May 9, 2023, 8:50 AM

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:
Anna Nicolaou / Financial Times:
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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