crypto Briefing, banking.senate.gov, Bloomberg, U.Today, MarketWatch, CoinDesk, American Banker, FXStreet, and Bitcoin News
Tweets: @ohgodagirl, @onchainwizard, @wublockchain, @wsjmarkets, @wsj, and @tomhschmidt
| Stacy-Marie Ishmael / Bloomberg: |
A look at Do Kwon's algorithmic stablecoin UST, designed to trade at $1 but which has been in freefall; CoinMarketCap says there are 17.8B UST in circulation — Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
More:
Today in Tabs, Wall Street Journal, Attack of the 50 Foot …, Cointext.com, CoinDesk, CryptoPotato, The Merkle News, and Crypto Adventure
Tweets: @stablekwon, @stablekwon, @jonwu_, @el33th4xor, @livercoin, @livercoin, @crypto_mckenna, @sbf_ftx, @sandeepnailwal, @molly0xfff, @crypstax, @bqprime, @crypto, @0x_b1, @lomahcrypto, and @astrabittrading
| Olga Kharif / Bloomberg: |
BAYC, whose average sales price dropped 29% over the past week, and other bluechip NFT collections, have been hit harder than bitcoin amid the crypto rout — Blue-chip NFT collections like Bored Ape Yacht Club, which for a while outperformed the rest of the crypto market …
Tweets: @mattbruenig, @frances_coppola, and @danhowdle
| Frank Chaparro / The Block: |
| Michael D McDonald / Bloomberg: |
More:
Fortune, Financial Times, CryptoSlate, and crypto.news
Tweets: @nayibbukele, @nayibbukele, @stablekwon, @justinsuntron, @nayibbukele, @jonwu_, @namesearch_, and @livfaustdiejung
| 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.
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Apple, Silicon Republic, New York Times, The Register, CNET, The Economic Times, Wall Street Journal, 500ish, Ars Technica, CNN, CNBC, The Overspill, BBC, PCMag, Livemint, TechSpot, PC Gamer, BleepingComputer, Trusted Reviews, MacRumors, The Independent, USA Today, and Stuff
Tweets: @tfadell, @techemails, @reisbaron, @waltmossberg, @xor, @markgurman, @fromedome, @viticci, @mkbhd, @mgsiegler, @johnvoorhees, @marcoarment, @pschiller, @sdw, @counternotions, @keyon, @pierce, @jeffbenjam, @stevekopack, @chancehmiller, @austinnotduncan, @mkbhd, @rdrv3, @stevesi, @reckless, @sdw, @ifixit, @ismh, @ryneismean, @andyjayhawk, @marcoarment, @gruber, @gregjoz, @sumitgouthaman, @starfire2258, @tfadell, @rsgnl, @rsgnl, @neilcybart, @j_schneider, @wongmjane, @stroughtonsmith, @carnage4life, @rsgnl, @richardkerris, @techcrunch, @pschiller, @detroitborg, @anildash, @jsnell, @caseynewton, @lukemiani, @zollotech, @dsilverman, @viticci, @reneritchie, and @tfadell
| 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/...
Source:
YouTube. More:
CNN, CNBC, TechCrunch, Financial Times, Financial Times, TechCircle, SiliconANGLE, Fossbytes, Financial Times, Coinspeaker, Daily Briefing, and Newser
Tweets: @jack, @jack, @alexstamos, @jack, @danprimack, @daveleeft, @benedictevans, @daveleeft, @jack, @karlbode, @dfriedman33, @qwongsj, @arbiebaguios, @seike_kerbera, @michaelemann, @digiphile, @b_fung, @w_terrence, @davidlaz, @ggreenwald, @viacristiano, @donie, @daveleeft, @yashar, @ruskin147, @rmac18, @patrickmcgee_, @alexhern, @patrickmcgee_, @gregkellyusa, @grady_booch, @meyerweb, @ggreenwald, @daveleeft, @pkafka, @tsgiles, @newsm101, @daveleeft, @noupside, @mkibbe, @mmasnick, @peterwsinger, and @danprimack
| MacKenzie Sigalos / CNBC: |
Coinbase Q1: $1.2B net revenue, down from $1.6B YoY, vs $1.5B est., 9.2M MTUs, up from 6.1M YoY, $309B trading volume, down from $335B YoY; stock drops 12%+ — - Coinbase reported first-quarter earnings after the bell on Tuesday. — The earnings come amid a major sell-off across the crypto market.| 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.
More:
AppleInsider, CNN, Tom's Guide, CNBC, Bloomberg, BGR, Neowin, Digiday, Android Central, and Phandroid
Tweets: @shiraovide, @discussingfilm, @jasonealt, @benmullin, @terrajobst, @mattbelloni, @loudmouthjulia, @nytmedia, @dashofdan, and @film_girl
| 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.
More:
PYMNTS.com. Tweets: @erinkwoo, @theryanking, @uticaeric, @kateclarktweets, @nytimestech, @noahpinion, @bizcarson, @sarahhalzack, @mslopatto, @olumuyiwa__, @dealbook, @rmac18, @blowdart, @nbashaw, @bizcarson, @jfberke, @aznfusion, @ceciliakang, @davidenrich, @robinwauters, @lizzieohreally, and @davidfolkenflik
| Rest of World: |
A look at Meta's and Google's subsea cable investments in Africa, the least connected continent, as the companies seek the terrestrial links to a billion users — One sunny Thursday morning in September 2021, three men gathered at the Multimedia University of Kenya, in Nairobi, for a small ceremony.
