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June 30, 2022, 2:35 AM
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CoinDesk:
Sources: digital asset trading firm Genesis is potentially facing “hundreds of millions” of dollars in losses, partly through exposure to 3AC and Babel Finance  —  The DCG-owned trading colossus is said to have suffered nine-figure losses partly through exposure to Three Arrows Capital and Babel Finance.
Mark Kleinman / Sky News:
Source: a British Virgin Islands court ordered the liquidation of Singapore-based Three Arrows Capital on June 27; Teneo will handle the insolvency process
Steven Ehrlich / Forbes:
After providing $750M in credit lines, Sam Bankman-Fried says some crypto companies are “basically too far gone”, “bearish views on Tether are wrong”, and more
Bloomberg:
EU lawmakers provisionally agree on anti-laundering rules for crypto, requiring verified customer identities for transfers between regulated digital wallets  —  The European Parliament and Council reached a provisional agreement to force crypto providers to provide identifying information …
Nikhilesh De / CoinDesk:
Grayscale Investments sues the US SEC after the agency rejected its application on Wednesday to convert its flagship Grayscale Bitcoin Trust product to an ETF  —  The SEC rejected Grayscale's application to convert its Grayscale Bitcoin Trust to an exchange-traded fund earlier Wednesday.
Sam Biddle / The Intercept:
Docs: Coinbase is selling features of its intelligence-gathering tool Coinbase Tracer to ICE, letting ICE track crypto transactions including bitcoin and ether  —  Coinbase, the largest cryptocurrency exchange in the United States, is selling Immigrations and Customs Enforcement a suite …
Jason Schreier / Bloomberg:
Niantic, the company behind Pokémon Go, lays off 8% of its staff, around 85 to 90 people, and cancels four projects; Niantic was valued at $9B in November 2021  —  Gaming company Niantic Inc., which has struggled to find another big hit following its 2016 game Pokémon Go …
Lawrence Abrams / BleepingComputer:
Firefox now offers a feature to strip some web trackers of Meta, HubSpot, and Marketo from URLs, following similar functionality in Brave  —  Mozilla Firefox 102 was released today with a new privacy feature that strips parameters from URLs that are used to track you around the web.
Ari Notis / Kotaku:
Unity is laying off over 200 people, or 4% of its workforce, two weeks after the CEO said at an all-hands meeting that there won't be any layoffs  —  Management at the company behind the free game development engine has been a ‘shit show’ recently, sources say
Wall Street Journal:
Researchers say some businesses are exaggerating AI's capabilities, brewing misunderstanding and distorting policymakers' views of AI's power and fallibility  —  Google, Meta and OpenAI are investing heavily in the technology, which is increasingly capturing the public imagination
Dan Goodin / Ars Technica:
Researchers detail sophisticated malware targeting various routers and taking over Windows, macOS, and Linux devices, in North America and Europe for ~2 years  —  Router-stalking ZuoRAT is likely the work of a sophisticated nation-state, researchers say.  —  An unusually advanced hacking group …
Moneycontrol:
Sources: Byju's has laid off 1,500+ staff from Toppr and WhiteHat Jr, two companies it acquired in the past two years, and ~1,000 from its core operations teams  —  Byju's has laid off full-time and contractual employees from Toppr, WhiteHat Jr, and its core team across sales and marketing, operations, content and design teams
Aisha Counts / Protocol:
Google Workspace head Javier Soltero, who managed Google's productivity and collaboration tools including Gmail and Meet, is leaving the company on July 15  —  Javier Soltero is leaving Google Workspace, Google Cloud President Thomas Kurian announced Wednesday in an email to staff viewed by Protocol.
Financial Times:
Officials in Zhengzhou, China used the smartphone location tracking-based health code system to stop 1,000+ depositors from protesting over failing rural banks  —  More than two years into the coronavirus pandemic, everyday life for most of China's 1.4bn citizens hinges on the colour of a health code on a smartphone app.
Evelyn Cheng / CNBC:
The FCC's Brendan Carr calls on Apple and Google to remove TikTok from app stores due to China-related security concerns or explain why they haven't by July 8  —  - Brendan Carr, one of the FCC's commissioners, shared Tuesday via Twitter a letter to Apple CEO Tim Cook and Alphabet CEO Sundar Pichai …

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From Mediagazer

Brian Stelter / CNN:
Sources: MSNBC's Morning Joe meeting with Trump was driven by fears of retribution from the incoming administration, including governmental and legal harassment

Sean Burch / The Wrap:
In a statement, Jay Penske says The Hollywood Reporter has replaced co-EIC Nekesa Mumbi Moody with Shirley Halperin, following staff cuts in June and August

Ingrid Lunden / TechCrunch:
Spines, an AI-powered self-publishing service for book authors that provides suggestions on edits, cover design, more, raised a $16M Series A after a $6.5M seed

More News

Allyson Versprille / Bloomberg:
Sources: the Treasury Department and the IRS are likely to postpone a January 2023 starting date for crypto companies to track clients' capital gains and losses
Iain Martin / Forbes:
A look at NGL, an app that lets Instagram users send anonymous DMs, and its content moderation challenges; Data.ai: NGL has 1.75M downloads since November 2021
Stephen Alpher / CoinDesk:
MicroStrategy purchased 480 bitcoins at a $20,817 average price from May 3 to June 28, bringing its holdings to 129,699, acquired for ~$3.98B or $30,664 each

Earlier Picks

Alex Heath / The Verge:
Snap launches Snapchat+, offering exclusive, experimental, and pre-release Snapchat features for $3.99 per month, starting in nine countries
Raymond Wong / Input:
Carl Pei says Nothing phone (1) will use the mid-range Snapdragon 778G+, not the high-end 8 Gen 1, citing a balance of cost, performance, and power consumption
David Yaffe-Bellany / New York Times:
Forbes estimates the 16 richest crypto billionaires lost $59B+ between March and June, led by Binance's Changpeng Zhao, as retail investors suffer heavy losses
Wall Street Journal:
Internal documents from 2021 show Celsius issued large loans backed by little collateral while pitching itself as less risky than a bank with better returns
Patrick McGee / Financial Times:
Some VR developers express frustration with Meta's Quest Store fees, a 30% cut for purchases and 15% to 30% for subscriptions, given Meta's criticism of Apple
Michael Bellusci / CoinDesk:
CoinFlex CEO Mark Lamb says crypto investor Roger Ver owes the exchange $47M in USDC, after Ver denied “some rumors” he defaulted on a debt to a counterparty
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