Coinbase fires 950 people amid Crypto Meltdown

Here are the top trending stories from the world of technology. Stories that we feel every tech enthusiast should keep a tab on.

1)

Coinbase fires 950 people amid Crypto Meltdown

Leading crypto exchange Coinbase earlier this week handed over pink slips to almost 950 people, which constitutes nearly 20% of the company’s workforce. This is the second time that the crypto exchange has opted for mass layoff in last one year, after the company fired almost 1,100 employees in June last year. Coinbase’s CEO Brain Armstrong also announced that the company would be shutting down several products as part of the cost-cutting measure. The crypto industry, overall, is currently going through a tough phase due to the recent bloodbath in the crypto market. The last year’s FTX scandal has equally added to the negative sentiments in the crypto industry.

2)

Microsoft in talks to make Strategic Investment in ChatGPT

Microsoft in pursuing talks to invest $10 billion in ChatGPT’s parent company OpenAI, according to people familiar with the matter. This development has come at a time when ChatGPT’s latest software update has caused a sensation in the online and tech world. As per the unconfirmed reports, Microsoft along with the interested venture capital firms are likely to value the firm at around $29 billion. Sources privy to the matter claim that Microsoft is pursuing a complicated deal that will give the tech giant a 49% stake in OpenAI once the company recovers its complete investment. With AI considered as the next frontier in technology, Microsoft, Google and other tech behemoths are leaving no stone unturned in making strategic investment in artificial intelligence.

3)

YouTube will soon start sharing ad revenue with Shorts Creators  

YouTube is all set to unveil revenue sharing program for Shorts creators. Starting this week, the streaming platform will be rolling out a new Partner Program agreement that will officially come into effect on February 1. YouTube has said that creators with minimum 1,000 subscribers and more than 10 million views on Shorts over the duration of 90 days are eligible for this program. With YouTube now almost implementing the monetization program for the Short creators, it will be interesting to see whether YouTube Short’s monetization strategy will help it to compete better with TIkTok, which is the undisputed leader in the short video niche.

4)

Facebook & YouTube Bans Content supporting Brazil Attack

Facebook and YouTube announced earlier this week that they have imposed complete ban on content expressing unilateral support or praising the recent ransacking of Brazilian government buildings by the supporters of the former President Jair Bolsonaro. The last week’s riots in Brazil had uncanny similarities to the last year’s Capitol Hill riots, which saw thousands of Donald Trump’s supporters thronging the Capitol Hill building as they refused to accept the result of the US presidential election. Ever since losing the last year’s bitterly fought presidential election, Bolsonaro and their supporters have been crying foul over the election result.

5)

Seattle Schools has sued TikTok & Meta (here’s why)

Seattle Public Schools have filed a petition against tech giants TikTok, Facebook, Instagram and Youtube, alleging them of being responsible for rapidly spreading mental health issues among the American teens and youth. The lawsuit filed in one of the US district courts categorically claims that today’s social media platforms are causing depression and anxiety among the teenage and young population, which invariably reflects poorly in their academical performance and grades. Critics of social media platforms have long accused of the negative impact it has on the teenage and youth population.