Shopify on Monday proposed 10-for-1 stock split as well as changes that would protect the voting power of CEO Tobias Lütke. Under the proposal, the e-commerce giant would issue a “founder share” to Lütke that would give him a total of 40% voting control of the company. The share expires if Lütke, who founded Shopify in 2004, leaves the company and cannot be transferred to anyone else. Both...
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Crypto Company Bakkt’s Make-or-Break Deal
The crypto industry is littered with the corpses of now-shuttered businesses. Among the survivors, at least so far, is Bakkt, a crypto company founded by New York Stock Exchange owner Intercontinental Exchange. But after a previously unreported second round of layoffs earlier this month, a slew of executive exits and the shuttering of its consumer app, few would be betting on Bakkt. Yet Bakkt...
Coinbase Hires Former Shopify Executive as Country Director
Circle’s USDC Outflows Exceed $10 Billion Since Crypto Bank Crisis
Virgin Orbit Lays Off 85% of Staff, Ceases Operations
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