A look at Do Kwon's algorithmic UST stablecoin, designed to trade at $1, after it fell as low as $0.60; CoinMarketCap says there are 18.5B UST in circulation
Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
CoinMarketCap: UST stablecoin loses its USD peg, falling as low as $0.60, after the Luna Foundation Guard pledges $1.5B of its bitcoin reserves to support UST
Despite Loan From Bitcoin Reserves The Block : Crypto researcher unpacks why UST broke down and what happens next Brian Newar / Cointelegraph : Terra peg mechanism in doubt as UST crashes to $0.67 Rya...
The UK and EU say Russia launched a cyberattack on satellite internet network Viasat at the onset of the Ukraine war in late February, affecting many in Ukraine
Russia was behind a massive cyberattack against a satellite internet network which took thousands of modems offline at the onset … Source: GOV.UK and European Council .
At Monday's close, the largest US tech companies lost $1T+ in value over three trading sessions; Apple lost $220B, Microsoft $189B, Amazon $173B, and Meta $70B
- Apple, the most valuable publicly traded company, has seen its market capitalization trimmed by over $200 billion since Wednesday …
Sony reports Q4 gaming revenue rose 4.9% YoY to ~$5.1B; PS5 sales were 2M, reaching 19.3M in total, around 3.1M behind the PS4 at the same point in time
Sony announced that it sold just 2 million PlayStation 5 units last quarter (Q4), bringing its overall total to 19.3 million.
Binance has temporarily suspended withdrawals of LUNA and UST tokens due to a high volume of pending withdrawals and “network slowness and congestion”
Binance has resumed withdrawals of LUNA and UST tokens after the two tokens crashed on Tuesday on the back of a broader fall in the crypto markets.
Study claims the implementation of EU's GDPR has reduced the number of apps on Google Play by a third, increased costs, and reduced revenues for app developers
Privacy rules increase cost, reduce choice, slash revenues, study concludes — Europe's data protection regime has reduced … Source: NBER .
Bitcoin fell ~10% to around $31,000, its lowest level since July 2021, as investors flee riskier investments; Ethereum, Solana, Avalanche, and others also fell
Sources: in a note to employees, Netflix executives say an ad-supported tier could launch in Q4 2022
Executives said they were aiming to introduce an ad-supported, lower-priced subscription tier in the last three months of the year, quicker than originally indicated.
Analysis: El Salvador's bitcoin investment, driven by President Nayib Bukele, is worth $74M, well below the $103M paid for its 2,301 BTC since September
Michael D McDonald / Bloomberg :
Analysis: Tiger Global has lost about $17B in 2022 during the tech stock sell-off, erasing around two-thirds of its gains made since 2001 in four months
Hedge fund suffers ‘breathtaking’ drop as speculative stocks sink from pandemic peaks — Tiger Global has been hit by losses …
Researchers detail a malicious campaign that used Windows event logs to store malware, a technique that has not been previously documented publicly in attacks
Security researchers have noticed a malicious campaign that used Windows event logs to store malware, a technique … Source: Securelist .
F5 disclosed and patched an actively exploited critical bug last week in its BIG-IP products that act as load balancers and firewalls within enterprise networks
Flaw in widely used gear from F5 executes root commands, no password necessary. — Researchers are marveling at the scope …
Nintendo reports Q4 revenue rose 6% YoY to ~$2.9B as profit rose 0.6% YoY to $922M; Switch sales were 4.11M, for 23.1M total; Nintendo will split its stock 10:1
Nintendo Co. will split its stock into 10 from October, potentially propping up the shares as the Mario creator struggles …
Coinbase, Robinhood, Rivian, UiPath, Marqeta, and Toast are down 65%+ from their IPO; over half of 53 tech companies that went public in 2021 are down 50%+
Ari Levy / CNBC :
Crypto exchange KuCoin raises a $150M pre-Series B led by Jump Crypto at a $10B valuation, up from $100M in November 2018, and says it has 18M+ users
KuCoin's valuation has surged to $10 billion in its first financing round in four years as the global cryptocurrency exchange looks …
Intel unveils Alder Lake HX laptops chips coming this year, with up to 16 cores, peak clock rates of 5.0 GHz, and a 55W base power draw that can stretch to 157W
Up to 16 cores, 5.0 GHz, and 157W of peak power draw — Intel is bulking up its family of Alder Lake mobile CPUs …
Paddle, which provides a billing backend for SaaS companies, raises a $200M Series D led by KKR at a $1.4B valuation, bringing its total raised to $293M
Software as a service has become the default for how organizations adopt and use apps these days, thanks to advances in cloud computing and networking …
Mark Zuckerberg says Meta will start letting some US creators test digital collectibles and NFTs on Instagram this week, and won't charge for sharing NFTs
Anushree Dave / The Block : Source: Facebook .
Apple will discontinue the iPod touch, leaving the device on sale “while supplies last”, ending the product line after introducing the original iPod in 2001
Last October marked 20 years of the iPod. It's a remarkable run in the cutthroat, always-iterating world of consumer electronics.
Casa, which offers a “self-custody” bitcoin wallet and just launched an API to help businesses integrate multi-sig wallets, raises a $21M Series A
Quick Take — Casa has raised $21 million in a round led by Acrew Capital. — The company also announced a new API …
A profile of influential quantum computing physicist Jerry Chow, who joined IBM in 2010 and leads IBM Quantum, which said it broke the 100-qubit barrier in 2021
We visited Jerry Chow, one of the field's most influential scientists, at IBM's quantum research lab. Tweets: @haydenfield , @pstasiatech , and @joshsternberg Tweets: @haydenfield : NEW: IBM's quantum...
