Techmeme
May 13, 2022, 11:15 AM

Top News

Nivedita Balu / Reuters:
Elon Musk says his Twitter deal is temporarily on hold pending a review of “spam/fake accounts”, but adds he is “still committed to acquisition”; TWTR drops ~9%  —  Elon Musk said on Friday his $44-billion deal for Twitter Inc (TWTR.N) was temporarily on hold, citing pending details on spam and fake accounts.
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 …
@kayvz:
Sunil Jagtiani / Bloomberg:
Terraform Labs halts Terra block production for the second time in 24 hours “to come up with a plan to reconstitute it”, after UST and LUNA collapsed  —  The blockchain behind the collapsed TerraUSD stablecoin and the affiliated Luna token stopped processing new transactions for the second time in less than a day.
Joanna Ossinger / Bloomberg:
Shaurya Malwa / CoinDesk:
Jane Lanhee Lee / Reuters:
Arm reports 2021 revenue rose 35% YoY to $2.7B, driven by licensing, up 61% YoY to $1.13B, and royalties, up 20% YoY to $1.54B; 29.2B ARM chips shipped in 2021  —  SoftBank Group Corp's(9984.T) chip technology firm Arm Ltd on Thursday reported record revenue for 2021, and Chief Executive …
David Ingram / NBC News:
Some local officials have forced schools and libraries to shut down or restrict e-reader apps like Epic and OverDrive after objections by conservative parents  —  E-reader apps that became lifelines for students during the pandemic are now in the crossfire of a culture war raging over books in schools and public libraries.
Yueqi Yang / Bloomberg:
Coinbase's market cap falls to $12.98B from a $75B+ peak in 2021 as its stock closes at $58.50, far below its first day closing price of $328.28 in April 2021  —  Coinbase Global Inc. has declined precipitously this year, largely mimicking the drop in Bitcoin prices and taking its market value …
Washington Post:
Hollywood insiders explain celebrities' decreased interest in Twitter, seen 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 …
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.
Ingrid Lunden / TechCrunch:
UK-based Token.io, an open banking-based account-to-account payments service, raises $40M co-led by Cota Capital and TempoCap  —  The rise of digital payments has changed the nature of how people do business with each other; and open banking — a movement in banking where incumbents …

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