Axios

The next Sonic the Hedgehog game is getting unusually negative early buzz, demonstrating the hazards of even the most carefully coordinated marketing campaign.

Driving the news: Sega's Sonic Frontiers showed so poorly when it was unveiled in late May on IGN that some fans called for a delay past its holiday 2022 release window. Subsequent hands-on sessions with a build of the game in Los Angeles last week have produced mixed reactions.

A Shakespearean dating game published in a peer-reviewed journal takes to heart the Bard’s line that “The course of true love never did run smooth."

What’s happening: We Are Not All Alone Unhappy, the charming side project of Firaxis narrative lead Cat Manning, asks players to test the romantic chemistry between characters from various Shakespeare plays.

Five of the world's largest tech companies owned more than half (53%) of all global ad revenues last year, up from 46% last year.

Why it matters: Macroeconomic factors like inflation and rising wages are making it harder for new entrants to disrupt the ad market, analysts explain in the latest midyear ad forecast from GroupM.

Enterprise software company MicroStrategy is at risk of having to post more of its bitcoin after taking out a loan to buy more bitcoin.

Driving the news: The price of the cryptocurrency overnight briefly fell below $21,000 — a level at which the company previously said it could face a margin call. That means MicroStrategy could soon face a requirement to post more capital for its roughly $205 million bitcoin-collateralized three year term loan.

Cameras made by Chinese surveillance company Hikvision are deeply integrated into an intelligence program aimed at tracking and detaining Uyghurs and other ethnic groups in Xinjiang, according to a new report.

Why it matters: The findings add further weight to allegations the surveillance technology giant is complicit in the Chinese government's human rights abuses in Xinjiang.

Centralized crypto lender Celsius rocked its customers' worlds Sunday night after freezing withdrawals and other transactions on the platform, citing "extreme market conditions."

Why it matters: The company is testing the terms of its user agreement that allow it to close the gate on users who are pulling funds out, plus those making swaps or transfers.

Representatives from both the U.S. legislators and administration officials expressed urgency Tuesday around providing clarity to the digital asset or blockchain industry during Axios' "Crypto and the Investing Space" event.

Why it matters: If the rules in an industry are fuzzy, the bad actors are fuzzy, too.

Coinbase Global said Tuesday morning that the crypto exchange would lay off roughly 18% of its workforce, or about 1,100 full-time jobs.

Why it matters: Layoffs and rescinded job offers are starting to become more commonplace amid fears of an economic downturn leading to an extended crypto winter.

Pinterest has struck one of its largest content deals ever — a multimillion-dollar, multiyear deal with Tastemade that will result in 50 new TV shows, live videos and events, the companies tell Axios.

Why it matters: "This is the most significant partnership I'm announcing as part of my time and tenure with the company," says Malik Ducard, who joined Pinterest as chief content officer in October.

The Washington Post is looking to double down on its investment in its tech publishing arm, Arc XP, despite outside sales interest valuing the company in the low nine figures, sources told Axios.

Why it matters: The company sees more long-term value in trying to grow the business than sell it now, executives told Axios.

As a tough antitrust bill aimed at clipping Big Tech's wings gains headway in Congress, supporters and opponents are battling in the media, hoping to sway the public.

Driving the news: John Oliver devoted an entire segment to Big Tech and pending antitrust bills in Congress on Sunday night on his HBO show, "Last Week Tonight With John Oliver."

Lawmakers are making a major push on passing privacy legislation as the clock ticks down toward the midterms.

Why it matters: Congress has remained stalled on crafting privacy protections, but the latest effort comes from key lawmakers who have the power to push a bill forward.