Techmeme
June 29, 2022, 10:20 AM

Top News

Mark Kleinman / Sky News:
Source: a British Virgin Islands court ordered the liquidation of Singapore-based Three Arrows Capital on June 27; Teneo Restructuring will handle the process  —  A court in the British Virgin Islands has ordered the liquidation of Singapore-based Three Arrows Capital, underlining …
Steven Ehrlich / Forbes:
After providing $750M in credit lines, Sam Bankman-Fried says some crypto companies are “too far gone” to save, “bearish views on Tether are wrong”, and more  —  After throwing lifelines to troubled digital currency platforms BlockFi and Voyager Digital, Sam Bankman-Fried …
Evelyn Cheng / CNBC:
FCC's Brendan Carr writes to Apple and Google demanding they remove TikTok from app stores over China-related security concerns or provide statements by July 8  —  - Brendan Carr, one of the FCC's commissioners, shared Tuesday via Twitter a letter to Apple CEO Tim Cook and Alphabet CEO Sundar Pichai …
Michael Bellusci / CoinDesk:
CoinFlex CEO Mark Lamb says crypto investor Roger Ver owes CoinFlex $47M in USDC, after Ver denied “some rumors” he defaulted on a debt to a counterparty  —  The crypto exchange is launching a recovery token because of debt owed by a high-net-worth customer.
Bloomberg:
Bloomberg:
Sources: Tesla lays off ~200 Autopilot workers, most of them hourly and focused on labeling data, and closes its San Mateo office, as part of broader reductions  —  Tesla Inc. laid off hundreds of workers on its Autopilot team as the electric-vehicle maker shuttered a California facility, according to people familiar with the matter.
Stephen Alpher / CoinDesk:
MicroStrategy purchased 480 bitcoin at an average of $20,817 each from May 3 to June 28, bringing its total holding to ~130K acquired for $3.98B or $30,664 each  —  The company disclosed the acquisition of another 480 bitcoins, bringing total holdings to 129,699 coins.
Raymond Wong / Input:
Carl Pei says Nothing phone (1) will use the mid-range Snapdragon 778G+, not the high-end 8 Gen 1, citing a need to balance cost, power usage, and performance  —  By the time Nothing's July 12 launch event for the Phone (1) comes around, there won't be much (if anything) left to announce for the transparent Android smartphone.
Wall Street Journal:
Internal Celsius documents from 2021 show the crypto lender issued large loans backed by little collateral while pitching itself as less risky than banks  —  The lender had little cushion in the event of a downturn or mass withdrawals, investor documents show
Jay Peters / The Verge:
Meta tests Discord-like changes in Facebook Groups, adding a channels list in a left-aligned sidebar that can include audio rooms, text chats, and feeds  —  New Groups changes seem inspired directly by Discord  —  Facebook Groups are about to get some big changes, and if you've used Discord …
Andrew Tarantola / Engadget:
NOAA triples its weather modeling capabilities with two supercomputers built by General Dynamics at a cost of $505M, each operating at a speed of 12.1 petaflops  —  Last year, hurricanes hammered the Southern and Eastern US coasts at the cost of more than 160 lives and $70 billion in damages.
Sarah E. Needleman / Wall Street Journal:
Pinterest CEO Ben Silbermann is stepping down and transitioning to executive chairman, to be replaced by Google's president of commerce Bill Ready  —  The social-media company says Ben Silbermann will transition to executive chairman after leading the company since its founding in 2010
David Yaffe-Bellany / New York Times:
Forbes estimates the top 16 crypto billionaires lost $59B+ between March and June, led by Binance's CZ, as retail investors suffer heavy losses amid the rout  —  No cryptocurrency investor has been spared the pain of plunging prices.  But the fallout from more than $700 billion in losses is far from even.
Bloomberg:
A profile of ADT, which is helping sell and install Nest smart home products, as it prepares to unveil its own smart home security software and hardware in 2023  —  Kneeling beneath a framed print of Thomas Kinkade's painting A Peaceful Retreat, Roli Chiu, alarm system installer …
Shannon Liao / Washington Post:
Sony launches InZone, a brand of gaming devices aimed at PC gamers but with tight PS5 integration, starting with 4K and 1080p 27" monitors and three headsets  —  The brand will leverage Sony's high quality display and audio technologies, said Sony home entertainment president Kazuo Kii
Ingrid Lunden / TechCrunch:
London-based Entrepreneur First, which invests in nascent startups, connects co-founders, and offers other support, has raised a $158M Series C  —  Entrepreneur First made a name for itself a decade ago in its home base of London, and then further afield, for the novel approach it takes to tech investing …

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Earlier Picks

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