Techmeme
July 3, 2022, 4:20 PM

Top News

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.
Arthur Hayes / Entrepreneur's Handbook:
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 …
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 …
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.
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.
Ionut Ilascu / BleepingComputer:
HackerOne says an employee stole vulnerability reports submitted through its bug bounty platform and disclosed them to seven companies for financial rewards  —  A HackerOne employee stole vulnerability reports submitted through the bug bounty platform and disclosed them to affected customers to claim financial rewards.
Wall Street Journal:
Sources: Klarna is nearing a deal to raise ~$650M mostly from existing investors led by Sequoia Capital at a ~$6.5B valuation, down from $45.6B in June 2021  —  The deal would be a huge comedown for the company, which investors valued at $45.6 billion in 2021
Mark Gurman / Bloomberg:
As Apple ramped up Mac chip investments, improvements in its other chips slowed down; sources: Apple Watch Series 8 may be able to tell if users have a fever  —  When it comes to Apple's chip advancements, the company's iPhone and watch are taking a back seat to the Mac.
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.
Chance Miller / 9to5Mac:
Biden to award a posthumous Medal of Freedom to Steve Jobs for changing the way the world communicates and transforming the computer, music, and film industries  —  The Biden Administration has announced the recipients of the Presidential Medal of Freedom for this year.
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.

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