Techmeme
January 29, 2021, 7:20 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.
Wall Street Journal:
Profile of the trader known as DeepFuckingValue on r/WallStreetBets, who began investing in GameStop and explaining why in YouTube videos starting in mid-2019  —  Trader known as DeepF—ingValue on the WallStreetBets forum helped turn the investing world upside down.  “I didn't expect this.”
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 …
Ryan Browne / CNBC:
After dogecoin spiked 800%+, Robinhood halted instant deposits for crypto purchases and restricted trading in cryptocurrencies on Friday  —  - Users reported that the trading app had halted instant deposits for crypto purchases on Friday.  — Robinhood confirmed the move …
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.
Jacob Kastrenakes / The Verge:
Darrell Etherington / TechCrunch:
Akane Otani / Wall Street Journal:
Ben Schoon / 9to5Google:
Paresh Dave / Reuters:
Russell Brandom / The Verge:
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 …
Geoffrey Fowler / Washington Post:
A spot check finds some apps in Apple's App Store with inaccurate privacy “nutrition labels” that downplay how much data they send to Facebook, Google, others  —  Apple's plan to make iPhone apps be transparent about the data they take falls short of being helpful — or even accurate
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 …
Nick Statt / The Verge:
Facebook's Oversight Board is taking public comments on Facebook's decision to ban Trump and if it complied with “freedom of expression and human rights”  —  The board is taking submissions until February 5th  —  Facebook's Oversight Board, the independent body empowered to review …
Adam Satariano / New York Times:
Graphika: Huawei officials retweeted messages from fake accounts on Twitter to spread a pro-5G influence campaign in Belgium; Huawei is investigating the claim  —  A covert online push to sway telecommunications policy in favor of the Chinese company may presage a new twist in social manipulation.
Theodore Schleifer / Vox:
Chan Zuckerberg Initiative is overhauling its political program, outsourcing its advocacy work, and launching a criminal justice reform group with a $350M fund  —  The Facebook founder and his wife, Priscilla Chan, are making the largest structural change to their philanthropy since they launched it five years ago.

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