Techmeme
July 2, 2022, 8:40 PM

Top News

Arthur Hayes / Entrepreneur's Handbook:
Jeremy Hill / Bloomberg:
Three Arrows Capital files for Chapter 15 bankruptcy, protecting its US assets from creditors while a British Virgin Islands court carries out a liquidation  —  Crypto hedge fund Three Arrows Capital has filed for Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands.
Michael McSweeney / The Block:
Voyager Digital suspends trading, deposits, withdrawals, and rewards citing market conditions, after issuing a default notice to 3AC in June over a ~$650M loan  —  - “This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” CEO Stephen Ehrlich said in a statement.
Mitchell Clark / The Verge:
Google plans to auto-delete visits to abortion clinics, domestic violence shelters, weight loss centers, and other sensitive places from users' location history  —  Along with visits to other potentially sensitive locations  —  Google says it'll start automatically deleting visits to abortion clinics …
Yiwen Lu / Washington Post:
RadioShack, purchased by private equity firm REV in 2020, reintroduces itself as a crypto exchange trying to attract users with a stream of often profane tweets  —  Gen Z may not be familiar with the RadioShack of their grandparents, but they're getting to know its replacement.
Alex Barinka / Bloomberg:
In a letter to nine GOP senators, TikTok says China-based employees who clear internal security protocols can access certain information on TikTok's US users  —  TikTok, the viral video-sharing app owned by China's ByteDance Ltd., said certain employees outside the US can access information …
Olga Kharif / Bloomberg:
Meta plans to shut down Novi, its digital wallet pilot, on September 1, 2022; users will no longer be able to add money to their accounts starting on July 21  —  The remainder of the cryptocurrency project that Meta Platforms Inc.'s Founder Mark Zuckerberg took a beating over from Congress is officially shutting down.
TechCrunch:
Nelson Rauda Zablah / New York Times:
How El Salvador President Nayib Bukele weaponized bitcoin to whitewash his government's growing authoritarianism on the world stage and spread local propaganda  —  SAN SALVADOR — Bitcoiners — enthusiasts of the world's most popular cryptocurrency — aren't supposed to trust government.
Dan Primack / Axios:
BlockFi agrees to an option to be acquired by FTX for up to $240M, plus a $400M revolving credit facility; BlockFi CEO: “we continue to see a healthy ecosystem”  —  Troubled crypto lender BlockFi said Friday that it agreed to an option to be acquired by FTX for up to $240 million.

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