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August 3, 2022, 1:55 AM
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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, NPR, Fortune, CNN, The Information, TechCrunch, Forbes, PYMNTS.com, Silicon Valley Business …, The Block, Protocol, Blockworks, The Verge, The Rewired Soul, and Fast Company
Tweets: @ronlieber, @rmac18, @menlobear, @michelezanini, @seldo, @bullandbaird, @ahcastor, @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 …
More:
Robinhood - Investor Relations, The Verge, SiliconANGLE, and CoinDesk
Tweets: @chriskeall and @karaswisher
| Mengqi Sun / Wall Street Journal: |
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Engadget, The Block, The Verge, PYMNTS.com, crypto.news, Finextra, InfoRiskToday.com, Watcher Guru, Gizmodo, Observer, CryptoPotato, The Register, Decrypt, CNBC, Four Eyes Finance, Cointelegraph, Protocol, Finbold, Forkast, Bank Automation News, CoinGape, CryptoSlate, Crypto Briefing, and CoinDesk
Tweets: @carlquintanilla, @carnage4life, @lex_node, @silvermanjacob, @carnage4life, @wsjmarkets, and @seldo
| 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 — An unknown attacker drained thousands of wallets containing at least $4 million worth of Solana and USDC late Tuesday night.
More:
CoinDesk, The Block, Web3 is going just great, Micky, CoinGape, Blockworks, Cointelegraph, CryptoSlate, and Cryptonews
| Brian Newar / Cointelegraph: |
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CoinDesk, TechCrunch, Web3 is going just great, Read and Share Twitter …, SC Media, Bloomberg, CertiK Blockchain …, The Verge, CNBC, Inside Bitcoins, Input, ETH Daily, CoinDesk, Security Boulevard, The Register, PYMNTS.com, Engadget, Bitcoin News, Chainalysis, The Record, PaymentSecurity.io, Gizmodo, Decrypt, Protocol, Tech Monitor, PC Gamer, Blockworks, and CoinDesk
Tweets: @nomadxyz_, @nomadxyz_, @0xfoobar, @nomadxyz_, @samczsun, @xiliangchen, @mg_486662, @fatmanterra, @0xfoobar, @paradigmeng420, @el33th4xor, @mudit__gupta, @nassyweazy, @moonbeamnetwork, @moonbeamnetwork, @samczsun, @notifi_xyz, @bloombergtv, @mmasnick, @jonrog1, @cwgoes, @benedictevans, @lorenzofb, @benedictevans, @arjunbhuptani, @chainlinkgod, @0xfoobar, @moonbeamnetwork, @0xmisaka, @nickadobos, @levicook, @0xfoobar, @cl207, @dzack23, @matthuang, @andysayler, @quantstamp, @silvermanjacob, @bradwilson, @cointelegraph, and @fatmanterra
| 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, Yahoo Finance, Web3 is going just great, Micky, Blockworks, Decrypt, BTC Times, The Verge, Cointelegraph, and Crypto Briefing
Tweets: @saylor, @wublockchain, @concodanomics, @cryptowhale, and @kenziesigalos
| Michael Kan / PCMag: |
A US jury finds a former T-Mobile store owner guilty of hacking T-Mobile staff to access internal tools that he used to unlock customers' phones, raking in $25M — 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
| Tom Warren / The Verge: |
NPD Group: US consumer spending on video game products fell 13% YoY to $12.35B in Q2 2022; non-mobile subscription content was Q2's only growth category — The video game industry growth has slowed down — US consumer spending on video game products has fallen by $1.78 billion in Q2, according to market research firm NPD.
More:
NPD Group, Metro.co.uk, Windows Central, Slashdot, Dot Esports, TechSpot, dot.LA, and GameSpot
Tweets: @matpiscatella, @benjisales, @bahlivern, @boundarybreak, @necksplitter, @mavriqgg, @zeuslfc, @legacykillahd, and @tomwarren
| 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.| Washington Post: |
Sources: US House Speaker Nancy Pelosi is set to meet with TSMC chairman Mark Liu to discuss implementation of the Chips and Science Act during her Taiwan visit — 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
More:
Bloomberg, Qlobal-Change, and Clandestine's Newsletter
| 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:
The Register, Thurrott, More Than Moore, Wccftech, SiliconANGLE, and VentureBeat
| 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, Financial Times, Neowin, New York Times, Fortune, PYMNTS.com, Bloomberg, Observer, Fast Company, TechCrunch, The Verge, Coinspeaker, The Guardian, Washington Post, Finbold, and Reuters
Tweets: @thestalwart, @cnbc, @ldignan, @dondekojo, @treiner5, @eliotwb, @treiner5, @sub8u, and @thestalwart
| 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.| Financial Times: |
Sources: Samsung and SK Hynix rethink their exposure to China following the US Chips and Science Act, which contains qualified “guardrails” against China — Leading Korean chipmakers re-evaluate further Chinese investments in response to Washington restrictions
Tweets: @muradahmed and @leilamechoui
| Bloomberg: |
More:
Nikkei Asia, Protocol, Tom Merritt Tech Newsletter, TechSpot, Appuals.com, and Tom's Hardware
Tweets: @chinabeigebook, @nikkeiasia, and @pstasiatech
| 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, iFixit News, TechCrunch, Gizmodo, TechRadar, MobileSyrup, How-To Geek, PCMag, Engadget, XDA Developers, 9to5Google, and ZDNet
| Wall Street Journal: |
Equifax says it fixed a “technological coding issue” that sources say sent lenders faulty credit scores on millions of US consumers from mid-March-early April — During a three-week period this year, Equifax sent faulty scores to lenders, resulting in higher interest rates and denied applications
More:
Bloomberg, CBS News, and PYMNTS.com
Tweets: @beardywheat, @amacker, @amacker, and @adam_k_levin
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