Techmeme
June 17, 2022, 1:00 PM

Top News

Serena Ng / Wall Street Journal:
Crypto hedge fund Three Arrows Capital is exploring financial options, including asset sales and a rescue by another firm, and says it invested ~$200M in Luna  —  Firm's founders say they still believe in the future of cryptocurrencies  —  Cryptocurrency-focused hedge fund Three Arrows Capital Ltd …
Financial Times:
Sources: BlockFi was among the groups that liquidated at least some positions held by Three Arrows Capital, which failed to meet margin calls this past weekend  —  BlockFi was among a clutch of firms that liquidated the Singapore-based group's positions  —  Three Arrows Capital failed …
Natasha Lomas / TechCrunch:
The UK publishes its final response to a data reform consultation to diverge from EU rules, including replacing cookie consent pop-ups with browser opt-outs  —  The UK government has published its final response to a data ‘reform’ consultation it kicked off last year, laying out how it intends …
Casey Newton / Platformer:
Bloomberg:
The Verge:
Snap is internally testing Snapchat Plus, a paid subscription service that will give users early access to exclusive, experimental, and pre-release features  —  It's currently in “early internal testing”  —  Snap is doing internal tests of a paid subscription called Snapchat Plus …
Makena Kelly / The Verge:
A group of Senate Democrats calls on the US Commerce Department to follow the EU and create a strategy to require a common charging port for all mobile devices  —  No more Lightning ports?  —  A group of Senate Democrats is calling on the US Commerce Department to follow Europe's lead …
Anton Shilov / AnandTech:
TSMC details its roadmap: a volume 3nm chip production starting this year, with a total of five 3nm-class N3 node iterations, and 2nm chip introduction in 2025  —  Taiwan Semiconductor Manufacturing Co. on Thursday kicked off its 2022 TSMC Technology Symposium, where the company traditionally shares …
Janko Roettgers / Protocol:
Ryan Mac / New York Times:
Sources: SpaceX fired employees who helped write and distribute an open letter calling Elon Musk's behavior “a frequent source of distraction and embarrassment”  —  In an email, Gwynne Shotwell, SpaceX's president, said the letter had made other employees “feel uncomfortable, intimidated and bullied.”
Reuters:
Sources: China's central bank accepted Ant Group's application to set up a financial holding company, a key step in a year-long revamp of the fintech business  —  China's central bank has accepted Ant Group's application to set up a financial holding company, three people with knowledge of the matter said …
More: PingWest
Wall Street Journal:
Sources: Klarna is in talks with investors about funding at a ~$15B valuation, down from its $45.6B valuation in June 2021; source: a deal could yield $500M+  —  The SoftBank-backed, buy-now-pay-later startup is discussing raising cash at a valuation around $15 billion, down from 2021's near $46 billion valuation
Cristina Criddle / Financial Times:
Some UK creators say they abandoned TikTok Shop's e-commerce program due to poor pay, long hours, and having to take flak for limited stock and shipping issues  —  Content creators say ‘livestream’ model means they earn less and now take flak for limited stock and shipping issues
Financial Times:
Blockchain.com data: bitcoin's hash rate fell 4% since the start of the week, as the value of revenues paid to miners fell to its lowest level in nearly a year  —  Share prices of companies that validate crypto transactions have tumbled over the past month  —  Bitcoin miners are scaling …
Oliver Knight / CoinDesk:
Hong Kong-based crypto lender Babel Finance says it has suspended withdrawals and redemptions due to “unusual liquidity pressures”  —  Babel Finance has responded to a market downturn by temporarily freezing withdrawals and redemptions.  —  Hong Kong-based crypto lender Babel Finance …

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