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Techmeme
February 17, 2023, 11:50 AM

Top News

Bloomberg:
The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value  —  The US Securities and Exchange Commission is preparing to sue the company behind TerraUSD, a crypto stablecoin whose collapse …
Suvashree Ghosh / Bloomberg:
The SEC says Do Kwon and Terraform Labs have withdrawn $100M+ in fiat currency from a Swiss bank since June 2022, after moving 10K+ Bitcoin out of a cold wallet  —  Crypto fugitive Do Kwon and the firm he founded transferred over 10,000 Bitcoin out of their doomed project and turned …
Wall Street Journal:
Sources: Meta gave ~10% of staff subpar ratings in recent performance reviews, a sign of more workforce reductions, and cut a bonus metric to 85% of its target  —  The performance-review process is expected to set the stage for more workforce reductions this year  —  Why Tech Layoffs Don't Reflect the Job Market
Sheila Dang / Reuters:
Source: Microsoft is demoing Bing chatbot to ad agencies, saying it plans paid links within the chatbox responses and industry-specific ads  —  Microsoft (MSFT.O) has started discussing with ad agencies how it plans to make money from its revamped Bing search engine powered …
New York Times:
OpenAI:
OpenAI plans to improve ChatGPT's behavior to reduce biases, allow more user customization, and get more public input into decision-making about system defaults  —  We're clarifying how ChatGPT's behavior is shaped and our plans for improving that behavior, allowing more user customization …
Reuters:
Clothilde Goujard / Politico:
Under the Digital Services Act, online platforms disclose their MAUs in the EU: YouTube has 401M, Facebook 255M, Instagram 250M, TikTok 125M, Twitter 101M  —  TikTok, Twitter, Facebook and Instagram have now confirmed they will face the strictest rules under the EU's content-moderation law, the Digital Services Act (DSA).
Victoria Song / The Verge:
Fitbit plans to remove adventures, challenges, and open groups from its app and replace Studio with an SDK; Google says the features were of “limited use”  —  Fitbit users: better one-up your friends in challenges while you still can.  Starting March 27th, Fitbit will remove all adventures …
Josh Ye / Reuters:
Sources: Tencent cuts its 300-strong metaverse unit and drops VR hardware plans due to trouble achieving quick profitability and the need for a big investment  —  Tencent Holdings (0700.HK) is abandoning plans to venture into virtual reality hardware, as a sobering economic outlook prompts …
Jay Peters / The Verge:
Apple's iOS 16.4 and iPadOS 16.4 betas add support for Safari web apps on the homescreen to send push notifications and show notification badges  —  Apple's new iOS and iPadOS 16.4 betas will let Safari web apps on your homescreen send you push notifications, according to a new post on the WebKit blog.
Bloomberg:
Filing: the Saudi Arabian Public Investment Fund's Savvy Games Group now owns 8.3% of Nintendo, the largest outside shareholder, up from ~6% in early 2023  —  Saudi Arabia's Public Investment Fund became the largest outside shareholder of Nintendo Co. on Friday, in the latest move by the Gulf state to lower its reliance on oil.
Mia Sato / The Verge:

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More News

Chainalysis:
Janko Roettgers / Lowpass:

Earlier Picks

Jennifer Elias / CNBC:
Sarah Perez / TechCrunch:
Tom Warren / The Verge:
Aisha Malik / TechCrunch:
Sarah Perez / TechCrunch: