Twitter Revenue Down 40% for Q4 2022; Binance Plan to Elude US Authorities Exposed

In today's ExchangeWire news digest: Twitter reports its revenue and adjusted earnings dropped in December 2022; A report from The Wall Street Journal has revealed that Binance planned to elude US authorities; and the FTC fines BetterHelp for sharing sensitive customer data.

Twitter revenue down 40% in December 2022

Microblogging site Twitter has reported a year-over-year decline in both revenue and adjusted earnings in December 2022. The almost 40% drop came just two months after the platform was acquired by Elon Musk, whose takeover preceded an exodus of advertisers from the platform.

Binance planned to evade US authorities

Messages and documents reviewed by The Wall Street Journal have revealed that Binance curated a plan to elude US regulators. The cryptocurrency giant’s strategy hinged upon building an American platform, Binance US, which would license the company’s technology and brand while appearing to be completely independent of Binance.com. The site would serve to protect the firm’s flagship Binance.com exchange from the scrutiny of US regulators.

BetterHelp ordered to pay millions for sharing sensitive user data

The US Federal Trade Commission (FTC) has ordered BetterHelp to pay USD$7.8m (~£6.4m) over allegations the company shared sensitive user data. The online therapy company is said to have released data on its users’ health to social media companies such as Snapchat and Meta, with the FTC’s fine serving as “partial refunds to for customers”.

New on ExchangeWire

Commerce Media: The Anatomy Of a Utility Publisher

The Road to ATS London: Industry Obsessions in 2023

Mobile, measurement, and the pivot to privacy

Fact of the Day

~2.5 million - the number of individuals who have used BetterHelp, as of February 2022.

Source: Behavioral Growth Business

Last week's tech teasers

Last week's teasers were about all things OOH & DOOH. See how much you know about one of the oldest forms of advertising below!

• USD$14.3bn (~£11.9bn) - the forecast reach of the Global DOOH advertising market by 2028 ?
• China - the country forecast to see the most ad spend for OOH in 2023 ?
• 46% - the percentage of US consumers who use a search engine after seeing an OOH ad ??
• Skoda - created a touchless interactive DOOH billboard during the Covid pandemic ?
• USD$704m (~£588m) - the drop in OOH ad spend in MENA between 2019 and 2020 ⏬

Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.