Techmeme
August 2, 2022, 10:50 PM

Top News

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
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
Adam Morgan McCarthy / The Block:
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:
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.
Brian Newar / Cointelegraph:
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
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 …
Sofia Pitt / CNBC:
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.
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 …

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