Coinbase Revenue Drop Cushioned By Interest Income
Coinbase’s crypto trading volume plunged versus last year. One bright spot was a jump in interest income from its UDSC stablecoin partnership.
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Recent Editions
OpenAI Launches DALL-E 2 Service for Software Developers
Startup OpenAI is now selling access to an API that could kindle more interest in the technology from developers that work with generative AI.
Warner Bros. Discovery Reports Lower Revenue and Profits
The company, formed from the merger of WarnerMedia and Discovery, was hit by the weaker ad market and the stronger dollar.
Amazon Freezes Corporate Hiring
Amazon has implemented a hiring freeze for its corporate workforce, the company announced Thursday, citing the "unusual macro-economic environment."
Fidelity Launches Waitlist for Retail Crypto Trading Platform
Fidelity will take a small portion of each trade by factoring a spread of 1% on each transaction.
Stripe Cuts 14% of Staff, Was ‘Much Too Optimistic’ About E-Commerce Boom
Stripe co-founders said they over hired and grew operating costs at the payments giant too quickly.
China Venture Capital Investing Drops 44%
Funding for China startups fell to $62 billion through October compared to same period in 2021.
Twitter’s Legal Team Discusses Severance for 3,700
The cuts would amount to half of Twitter's workforce.
Robinhood Reports Steep Drop in Users
Robinhood reported 12.2 million monthly active users for September, down 35% from a year earlier.
Coinbase Chief Product Officer Surojit Chatterjee Stepping Down
As part of Chatterjee’s exit, Coinbase will reorganize the company’s product, engineering and design teams.
Recruiting Startup Gem Cuts a Third of Workforce
The startup, which is backed by Iconiq, Greylock and Accel, was last valued at $1.2 billion
Chinese Industrial Park with Large iPhone Factory Imposes Covid Lockdown
The imposition of strict Covid controls could impact production at iPhone assembler Foxconn.
Airbnb Forecasts Slowing Growth After Record Sales
The company faces tough comparisons with the year-ago quarter, when travel surged.
Galaxy Digital to Cut 20% of Staff
The layoffs are roughly in line, percentage wise, with those of other major crypto companies like Coinbase and OpenSea.
AMD Shares Rise 4% on Strong Data Center Chip Sales
AMD warned investors early last month that its PC business was seeing declining revenue, but its data center and gaming units picked up the slack.
UK Furniture Seller Made.com Appoints Administrators, Shares Delisted
Made.com said it plans to appoint administrators after failing to find a buyer, marking a dramatic downfall for the British online furniture seller.
Uber’s Ride-Hailing Business Almost Back at Pre-Covid Levels
Uber's revenue was artificially lifted by changes to its UK business and an acquisition in its freight operations.
Elon Musk Plans $8 Twitter Blue Revamp
Twitter Blue will still be required to verify users.
FCC Commissioner Calls for TikTok Ban
FCC Commissioner Brendan Carr said the U.S. government should ban TikTok.
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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