Welcome to the Tech Mem Right Home for Wednesday, June 29th, 2022. I'm Brian McCullough.

Today, I joke that it's a Groundhog Day, but if you're a crypto billionaire, you probably want the repetition

to end as much as anybody at this point.

Wait, is Tik-Tok suddenly in trouble with the U.S. government again?

A new line of chips from Arm, Sony wants to play to PC gamers, and why Netflix doling out

stranger things and portions is one of the biggest experiments being run in Hollywood right

now. Here's what you miss today in the world of Tech.

Groundhog Day. Sources are saying a British Virgin Islands court has ordered the

liquidation of Singapore-based Three Arrows Capital.

It actually did so on June 27th.

So in classic market crisis fashion, as some of the lending coins have blown up, basically

due to bank runs.

Now the contagion has taken down a major hedge fund player,

and I guess their counterparties are also in danger as well.

Speaking of counterparties, I don't know if we mentioned them, but CoinFlex is a crypto exchange, and they froze withdrawals recently, and they now say that they plan to issue up to 47 million what they're calling recovery value

U.S.D. tokens offering a 20% annual return

to those who purchase them, all in order to pay

or repay, I should say, a $47 million debt.

And speaking of $47 million debts,

coin flex CEO Mark Lamb has said

that crypto investor Roger Vbe owes coin flex $47 million in USDC.

After Ver denied, quote, some rumors he defaulted on a debt to a counterparty.

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