Tech Report: US cracks down on crypto and Amazon increases their cut of sales

In the weeks since the collapse of FTX, the US government is targeting cryptocurrency firms. Major crypto firms are now facing challenges securing relationships with banks. This increasingly aggressive posture could push the industry to the fringes of finance.

And Amazon is taking half of each sale from its merchants.

Amazon is squeezing more money from the nearly 2 million small businesses that sell products on its sprawling online marketplace.

According to a study by Marketplace Pulse, Amazon’s average cut of each sale surpassed fifty percent last year. This applies to the nearly two-million small businesses that sell products on their sprawling online marketplace. These Amazon merchants are hesitant to raise prices in a market of consumers who have only become more deal conscious during the pandemic.

Spotify is denying a report that Joe Rogan intends to bolt this year after his contract expires. Rogan’s future has become a topic of intense speculation, particularly in light of his relationship with Spotify management. It has “frayed,” according to the news site Semafor.

The controversial e-commerce app Temu had a big presence at the Super Bowl. The Chinese owned company is a bargain-hunter app that offers discounts on products by shipping them directly from warehouses in China. Temu has also sparked dozens of complaints to the Better Business Bureau (BBB), where customers have given it 1.81 stars out of five. It has a C rating from the BBB and is not accredited.

Categories: Tech Report, Technology