Genesis Halting Withdrawals in Crypto Lending Arm
The lending company received a $140 million equity infusion from parent company Digital Currency Group last week.
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Square Adds Business Credit Card
Square is launching a business credit card in partnership with Amex, putting it head to head with fintechs and payments giants that have been beefing up financial products for their customers.
China’s Tencent to Offload Most of Its Stake in Meituan
The move comes as Tencent's videogame and advertising businesses are grappling with economic and regulatory challenges.
Activist Investor TCI Calls On Alphabet to Cut Costs
The investment firm urged Alphabet to aggressively cut costs, including reducing headcount and minimizing losses for its Other Bets.
Bidder Emerges for Vox Media as Protocol Closes
All signs suggest that the ad market remains as weak as ever.
How Naver’s Poshmark Acquisition Evolved Out of Partnership Talks
South Korean internet giant Naver’s deal to buy Poshmark evolved out of talks about a partnership between the companies to expand into new markets, a securities filing showed on Tuesday.
SpaceX to Raise Funding at $150 Billion Valuation
Elon Musk’s rocket company has already raised $2 billion this year.
Ant Group’s Consumer Finance Arm Scales Back Fundraising Target
The Chinese fintech giant controlled by Alibaba founder Jack Ma continues to face challenges after Beijing cancelled its 2020 initial public offering.
News Corp to Replace WSJ Editor With British Editor
Rupert Murdoch is reportedly bringing in an editor from his UK newspaper the Sunday Times to run the Wall Street Journal.
Google Pays Record $391 Million Fine for Secretly Tracking User Location
The company admitted to years of violations after initially claiming innocence
BlockFi Taps Advisors, To ‘Explore All Options’ in Fallout of FTX Blowup
BlockFi also announced that customer withdrawals remain frozen.
Twitter Reportedly Lays Off Content Moderation and Infrastructure Contractors
Musk claims he's working day and night at Twitter's staff shrinks
Amazon Plans to Lay Off About 10,000 Employees
The cuts are expected to be concentrated in Amazon’s devices, retail and human resources divisions.
Alibaba Doesn’t Disclose Singles Day Sale for the First Time
Alibaba Group didn't disclose the total volume of transactions for this year's Nov. 11 Singles Day shopping festival, its biggest annual sales event.
Twitter Pauses Twitter Blue as Trolls Overtake Platform
Elon Musk’s subscription update allowed anyone with a credit card to sign up for a verified account.
FTX Ventures Head Amy Wu Resigns
Wu joined FTX in January to help Sam Bankman-Fried launch a $2 billion venture fund.
FTX Files for Bankruptcy, Sam Bankman-Fried Resigns
130 affiliated companies, including FTX US, are also filing for bankruptcy. John J. Ray III will take over as CEO.
Bahamas Security Commission Freezes FTX Assets
The move to freeze FTX’s assets comes after a stunning collapse of what was once the world’s second largest crypto exchange.
Crypto Lender BlockFi Freezes Withdrawals, Cites ‘Lack of Clarity’ on FTX
In a statement, BlockFi also told customers to halt deposits to their wallets and interest accounts
SoftBank Posts Profit As Alibaba Share Sale Offsets Vision Fund’s Loss
SoftBank's Vision Fund continues to suffer from the weakness of tech stocks in its vast portfolio.
Weekday mornings
The Information AM by The Information Staff
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