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May 12, 2022, 5:30 PM
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WeSmirchTop News
| Joanna Ossinger / Bloomberg: |
After UST's collapse, most rival algorithmic stablecoins are below their dollar peg; the biggest non-algorithmic stablecoins USDT and USDC are mostly holding — Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
More:
The Independent, The Block, CoinDesk, TechCrunch, Wall Street Journal, Cryptopolitan, بهر …, CoinJournal, The Block, CNBC, Bloomberg, Web3 is going just great, Washington Post, Tech Monitor, and VICE
Tweets: @stablekwon, @terra_money, @johnbrownlow, @ariadneconill, @molly0xfff, @lukeisamazing, @kadhim, @mskidchaos, @traderkoz, @jerallaire, @lawmaster, @sbf_ftx, @jemgold_, @katie_martin_fx, @nkulw, @zhusu, @bramcohen, @alexhern, @rekthq, @lawmaster, @tautologicaly, @carnage4life, @lhm1, @sbf_ftx, @kadhim, @macnbtc, @lubchansky, @carnage4life, @lawmaster, @sbf_ftx, @barrysilbert, @thestalwart, @trustlessstate, @timccopeland, @parismarx, @unusual_whales, and @lawmaster
| Tim Copeland / The Block: |
Terraform Labs resumes Terra block production, with staking disabled, after halting the blockchain “to prevent governance attacks” following LUNA's collapse — Quick Take — Terraform Labs has said the Terra blockchain has been halted. — This is due to concerns …
Source:
@terra_money. More:
Bloomberg, The Verge, Decrypt, Decrypt, Protocol, Blockworks, Cointelegraph, Decrypt, CoinDesk, Market Meditations, and Web3 is going just great
| Shaurya Malwa / CoinDesk: |
Terra's LUNA drops to $0.01, a 99%+ decline in 24 hours, down from $60 earlier this week and $120 in mid-April, after Terra's UST stablecoin lost its dollar peg — LUNA tokens lost 96% in the past 24 hours alone, prompting more to be minted in a mechanism that helped lift the UST price.
More:
Terra Research Forum, Bloomberg, and Financial Times
Tweets: @paoloardoino, @cobie, @ojuice_eth, @kantrowitz, @atari_buzzk1ll, @profjeffjarviss, @mtsw, @iamlluciana, and @cobie
| Financial Times: |
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce” — Token's tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
More:
tether.to, CNBC, MarketWatch, CoinDesk, Bloomberg, Fortune, The Economic Times, and Reuters
| @kayvz: |
[Thread] Twitter product chief Kayvon Beykpour says he is leaving at the request of CEO Parag Agrawal, who wants to “take the team in a different direction” — Interrupting my paternity leave to share some final @twitter-related news: I'm leaving the company after over 7 years.
More:
Financial Times, The Verge, New York Times, TechCrunch, CNN, Associated Press, NBC News, Washington Post, Wall Street Journal, and Variety
Tweets: @caseynewton, @boo, @mikeisaac, @kayvz, @_dml, @lindseyboylan, @thauburger, @alex, @rmac18, @reckless, @sal19, @kayvz, @nickstatt, @kurtwagner8, @caseynewton, @samsheffer, @caseynewton, @carnage4life, @karaswisher, @film_girl, @kantrowitz, @jess, @willoremus, @chadloder, @willoremus, @karaswisher, @mikeisaac, @reckless, @meganmorrone, @willoremus, and @kantrowitz
| Bloomberg: |
In a memo, Twitter CEO Parag Agrawal announces a hiring freeze and other cost-cutting efforts; VP of product Jay Sullivan will take over as head of product — Twitter Inc. Chief Executive Officer Parag Agrawal announced a hiring freeze and other cost-cutting efforts on Thursday …
More:
The Verge, New York Times, Gizmodo, Fox Business, Insider, Engadget, Protocol, The Guardian, CNET, The Hill, PCMag, and CNBC
Tweets: @boo, @boo, @jordanzakarin, @w7voa, @ericajoy, @kantrowitz, @sarthakgh, @gossithedog, and @willoremus
| Ryan Browne / CNBC: |
Bitcoin fell below $26K for the first time since December 2020, down 20%+ in a week; ether fell to $1,704, its lowest level since July 2021, down 30%+ in a week — - The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.| David Yaffe-Bellany / New York Times: |
More:
CoinJournal. Tweets: @saylor, @nntaleb, @tedtalksmacro, @charlesarthur, @flitteronfraud, and @alfonslopeztena
| Lucas Matney / TechCrunch: |
Ex-Facebook crypto chief David Marcus launches Lightspark, a payments startup building on Bitcoin's Lightning network, backed by a16z, Paradigm, and others — After his departure from Facebook in November, many crypto industry insiders speculated where long-time executive David Marcus would land.
More:
Andreessen Horowitz, The Block, CoinDesk, Finextra, Protocol, Matrix Partners Viewpoints, and Bitcoin Magazine
Tweets: @spiritofbitcoin, @smtuffy, @sriramk, @mikeisaac, @kantrowitz, @thestalwart, and @mikeisaac
| Scott Stein / CNET: |
Mark Zuckerberg demoes mixed reality on Meta's Project Cambria headset; Meta will enable MR app development for Quest 2 and Cambria via its Presence Platform — A demo of Meta Cambria demonstrates how it blends AR and VR, while Quest 2 headsets could be used to develop apps in the meantime.
