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May 12, 2022, 6:35 PM
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WeSmirchTop News
| Tim Copeland / The Block: |
Terraform Labs resumes Terra block production, with staking disabled, after halting the blockchain “to prevent governance attacks” following LUNA's collapse — Quick Take — Terraform Labs has said the Terra blockchain has been halted. — This is due to concerns …
Source:
@terra_money. More:
Decrypt, The Verge, Bloomberg, Decrypt, Protocol, Blockworks, Cointelegraph, Decrypt, CoinDesk, Market Meditations, and Web3 is going just great
| Joanna Ossinger / Bloomberg: |
After UST's collapse, most rival algorithmic stablecoins are below their dollar peg; the biggest non-algorithmic stablecoins USDT and USDC are mostly holding — Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
More:
The Independent, The Block, CoinDesk, Wall Street Journal, TechCrunch, Bankless, Evolution Bitcoin, CNBC, The Block, Bloomberg, Web3 is going just great, Washington Post, Tech Monitor, and VICE
Tweets: @stablekwon, @terra_money, @johnbrownlow, @ariadneconill, @molly0xfff, @lukeisamazing, @kadhim, @mskidchaos, @traderkoz, @jerallaire, @davidgerard, @lawmaster, @sbf_ftx, @jemgold_, @katie_martin_fx, @nkulw, @zhusu, @bramcohen, @alexhern, @rekthq, @lawmaster, @tautologicaly, @carnage4life, @lhm1, @sbf_ftx, @kadhim, @macnbtc, @lubchansky, @carnage4life, @lawmaster, @sbf_ftx, @barrysilbert, @thestalwart, @trustlessstate, @timccopeland, @parismarx, @unusual_whales, and @lawmaster
| Shaurya Malwa / CoinDesk: |
Terra's LUNA drops to $0.01, a 99%+ decline in 24 hours, down from $60 earlier this week and $120 in mid-April, after Terra's UST stablecoin lost its dollar peg — LUNA tokens lost 96% in the past 24 hours alone, prompting more to be minted in a mechanism that helped lift the UST price.
More:
Terra Research Forum, Bloomberg, and Financial Times
Tweets: @paoloardoino, @cobie, @ojuice_eth, @kantrowitz, @atari_buzzk1ll, @profjeffjarviss, @mtsw, @iamlluciana, and @cobie
| Financial Times: |
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce” — Token's tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
More:
tether.to, CNBC, بهر …, MarketWatch, CoinDesk, Bloomberg, Fortune, The Economic Times, and Reuters
| @kayvz: |
[Thread] Twitter product chief Kayvon Beykpour says he is leaving at the request of CEO Parag Agrawal, who wants to “take the team in a different direction” — Interrupting my paternity leave to share some final @twitter-related news: I'm leaving the company after over 7 years.
More:
Financial Times, The Verge, New York Times, TechCrunch, CNN, NBC News, Associated Press, Washington Post, Wall Street Journal, and Variety
Tweets: @caseynewton, @boo, @mikeisaac, @kayvz, @_dml, @lindseyboylan, @thauburger, @alex, @rmac18, @reckless, @sal19, @kayvz, @nickstatt, @kurtwagner8, @caseynewton, @samsheffer, @caseynewton, @carnage4life, @karaswisher, @film_girl, @kantrowitz, @jess, @willoremus, @chadloder, @willoremus, @karaswisher, @mikeisaac, @financialtimes, @reckless, @meganmorrone, and @willoremus
| Bloomberg: |
In a memo, Twitter CEO Parag Agrawal announces a hiring freeze and other cost-cutting efforts; VP of product Jay Sullivan will take over as head of product — Twitter Inc. Chief Executive Officer Parag Agrawal announced a hiring freeze and other cost-cutting efforts on Thursday …
More:
The Verge, New York Times, Gizmodo, Fox Business, Insider, Protocol, Engadget, The Guardian, CNET, The Hill, and CNBC
Tweets: @boo, @oneunderscore__, @boo, @jordanzakarin, @w7voa, @ericajoy, @kantrowitz, @sarthakgh, @gossithedog, and @willoremus
| Ryan Browne / CNBC: |
Bitcoin fell below $26K for the first time since December 2020, down 20%+ in a week; ether fell to $1,704, its lowest level since July 2021, down 30%+ in a week — - The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.
