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May 9, 2023, 8:50 AM
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Top News

Ryan Browne / CNBC:
Ripple CEO Brad Garlinghouse says the company will spend $200M fighting an SEC lawsuit accusing him, a co-founder, and Ripple of selling unregistered securities  —  - Ripple will have spent $200 million by the time its legal battle with the U.S. Securities and Exchange Commission is over, CEO Brad Garlinghouse said.
Ryan Browne / CNBC:
Coinbase CEO Brian Armstrong says the US SEC is on “a lone crusade”, rows back on his suggestion the company may leave the US, and expresses interest in the UAE
Anna Nicolaou / Financial Times:
Source: Spotify removed ~7% of tracks uploaded by AI music startup Boomy, or “tens of thousands” of songs, over suspicion of bots posing as human listeners  —  Platform cracks down on bots posing as listeners as flood of content rattles music industry
Bloomberg:
Nintendo expects to sell 15M Nintendo Switch consoles this fiscal year, below analyst estimates of 15.7M; the company sold 18M units in the year to March 2023  —  Nintendo Co. expects to sell 15 million units of its Switch console this fiscal year, showing the extent of the slowdown for its six-year-old flagship product.
Stephen Nellis / Reuters:
LinkedIn plans to cut 716 jobs and shutter InCareer, its local jobs app in China, by August 9, citing fierce competition and a challenging macroeconomic climate  —  LinkedIn, the social media network owned by Microsoft Corp (MSFT.O) that focuses on business professionals …
Dan Goodin / Ars Technica:
Google's passkey offering is refined and comprehensive enough to recommend, but the ecosystem is incomplete, despite PayPal, Kayak, and others using passkeys  —  The passkey ecosystem is far from complete, but Google's implementation is now ready to use.  —  By now, you've likely heard …
Nikhilesh De / CoinDesk:
Crypto exchange Bittrex files for bankruptcy in Delaware; filing: the company estimates both its liabilities and assets to be between $500M and $1B  —  Bittrex already announced its intention to exit the U.S., but also faces an SEC enforcement action.  —  Crypto exchange Bittrex has filed …
Nikhilesh De / CoinDesk:
Sam Bankman-Fried's lawyers file pretrial motions to dismiss most criminal charges against him, but not charges tied to securities fraud and money laundering  —  Bankman-Fried did not move to dismiss charges tied to securities fraud or money laundering.  —  FTX founder Sam Bankman-Fried …
Jennifer Elias / CNBC:
Internal docs: Google plans to announce generative AI updates at Google I/O on May 10, including launching PaLM 2, a general-use LLM supporting 100+ languages  —  - Google's hefty investments in artificial intelligence will be on display at its annual developer conference this week.

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From Mediagazer

Dominic Ponsford / Press Gazette:
In written evidence to the Prince Harry privacy trial, ex-Daily Mail editor Paul Dacre says allegations of phone hacking are “grave and sometimes preposterous”

Andy Sheehan / CBS News:
Local efforts to keep the Pittsburgh Post-Gazette operating appear to have stalled; one potential buyer blames owner Block's unwillingness to speak with buyers

Wall Street Journal:
The Office producer Ben Silverman's Propagate Content raised $50M from Ares Management at a $200M valuation, up 33% from 2023, as part of a creator-economy push

More News

Lynn Doan / Bloomberg:
Nick Clegg reiterates that Meta will end news content in Canada if C-18 passes and says he pulled out of a committee hearing after a session title changed

Earlier Picks

Munsif Vengattil / Reuters:
Truecaller plans to make its caller ID service available globally over WhatsApp and other messaging apps later in May to help users spot potential spam calls
Isaiah Poritz / Bloomberg Law:
A US appeals court upholds a lower court's 2019 ruling rejecting Apple's claims that Corellium's CORSEC security tool for simulating iOS violated copyright law
David Pierce / The Verge:
How Google's attempt to create a better, faster mobile web for media companies with the AMP standard ended up ruining publishers' trust in the internet giant
Akanksha Khushi / Reuters:
Binance halted bitcoin withdrawals for an hour late on May 7 and for several hours on May 8, blaming heavy volumes and an unanticipated rise in network gas fees
Ingrid Lunden / TechCrunch:
Qualcomm acquires Israel-based Autotalks, a fabless chipmaker that improves safety in bikes, cars, and other vehicles, sources say for between $350M and $400M
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