TikTok will roll out its “Friends” tab, dedicated to watching your “friends' videos”, to more people over the coming weeks, replacing the “Discover” tab
TikTok is rolling out a new “Friends” tab that replaces the “Discover” tab in the bottom menu of the app.
Clearview AI reaches a settlement with the ACLU by agreeing to stop selling or offering free access to its facial recognition database to most US businesses
Researchers: Elon Musk, who vowed to defeat Twitter's “spam bots or die trying”, has long benefited from “fanbots” boosting Tesla shares and deriding critics
official surveillance video of the states themselves—Facebook and YouTube would take them down as “misinformation.” You can see right away what they're terrified of—not misinformation but rather infor...
Talos, a crypto trading infrastructure startup for institutional investors, raises a $105M Series B led by General Atlantic at a $1.25B valuation
Quick Take — Talos is now a unicorn with $105 million in new funding from Citigroup, Wells Fargo and others.
Lincoln College is set to become the first US higher education institution to close in part due to a ransomware attack, which hindered admissions last December
Interviews with 50+ people detail Bolt's meteoric rise, which involved overstating tech and performance, as its valuation went from $250M to $11B in three years
The start-up has had a meteoric rise, thanks to its charismatic co-founder, Ryan Breslow. But he sometimes stretched the truth to get there. Tweets: @robinwauters , @brad262run , @rmac18 , @bizcarson...
Amazon is testing paying rural mom-and-pop shops a per-package fee to deliver orders within a 10-mile radius to neighbors in Nebraska, Mississippi, and Alabama
all those Amazon vans and trucks — it has largely counted on others like the @USPS to handle the expensive “last mile” in rural America. Things are starting to change... https://twitter.com/...
Upstart, which uses AI to gauge creditworthiness, cuts its 2022 revenue forecast down from $1.4B to $1.25B, citing rising interest rates; stock plummets 60%+
- Shares of Upstart plummeted Tuesday after the AI consumer lending platform cut its full-year revenue outlook.
Tencent-owned Riot Games sues ByteDance-owned Moonton, alleging the Chinese studio is ripping off Wild Rift, the mobile version of League of Legends
Supabase, an open-source Firebase alternative, raises an $80M Series B led by Felicis Ventures and says 80K+ devs have created 100K+ databases on the service
Supabase, which bills itself as an open source alternative to services like Google's Firebase, today announced that it has raised …
What to expect at Google I/O on Wednesday: Pixel Watch unveiling, a mid-range Pixel 6a, more details about Android 13, possibly Pixel Buds Pro, and more
Jon Porter / The Verge :
Arianee, which provides NFTs tied to the provenance and ownership of luxury goods, raises a €20M Series A led by Tiger Global
Ian Allison / CoinDesk :
Match Group sues Google, alleging the company abuses its power with a requirement that developers use Google's billing system for Android apps in the Play Store
but what is truly needed is Developer Choice Alex Atkin / MSPoweruser : Google is being sued over Android's in-app payment monopoly Abhishek Mishra / Fossbytes : Tinder Owner Accuses Google Is Holding...
Arcadia, which offers an API that combines energy data from 125 US utilities, raises a $200M Series E led by JP Morgan, bringing its total funding to $370M+
Joanna Glasner / Crunchbase News :
Sources: Meta is considering reducing the money it gives news outlets and focusing on news content as short videos on Facebook rather than as links to articles
which executives originally thought could help improve relationships with media orgs—as the company's priorities shift. Story w/ @jtoonkel https://www.theinformation.com/ ... Mark Di Stefano / @markdi...
Abnormal Security, which uses ML to identify fraudulent emails, raises a $210M Series C led by Insight Partners at a ~$4B valuation
James Rundle / Wall Street Journal :
Canada's Competition Bureau files to block Rogers' $26B purchase of Shaw, as the merger would lead to “higher prices, poorer service quality, and fewer choices”
Tara Deschamps / Canadian Press : Tweets: @compbureau , @epro , and @davidreevely Tweets: @compbureau : We are seeking to block this merger because vigorous competition is essential for Canadians to ...
LGBTQ+ dating app Grindr plans to go public via a SPAC merger at a $2.1B valuation including debt, raising ~$384M; Grindr had $147M revenue in 2021, up 30% YoY
Michael Tobin / Bloomberg :
Congress could require vetting of US tech startups seeking federal funding after DoD found China is exploiting a program that funds small business innovation
Kate O'Keeffe / Wall Street Journal : Tweets: @kate_okeeffe , @kate_okeeffe , and @lukebk Tweets: Kate O'Keeffe / @kate_okeeffe : NEW: Pentagon report at center of debate on renewing SBIR program inc...
Despite Apple's AR push, mobile Safari lacks support for web-based AR, while browsers from Google, Samsung, and Opera have supported WebXR for years
SirionLabs, which develops enterprise vendor contract management tools, raises an $85M Series D led by Partners Group, bringing its total funding to $157M
Kyle Wiggers / TechCrunch :
IAB and PwC report: US podcast ad revenue hit $1.45B in 2021, up 72% YoY, and is expected to grow 47% to $2.13B in 2022 and grow to $4.2B in 2024
Todd Spangler / Variety :
Financial exchanges such as the CME Group and Nasdaq are embracing cloud computing technologies to transform the way they run global capital markets
Nicholas Fearn / Financial Times :
Shopify's new AI commerce stack
Their VP of Product digs into just-launched products to help entrepreneurs and developers build with the latest AI.
Email fatigue is real: Here's how smart email tools help you regain control
Picture this: It's Monday morning. You walk into the office feeling energized and ready to take on the week.
Protecting your Cloud Applications Data
Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.