Techmeme
May 14, 2022, 2:55 PM

Top News

Edward Ongweso Jr / VICE:
Q&A with retail traders after Terra's crash: some lost their life savings, others shared suicidal ideation on forums, some now acknowledge it's a Ponzi scheme  —  It took less than a week for the third largest stablecoin and its ecosystem to become virtually worthless, wiping out countless traders' savings.
Yogita Khatri / The Block:
Over $1.2B of Luna Foundation Guard's bitcoin reserves remains unaccounted for; LFG had $2B+ in bitcoin reserves and loaned $750M to OTC firms and market makers  —  Quick Take  — Luna Foundation Guard accumulated over $2 billion in bitcoin reserves and provided a loan of $750 million in bitcoin.
Sunil Jagtiani / Bloomberg:
Mike Masnick / Techdirt:
Texas' content moderation law is clearly unconstitutional and forces social media services to allow a torrent of spam or face a deluge of frivolous litigation  —  So, I already had a quick post on the bizarre decision by the 5th Circuit to reinstate Texas' social media content moderation law …
Cat Zakrzewski / Washington Post:
Sohee Kim / Bloomberg:
Sources: Samsung is talking to clients about hiking chipmaking prices by up to 20% in 2022, joining TSMC and UMC, who are planning another round of price hikes  —  Samsung Electronics Co. is talking with foundry clients about charging as much as 20% more for making semiconductors this year …
Taylor Lorenz / Washington Post:
A look at My Friends My Data, a group of startup founders pushing for legislation to force tech giants like Meta to let creators transfer followers between apps  —  A new coalition of start-ups is calling on tech giants to allow creators to reach followers on more platforms.
Nivedita Balu / Reuters:
Source: @elonmusk and @elonmuskMore: Insider, Livemint, Wall Street Journal, The Information, On my Om, The Verge, iPhone in Canada Blog, Washington Post, CNBC, Washington Post, Axios, Bitcoinist.com, BBC, The Economic Times, Neowin, The Guardian, Financial Times, New York Post, New York Times, Axios, Social Media Today, Los Angeles Times, Bloomberg, and Digital Trends
Matt Levine / Bloomberg:
Joshua Oliver / Financial Times:
Interview with Sam Bankman-Fried on the crypto hype, blockchain's potential to build a fairer financial system, philanthropy, and more  —  When an aide told me that “one of our drivers” would pick me up for my lunch with Sam Bankman-Fried, I imagined a hulking black SUV of the kind …
Benjamin Pimentel / Protocol:
A Q&A with SEC commissioner and “Crypto Mom” Hester Peirce, on her criticisms of the SEC's approach to crypto, chairman Gary Gensler's leadership, and more  —  SEC Commissioner Hester Peirce is celebrated in memes as “Crypto Mom.”  She's considered crypto's staunchest ally …
Sam Nussey / Reuters:
Tokyo- and Bangkok-based Opn, formerly Synqa, a digital payments and blockchain tech provider, raises a $120M Series C+ at a $1B+ valuation  —  Digital payments processor Opn, formerly known as Synqa, said it had raised $120 million in a Series C+ funding round, becoming a rare unicorn, or startup worth more than $1 billion, in Japan.
Brian Heater / TechCrunch:
The Economic Times:
Sources: Amazon, Flipkart, and Reliance Retail are in talks to join India's open e-commerce network, which aims to break the dominance of large e-commerce firms  —  Logistics providers Ekart, Dunzo sign up on network; PhonePe in final stages of integration  —  Bengaluru: Ecommerce majors …

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Earlier Picks

Mark Gurman / Bloomberg: