AWS, Microsoft and Meta Teaming Up to Develop Free Map Data
In an apparent effort to challenge Google's dominance of the online maps market, a coalition of rivals is teaming up to develop freely available map data.
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Binance Stablecoin Issuer Say Customers Redeemed $3 Billion in Seven Hours
Binance too saw a rush of customer withdrawals earlier this week.
FTX Seeking to Sell LedgerX, Other Entities in Bankruptcy Proceedings
Embed Technologies, FTX Japan and FTX Europe are the other businesses FTX is seeking to sell.
BigCommerce Laying Off 13% of Staff, Focusing on Larger Customers
The e-commerce software provider will cut around 120 full-time employees as it aims to become profitable by the end of 2023.
Senate Passes Bill to Block TikTok on Government-Owned Devices
The bill is the latest example of how TikTok, owned by China's ByteDance, is coming under intense scrutiny in Washington due to national security concerns.
Elon Musk Further Cuts His Tesla Stake by $3.5 Billion
Elon Musk sold more than $3.5 billion worth of Tesla shares this month, the second time he cut his stake since buying Twitter in late October.
Binance CEO Changpeng Zhao Tries to Reassure Customers After Big Withdrawals
Zhao also wrote a memo to staff, telling them that the industry is going through a “historic moment” and that they have the resources to survive a crypto winter.
Rubio Introduces Bipartisan Bill to Ban TikTok in U.S.
The move is the latest example of how TikTok is coming under intense scrutiny in Washington due to concerns about Beijing's influence on the video app.
China Plans $143 Billion Package to Support Domestic Chip Industry
The move comes after the U.S. government launched new export restrictions that limit China's access to key technologies for advanced chips.
AI Startup Dataiku Takes 20% Valuation Hit in New Funding Round
Dataiku, which competes with companies like C3.ai and DataRobot, has raised a down round but appears to be in better shape than some of its peers.
SpaceX Valued at $140 Billion in Tender Offer
The higher valuation as Elon Musk’s rocket ship company is bucks tech industry trend
U.S. Charges Sam Bankman-Fried Charged with Fraud
Bankman-Fried’s arrest and the criminal charges came only a month after FTX filed for bankruptcy.
Checkout.com Cuts Internal Valuation by 70%
The online payments processor has been affected by both a slowdown in e-commerce growth and turmoil in the crypto industry.
SEC Alleges Bankman-Fried Orchestrated Scheme to Defraud Equity Investors
Bankman-Fried "built a house of cards on a foundation of deception," said SEC chair Gary Gensler in a statement.
Twitter Disbands Trust and Safety Council
The group of outside advisors were told of the company’s decision to end it in a note Monday shortly before they were scheduled to hold a meeting.
Japan, Netherlands to Join U.S. Efforts to Limit Chip Tech Exports to China
The moves, which follow the Biden administration's sweeping export restrictions, would further limit China's ability to develop its own advanced chips.
Sam Bankman-Fried Arrested by Royal Bahamas Police Force
The arrest comes after the U.S. notified the Bahamian government that it has filed criminal charges against Bankman-Fried and is likely to request extradition, according to the statement.
Microsoft Buys 4% Stake in London Stock Exchange in 10-Year Cloud Deal
Microsoft said it expects the partnership to generate $5 billion in revenue in the coming decade.
Thoma Bravo to Acquire Coupa Software for $8 Billion
The private equity firm just finished raising $32.4 billion for a new buyout fund last week.
Fast-Fashion Online Retailer Shein Mulls Becoming a Marketplace
The company told investors it was exploring selling merchandise from third-party retailers in a move that would put it in direct competition with Amazon and Alibaba’s overseas operations.
Weekday mornings
The Information AM by The Information Staff
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