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August 25, 2023, 12:30 PM
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Top News

Wall Street Journal:
US Treasury proposes new rules treating crypto exchanges more like stockbrokers, requiring them to report crypto gains to the IRS, starting in 2026  —  Long-delayed regulations would treat crypto platforms more like brokers who handle stocks and mutual funds
Yueqi Yang / Bloomberg:
Mastercard and Binance plan to end their card partnership in Latin America and Middle East on September 22; Visa stopped issuing Binance cards in Europe in July  —  - Visa halts issuing new Binance Card while Mastercard ends pact  — Crypto exchange under legal and regulatory challenges globally
Ariel Bogle / The Guardian:
NYT, CNN, and some other news outlets block OpenAI's GPTBot web crawler from accessing their content; some have also blocked Common Crawl Foundation's CCBot  —  Chicago Tribune and Australian newspapers the Canberra Times and Newcastle Herald also appear to have disallowed web crawler from maker of Chat GPT
AJ Vicens / CyberScoop:
Microsoft researchers say Flax Typhoon, a hacking group with suspected links to the Chinese government, is actively targeting dozens of organizations in Taiwan  —  A group dubbed Flax Typhoon has targeted “dozens” of Taiwanese organizations, according to new research from Microsoft.
Julian Chokkattu / Wired:
Citizen suspends sales of its $350 CZ Smart smartwatch, launched on May 1; review units had extensive issues, including freezing and inaccurate tracking data  —  The second-generation CZ Smart launched a few months ago.  Both the company and reviewers have found serious technical issues.
Manish Singh / TechCrunch:
Indian instant grocery startup Zepto raised a $200M Series E led by StepStone at a $1.4B valuation, taking its funding to $560M, India's first unicorn of 2023  —  Instant grocery delivery startup Zepto has raised $200 million in a new funding round at a valuation of $1.4 billion, it said Friday …
David Jeans / Forbes:
NYC-based digital lender Better.com closed down 94% in its Nasdaq debut on August 24, after a SPAC merger with Aurora Acquisition Corp  —  Once valued at $7.7 billion, Vishal Garg's SoftBank-backed company faced a cratering stock price and no plans for profitability as it went public Thursday via a SPAC merger.
Ryan Smith / AnandTech:
AMD announces new Radeon RX 7000 series video cards, $449 RX 7700 XT and $499 7800 XT, based on its new Navi 32 GPU and aimed at the 1440p gaming market  —  With the Gamescom convention taking place in Germany this week, AMD is using Europe's largest video game trade show as the venue for their latest Radeon video card announcements.
Sahil Patel / The Information:
Sources: Amazon has had early talks with Disney about working on a streaming version of ESPN, possibly helping with distribution while taking a minority stake  —  Amazon has had early talks with Disney about working on the streaming version of ESPN it is developing, said people familiar with the matter.

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This is a Techmeme archive page. It shows how the site appeared at 12:30 PM ET, August 25, 2023.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Katie Deighton / Wall Street Journal:
WME is selling sports marketing agency 160over90 to Publicis Groupe for, sources say, $500M+; WME bought the agency in 2018 for about $200M

Charlotte Tobitt / Press Gazette:
An interview with WSJ EIC Emma Tucker on increasing digital-only subscriptions by 30% to 4.29M since 2023, culture change, events, print, AI tools, and more

Reuters:
Australia says it will ban gambling ads featuring celebrities and limit online gambling ads to logged-in users over 18 starting in 2027

More News

Charlize Alcaraz / BetaKit:
Toronto-based Ideogram raised a $16.5M seed led by a16z and Index Ventures and launches a beta of Ideogram AI, its generative AI-based text-to-image product
Emily Bary / MarketWatch:
Affirm reports Q4 revenue up 22% YoY to $446M, vs. $406M est., net loss up 11% YoY to $206M, and GMV up 25% YoY to $5.5B, vs. $5.3B est.; AFRM jumps 20%+

Earlier Picks

Abner Li / 9to5Google:
Meta rolls out its Threads web app to all users, featuring an app bar at the top with the same five tabs as in the mobile app; tapping Home refreshes the Feed
Suzanne Kapner / Wall Street Journal:
Shein acquires ~33% of Forever 21 parent company Sparc and Sparc takes a Shein minority stake, letting Shein sell Forever 21 items and operate inside its stores
Brody Ford / Bloomberg:
Dropbox ends its unlimited option, capping its “all the space you need” storage plan to 5TB, after some abused the tier by pooling storage, reselling, and more
Brendan Case / Bloomberg:
Walmart partners with Alphabet's Wing to test drone deliveries of up to six miles at two stores in the Dallas area, dropping off food and household essentials
Nathan McAlone / Insider:
OnlyFans reports revenue up 17% YoY to $1.1B in the FY to November 30, 2022, profit up 24% YoY to $404M, creators up 47% YoY to 3.2M, and users spent $5.6B
Emilia David / The Verge:
Meta debuts Code Llama, which can generate code and debug human-written work, under the same community license as Llama 2, free for research and commercial use
Foo Yun Chee / Reuters:
To comply with the EU's DSA, Google plans to expand its Ads Transparency Center and offer more info on EU targeted ads, give researchers more access, and more
Brian Heater / TechCrunch:
Apple voices its support for California's Right to Repair Act, which passed a Senate vote 38-0 in May 2023 and now awaits approval before a full assembly vote
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