Techmeme
August 5, 2022, 1:25 AM

Top News

Dan Primack / Axios:
Filing: Twitter says Elon Musk's counterclaims “are factually inaccurate, legally insufficient, and commercially irrelevant” and don't justify ending the deal  —  We still don't have Elon Musk's response to Twitter's lawsuit over his efforts to back out of his $44 billion acquisition …
Wall Street Journal:
Tom Warren / The Verge:
CoinDesk:
How crypto developer Ian Macalinao posed as 11 independent devs and created a web of DeFi protocols that temporarily inflated the total value locked on Solana  —  The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain.
Reuters:
As Nancy Pelosi visited Taiwan, cyberattacks from China and Russia increased on the island; some 7-11 store TVs displayed “Warmonger Pelosi, get out of Taiwan!”  —  As U.S. House of Representatives Speaker Nancy Pelosi made a brief visit to Taiwan this week that enraged Beijing …
Michelle Price / Reuters:
Visa and Mastercard end ties with the ad arm of Pornhub owner MindGeek, after a court ruled Visa must face a lawsuit alleging it is liable for CSAM distribution  —  Visa (V.N) and Mastercard (MA.N) on Thursday said they had suspended ties with the advertisement arm of MindGeek …
Nelson Wang / CoinDesk:
Block reports Q2 revenue down 6.6% YoY to $4.4B, $2.62B net revenue excluding bitcoin, and Cash App bitcoin revenue down 34% YoY to $1.79B; stock is down 5%+  —  Despite beating projections, the payments company said its overall revenue fell because of a decrease in bitcoin revenue.
Aisha Malik / TechCrunch:
Clubhouse starts beta testing private communities called Houses, which can be created by a person or group looking for a more intimate alternative to Clubs  —  Clubhouse, the social audio app that rose in popularity amid the pandemic, is looking to shake up its platform with the launch of private communities called “Houses.”
Oliver Knight / CoinDesk:
Meta begins rolling out NFT support on Instagram in 100 countries after launching Coinbase Wallet and Dapper integrations and support for the Flow blockchain  —  Following a series of testing phases, NFT integration is now live on Instagram across 100 countries.
Michael del Castillo / Forbes:
A staff member from Senator Cynthia Lummis' office says the SEC is investigating Binance and every US crypto exchange, including Coinbase  —  Widely circulated reports that the U.S. Securities and Exchange Commission (SEC) is investigating $20 billion crypto exchange Coinbase are just the tip of the iceberg …
Jacquelyn Melinek / TechCrunch:
Kurtosis, a blockchain-focused developer tooling and testing system, raised a $20M Series A led by Coatue, with participation from Coinbase Ventures and others  —  Kurtosis, a crypto-focused developer tool system, has raised $20 million in a Series A round led by tech-focused hedge fund Coatue.
Andrew Hayward / Decrypt:
The Solana Foundation says exploited addresses were “created, imported, or used” in Slope mobile wallets and there's “no evidence” the protocol was compromised  —  Private keys may have been inadvertently compromised as a Solana mobile wallet is fingered for the major network attack.
Jason Nelson / Decrypt:

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Earlier Picks

Phuong Nguyen / Reuters:
Bloomberg:
Chainalysis:
Arjun Kharpal / CNBC:
Antoine Gara / Financial Times:
Bloomberg: