January 4, 2023, 4:00 PM

Top News

Vincent Manancourt / Politico:
The Irish DPC fines Meta €390M over behavioral ad data violations, giving Meta three months to resolve the issues, a significant blow to Meta's EU ad business  —  Meta faces €390 million in fines and must find a new legal route to targeted ads, while the Irish regulator is suing …
New York Times:
Coinbase reaches a $100M settlement with NY regulators over breaking anti-money-laundering laws, comprising a $50M fine and $50M for compliance; COIN jumps 12%+  —  The U.S. crypto exchange will pay a $50 million fine for letting customers open accounts with few background checks and spend $50 million to improve compliance.
Nivedita Balu / Reuters:
Memo: Salesforce plans to lay off around 10% of its staff and close some offices, expecting to incur $1.4B to $2.1B in charges for the restructuring  —  Salesforce Inc (CRM.N) said on Wednesday it would lay off about 10% of its employees and close some offices as a part of its restructuring plan …
Aaron Holmes / The Information:
Sources: Microsoft plans to release a version of Bing that uses OpenAI's ChatGPT tech to answer some search queries, possibly launching as soon as Q1 2023  —  Microsoft could soon get a return on its $1 billion investment in OpenAI, creator of the ChatGPT chatbot, which gives humanlike text answers to questions.
Chris Welch / The Verge:
Roku plans to launch its own TVs in spring 2023 across two brands, Roku Select and Roku Plus, ranging from 24-inches for $119 to 75-inches for $999  —  Roku is making big news at CES 2023: the company long known for its streaming players and easy-to-use software plans to release its own lineup of TVs this year.
Andrew Hayward / Decrypt:
NFT service Magic Eden, the largest Solana marketplace, blames a hacked image caching service after some users were served porn and TV stills instead of the NFT  —  The top Solana marketplace says there's no need to panic, and it has not been hacked.  —  Some users of Magic Eden …
Bill Toulas / BleepingComputer:
Almost twenty car manufacturers and services contained API flaws that could have allowed hackers to access customers' data and unlock, start, and track cars  —  Almost twenty car manufacturers and services contained API security vulnerabilities that could have allowed hackers to perform malicious activity …
Chris Welch / The Verge:
A look at Samsung's TV updates in 2023: Neo QLEDs converting SDR to HDR, futuristic MicroLED TVs, improvements to The Frame, and software and AI updates  —  Last year, Samsung radically shook up the TV market with the introduction of its first OLED model in many years.
Shaurya Malwa / CoinDesk:
Bonk, a Shiba Inu-themed coin on Solana issued on December 25, has risen 2,220% in the past week and 150% in the past 24 hours, offsetting some of SOL's decline  —  The memecoin is up over 150% in the past 24 hours and have recorded some of the highest trading volumes on Solana-based decentralized exchanges.
Megha Mandavia / Wall Street Journal:
A look at three pieces of Indian government legislation planned in 2023 to regulate US tech giants, mixing EU antitrust rules with China-style surveillance  —  American tech firms will face hard choices in India this year  —  The standoff between India and U.S. tech giants will intensify …
Matt Levine / Bloomberg:
The US case against alleged Mango Markets manipulator Avraham Eisenberg highlights traders treating crypto as a game, forgetting the real-world consequences  —  Mango  —  So here's a trade.  — You open two accounts on a commodity futures exchange, Account A and Account B.
Adam Morgan McCarthy / The Block:
CoinShares: inflows to crypto asset funds fell from $9.1B in 2021 to $433M in 2022, down 95% YoY, the worst year since 2018, when inflows totaled $233M  —  - Crypto asset funds saw the lowest inflows last year since 2018.  — Inflows in 2022 declined to $433 million as bitcoin plummeted over 60%, according to CoinShares data.
Kate Conger / New York Times:
Twitter begins relaxing its longstanding ban on cause-based ads in the US and plans to expand permitted political advertising in the coming weeks  —  Elon Musk's social media service said it would begin to permit cause-based advertising to “facilitate public conversation around important topics.”
Casey Newton / Platformer:
Twitter Product Engineering Lead Behnam Rezaei and Senior Director of HR Business Partner Katie Marcotte both resign; Marcotte was at Twitter for 10 years  —  ByteDance thought it had a deal with the government in August.  Then came the bans — and a spying scandal
Paul Kiernan / Wall Street Journal:
The US Federal Reserve, FDIC, and OCC warn banks that issuing or holding crypto “is highly likely to be inconsistent with safe and sound banking practices”  —  Regulators say holding cryptocurrencies is likely inconsistent with safe banking practices  —  Crypto's Crash Has Been Swift but Largely Self-Contained.
Sources: China is pausing massive investments and costly subsidies for its chip industry amid a COVID-19 wave, seeking alternatives to help homegrown chipmakers  —  China is pausing massive investments aimed at building a chip industry to compete with the US, as a nationwide Covid resurgence strains …

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