Even by Bitcoin’s standards, Wednesday was pretty wild. Its price was down nearly 30 percent at one point, and though the cryptocurrency rebounded somewhat, it had still lost about $70 billion in market value in 24 hours, AP reports. Bitcoin hit a high of more than $64,829 in mid-April. But as of 5 p.m. Wednesday, it had fallen 41 percent to $38,390.
Google's Android 12 operating system, fully unveiled at the Google I/O developer conference Tuesday, represents the biggest design change in the history of the OS, CNet report. It brings color palettes that can be personalized, updated notifications and faster, battery-saving performance. Ars Technica says the new interface is powered by a "color extraction" API that can pull the colors out of your wallpaper and apply them to the UI.
Squarespace’s valuation dropped by nearly a third Wednesday in its debut on the New York Stock Exchange, Reuters reports. Shares of the website building and hosting company opened at $48 apiece—the NYSE had set a reference price of $50—and closed at $43.65. Squarespace was valued at less than $6 billion, a steep drop from the $10 billion valuation after its funding round announced in March.
A few years ago, what ISPs really wanted was to avoid being "dumb pipes," interchangeable infrastructure with no reason for customers to stay as it got easier to switch carriers. But then it didn't really get easier to switch carriers, and the business of being a dumb pipe started to explode thanks to 5G. Which explains why communications giants are getting out of the media game, Protocol reports.
Upstream, a startup that facilitates professional online communities and virtual networking events, has raised $3.25 million in seed funding led by Ibex Investors, Axios reports. Other startups like Gatheround (focused on team and workplace video chats for bonding) and Hopin (virtual event software tools) have also raised funding in recent months, underscoring the demand for virtual networking.
A new report suggests if President Joe Biden and Congress don’t invest enough in digital infrastructure, the U.S. will lose out in terms of global long-term competitiveness, Government Technology says. The report argues that the U.S. will fall behind if a comprehensive infrastructure plan overemphasizes physical infrastructure while other countries invest heavily in things like smart cities, modernized electric grids and 5G.
Zoom this week announced a new platform it plans to roll out this summer for live events that incorporate both in-person and virtual attendance, ZDNet reports. Zoom Events anticipates a post-pandemic world with the flexibility and convenience that digital platforms have offered, even as normal life returns.
Sprout Social has published its latest listing of the best times to post to each of the major social media platforms, which is based on the company's 20,000-plus customer base. In general, weekdays mornings showed the highest engagement, Social Media Today reports.
Cryptocurrency scammers pretending to be Tesla boss Elon Musk have made more than $2 million just six months, the BBC reports. The Federal Trade Commission says losses to fraudsters who claim to be Musk or other famous people are up almost 1,000 percent year over year.