Source:
Facebook. More:
YouTube, UploadVR, Protocol, Android Central, SiliconANGLE, Input, TechEBlog, TechCrunch, PCMag, Road to VR, TechRadar, Engadget, The Verge, and Mashable
Tweets: @sadlyitsbradley, @vr_oasis, @technogoy, @kentbye, @kentbye, @kentbye, @ryborggaming, @ahangarzadeh, @robertjala, @metanewsroom, @ricmac, @boztank, @jetscott, @boztank, @nickstatt, @boztank, and @vr_sam
| David Pierce / The Verge: |
A look at Google's “ambient computing” strategy, a bid to unify its disparate hardware lines, led by the Pixel team, while keeping its Android partners happy — Making ambient computing happen is forcing Google to change how it does everything — The story of this year's Google I/O actually started three years ago.| Lauren Feiner / CNBC: |
Twitter's stock closes at $45.08, dropping the company's market cap to $9B below Elon Musk's purchase price of $54.20, amid investors' concerns about the deal — - Twitter shares have fallen to about $46, well below Elon Musk's purchase price of $54.20. — The sell-off has created …
Tweets: @kantrowitz, @levynews, and @jyarow
| Veronica Irwin / Protocol: |
Masayoshi Son says SoftBank will be cutting its startup investments by 50-75% through March 2023, after its Vision Fund unit reported a full-year loss of $20B+ — Japanese conglomerate SoftBank is severely cutting its planned startup investments through next March, Chief Executive Masayoshi Son said in a Thursday earnings call.
More:
Crunchbase News
| Sam Nussey / Reuters: |
More:
Crunchbase News, Financial Times, New York Times, TechCrunch, Moneycontrol, San Francisco Business Journal, Wall Street Journal, and Bloomberg
Tweets: @birdyword, @madhavchanchani, and @birdyword
| Jay Peters / The Verge: |
After mocking Apple for removing the iPhone's headphone jack in an August 2021 ad for the Pixel 5a, Google quietly drops the headphone jack with the Pixel 6a — The Pixel 6A offers a lot of good features, but not a headphone jack — Google just revealed the Pixel 6A at Google I/O on Wednesday …
More:
Insider, The Keyword, Android Authority, Philip Elmer‑DeWitt, iMore, Wccftech, Redmond Pie, and iPhone in Canada Blog
Tweets: @chriswelch, @starfire2258, @jaypeters, @_gbalaji, and @glynmoody
| Thomas Stackpole / HBR.org: |
A Q&A with crypto skeptic Molly White, who runs Web3 Is Going Just Great, on Web3's problems, cultural draw, privacy and potential harassment issues, and more — Welcome to Web3 — What Is Web3? — Why Blockchain's Ethical Stakes Are So High Web3 Will Run on Cryptocurrency What a DAO Can — and Can't — Do
More:
Slate. Tweets: @molly0xfff, @theburningmonk, @marcprecipice, @morganricks1, @carnage4life, @ahcastor, @gergelyorosz, and @molly0xfff
| Washington Post: |
Interviews with 17 Hollywood insiders reveal that celebrities view Twitter as a high-risk, low-reward platform, and why Musk's ownership might make it worse — Elon Musk was right that Twitter's most popular accounts have gone quieter over the years. Hollywood insiders explain what happened …
Tweets: @taylorlorenz, @mattnavarra, @willoremus, @karissabe, and @triketora
| Financial Times: |
Coinbase CEO Brian Armstrong says there's “no risk of bankruptcy” after a company filing said that users could lose all their crypto in “bankruptcy proceedings” — Shares in crypto exchange fall 23% after bleak results and new risk disclosure
Source:
@brian_armstrong. More:
Insider, The Verge, The Coinbase Blog, Cointelegraph, Coinspeaker, KnowTechie, Newser, and HotHardware.com News
Tweets: @sophiamzaller, @ericjackson, @malwarejake, @jac5connor, @zquestz, @johnhopebryant, @midwesthedgie, @takarasmall, @davidgerard, @jonst0kes, @andrewscurria, @lesliepicker, @caseynewton, @readdanwrite, @dgolumbia, @jentaub, @nkulw, @carlquintanilla, @mikebelshe, @bambroughkevin, @autismcapital, and @teroterotero
| Scott Stein / CNET: |
A Q&A with James Park, Fitbit's co-founder and Google's wearables division head, on how the Pixel Watch factors into Fitbit and its future plans, and more — James Park talks to CNET about the Google Pixel Watch, and where Fitbit's vision goes from here. — Scott Stein
More:
The Keyword, The Verge, Softpedia News, The Shortcut, Insider, and TechRadar
| Lauren Kaori Gurley / VICE: |
Leaked memo: Apple is sending anti-union talking points to US retail store leaders, including that workers could lose “flexibility” and merit-based promotions — Apple is instructing managers to tell retail workers that they could lose benefits and career opportunities if they unionize.
More:
9to5Mac. Tweets: @motherboard, @audreyjcarleton, @lorenzofb, @laurenkgurley, @katiedrumm, and @jason_koebler
| Reuters: |
Foxconn reports Q1 net profit rose 5% YoY to ~$985M but warns Q2 revenue could slip due to rising inflation, cooling demand, and escalating supply chain issues — Shovel and FoxConn logo are seen before the arrival of U.S. President Donald Trump for the Foxconn Technology Group groundbreaking ceremony …
| Paul Hill / Neowin: |
Google releases Android 13 Beta 2 with finer privacy controls, an improved Material You theming system, the ability to change the language of each app, and more — At its Google I/O event on Wednesday, Google released the second beta of Android 13. The search giant highlighted several …
More:
The Keyword, Android Developers, Engadget, and Macworld
| Frederic Lardinois / TechCrunch: |
Google and Samsung announce Health Connect, an initiative to simplify connectivity between health and fitness apps and let users share their data across apps — At its Google I/O developer conference, Google and Samsung today announced Health Connect, a new initiative that will simplify …
More:
Android Developers Blog, Sammy Fans, PhoneArena, and Android Headlines
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