Genesis Lays off 30% of Employees
The company’s trading arm has roughly $175 million stuck on FTX, and its lending arm that has still suspended redemptions has loans of at least $1.8 billion outstanding.
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Recent Editions
Netskope Raises $401 Million in Convertible Debt
The deal was led by Morgan Stanley’s Tactical Value group
Stitch Fix CEO Stepping Down as Retailer Slashes More Jobs
The online apparel seller has struggled with onboarding more new users and fighting rising costs since mid-2021.
Celsius Assets Belong to Company, Not Customers, Judge Rules
The ruling could have implications on whether or not customers at other bankrupt crypto lenders and exchanges own their assets.
Annual Global Venture Funding Fell 35% in 2022
There were only 22 new 'unicorns' in the fourth quarter.
Crypto-Friendly Bank Silvergate Dumps Assets, Lays Off 40% of Staff
The company is also laying off 40% of its staff, about 200 employees.
Federal Authorities Seizing FTX Assets, Including Robinhood Shares
FTX, BlockFi, and Sam Bankman-Fried were previously fighting over who owns the Robinhood shares
Twitter Hack Reportedly Leaks Over 200 Million Email Addresses
The hack could allow anonymous Twitter accounts to be linked to real-world identities.
Amazon Plans to Lay Off More Than 18,000 Workers, Mostly in Retail and HR
Amazon's job cuts, which started late last year, were originally expected to total 10,000.
Microsoft Shares Drop on Azure, Office Concerns After UBS Downgrade
Microsoft's Azure and Office businesses, which generate billions of dollars in annual revenue, are getting closer scrutiny from investors as tech spending slows.
Salesforce to Lay Off 10% of Staff After Hiring ‘Too Many People’ During Pandemic
In a letter to staff, CEO Marc Benioff took responsibility for overstaffing as revenue soared during the pandemic.
European Regulator Finds Meta’s Ad Practices Illegal
The decision could have serious implications for Meta’s revenue engine.
Coinbase to Pay $100 Million Settlement for Violating Anti-Money-Laundering Laws
Coinbase will pay a $50 million fine to New York state and spend an additional $50 million to improve its compliance procedures.
Microsoft, OpenAI Prep ChatGPT-Powered Bing to Challenge Google
Microsoft CEO Satya Nadella hopes to outflank his bigger search rival.
Shopify Tries to Reduce Time Employees Spend in Meetings
The e-commerce firm is clearing employees’ calendars and restricting when meetings can be held.
World’s Biggest iPhone Factory in China Is Back at 90% Capacity
The recovery comes after production at the factory, operated by Apple's contract manufacturer Foxconn, was disrupted by a Covid outbreak and worker protests.
Google Hires Top AI Ethics Expert From Microsoft
Mira Lane has joined Google's team focused on the effects of technology on society.
Sam Bankman-Fried Pleads Not Guilty to All Criminal Charges
The judge also approved a request to redact the names of two co-signers to Bankman-Fried’s bail.
Shopify Offers a la Carte Services in Effort to Woo Bigger Retailers
Shopify announced a new way for large retailers to integrate its products individually into their existing offerings, a notable move given the e-commerce giant’s historic focus on smaller sellers.
Elon Musk Has a New Number 2 at Tesla
Tesla Head of China Tom Zhu is Running Global Sales and Deliveries
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