USDC Issuer Circle Scraps $9 Billion SPAC Deal
Circle generated $274 million in total revenue, including USDC interest income, in the third quarter, up nearly 14 times from $19.6 million a year ago.
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E-Commerce Firm Rokt Sells Shares in Secondary Deal at $2.4 Billion Valuation
The deal marks a rare boost in value for an e-commerce company and gives employees and early investors a way to cash out.
Foxconn’s China IPhone Factory Could Be Back at Full Output by End December
The plant in Zhengzhou which had been hit by Covid and worker unrest could be back at full capacity soon, Reuters said citing a source.
DOJ Seeks Independent Examiner in FTX Case to Investigate Fraud Allegations
SEC, House Committee on Financial Services among other entities investigating FTX.
Amazon Entertainment Chief Jeff Blackburn to Exit Company
Blackburn led Amazon's media and entertainment ventures including Prime Video, Amazon Studios, Audible, Twitch and Amazon Music.
Galaxy Wins Bid to Buy Bankrupt Crypto Lender Celsius’ GK8 Unit
The acquisition will add 40 new employees to Galaxy, and GK8 co-founders will stay on to lead the custodial technologies business at Galaxy.
Lawyer for Laid Off Twitter Employees Accuses Musk of Ignoring Severance Obligations
The lawyer threatened to start an arbitration campaign if Musk doesn't commit to paying severance by next Wednesday.
TPG Backs $465 Million Fund for Logistics Startups Behind China’s Export E-Commerce
Even as China's domestic deals are slowing down, some investors are betting on opportunities related to Chinese startups' overseas expansion.
Opendoor Replaces Eric Wu as CEO
Wu is at least the fifth founder-CEO of a formerly buzzy tech firm to step back this year after their companies struggled on the public markets.
Coinbase Says Apple Restricted NFT Features in Coinbase Wallet
Coinbase said Apple wants to subject gas fees to in-app purchases, of which Apple takes a 30% cut.
Andreessen Horowitz Shutters Its Online Publication Future
The venture firm launched Future in June 2021 in an attempt to directly shape the narrative around tech.
Online Wine Retailer Winc Files Bankruptcy, Meta is Top Creditor
Winc is the latest online DTC company to struggle after going public.
Elon Musk claims Neuralink Human Trial Is Six Months Away
The company is working on technology to enable humans to communicate with computers using their minds.
TSMC to Make More Advanced Chips in U.S. Plant
Taiwan Semiconductor Manufacturing Co. is upgrading the chips it plans to make in its Arizona plant after requests for better chips from U.S. clients including Apple.
Sam Bankman-Fried Denies Knowingly Dipping Into Customer Assets
The former FTX CEO said he thinks FTX US is fully solvent.
Musk Retracts Claims that Apple Considered Removing Twitter from App Store
Musk struck a conciliatory tone, days after complaining about Apple’s in-app purchase fees and accusing Apple of slowing its ad spending on Twitter.
TikTok’s CEO Pushes Back at Concerns About Data Security
The CEO also insisted he was responsible for all strategic decisions at TikTok.
Salesforce Co-CEO Bret Taylor to Step Down in January
Bret Taylor, who joined Salesforce in its 2016 acquisition of Quip, the workplace collaboration startup he co-founded, is leaving.
Zuckerberg Says Social Media Remains His Focus
The Meta Platforms CEO disputed the perception that he is focused entirely on the metaverse.
Former Engineer Accuses SpaceX of Age Discrimination
This comes just two weeks after eight fired workers filed a complaint with the National Labor Relations Board
Weekday mornings
The Information AM by The Information Staff
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