Techmeme
October 25, 2025, 1:25 AM

Top News

Bloomberg Law:
Source: President Trump has picked Michael Selig, the chief counsel for the SEC's crypto task force, to chair the CFTC, amid a crypto push  —  President Donald Trump has picked Michael Selig to chair the Commodity Futures Trading Commission, according to an administration official …
Wall Street Journal:
Sources detail how Sam Altman, Jensen Huang, Marc Benioff, and others brokered a call between SF Mayor Daniel Lurie and Trump to stop National Guard deployment  —  Sam Altman, Jensen Huang and Marc Benioff conferred with Mayor Daniel Lurie on how to persuade the president not to deploy the National Guard
Greg Bensinger / Reuters:
Lindo St. Angel, VP of hardware at Amazon's Lab126 R&D unit since 2010, plans to leave on October 31; he helped develop the Echo, Astro robot, and Fire tablet  —  A fifteen-year veteran of Amazon's devices division who had a hand in developing many of the most recognizable gadgets …
Junko Fujita / Reuters:
Shares of Japanese optical fiber maker Fujikura are up ~171% YTD, outpacing the Nikkei's 22% and lifting its market cap to $33B+ amid the AI data center boom  —  - Shares in optical fibre maker up 160% since start of 2025  — Founded in 1885, Fujikura started out making silk and insulated wires
Bloomberg:
Sources: PayPal to take over Carlyle's stake in Shopware, a German provider of e-commerce tools to merchants, with PayPal's stake increasing to ~41% from ~11%  —  PayPal Holdings Inc. is taking over a stake in German digital commerce company Shopware AG from a Carlyle Group Inc. fund, according to people with knowledge of the matter.
Hannah Murphy / Financial Times:
Sources: X's advertising chief John Nitti, who joined in January, has left; X's CFO Mahmoud Reza Banki left in early October after less than a year in the role  —  John Nitti was considered a contender for CEO of the social media platform after Linda Yaccarino quit in July
Zachary Small / New York Times:
Microsoft plans to bring its Halo franchise to the PlayStation for the first time with the launch of a 25th‑anniversary remake of Halo: Combat Evolved in 2026  —  As part of a strategic shift away from exclusivity, Microsoft is bringing Halo to Sony's competing console for the first time.
Bloomberg:
Tether CEO Paolo Ardoino says the company expects to earn close to $15B in profit in 2025, up from around $13B in 2024  —  Tether Holdings Ltd. expects close to $15 billion in profit this year, as the stablecoin issuer's rapid growth continues to attract investors keen to back the closely-held company.
Jess Weatherbed / The Verge:
OpenAI launches a “company knowledge” ChatGPT update to let Business, Enterprise, and Education users search for data in connected apps like Slack and GitHub  —  The ‘company knowledge’ update allows ChatGPT to be used as a search engine for workspace data.
The Information:
With an influx of Meta alums, some OpenAI staffers worry it is adopting Meta's tactics, like using social media dynamics with Sora and a softening stance on ads  —  This summer, Fidji Simo wasted no time addressing a concern among many at OpenAI.  —  Leading her first all-hands meeting …
Emily Mason / Bloomberg:
Crypto.com follows Circle, BitGo, and others in applying for a US bank charter, as it seeks to further its custody-service business for products such as ETFs  —  Crypto.com became the latest cryptocurrency firm to pursue a US bank charter as it seeks to further its custody-service business …
Matt Day / Bloomberg:
Interviews with 23 current and ex-AWS employees and others about AWS' challenges, including intense competition, internal bureaucracy, and lackluster AI efforts  —  The company that basically invented the cloud business is widely perceived as trailing its rivals in artificial intelligence.

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