Coinbase has disclosed a significant data breach that compromised customers’ personal information, including government-issued identification documents. The infiltrators behind the attack demanded a ransom of $20 million from the cryptocurrency exchange. CEO Brian Armstrong stated publicly that Coinbase will not yield to the hackers’ ransom demands.
In other significant financial developments, digital bank Chime has officially filed for an IPO this week after submitting confidential documentation in December. Although key details such as the number of shares offered or insider sales remain unclear, Chime revealed a notable marketing agreement it secured with the NBA team Dallas Mavericks in 2018, which included the placement of Chime’s logo on team jerseys.
InventWood has garnered considerable attention following its announcement of an innovative product called “Superwood,” a new type of engineered wood capable of matching the strength of steel. The company plans large-scale production from wood chips, aiming to manufacture structural beams requiring no additional finishing and adaptable to various sizes.
On the startup funding front, Granola, an AI-powered note-taking application, has just closed a substantial Series B funding round of $43 million, elevating the company’s valuation to $250 million. Although the app launched last year, its recent spike in popularity is drawing renewed investor interest.
In the ongoing U.S. antitrust lawsuit against Google, startup accelerator Y Combinator has criticized the tech giant for monopolistic practices, arguing that Google’s dominance has dampened innovation and hindered the broader startup ecosystem. YC’s statement, submitted in an amicus brief to the court, emphasized that the organization was advocating not for Google’s breakup but for measures that would restore competition.
Elsewhere, Apple unveiled a series of new accessibility updates slated to significantly enhance user experience across its products. Key additions include Accessibility Nutrition Labels, which enable users to identify accessible features within apps and games from the App Store, improvements to Braille interfaces, a newly advanced Mac magnifier, and other assistive adaptations.
Microsoft announced extensive layoffs this week, affecting approximately 3% of the company’s workforce, totaling around 6,500 employees across multiple teams and global locations. Notably, engineers bore the brunt of the cuts, especially within Microsoft’s home state of Washington, where they represented about 40% of layoffs. This restructuring comes despite Microsoft’s recent solid financial quarter, during which the company reported revenues of $70.1 billion—up 13%—and notable growth in net income to $25.8 billion.
Google announced during the Android Show that its AI assistant Gemini would soon be made available in vehicles equipped with Android Auto. This integration will enable more intuitive interactions within cars, allowing users to perform tasks such as sending messages and playing music using natural conversational language.
Adding a twist in branding decisions, streaming service Max has announced it will revert its name back to HBO Max after a series of brand shifts that previously saw it known as HBO Go, HBO Now, and later Max—returning now to a title familiar to viewers.
Meanwhile, Uber introduced “Route Share”—a shuttle-like commuter transit system with predetermined stops operating at regular intervals. The company visualizes this concept eventually adopted by autonomous vehicles as the technology continues to mature.
Lastly, in an unusual industry development, Billy Evans—partner of Theranos founder Elizabeth Holmes—is reportedly pitching a health-tech startup centered on blood testing aimed at delivering “human health optimization.”
Simultaneously, Uber continues its push into consumer loyalty programs by launching “Uber One Member Days,” a promotional week intended to boost paid subscriptions and enhance customer engagement.