Techmeme
January 22, 2022, 6:10 PM

Top News

Tracy Wang / CoinDesk:
CoinGecko: since Thursday, the cryptocurrency industry's market cap is down ~20% to ~$1.6T; Bitcoin fell ~20% to ~$34K and Ethereum fell ~30% to ~$2.3K  —  Cryptocurrencies are getting rekt.  —  Crypto blue-chips bitcoin (BTC) and ether (ETH) breached key $40,000 and $3,000 support levels …
Stefanie Marotta / Bloomberg:
Shopify confirms it canceled contracts with warehouse and fulfillment partners, but says its capacity to handle orders won't be affected; stock closed down 14%  —  Shopify Inc. plunged by the most since March 2020 after a report that the Canadian e-commerce company terminated contracts with several warehouse and fulfillment partners.
Mark Williams / The Columbus Dispatch:
How Ohio attracted Intel to build semiconductor plants, including pursuing execs for eight months, financial incentives, sustainability commitments, and more  —  It was a Christmas morning surprise for Ohio's governor and lieutenant governor: Intel was coming to Ohio.
Alana Semuels / TIME:
Alex Wilhelm / TechCrunch:
Plaid acquires Cognito, which offers ID verification and compliance services to financial firms, source says for ~$250M in cash and stock  —  Plaid, a fintech unicorn known for its APIs that connect consumer bank accounts to financial applications, announced today that it is buying Cognito.
Bloomberg:
A look at ID.me, which will soon be used to verify IRS.gov logins and claims to have uncovered a $400B theft of US pandemic unemployment payments  —  If you were writing a techno-thriller, you'd give your hero a backstory like Blake Hall's.  He's a Harvard MBA, an alumnus …
Jason Schreier / Bloomberg:
A group of 34 QA testers at Activision Blizzard's Raven Software vote to unionize with the CWA, and ask the company to voluntarily recognize their union status  —  Microsoft Corp.'s planned acquisition of Activision Blizzard Inc. will come with an unexpected and perhaps unwelcome addition: a small group of unionized workers.
Karl Evers-Hillstrom / The Hill:
Amazon spent a record $20.3M and Meta a record $20.1M on US federal lobbying in 2021, both up ~7% YoY; Google spent $9.6M, up 27%; Apple spending fell to $6.5M  —  Amazon and Meta, Facebook's parent company, spent record sums on federal lobbying in 2021 as they fought legislation to limit their expansive market power.

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Earlier Picks

Kim Lyons / The Verge:
Zac Bowden / Windows Central:
Bloomberg:
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