Techmeme
July 26, 2022, 8:50 AM

Top News

Bloomberg:
Sources: before its probe into an alleged insider trading scheme, the SEC started investigating whether Coinbase improperly let Americans trade digital assets  —  Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered …
Travis Clark / Insider:
Scott Rosenberg / Axios:
Facebook's TikTok-like redesign marks the end of a social networking era centered around friends and a move toward algorithmically sorted content from strangers  —  Mark last week as the end of the social networking era, which began with the rise of Friendster in 2003, shaped two decades of internet growth …
Devin Coldewey / TechCrunch:
Jeffrey Dastin / Reuters:
Amazon plans to raise its annual Prime subscription prices across Europe by up to 43% on September 15, citing “increased inflation and operating costs”  —  Amazon.com Inc (AMZN.O) will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year …
Sarah Butler / The Guardian:
Kelcee Griffis / Bloomberg Law:
Apple settles a patent case with Koss, which in July 2020 alleged that Apple's AirPods violate five of Koss' patents; the terms of the deal were not disclosed  —  Apple Inc. dodged a patent-infringement trial over its AirPods after reaching an agreement with headphone maker Koss Corp. to settle the case.
Bloomberg:
UK CMA's publishes its report into music streaming services, saying the market is dominated by major players but this is not “currently causing consumers harm”  —  The music streaming market dominated by a handful of major players is giving consumers a fair shake …
Danny Nelson / CoinDesk:
Binance CEO Changpeng Zhao sues Bloomberg Businessweek's Hong Kong publisher for defamation, claiming a June 23 profile depicted him as running a “Ponzi scheme”  —  It's not the first time Zhao and Binance have sued the media.  —  Binance CEO Changpeng Zhao …
Stephen Shankland / CNET:
Meta, Google, Microsoft, and Amazon join the NIST's push to scrap the leap second, which keeps clocks in sync with the Earth's rotation but can cause glitches  —  Syncing clocks with the Earth's rotation causes more problems than it's worth, according to Google, Meta, Microsoft and Amazon.
Kadhim Shubber / Financial Times:
Lawyers in the Celsius bankruptcy are examining Tether recovering an $840M USDT loan, highlighting an uncertain area of bankruptcy law for crypto companies  —  Case is a major test of how US insolvency rules will apply in digital asset sector  —  Stablecoin issuer Tether faces scrutiny …
Liron Shapira / @liron:
[Thread] A look at Helium, a network of 500K+ crypto mining hotspots, which raised $365M from a16z and others and generates an estimated $6.5K/month in revenue  —  .@Helium, often cited as one of the best examples of a Web3 use case, has received $365M of investment led by @a16z. Regular folks have also been convinced to spend $250M buying hotspot nodes, in hopes of earning passive income. The result? Helium's total revenue is $6.5k/month https://twitter.com/...
Nikhil Krishnan / Out-of-Pocket:
Amazon's purchase of One Medical is likely cheaper than unionization would be, and could be used as a tool to fight against unionization of employees  —  I guess I should say something? … This episode of Out-Of-Pocket is brought to you by...  Nabla creates SDKs and APIs …
Reuters:
Alibaba plans to apply for a primary Hong Kong listing while keeping its NYSE listing, taking advantage of a rule change to attract Chinese tech firms  —  Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes …
Wataru Suzuki / Nikkei Asia:
KPMG: VC investments in China fell to $9.1B in Q2 2022, down from $18.1B in Q1 2022, the lowest quarterly investment since Q4 2014, when $5.5B was invested  —  Decline in VC investments narrows gap between India and Southeast Asia  —  Observers in China are wondering whether a $1.2 billion fine …
More: KPMG and KPMG

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Alex Weprin / The Hollywood Reporter:
Taylor Lorenz / Washington Post:
Joel Rosenblatt / Bloomberg:
Joseph Cox / VICE:
Aisha Malik / TechCrunch:
Yueqi Yang / Bloomberg: