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August 2, 2022, 10:05 PM
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| Caitlin McCabe / Wall Street Journal: |
Robinhood plans to cut its headcount by ~23% over “additional deterioration of the macro environment”, after laying off ~9% of full-time employees in April 2022 — The job cuts mark the second round of layoffs for the online brokerage, which exploded in popularity during the Covid-19 pandemic
Source:
Under the Hood. More:
Engadget, CNN, NPR, PYMNTS.com, Silicon Valley Business …, Fortune, Forbes, Protocol, The Information, Blockworks, TechCrunch, Reuters, The Verge, The Rewired Soul, and Fast Company
Tweets: @ronlieber, @ahcastor, @rmac18, @menlobear, @michelezanini, @seldo, @bullandbaird, @steveclapham, and @quinnypig
| Ashley Capoot / CNBC: |
Robinhood reports Q2 revenue down 44% YoY to $318M, vs $321M est., a $295M net loss, down from $502M YoY, and MAUs down 1.9M QoQ to 14M in June 2022 — - Robinhood CEO Vlad Tenev said the company will reduce its headcount by about 23%. — The company also dropped its second-quarter earnings report … | Mengqi Sun / Wall Street Journal: |
New York's State Department of Financial Services fines Robinhood's crypto unit $30M for allegedly violating anti-money laundering and cybersecurity regulations — The New York State Department of Financial Services alleges that Robinhood violated anti-money-laundering and cybersecurity regulations
More:
The Block, The Verge, Finextra, Watcher Guru, Observer, InfoRiskToday.com, Protocol, Gizmodo, CNBC, CryptoPotato, Decrypt, Bitcoinist.com, Cointelegraph, Four Eyes Finance, The Register, CoinGape, Finbold, PYMNTS.com, Crypto Briefing, CoinDesk, Fast Company, Crowdfund Insider, CryptoSlate, and Tech News
Tweets: @carlquintanilla, @carnage4life, @lex_node, @silvermanjacob, @carnage4life, @wsjmarkets, and @seldo
| Adam Morgan McCarthy / The Block: |
MicroStrategy CEO Michael Saylor steps down and takes executive chairman role “to focus more on our bitcoin acquisition strategy”; president Phong Le named CEO — - Michael Saylor is set to step down from his role as CEO and become an executive chairman.
More:
MicroStrategy, CoinDesk, Bloomberg, CoinDesk, Decrypt, Yahoo Finance, Web3 is going just great, The Verge, Blockworks, Bitcoin Magazine, Decrypt, Cointelegraph, and Slashdot
Tweets: @saylor, @concodanomics, @cryptowhale, and @kenziesigalos
| Jason Nelson / Decrypt: |
An unknown attacker has been draining Solana and USDC wallets; blockchain audit firm OtterSec says 5K+ Solana wallets have been drained in the past few hours — “Over 5,000 Solana wallets have been drained in the past few hours,” reported blockchain audit firm OtterSec.
More:
CoinDesk, The Block, Blockworks, and Web3 is going just great
Tweets: @0xfoobar, @phantom, @solporttom, @justinbarlow, @magiceden, @milesdeutscher, @web3isgreat, @officer_cia, and @justinbarlow
| Brian Newar / Cointelegraph: |
Hackers drain nearly the entire $190.7M in crypto from the Nomad token bridge, which raised an April 2022 seed from Coinbase, OpenSea, and five other companies — Hundreds of potential exploiters appear to have drained all of the bridge's $190 million in TVL in just a matter of hours. — 57 Total views
More:
CoinDesk, SC Media, Web3 is going just great, TechCrunch, The Register, Read and Share Twitter …, Bloomberg, Reuters, Input, CertiK Blockchain …, The Verge, CNBC, Decrypt, Engadget, PaymentSecurity.io, Inside Bitcoins, The Record, Gizmodo, Chainalysis, ETH Daily, Security Boulevard, PYMNTS.com, Bitcoin News, Tech Monitor, PC Gamer, Blockworks, The Coin Crunch, CryptoSlate, Crypto Briefing, and CoinDesk
Tweets: @nomadxyz_, @0xfoobar, @nomadxyz_, @nomadxyz_, @samczsun, @xiliangchen, @mg_486662, @fatmanterra, @0xfoobar, @paradigmeng420, @el33th4xor, @mudit__gupta, @nassyweazy, @moonbeamnetwork, @moonbeamnetwork, @notifi_xyz, @samczsun, @chainlinkgod, @moonbeamnetwork, @0xfoobar, @bloombergtv, @0xmisaka, @mmasnick, @jonrog1, @nickadobos, @cwgoes, @0xfoobar, @benedictevans, @lorenzofb, @benedictevans, @levicook, @arjunbhuptani, @cl207, @dzack23, @matthuang, @andysayler, @quantstamp, @silvermanjacob, @bradwilson, @cointelegraph, and @fatmanterra
| Washington Post: |
Sources: Nancy Pelosi is set to meet with TSMC's chairman Mark Liu to discuss implementation of the Chips and Science Act during her visit to Taiwan — TSMC is building a chip factory in Arizona — and considering constructing several on the site — in a project seen as key to U.S. national security| Bloomberg: |
More:
Protocol, Nikkei Asia, Tom Merritt Tech Newsletter, TechSpot, Appuals.com, Tom's Hardware, and TechNode
Tweets: @chinabeigebook, @nikkeiasia, and @pstasiatech
| Michael Kan / PCMag: |
Court finds a former T-Mobile store owner guilty of hacking T-Mobile staff to access internal tools that he used to make ~$25M by unlocking customers' phones — Argishti Khudaverdyan was found guilty of various offenses after he stole login credentials from more than 50 different T-Mobile employees across the US.| Sarah Perez / TechCrunch: |
Match Group says Tinder CEO Renate Nyborg to leave after less than a year on the job, reorganizes app's management team, and kills crypto and metaverse plans — Dating giant Match Group announced a series of changes to Tinder's management team alongside the announcement of disappointing second-quarter earnings on Tuesday.
Tweets: @mrinaldesai
| Manish Singh / TechCrunch: |
Source: Uber plans to sell its 7.8% stake in Indian food delivery startup Zomato for $350M+ after assuming an unrealized $707M loss on the investment in H2 2022 — Uber plans to sell its 7.8% holding in Indian food delivery firm Zomato as early as Wednesday, a source familiar with the matter told TechCrunch.| Sofia Pitt / CNBC: |
More:
Wall Street Journal, Bloomberg, Financial Times, New York Times, Observer, Fortune, TechCrunch, PYMNTS.com, Fast Company, The Verge, Coinspeaker, The Guardian, Washington Post, Finbold, and Reuters
Tweets: @thestalwart, @thestalwart, @cnbc, @ldignan, @dondekojo, @treiner5, @eliotwb, @treiner5, and @sub8u
| Mitchell Clark / The Verge: |
Samsung launches its iFixit repair program, covering Galaxy S20, S21, and Tab S7+ devices; S22 flagships are not supported and the number of repairs are limited — But not its latest phones and tablets — Samsung and Fixit have launched their repair program that lets Galaxy S20, S21 …
More:
Samsung Newsroom, iFixit News, TechCrunch, Gizmodo, MobileSyrup, TechSpot, SamMobile, PCMag, How-To Geek, Engadget, XDA Developers, 9to5Google, and ZDNet
| Natasha Mascarenhas / TechCrunch: |
Y Combinator narrows its Summer cohort size by 40% to ~250 companies, down from 414 in its Winter cohort, due to a downturn in the economy and in VC funding — Technically, the accelerator is more exclusive now — Y Combinator says it has intentionally shrunk the number of startups within its accelerator for the Summer 2022 batch.| CNBC: |
AMD reports Q2 revenue up 70% YoY to $6.6B, vs $6.53B est., including Data Center segment sales up 83% YoY to $1.5B and Client segment sales up 25% YoY to $2.2B — - AMD reported earnings for the quarter ending in June that beat estimates. — The company gave a forecast for the current quarter …
Source:
Advanced Micro Devices, Inc.. More:
Thurrott, SiliconANGLE, More Than Moore, Reuters, VentureBeat, and Wccftech
Tweets: @neiltwitz, @neiltwitz, @iancutress, @greengart, @cnbctech, @patrickmoorhead, @bobodtech, @marketrebels, @manpreetkailon, @benbajarin, @cnbc, and @investorvideos
| Sofia Pitt / CNBC: |
Airbnb reports Q2 revenue up 58% YoY to $2.1B, vs $2.11B est., $379M net income, up from a loss of $68M YoY, and a $2B stock buyback program — - Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date.| BetaKit: |
Chicago-based investment research service Tegus has acquired financial data and analytics startup Canalyst, sources say for between CAD$400M and CAD$500M — Sources say deal is north of $400 million CAD. — Vancouver and New York-based capital markets data and analytics startup Canalyst … | TechCrunch: |
LA-based MarqVision, which uses AI to monitor marketplaces for counterfeits, including of NFTs, raised a $20M Series A led by DST Global and Atinum Investment — As of 2020, the clothing sector lost about $27 billion in annual sales due to counterfeits, an illicit trade that results in huge losses to both brands and buyers.| Emily Bary / MarketWatch: |
PayPal reports Q2 revenue up 9% YoY to $6.8B, vs $6.78B est., a $341M net loss; stock up 11% on news of a $15B share buyback and Elliott Management's $2B stake — Elliott has a roughly $2 billion investment in PayPal, cheering ‘unmatched and industry-leading footprint,’ as payments company beats earnings expectations
More:
Reuters, Barron's Online, Benzinga, Protocol, Paypal - Investor Relations, CNBC, and Bloomberg
Tweets: @epro and @fienixtaranova
| Eliot Brown / Wall Street Journal: |
Sources: despite a November 2019 pledge to slow down, Masayoshi Son pushed SoftBank staff into investing $38B out of Vision Fund 2 across 180+ companies in 2021 — CEO Masayoshi Son pledged to curb his aggressive investment bets yet plunged into startups last year at the market top
Tweets: @eliotwb, @mattzeitlin, @alexfrangos, and @wsj
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