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July 3, 2022, 4:20 PM
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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:
After 3AC's collapse, centralized lenders with exposure to 3AC had failed, while their decentralized counterparts liquidated collateral and continued operating
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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This is a Techmeme archive page. It shows how the site appeared at 4:20 PM ET, July 3, 2022.

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

Benjamin Mullin / New York Times:
Memo: WaPo CEO Will Lewis tells staff they'll be expected to work from the office five days a week, instead of three, by June 2, and by February 3 for managers

Dade Hayes / Deadline:
In an earnings call, David Zaslav says the Trump Administration may be more merger friendly, enabling a “real positive and accelerated impact on this industry”

Taylor Lorenz / User Mag:
How conservatives nurtured and funded a vast network of online influencers and creators, and how structural disadvantages prevent the left from replicating it

More News

Chris Gilliard / Wired:
Machine learning-powered surveillance systems will never eliminate the risk of US school shootings, no matter how expansive and intricate the systems become

Earlier Picks

Jonathan Chadwick / Daily Mail:
Apple will face a trial in the UK after failing to limit a consumer claim that it breached competition law by taking up to a 30% cut on app and in-app purchases
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