DOJ Probing Binance Over Possible Russian Sanctions Violations
The probe, which is being handled by the department’s national security division, is looking at whether Binance or company officials allowed users to bypass the sanctions.
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Sequoia Let LPs Withdraw Capital Early From Evergreen Fund
Facing liquidity crunch, some Sequoia backers chose to withdraw money earlier than planned.
Instacart’s Order Volume Growth Slows in First Quarter
The slowdown could affect the timing of Instacart's IPO.
Vice Media Nears Bankruptcy Deal For Sale
Vice Media is in talks to sell itself to lenders including Fortress Investment Group and Soros Found Management in a deal valued around $400 million.
Warner Bros. Discovery Reports Small Streaming Profit in Q1
WBD chief David Zaslav said the company's streaming division will turn a profit "a year ahead of schedule." Meanwhile, WBD's TV ad revenue dropped 15% as the TV ad market slumped.
Google Researcher: Company Has ‘No Moat’ in AI
A Google researcher argued in a recent internal memo that their company, as well as OpenAI, won’t be able to defend their respective advantages in AI.
Apple’s Revenue Falls 3% Despite iPhone Sales Growth
Apple's iPhone sales increase was striking, given that the overall smartphone market shrank in the quarter.
DoorDash Revenue Increases 40% as Non-Restaurant Items Drive Order Growth
DoorDash shares stayed flat, at $63, on Thursday.
Coinbase Revenue Drops 34%, Cuts Back on Costs
The crypto exchange significantly cut back on costs and narrowed its first quarter net loss.
TD Bank, First Horizon Terminate Merger
Two banks decide to scrap their deal because of regulatory concerns.
Peloton Shares Drop on Forecasted Subscriber Decline
The home fitness company has emphasized selling more subscriptions, which don’t require hardware, under CEO McCarthy.
Lyft Reports 14% Revenue Growth But Projects Little Growth in Q2
The no. 2 U.S. ride-hailing firm also burned nearly $100 million in the quarter.
Goldman’s Silicon Valley Bank Dealings Under Investigation
Goldman's dealings with SVB, including selling SVB's securities, had prompted criticism.
Jason Bergsman Named CEO of Chernin Group-Backed MeatEater
Bergsman, a founding member of The Chernin Group, will oversee MeatEater, an outdoors and adventure content outlet prominent on YouTube and Netflix.
Klaviyo Adds Board Members as It Preps for Potential IPO
The marketing software firm continues to ready itself for a potential public debut.
Paramount Global Slashes Dividend as Streaming Costs Mount
The TV company's first quarter results demonstrated the financial challenges facing TV firms expanding in streaming right now.
Shopify Lays Off 20% of Employees As It Embraces More Cost-Cutting
The e-commerce software company is looking to refocus on its core business after selling its logistics arm to Flexport.
Flexport Buys Shopify’s Logistics Business
The sale marks a pivot for the e-commerce software firm, which paid $2.1 billion for Deliverr last summer.
Pay Falls for Many Tech Workers as the Downturn Hits Home
Salaries likely didn't shrink, but bonuses may have declined at companies that missed financial targets and some stock grants fell along with share prices.
Former OpenSea Exec Convicted of Fraud in NFT Insider Trading Case
Prosecutors said the case was the first of its kind involving digital assets.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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