Tech Meme

Tanaya Macheel / CNBC: Bitcoin falls ~5% to ~$81K, ether drops 7%, and Solana falls 13% after President Trump unveiled tariffs; Coinbase’s and MicroStrategy’s shares fall by 7%+  —  Bitcoin and other cryptocurrencies were under pressure Thursday after President Donald Trump’s big tariffs reveal jolted the stock market. Lees verder op Tech Meme

Matt Levine / Bloomberg: Circle’s S-1 shows that it is a fintech and that, as of December 31, 2024, ~85% of USDC reserves were in a BlackRock-managed money market fund only for Circle  —  Circle, slangy wealth management chatbots, private credit runs, SEC climate rules and OCC desk space. Lees verder op Tech Meme

Ryan Weeks / Bloomberg: President Trump’s tariffs are set to disrupt the Bitcoin mining sector, as many of the largest miners are based in the US and the supply chain is rooted in Asia  —  Lauren Lin is in a hurry.  She has less than 48 hours to ship about 5,600 Bitcoin mining machines from Thailand to the US … Lees verder op Tech Meme

Samuel Stolton / Bloomberg: Sources: Ireland’s DPC will fine TikTok €500M+ before the end of April for illegally shipping European users’ data to China, after a lengthy GDPR investigation  —  The penalty is likely to be the third highest ever dished out by the Irish watchdog following earlier fines of €746 million … Lees verder op Tech Meme

Bloomberg: Sources: Microsoft has halted talks for, or delayed development of, data center projects in Indonesia, the UK, Australia, Illinois, North Dakota, and Wisconsin  —  The software company has recently halted talks for, or delayed development of, sites in Indonesia, the UK, Australia, Illinois … Lees verder op Tech Meme

Financial Times: Plaid raised $575M at a $6.1B valuation, below its peak $13B+ valuation in 2021, mostly to cover employees’ tax bills for those converting RSUs to common stock  —  Pioneer of open banking will use $575mn raised from BlackRock and others to cover employee taxes and share buybacks Lees verder op Tech Meme

Ryan Weeks / Bloomberg: President Trump’s tariffs are set to disrupt the Bitcoin mining sector, with many of the largest miners based in the US and the supply chain rooted in Asia  —  Lauren Lin is in a hurry.  She has less than 48 hours to ship about 5,600 Bitcoin mining machines from Thailand to the US … Lees verder op Tech Meme

Jessica Testa / New York Times: Spotify rolls out new ad tools, including an AI tool in the US and Canada to generate scripts and voiceovers, and pitches itself to advertisers as “nutritional”  —  After finally achieving profitability, the streaming platform wants to be a healthy alternative to “doom scrolling.” Lees verder op Tech Meme

Tracy Qu / Wall Street Journal: PDD-owned Pinduoduo says it plans to allocate ~$13B over the next three years to support its merchants, following other Chinese e-commerce companies  —  PDD, which also owns Temu, reported slower quarterly profit and revenue growth in the fourth quarter  —  Chinese bargain shopping platform … Lees verder op Tech Meme

Matt Levine / Bloomberg: Circle’s S-1 shows that it is basically a fintech and that, as of December 31, 2024, ~85% of USDC reserves were held in a BlackRock-managed money market fund  —  Circle, slangy wealth management chatbots, private credit runs, SEC climate rules and OCC desk space. Lees verder op Tech Meme