Fidelity, a major asset management firm, has reduced the value of its investment in X (previously Twitter), now valuing the platform at $9.4 billion. This is a huge drop from Elon Musk’s original purchase price of $44 billion in 2022, with Fidelity’s stake down by 78.7% as of August. How Much Has the Investment Dropped? […]
Fidelity Cuts X (Formerly Twitter) Valuation from $44billion to $9.4 Billion Read More »
Changpeng “CZ” Zhao, the founder of Binance, has officially been released from U.S. custody on friday after completing a four-month sentence in a low-security facility. This sentence stemmed from a federal investigation that revealed Binance’s failure to prevent extensive criminal activities on the exchange, which is the largest cryptocurrency platform globally. Key Details of CZ’s
OpenAI, the Silicon Valley giant behind ChatGPT, is abandoning its nonprofit roots in favor of a for-profit model. Founded in 2015 as a nonprofit, OpenAI once prided itself on pursuing “advanced digital intelligence” free from financial pressures. But that’s changing, with the board stepping back into a minority position and full control shifting to CEO
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TikTok is facing significant challenges in avoiding a ban in the United States if its Chinese parent company, ByteDance, does not sell the popular app. As reported by Bloomberg, a three-judge panel from the US Court of Appeals for the DC Circuit expressed doubt about TikTok’s claim that a law banning the app violates its
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Bluesky, the emerging social media platform, announced on Monday that it has officially surpassed 10 million users. This impressive growth is primarily due to a recent surge in popularity following the ban of X, formerly known as Twitter, in Brazil. In a celebratory message on its platform, Bluesky posted, “If you’re reading this, you’re one
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Y Combinator, the renowned startup accelerator behind companies like Airbnb and Stripe, is set to expand its cohorts from two to four annually starting in 2025. According to a report by Bloomberg, This change means the accelerator will be active almost year-round, with new spring and fall cohorts joining the traditional winter and summer ones.
Y Combinator is expanding to Four Cohorts Per Year Read More »