Techmeme
January 29, 2021, 7:05 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.
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 …
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 …
Misyrlena Egkolfopoulou / Bloomberg:
Tucker Higgins / CNBC:
Akane Otani / Wall Street Journal:
Darrell Etherington / TechCrunch:
Ben Schoon / 9to5Google:
Paresh Dave / Reuters:
Bloomberg:
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 …
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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Megan Graham / CNBC:

Earlier Picks

Mike Isaac / New York Times:
Lawrence Abrams / BleepingComputer:
Catalin Cimpanu / ZDNet:
Bijan Stephen / The Verge: