Crypto Company Circle Cuts Staff
USD Coin’s outstanding supply has shrunk by nearly one fifth since the start of the year, which likely has cut Circle’s revenue significantly.
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Recent Editions
SEC Charges Another Former Executive at JPMorgan Acquisition Frank
Founder and chief growth officer hired engineer to create fake user accounts, SEC says.
Google Cloud Hires Ex-AWS Data Center Chief in Shakeup
At AWS, Vonderhaar oversaw the cloud provider’s global data centers and led efforts around capacity planning.
Roku and Shopify Team Up for Click-to-Buy TV Ads
Under the partnership, Roku viewers will be able to use their remotes to learn more about and purchase products advertised by Shopify merchants.
Elon Musk Glass House at Center of Tesla Internal Probe
Musk deputy Omead Afshar stepped away from Tesla following an investigation last year.
Bank of America Fined For Creating Accounts Without Customers’ Consent
Bank will pay $250 million to resolve issues raised by the CFPB and OCC
Sam Altman’s SPAC to Acquire Altman-Backed Nuclear Fission Startup
AltC, the blank check company founded by the OpenAI CEO and ex Citibank exec Michael Klein, faced an imminent deadline to find a merger partner
Sapphire Ventures Dedicates $1 Billion to AI Deals
Sapphire will funnel $1 billion to investments in artificial intelligence startups focused on enterprise technology
TikTok Subsidizes Returns Costs in Bid to Grow U.S. Shopping Service
TikTok is trying to recruit more sellers to use its e-commerce features by offering free services
Judge Denies FTC’s Bid to Block Microsoft-Activision Deal
The two companies are aiming to close the deal later this month.
Google Tests Medical AI Chatbot at Mayo Clinic
The company is looking to plant a flag in an industry that could be transformed by artificial intelligence tools.
Revolut Lost $20 Million to Payments Glitch in 2022
The UK based fintech reportedly gave refunds to customers on transactions that were declined.
Founders Fund Hires Flexport Founder as Partner
Petersen will continue to serve as executive chairman at Flexport, the $8 billion-valuation logistics startup founded in 2013.
Fed to Propose Tougher Capital Rules for Big Banks
Banks with more than $100 billion in assets would be required to hold an additional 2 percentage points of capital under the proposals.
New York Times Eliminates Sports Desk in Favor of The Athletic
The Times said stories from The Athletic, which accounts for 5% of overall revenue, will increasingly show up in print and on its website.
TPG Buys Forcepoint Unit From Francisco Partners for $2.45 Billion
Francisco bought Forcepoint, which it is now splitting, from Raytheon in 2021.
Oddity Tech Seeks up to $1.7 Billion Valuation in IPO
The beauty company is hoping to take advantage of recent interest in other beauty and consumer stocks.
Alibaba, Tencent Shares Up As Investors Hope for End of Tech Crackdown
Shares in China's two biggest tech companies are up after China's central bank fined them hundreds of millions of dollars each, a sign a crackdown is ending.
Comedian Sarah Silverman Sues OpenAI, Meta for Copyright Infringement
Silverman and two other authors accused the tech companies of training their AI models on the writers' works without permission.
Weekday mornings
The Information AM by The Information Staff
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