More:
Wall Street Journal, Forbes, Fortune, Bloomberg, crypto.news, Reuters, Mercury News, CoinDesk, Financial Times, TheGamer, Cointelegraph, SlashGear, and beToken my Friend EN
Tweets: @binanceus, @_megconley, @_rachelbraun, @carnage4life, @karlbode, @ashwsbreal, @cobie, @ldignan, @lopp, @lionelralaurent, @thekouk, @carnage4life, @grady_booch, and @lorenasgonzalez
| David Yaffe-Bellany / New York Times: |
More:
CoinJournal. Tweets: @saylor, @jamesgleick, @hkanji, @nntaleb, @tedtalksmacro, @charlesarthur, @flitteronfraud, and @alfonslopeztena
| Veronica Irwin / Protocol: |
Masayoshi Son says SoftBank plans to cut its startup investments by 50%-75% through March 2023, after Vision Fund reported a $20B+ loss for its fiscal year — Japanese conglomerate SoftBank is severely cutting its planned startup investments through next March, Chief Executive Masayoshi Son said in a Thursday earnings call.| Sam Nussey / Reuters: |
| Lauren Feiner / CNBC: |
Twitter's stock closes at $45.08, dropping the company's market cap to $9B below Elon Musk's purchase price of $54.20, amid investors' concerns about the deal — - Twitter shares have fallen to about $46, well below Elon Musk's purchase price of $54.20. — The sell-off has created …
Tweets: @kantrowitz, @levynews, and @jyarow
| Scott Stein / CNET: |
Mark Zuckerberg demoes mixed reality on Meta's Project Cambria headset; Meta will enable MR app development for Quest 2 and Cambria via its Presence Platform — A demo of Meta Cambria demonstrates how it blends AR and VR, while Quest 2 headsets could be used to develop apps in the meantime.
Source:
Facebook. More:
YouTube, NBC News, Protocol, Android Central, UploadVR, SiliconANGLE, TechEBlog, Input, TechRadar, Engadget, Road to VR, The Verge, Mashable, and PCMag
Tweets: @sadlyitsbradley, @sadlyitsbradley, @cixliv, @blakedgross, @leaper81, @lucasmtny, @lucasmtny, @jonnyj17, @javierdavalos, @yuanruby, @samred, @lisperati, @mikkoh, @vr_oasis, @technogoy, @kentbye, @kentbye, @kentbye, @ryborggaming, @ahangarzadeh, @robertjala, @metanewsroom, @ricmac, @boztank, @jetscott, @bmfshow, @boztank, @nickstatt, and @boztank
| Lucas Matney / TechCrunch: |
Ex-Facebook crypto chief David Marcus launches Lightspark, a payments startup building on Bitcoin's Lightning network, backed by a16z, Paradigm, and others — After his departure from Facebook in November, many crypto industry insiders speculated where long-time executive David Marcus would land.