Tweets: @nnwigene, @khushbuoshea, and @khushbuoshea
| Politico: |
Leaked proposal: the EC plans to release a draft law this week that requires tech companies to scan for CSAM and threatens end-to-end encryption — Brussels is bracing for one of its biggest and most emotional tech fights yet as companies face stringent new rules to clamp down on sexual abuse material.
More:
ComputerWeekly.com, Access Now, Euractiv, and dropsafe
Tweets: @matthew_d_green, @vmanancourt, @matthew_d_green, @chrismessina, @alecmuffett, @sarahjamielewis, @evacide, @accessnow, @mattblaze, @piratkolaja, @matthew_d_green, @mmasnick, @mattblaze, @alecmuffett, @vmanancourt, @piratkolaja, @matthew_d_green, @mattblaze, @mattblaze, @matthew_d_green, @matthew_d_green, @matthew_d_green, @mattblaze, @riana_crypto, @evacide, @matthew_d_green, @elizableu, @alecmuffett, @alecmuffett, and @matthew_d_green
| Jordan Novet / CNBC: |
Roblox misses with Q1 bookings of $631.2M, down 3% YoY, vs. $645M est., 54.1M average DAUs, up 28% YoY, vs. 55M est., $11.67 average bookings per DAU, down 25% — - Roblox reported fewer users in the quarter than analysts had expected, and bookings dropped from a year earlier.| Dean Takahashi / VentureBeat: |
Unity Software's stock fell 28%+ in after-hours trading amid company's lower than expected sales forecasts for Q2 and lower revenue guidance for 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.
More:
MarketWatch and Barron's Online
| Kate Clark / The Information: |
Source: crypto analytics startup Chainalysis raises a $170M Series F led by GIC at an $8.6B valuation, up from $4.2B in June when it raised a $100M Series E — Chainalysis, a startup that sells services to detect and track crypto fraud, has raised a new round at an $8.6 billion valuation …
Tweets: @wublockchain and @kateclarktweets
| David Shultz / Fast Company: |
Osmind, which provides EHR software to chart and update mental health patient information and documents, raises a $40M Series B led by DFJ Growth — As the country continues to struggle with a mental health crisis that's only been exacerbated by the pandemic, electronic health-record startup Osmind …
More:
Business Wire and hitconsultant.net
Tweets: @osmindhq, @fastcompany, @dfjgrowth, and @ycombinator
| Amy Feldman / Forbes: |
Dusty Robotics, whose first robot FieldPrinter automates the process of printing full-size floor plans at construction sites, raises a $45M Series B — Dusty Robotics built an autonomous printer on wheels for construction sites. The company is now worth $250 million.| Devin Coldewey / TechCrunch: |
Brightseed, which develops an AI-based system called Forager to identify and categorize plant compounds for human health, raises a $68M Series B led by Temasek — Who knows what secrets await in the hearts of plants? Brightseed has found a couple of them, anyway, using an AI-based analysis method …
More:
Food Business News, AFN, PRWeb, and San Francisco Business Journal
Tweets: @eleavenworth, @mehabecapital, and @420intel
| Shubham Sharma / VentureBeat: |
Certn, which offers AI-driven tools to conduct background checks and risk monitoring for employees, contractors, and tenants, raises a $50M Series B — Canada-based Certn, a company that provides AI-powered background screening solutions to enterprises, today announced it has raised $50 million …
More:
Certn and Business in Vancouver
Tweets: @vickerysec, @vantechjournal, @scribblevc, @certn, @charlizealcaraz, and @betakit
| Mary Ann Azevedo / TechCrunch: |
Online wholesale marketplace Faire raises a $416M extension, more than doubling the size of its Series G round and boosting its post-money valuation to $12.59B — Faire, which has built a marketplace connecting retailers to indie brands globally, has raised a $416 million extension …
Tweets: @bayareawriter
| Rashi Shrivastava / Forbes: |
Mashgin, which makes computer vision-based touchless self-checkout kiosks, raises a $62.5M Series B led by NEA at a $1.5B post-money valuation — Mashgin's computer vision AI self checkout can scan multiple packaged products as well as food items in a matter of seconds.| Ben Foldy / Wall Street Journal: |
Internal email: Carvana plans to cut ~2,500 workers, or 12% of its workforce, saying it overshot its growth strategy after acquiring car auction site Adesa US — Downsizing comes after company raised billions in new debt with high interest — Online car dealer Carvana Co. CVNA -5.39%▼ … Sponsor Posts
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Los Angeles Times. Tweets: @corintxt, @jshermcyber, @carnage4life, @michaelguimarin, @glynmoody, @natematias, @gunnergale, and @iblametom
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Tweets: @elonmusk, @trussliz, @ale_paulus, @eucouncilpress, @mgerrydoyle, @secblinken, @hatr, @statedeptspox, @campuscodi, and @pwnallthethings