Voyager Digital Files for Chapter 11 Bankruptcy
Voyager said it has $1.3 billion worth of digital assets on its platform and more than $350 million in cash in an account for customers.
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Forever 21 Parent Company Settles Lawsuit with Bolt
ABG, a holding company that owns Forever 21 and Lucky Brand, previously accused Bolt of exaggerating its technology capabilities. The company will now be a Bolt shareholder.
U.S. Wants Dutch Firm ASML to Stop Selling Chipmaking Equipment to China
The semiconductor industry is a critical battleground for Washington and Beijing in the two nations' broader race for technological supremacy.
Twitter Sues India Over Demands to Remove Some Political and Protest Posts
The move ratchets up tensions between India's ruling party and U.S. tech companies.
TikTok Ditches Plan to Expand Live E-commerce to Europe and U.S.
TikTok is struggling to make live-streamed shopping work outside of Asian markets, as consumer adoption remains low.
Vauld Signs Tentative Agreement to be Acquired by Nexo
If the deal takes place, Nexo plans to reorganize Vauld’s operations and deepen its presence in Asia.
Hackers Claim to Have Stolen Data on 1 Billion Chinese Residents
If the anonymous hackers' claims are true, it could be the biggest-ever data breach in China's history.
TikTok CEO Responds to U.S. Senators’ Questions About User Data Security
TikTok and its Chinese parent ByteDance continue to face pressure from U.S. lawmakers due to concerns that American users’ data could leak to China.
Klarna to Raise Cash at $6.5 Billion Valuation in Dramatic Down Round
The installment loan provider fetched a $46 billion valuation in June
Amazon Secures UK Broadcast Rights for Lucrative European Soccer Games
It’s the latest step for Amazon in becoming a marquee broadcaster in Europe’s top sports.
China’s Tencent, ByteDance Implement New Round of Layoffs
China's biggest internet giants continue to grapple with macroeconomic headwinds even as regulatory concerns ease.
Meta Executive Warns of ‘Fierce’ Headwinds
Chief Product Officer Chris Cox told employees they would need to "prioritize more ruthlessly" as the company battles macroeconomic pressures and slowing ad revenue.
BlockFi CEO Denies Reports of $25 Million Acquisition by FTX
BlockFi was previously valued at $4.75 billion.
SoftBank-Backed Grocery App Weee! Lays Off 10% of Staff
The layoffs come just several months after the startup's most recent funding round that raised $425 million at a valuation of more than $4 billion.
China’s Economy Shows Recovery Signs as Covid Restrictions Ease
It is unclear if the recovery can continue, as any rebound in new Covid cases could bring back tight restrictions under China's zero-Covid policy.
Microsoft Takes Nearly Six Months to Fix Azure Security Flaw
Microsoft's Azure cloud security is in the spotlight again after researchers discovered a vulnerability that could have let hackers hijack cloud-based machines.
Tesla Lays Off 200 Autopilot Employees
The cuts to Tesla’s Autopilot division come as the company plans to lay off around 3.5% of its workforce.
Crypto Hedge Fund Three Arrows Capital Ordered to Liquidate
Consulting and advisory firm Teneo is handling the insolvency.
Two Chinese Tech Firms Resume User Registrations Amid Hopes for End of Beijing’s Probes
The moves by Full Truck Alliance and Kanzhun raise questions about the fate of Didi Global, whose new user registrations remain blocked.
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.
By providing your email, you agree to The Information’s Privacy Policy