Techmeme
January 29, 2021, 12:05 PM

Top News

New York Times:
Robinhood says it raised emergency funding of $1B+ from its existing investors, as it faces an onslaught of demands on its cash amid a stock market frenzy  —  The no-fee trading app, which is popular with young investors, has been strained by the high volume of trading this week in stocks such as GameStop.
Misyrlena Egkolfopoulou / Bloomberg:
Robinhood is telling some users it may close out some of their positions as part of measures it is taking to reduce account risks  —  Robinhood Markets told users of its popular stock trading app that it may close out some of their positions as part of measures it's taking to reduce account risks.
Jesse Westbrook / Bloomberg:
SEC says it “will closely review actions taken by regulated entities that may disadvantage investors” in trading certain securities  —  The U.S. Securities and Exchange Commission, making its most specific comments about the recent mania in the stock market …
Jacob Kastrenakes / The Verge:
Robinhood says it didn't proactively sell shares of GameStop, AMC, or any other buzzworthy stocks without traders' permission, denying claims made by some users  —  Traders say they intended to keep holding  —  No, Robinhood tells The Verge, it didn't sell off full shares of GameStop …
Bloomberg:
Sources: Robinhood has drawn down some of its credit lines with banks, tapping at least several hundred million dollars  —  Robinhood Markets, the trading app that's popular with investors behind some of this month's wildest stock swings, has drawn down some of its credit lines with banks …
Paresh Dave / Reuters:
Facebook took down the “Robinhood Stock Traders” Group with 157K users; a notification said the Group violated polices on “adult sexual exploitation”  —  (Reuters) - Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders …
Russell Brandom / The Verge:
Ben Schoon / 9to5Google:
Darrell Etherington / TechCrunch:
Tucker Higgins / CNBC:
Akane Otani / Wall Street Journal:
Tom Warren / The Verge:
Mike Isaac / New York Times:
Sources: Facebook is developing newsletter tools for journalists and writers, including tools to help build followers, curate email lists, and offer paid subs  —  Facebook is working on newsletter tools for journalists and writers, according to three people familiar with the company's plans …
Reuters:
Sources: Hyundai executives are divided over a potential tie-up with Apple, with some raising concerns about becoming a contract manufacturer  —  SEOUL/SAN FRANCISCO (Reuters) - Executives in Hyundai Motor Co Group are divided over a potential tie-up with Apple Inc, with some raising concerns …
Wall Street Journal:
Investigators say suspected Russian hack extends far beyond SolarWinds, with ~30% of the victims having no connection to the software  —  Roughly 30% of victims are said to have no connection to the network-management company's tainted software  —  Investigators probing a massive hack …
Catalin Cimpanu / ZDNet:
Google Project Zero researcher discovers and details new security system on iOS 14 named BlastDoor, which provides an improved sandbox system for iMessage data  —  iOS 14 shipped with BlastDoor, a new sandbox system for processing iMessages data.  —  With the release of iOS 14 last fall …
Kif Leswing / CNBC:
Michael McSweeney / The Block:
Coinbase officially announces its intent to become a public company via direct listing  —  Coinbase has made official its plan to go public by way of a direct listing, according to a blog post released Thursday by the U.S.-based crypto exchange.  —  “Coinbase Global, Inc. today announced …

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