May 11, 2022, 7:25 AM

Top News

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.
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
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 …
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 …
Stacy-Marie Ishmael / Bloomberg:
Frank Chaparro / The Block:
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:
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.
Leaked proposal: the European Union 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.
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 …
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.
Source: @mingchikuoMore: AppleInsider, The Verge, 9to5Mac, and iMore
Tweets: @mingchikuo, @pt, and @rauschma
Dean Takahashi / VentureBeat:
Unity Software's stock fell 22%+ 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.
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.
Hannah Miller / Bloomberg:
Moralis, which makes tools to build blockchain-based web apps, raises a $40M Series A from Coinbase Ventures and others, sources say at a $215M valuation  —  Despite slumping crypto prices, funding rounds for blockchain startups are still getting done.  Moralis, a platform offering developer tools …
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 …
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.
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 …

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