💳 Brex abandons co-CEO model (TechCrunch)
- Pedro Franceschi will become the sole CEO of the corporate card and expense management startup, while Henrique Dubugras will become board chairman.
🐜 Ant Group spent $2.9B on research last year (Bloomberg)
- Alibaba's affiliate has been boosting its R&D investment over the past three years, including a record 21.2 billion yuan (~$2.9 billion) on research in 2023. One notable investment is in its large language model BaiLing, which won approval from the Chinese government last year.
🏦 Terraform Labs agrees to pay $4.5B penalty to SEC (WSJ)
- Do Kwon's company yesterday agreed to one of the largest-ever penalties to settle a civil securities fraud lawsuit. Kwon himself agreed to pay $204 million as part of the deal.
🌚 MoonPay and PayPal integration expands to EU and U.K. (The Block)
- Clients in the United Kingdom and European Union can now buy crypto on MoonPay using PayPal. The announcement follows a similar launch in the U.S. last month.
