Technology
Do Kwon is unlikely to face prison time for $60 billion UST crypto wipeout — fines and lawsuits are more likely
Do Kwon, co-founder and chief executive officer of Terraform Labs, leaves the company’s office in Seoul, South Korea, on Thursday, April 14, 2022. Woohae Cho | Bloomberg | Getty Images Do Kwon, the 30-year-old South Korean founder of a $60 billion stablecoin project that imploded last month, has a knack for convincing people to buy […]
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Amazon is ‘obstructing’ probe into deadly warehouse collapse, House committee says
The site of a roof collapse at an Amazon.com distribution center in Edwardsville, Illinois. Drone Base | Reuters Members of the House Oversight Committee are alleging that Amazon is “obstructing” the panel’s investigation into a deadly warehouse collapse at one of the company’s facilities in Illinois. In a Wednesday letter addressed to Amazon CEO Andy […]
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Microsoft lowers fourth-quarter guidance, citing unfavorable foreign exchange rates
Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft shares slid more than 3% on Thursday after the company lowered its fiscal fourth-quarter guidance, citing unfavorable foreign exchange rate movement. In […]
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Piper Sandler downgrades Pinterest and Snap, says digital ad sector won’t bounce back soon
Two beaten-down internet stocks could be in for an extended struggle with the digital advertising market in flux, according to Piper Sandler. Analyst Thomas Champion downgraded Snap and Pinterest to neutral from overweight, saying that advertising-dependent stocks are not great rebound candidates for investors. “After a strong two-year stretch, digital ad spend looks to be […]
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Solana suffered its second outage in a month, sending price plunging
The logo of cryptocurrency platform Solana. Jakub Porzycki | NurPhoto via | Getty Images Solana, one of the largest cryptocurrencies after bitcoin and ether, fell more than 12% on Wednesday as its blockchain suffered its second outage in the last month. Validators in the network were not processing new blocks for several hours. Applications built […]
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Javier Olivan, who’s replacing Sheryl Sandberg at Meta, built his career on international expansion
Mark Zuckerberg, chief executive officer of Facebook Inc., right, pauses while speaking as Javier Olivan, vice president of growth and analytics at Facebook Inc., looks on at Billionaire Carlos Slim’s Telmex Foundation annual event for scholarship students in Mexico City, Mexico, on Friday, Sept. 5, 2014. Zuckerberg said he’s willing to spend whatever it takes […]
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Sheryl Sandberg was Facebook’s adult in the room, but it’s always been a Zuckerberg production
Mark Zuckerberg, chief executive officer of Facebook Inc., right, Sheryl Sandberg, chief operating officer of Facebook, left, applaud after remotely ring the opening bell for trading at the Nasdaq MarketSite from the Facebook campus in Menlo Park, California Zef Nikolla | Facebook | Bloomberg When Facebook held its Nasdaq debut 10 years ago, the prospectus […]
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Why Meta drop on Sandberg’s exit is a good chance to snap up shares
While we will miss the leadership of Sandberg — the company’s COO and No. 2 to CEO and co-founder Mark Zuckerberg — it doesn’t change our investment thesis. Source
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Former OpenSea employee charged in first-ever NFT insider trading case
U.S. prosecutors are now going after insider trading in the crypto industry. On Wednesday, prosecutors in New York’s Southern District charged and arrested Nathaniel Chastain, a former product manager at the online marketplace OpenSea. The 31-year-old faces one count of wire fraud and one count of money laundering, in connection with a scheme to commit […]
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Salesforce shares jump on upbeat results in the face of tough economy
Marc Benioff, CEO of Salesforce, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galica | CNBC Salesforce shares jumped as much as 15% on Wednesday, after the cloud software vendor maker issued better-than-expected quarterly results and lifted its full-year profit forecast. On a day when most tech stocks and the broader equity […]
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