More:
Andreessen Horowitz, The Block, CoinDesk, Finextra, Protocol, Matrix Partners Viewpoints, and Bitcoin Magazine
Tweets: @mikeisaac, @sriramk, @kantrowitz, @spiritofbitcoin, @mikeisaac, @smtuffy, and @thestalwart
| David Pierce / The Verge: |
A look at Google's “ambient computing” strategy, a bid to unify its disparate hardware lines, led by the Pixel team, while keeping its Android partners happy — Making ambient computing happen is forcing Google to change how it does everything — The story of this year's Google I/O actually started three years ago.| Jay Peters / The Verge: |
After mocking Apple for removing the iPhone's headphone jack in an August 2021 ad for the Pixel 5a, Google quietly drops the headphone jack with the Pixel 6a — The Pixel 6A offers a lot of good features, but not a headphone jack — Google just revealed the Pixel 6A at Google I/O on Wednesday …
More:
Insider, The Keyword, Philip Elmer‑DeWitt, Android Authority, Wccftech, Redmond Pie, and iPhone in Canada Blog
Tweets: @chriswelch, @starfire2258, @jaypeters, and @_gbalaji
| Washington Post: |
Interviews with 17 Hollywood insiders reveal that celebrities view Twitter as a high-risk, low-reward platform, and why Musk's ownership might make it worse — Elon Musk was right that Twitter's most popular accounts have gone quieter over the years. Hollywood insiders explain what happened …
Tweets: @taylorlorenz, @mattnavarra, @willoremus, @karissabe, and @triketora
| Yueqi Yang / Bloomberg: |
Coinbase's market cap falls to $12.98B from a $75B+ peak in 2021 as its stock closes at $58.50, far below its first day closing price of $328.28 in April 2021 — Coinbase Global Inc. has declined precipitously this year, largely mimicking the drop in Bitcoin prices and taking its market value … | Thomas Stackpole / HBR.org: |
A Q&A with crypto skeptic Molly White, who runs Web3 Is Going Just Great, on Web3's problems, cultural draw, privacy and potential harassment issues, and more — Welcome to Web3 — What Is Web3? — Why Blockchain's Ethical Stakes Are So High Web3 Will Run on Cryptocurrency What a DAO Can — and Can't — Do
More:
Slate. Tweets: @molly0xfff, @theburningmonk, @marcprecipice, @morganricks1, @carnage4life, @ahcastor, @gergelyorosz, and @molly0xfff
| Financial Times: |
Coinbase CEO Brian Armstrong says there's “no risk of bankruptcy” after a company filing said that users could lose all their crypto in “bankruptcy proceedings” — Shares in crypto exchange fall 23% after bleak results and new risk disclosure
Source:
@brian_armstrong. More:
Insider, The Verge, The Coinbase Blog, Cointelegraph, Coinspeaker, KnowTechie, Newser, and HotHardware.com News
| Lauren Kaori Gurley / VICE: |
Leaked memo: Apple is sending anti-union talking points to US retail store leaders, including that workers could lose “flexibility” and merit-based promotions — Apple is instructing managers to tell retail workers that they could lose benefits and career opportunities if they unionize.
More:
9to5Mac and AppleInsider
Tweets: @motherboard, @laurenkgurley, @katiedrumm, @audreyjcarleton, and @jason_koebler
| Tanaya Macheel / CNBC: |
SEC filing: FTX CEO Sam Bankman-Fried bought a 7.6% stake, worth $648M, in Robinhood, calling it “an attractive investment”; stock jumps 20%+ after hours — Sam Bankman-Fried, the CEO of crypto exchange FTX, has taken a 7.6% stake in Robinhood, according to a Thursday filing with the Securities and Exchange Commission.| Reuters: |
Foxconn reports Q1 net profit rose 5% YoY to ~$985M but warns Q2 revenue could slip due to rising inflation, cooling demand, and escalating supply chain issues — Shovel and FoxConn logo are seen before the arrival of U.S. President Donald Trump for the Foxconn Technology Group groundbreaking ceremony …
| Mahira Dayal / The Information: |
PitchBook: 16 new VC funds with 60%+ women decision makers have raised $4.5B from January to April 2022; women-led funds raised $3.7B in 2021 and $1.8B in 2020 — For years, women-led venture capital funds were the true Silicon Valley unicorns, a rarity in a sector where the vast majority of check writers are men.| Ariel Shapiro / The Verge: |
Spotify promotes Bill Simmons to oversee global sports strategy and Parcast founder and managing director Max Cutler to head of creator content and partnerships — He will lead a new global sports push for the streamer — Spotify has lost a number of top executives in the past month … Sponsor Posts
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Zoho:
5 common accounting mistakes — This is a guest post by Yaali Bizappln Solutions. A lot of businesses manage their customers and finances on separate platforms. This disconnect often leads to missed invoices …
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Hamming:
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