FTC Won’t Challenge Amazon’s OneMedical Deal
While the FTC will let the $3.5 billion acquisition close later this week, it is still forging ahead with a broader antitrust probe into Amazon.
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Recent Editions
Coinbase Revenue Falls 75% as Trading Slumps
Regulators have targeted staking services and stablecoins in recent weeks, posing a potential threat to parts of Coinbase’s business.
Walmart Issues Cautious Guidance For Year Ahead
While the retailer gained traction with wealthier shoppers last quarter, sales shifted more towards lower-margin essential items like groceries.
Supreme Court Hears Arguments For Section 230 Case
The plaintiffs in Gonzalez v. Google argue social media companies should be subject to liability related to their algorithmic recommendations.
Spotify Podcast Executive To Exit Company
Max Cutler, founder of the Spotify-acquired scripted podcast studio Parcast, will depart the streamer on May 1.
Polygon Labs Lays Off 20% of Staff
The company’s native token, matic, is among the ten largest cryptocurrencies by market capitalization.
Top Democratic Big Tech Critic to Resign from House
Rep. David Cicilline’s Republican replacement as antitrust subcommittee chair, Rep. Thomas Massie, is a libertarian who is seen as unlikely to support significant antitrust legislation.
Tencent in Talks with Meta to Sell Quest 2
The move comes after Tencent shuttered its own mixed-reality division.
Hong Kong to Allow Retail Investors to Trade Crypto
The city is vying with Singapore for cryptocurrency business and appears to have Beijing’s blessing.
Chinese City Guangzhou to Invest $29 Billion into Tech Funds
The city will allocate the money into funds-of-funds to invest in semiconductors, renewable energy and other high tech fields.
Fourth Quarter Venture Fundraising Fell to Near-Decade Low
Venture capital firms raised $20 billion in the fourth quarter, a 65% drop from the same period in 2021.
TikTok Announces New Creator Fund in U.S.
TikTok announced a new version of its creator fund in the U.S.
Meta Launches Subscription Service Called Meta Verified
Meta's move is similar in some ways to Twitter's Blue service but it offers fewer benefits.
Twitter Cuts More Sales Staff
As of late last month, Twitter had around 800 sales and marketing employees, out of around 2,000 total employees.
Former FTX Head of Engineering Likely to Plead Guilty Over Role in Alleged Fraud
Singh was a member of FTX’s inside circle, which included Bankman-Fried, FTX co-founder and Chief Technology Officer Gary Wang and Alameda Research CEO Caroline Ellison.
Amazon Says Employees Must Return to Office Three Days Per Week
Currently, Amazon’s in-office work policy varies by team, with some teams allowed to work fully remote.
SEC Sues Terraform Labs, Do Kwon Over Terra Stablecoin
The depegging of the terra stablecoin sent other crypto prices tumbling and led to the collapse of several crypto lending companies that had significant exposure to luna and terra.
Meta Platforms May Do More Layoffs
Meta laid off 13% of its workforce in November and may cut more workers if there isn't enough voluntary departures.
Binance Considering Ending U.S.-Based Partnerships Amid Regulatory Crackdown
Binance.US, which claims to be a separate and independent exchange, operates in the U.S. and a spokesperson told The Information it “has no plans to leave the US market.”
E-Commerce’s Share of Total Retail Flatlined in 2022
The slowdown is a challenge to companies that rely on growth in online shopping, including small online sellers, big e-commerce firms like Amazon and payment processors like Stripe.
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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