Techmeme
May 12, 2022, 11:15 AM

Top News

Joanna Ossinger / Bloomberg:
After UST's collapse, most rival algorithmic stablecoins are below the dollar peg; Tether and USDC, the two largest, are mostly holding their dollar peg  —  Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
Andrew Rummer / The Block:
Tether, the largest stablecoin, briefly drops to a 24-hour low of $0.96; Binance USD and USDC are both trading at around $1  —  Quick Take  — Tether dropped below $0.96 on Thursday morning.  — The stablecoin is designed to keep a constant peg with the dollar.
CoinDesk:
Sources: Terraform Labs CEO Do Kwon pseudonymously co-founded Basis Cash, a failed algorithmic stablecoin set up in 2020 that peaked at $174M total value locked  —  Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.
Ryan Browne / CNBC:
Bitcoin dropped below $26,000 for the first time since December 2020, down 15% in 24 hours; Ether dropped as low as $1,720, its lowest level since July 2021  —  - The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.
Financial Times:
Brian Armstrong says there's “no risk of bankruptcy” after Coinbase said in its filing that its users might lose all their crypto if the exchange goes bankrupt  —  Shares in crypto exchange fall 23% after bleak results and new risk disclosure  —  Shares in cryptocurrency exchange …
Adi Robertson / The Verge:
A US appeals court rules 2-1 to let Texas enforce a social media law stopping Twitter, Facebook, and other services with 50M+ users from moderating content  —  A judge blocked a similar law in Florida on First Amendment grounds  —  The controversial Texas social media law HB 20 …
Jay Peters / The Verge:
After mocking Apple for removing the iPhone headphone jack in an August 2021 ad for the Pixel 5a, Google quietly removes the headphone jack on 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 …
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  —  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.
Thomas Stackpole / HBR.org:
Q&A with crypto skeptic Molly White, who runs Web3 Is Going Just Great, on Web3's evolving problems and cultural draw, blockchain privacy 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
Sarah Perez / TechCrunch:
Abner Li / 9to5Google:
Sam Nussey / Reuters:
SoftBank reports a $26.2B full year loss for its Vision Fund unit, leading the group to a $13.15B annual net loss, as stocks decline and inflation rises  —  SoftBank Group Corp (9984.T) reported on Thursday a record loss of $26.2 billion at its Vision Fund unit as the tech conglomerate's portfolio …
Brian Heater / TechCrunch:
Crystal Tse / Bloomberg:
Sources: Instacart confidentially filed documents for an IPO, which could happen as soon as 2022, though the timing could slip or the startup could stay private  —  Instacart Inc., the grocery delivery platform, has confidentially filed documents for an initial public offering, according to people with knowledge of the matter.
Jay Peters / The Verge:
Twitter launches Data Dash, a browser game intended to help explain some of its privacy settings, as part of a bigger push around its rewritten privacy policy  —  Avoid ads and trolls in Twitter Data Dash  —  Twitter released a new browser game on Wednesday that's intended to help explain some of its privacy settings.

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:
5 ways to make your employees feel valued on their work anniversary  —  Taking steps to recognize and celebrate your employees is a surefire way to assure them that they are on the right track.
Storyblok:
The only headless CMS with a visual editor  —  Devs get the flexibility to build experiences for any frontend, while content creators need no coding skills to edit content independently.
Techmeme Ride Home:
Fri. 06/24 - TikTok Turns On The Money Machine
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 11:15 AM ET, May 12, 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

Scott Stein / CNET:
Aaron Gordon / VICE:

Earlier Picks

Brian Heater / TechCrunch:
Stephen Shankland / CNET: