Techmeme: Revolut says it had $361M in 2020 revenue, up 57% YoY, non-adjusted operating loss reached $277M due to staff costs, and retail customers rose 45% to 14.5M (Romain Dillet/TechCrunch)

Open Links In New Tab

Mobile Archives Site News

June 21, 2021, 10:45 AM

Top News

Global Times:

China's Sichuan Province closes crypto mines, following Xinjiang, Inner Mongolia, and Yunnan; an estimated 90% of China's mining capacity has now been shut down — Many Bitcoin mines in Southwest China's Sichuan Province - one of China's largest cryptocurrency mining bases - were closed as of Sunday …

More: Wall Street Journal, Reuters, The Block, Insider, Bloomberg, CoinDesk, Decrypt, TNW, Forbes, Gizmodo, CNBC, Financial Times, Finbold, Bloomberg, Forkast, Bloomberg, Agence France-Presse, Cointelegraph, BitcoinExchangeGuide, The Daily Hodl, New York Post, CNBC, blockchain.news, Cryptonews, Blockonomi, Pandaily, and CoinDesk. Tweets: @rizzn

Coco Feng / South China Morning Post:

As China expands its crackdown on cryptocurrency mining farms, analysis shows the price of GPUs has fallen on many e-commerce platforms in the country — Graphics cards from companies including Nvidia and Asus saw prices fall by as much as two-thirds on e-commerce platforms amid China's …

More: Finbold, The Economic Times, Cointelegraph, Cryptonews, Coinspeaker, blockchain.news, and CoinDesk

Sarah Perez / TechCrunch:

Facebook rolls out Live Audio Rooms, available to verified public figures and select Groups, and its podcast service, available to select partners, in the US — In April, Facebook announced a series of planned investments in new audio products, including a Clubhouse live audio competitor as well as new support for podcasts.

Sami Fathi / MacRumors:

Germany's Federal Cartel Office announces an antitrust investigation into Apple's App Store, pre-installed apps, and more — Germany's Federal Cartel Office, the Bundeskartellamt, today initiated proceedings against Apple on the claims of anti-competitive behavior related to the App Store …

More: Bundeskartellamt, Reuters, Bloomberg, mobilesyrup.com, Silicon Republic, 9to5Mac, TechCrunch, Reuters, AppleInsider, and iMore

Tweets: @samifathi_, @kartellamt, @markscott82, and @markscott82

Richard Pallot / ITV:

Investigation finds Amazon has been destroying thousands of unsold goods at its UK-based Dunfermline warehouse; source says 130K items are destroyed per week — Exclusive: Watch footage showing the ‘destruction zone’ in Amazon's Dunfermline warehouse where millions of unsold items are destroyed every year

More: Insider and ITV

Tweets: @itvnews, @angelarayner, @zarahsultana, @atbwebb, @sam_l_shead, @itvnews, @misszing, @itvnews, @tomwarren, @olifranklin, @alexhern, @janeygodley, @itvnews, and @anneapplebaum

Mary Biekert / Bloomberg:

Securitize, which helps companies issue asset-backed security tokens, raises $48M Series B co-led Morgan Stanley and Blockchain Capital — - Firm gathers $48 million in its Series B fundraising round — Teixeira of Morgan Stanley to join Securitize's board

More: The Block, CoinDesk, Finextra, PR Newswire, Decrypt, and Cointelegraph

Sam Shead / CNBC:

Google says it has decided not to reopen Campus, its London-based startup space, after the pandemic forced it to close — - The Silicon Valley tech giant announced on Monday that it has decided “not to reopen” Campus in East London after it was forced to close by the coronavirus pandemic.

More: Bloomberg, campus.co, Insider, Medium, and TechRadar

Tweets: @googlestartupuk, @nicklevine, @ruskin147, @mikebutcher, @googlestartupuk, @sarahdrinkwater, @googlestartupuk, @googlestartupuk, @sarahdrinkwater, and @jamesliamcook

Romain Dillet / TechCrunch:

Revolut says it had $361M in 2020 revenue, up 57% YoY, non-adjusted operating loss reached $277M due to staff costs, and retail customers rose 45% to 14.5M — Fintech startup Revolut has filed some financial results and is sharing details with the press. In 2020, the company reported $361 million …

More: The Guardian, The Block, Finextra, Sifted, Bloomberg, Coinspeaker, Yahoo Finance, Revolut, CNBC, and Insider

Martin Arnold / Financial Times:

European Central Bank board member says a digital euro will protect consumer privacy and protect the eurozone from the “threat” of competing cryptocurrencies — Fabio Panetta admits some oversight by regulators is necessary to avoid misuse — The introduction of a digital euro …

More: Crypto Briefing, Coinspeaker, CoinDesk, PYMNTS.com, Cointelegraph, and Decrypt

Tweets: @danawrey, @mamdorsky, and @mamdorsky

Douglas Busvine / Reuters:

Forto, a freight forwarding service that gives customers real-time data, raises $240M led by SoftBank's Vision Fund 2 at a $1.2B valuation — Forto has raised $240 million from investors led by Softbank (9984.T), the freight technology startup said on Monday, and will invest in expanding …

More: TechCrunch, PR Newswire, Silicon Canals, Tech News, and Tech.eu

Sarah Frier / Bloomberg:

Real estate mogul Frank McCourt says he plans to invest $100M to build a blockchain-based database of social connections, sidestepping the dominant social apps — Frank McCourt wants to build a blockchain-based alternative to Facebook — Frank McCourt, the billionaire real estate mogul …

More: Decrypt, PR Newswire, Cointelegraph, Coin Journal, CoinDesk, South China Morning Post, and Slashdot

Sam Shead / CNBC:

A look at Founders Forum, the annual UK event branded as the “Davos of tech” attended by Europe's top CEOs and investors from technology and media — - Attendees of the annual Founders Forum event included the former U.K. Prime Minister David Cameron, ex-Finance Minister George Osborne …

More: Beyond Search

Sponsor Posts

Airtable:

Meet Airtable ProductCentral — The unified solution for managing your entire product development process in the AI era.

Tribe AI:

Build AI products that matter — Tribe AI helps organizations rapidly deploy AI solutions that have real business impact. We bring together world class AI talent and tooling to drive differentiated results.

Zoho:

Zoho Forms for successful Black Friday sales — Black Friday is a retail frenzy that can significantly impact your bottom line. To make the most of this shopping bonanza, you need a strategy that not only attracts customers …

Hamming:

Make AI Voice Agents trustworthy — Hamming AI automatically tests AI voice agents and continuously monitors them in production.

Sponsor Techmeme

Who's Hiring In Tech?

Google: Bring questions. Build answers.

Corelight: Disrupt cyberattacks with evidence.

Codeium: Create code for AI that creates code.

Vanta: The leading trust management platform.

Mytra: Software-defined robotics solution.

Abnormal: AI for Human Behavior Security.

Grafana Labs: A leader in OSS observability.

Redpanda: Streaming data platform for devs.

World Labs: A spatial intelligence company.

Cribl: The Data Engine for IT and Security.

Glean: The Work AI platform.

Automattic: 43% down, 57% to go. WordPress.

PayPal: Opening opportunities for all.

Adobe: Let’s create experiences that matter.

Stripe: Help us build universal payments.

Add your company here

Techmeme Ride Home:

Tue 11/05 - Apple: Maybe Smartglasses Are The Way To Go

The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.

Subscribe via Apple Podcasts, Spotify, or RSS.

Sponsor this podcast

About This Page

This is a Techmeme archive page. It shows how the site appeared at 10:45 AM ET, June 21, 2021.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Mandy Dalugdug / Music Business Worldwide:

UMG, ABKCO, and Concord sue Believe and its subsidiary TuneCore for $500M+, alleging Believe built its business via “industrial-scale copyright infringement”

Christopher Palmeri / Bloomberg:

Sources: Shari Redstone does not plan to stay on the board of Paramount Global after the company completes its planned merger with Skydance Media

William Earl / Variety:

Heretic's directors say they put a message in the credits that “no generative AI was used in the making of this film” to warn Hollywood about the danger of AI

More News

Choe Sang-Hun / New York Times:

A look at the huge rise of esports in South Korea, where thousands of young people compete to go pro, and efforts to create sustainable jobs in the industry

Tweets: @sameeryasir, @nytimesbusiness, @almostbernard, and @nytimes

Patrick Shanley / Washington Post:

A look at the future of E3, once the dominant gaming event, as the pandemic, withdrawal of Sony, and rise of competing events has weakened its impact and appeal

More: TechCrunch. Tweets: @launcherwp, @pshanley88, and @pshanley88

Julia Fioretti / Bloomberg:

Sources: Full Truck Alliance, a Chinese Uber-like service for trucks, raises $1.6B after pricing at $19, the top of the range; trading begins today on NYSE

More: Reuters

Stephanie Findlay / Financial Times:

Sources: Indian payments company Paytm is seeking to raise up to $3B in its forthcoming IPO, targeting a valuation of $29B; the company was last valued at $16B

Ax Sharma / BleepingComputer:

Researcher finds iPhone bug that disables wireless functionality after joining a WiFi network called “%p%s%s%s%s%n”; resetting network settings fixes the issue

More: CodeColorist, Macworld, androidauthority.com, Gizmodo, BGR India, Pocketnow, The Hacker News, Gizchina, SlashGear, Ubergizmo, iThinkDifferent, 9to5Mac, phonearena.com, HotHardware.com News, MacRumors, PCMag, BetaNews, ZDNet, Forbes, Wccftech, and Livemint

Tweets: @vm_call, @vm_call, @kennwhite, @insane_irish, @gossithedog, @securestep9, @gossithedog, and @jaimyn_m

Alan Suderman / Associated Press:

Tax experts say that ransomware victims' ransom payments are probably tax deductible in the US, unless they were paid by an insurance company

More: TechRadar. Tweets: @thegrugq, @mikko, @gossithedog, @sosowski, @xamat, and @thegrugq

Brian Heater / TechCrunch:

Wristcam, which makes a $299 Apple Watch band with a camera capable of taking 4K images and recording 1080p video, raises $25M led by Marker LLC

Tweets: @brianfagioli and @daniel_duan. Thanks:@vscpr

Earlier Picks

Dr. Ian Cutress / AnandTech:

Interview with Jim Keller, a chip expert lauded for his work at AMD and Apple, on ARM vs x86 vs RISC-V, managing 1,000 people at Intel, and plans at Tenstorrent

Tweets: @iancutress, @anandtech, @0xcats, and @hkanji. Thanks:@anandtech

Matt Dougherty / KHOU-TV:

Some power companies in Texas are remotely adjusting the smart thermostats of users enrolled in their energy saving programs to reduce strain on power grids

More: XDA Developers, BGR, Protocol, Android Police, KnowTechie, The Verge, SlashGear, Insider, AppleInsider, Gizmodo, USA Today, and Click2Houston.com

Tweets: @dellcam, @dcseifert, @elpasotimes, @erratarob, @apoorv_bh89, @stealthygeek, @vickerysec, @film_girl, @nuclear94, @mollyjongfast, @arvindpawan1, @grantstern, @jgamblin, @natebeachw, @phil_lewis_, and @karlbode

Rita Liao / TechCrunch:

Amber Group, a Hong Kong-based crypto finance startup that provides trading and asset management services, raises $100M Series B at $1B pre-money valuation

More: Blockworks, CNBC, Forkast, Silicon Republic, Bloomberg, CoinDesk, Decrypt, TNW, Coinspeaker, Tech News, and Cointelegraph. Tweets: @_annabellehuang

Wall Street Journal:

Analysts say the dominance of TSMC, which makes ~92% of the world's most sophisticated chips and 60% of chips used in cars, poses risks to the global economy

More: Wall Street Journal. Tweets: @silvermanjacob, @jasonmillerindc, @zackkanter, @djtgallagher, @jchengwsj, @scottlincicome, and @chinarealtime

Ezra Fieser / Bloomberg:

A look at El Zonte, a surfing village in El Salvador dubbed Bitcoin Beach after an anonymous 2019 donation turned it into a controlled alt-currency experiment

Tweets: @andrewrosati, @codinghorror, @apompliano, and @kejalvyas

Christopher Mims / Wall Street Journal:

Pandemic boosted the “phone-ization” of PCs, which are adopting power efficient CPUs and thin designs, a trend which will accelerate with broader adoption of 5G

More: The Overspill. Tweets: @gregorymbryant, @dsilverman, @psb_dc, @parthodasgupta, @onelinders, @stevesi, @mims, and @mims