BlockFi CEO Denies Reports of $25 Million Acquisition by FTX
BlockFi was previously valued at $4.75 billion.
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SoftBank-Backed Grocery App Weee! Lays Off 10% of Staff
The layoffs come just several months after the startup's most recent funding round that raised $425 million at a valuation of more than $4 billion.
China’s Economy Shows Recovery Signs as Covid Restrictions Ease
It is unclear if the recovery can continue, as any rebound in new Covid cases could bring back tight restrictions under China's zero-Covid policy.
Microsoft Takes Nearly Six Months to Fix Azure Security Flaw
Microsoft's Azure cloud security is in the spotlight again after researchers discovered a vulnerability that could have let hackers hijack cloud-based machines.
Tesla Lays Off 200 Autopilot Employees
The cuts to Tesla’s Autopilot division come as the company plans to lay off around 3.5% of its workforce.
Crypto Hedge Fund Three Arrows Capital Ordered to Liquidate
Consulting and advisory firm Teneo is handling the insolvency.
Two Chinese Tech Firms Resume User Registrations Amid Hopes for End of Beijing’s Probes
The moves by Full Truck Alliance and Kanzhun raise questions about the fate of Didi Global, whose new user registrations remain blocked.
FCC Commissioner Calls on Apple, Google to Remove TikTok From App Stores
Even though TikTok didn't get banned by the Trump administration, the popular video app continues to face questions about American users' data it collects.
Email App Front Doubles Valuation to $1.7 Billion
Front’s financing, led by Salesforce Ventures and Battery Ventures, comes amid a slowdown in late-stage financing.
Disney’s Board Renews Chapek’s Contract for Three Years
Chapek took over as CEO of Disney in February 2020, right as the Covid pandemic was starting, putting him in the hot seat immediately.
Pinterest’s Silbermann Steps Down
Pinterest has lately suffered falling user numbers in the U.S. and struggled to adapt to a quickly changing digital landscape.
StockX Cuts 8% of its Staff
The popular sneaker resale site is the latest online retailer to cut staff as overall e-commerce sales growth slows.
Arm CEO Says Chip Firm Could Pursue More Deals After IPO
Arm CEO Rene Haas says the the company wants to accelerate its expansion into chips for cars, data centers and other hardware for the metaverse.
Taiwan’s GlobalWafers Plans to Build $5 Billion Chip Wafer Plant in Texas
The move comes as the U.S. and other countries are scrambling to beef up domestic supply chains amid ongoing global chip shortages.
FTX Exploring Acquisition of Robinhood
Any potential takeover deal would have to be approved by the Robinhood co-founders, who control over 50% of the company’s voting rights.
Tencent’s Biggest Shareholder Plans to Sell Some of Its Stake
South Africa's Naspers says its subsidiary Prosus plans to sell some Tencent shares to finance its long-term share buyback program.
Shanghai Declares Victory Over Covid-19
As Shanghai reported zero new cases and Beijing relaxed its Covid-19 restrictions, Hong Kong shares rose on hopes for China's recovery from the pandemic.
Congressional Report Says Robinhood Understated Liquidity Problems During Meme Stock Craze
During the height of the meme stock craze, Robinhood halted some transactions and later raised $3.4 billion from investors for emergency funding.
Zendesk Agrees to $10.2 billion Buyout Months After Rejecting Higher Bid
Zendesk had turned down a $17 billion proposal to take the company private in February.
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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