US Senator Amy Klobuchar, the AICO’s primary sponsor, says an “incredible onslaught of money” to fund ads against the bill has been an obstacle to passing it (Bloomberg)

Jon Swartz / MarketWatch:
Meta plans to consider removing news from its platform if Congress passes Senator Klobuchar’s “ill-considered” Journalism Competition and Preservation Act  —  Bill would allow news organizations to band together to negotiate for a larger share of online advertising revenue

Stephanie Murray / The Block:
John Ray III tells the House that FTX has a “paperless bankruptcy” due to an “unprecedented” lack of documentation, FTX and Alameda were not distinct, and more  —  – New FTX CEO John Ray III said top executives at FTX had “free rein” over the company’s many entities.

Dan Primack / Axios:
Source: Tiger Global seeks to raise $6B for its next fund that invests in privately held tech companies, less than half of what it raised for its prior fund  —  Tiger Global is seeking to raise $6 billion for its next fund that invests in privately-held tech companies, according to an investor letter viewed by Axios.

Jay Peters / The Verge:
Hands-on with Netflix’s Basic with Ads: while most shows have pre-roll ads, mid-roll ads are more unpredictable; many popular shows are locked to higher tiers  —  Clicking into something on Netflix’s new ads tier is a roll of the dice: you never know how many ads you might have to sit through.

Ken Sweet / Associated Press:
A report by Senator Warren’s office: fraud and scams are occurring more often on P2P payments app Zelle, with banks only reimbursing ~47% of defrauded customers  —  Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according …

Manish Singh / TechCrunch:
India says it will set up a Grievance Appellate Committee with the veto power to reverse the content moderation decisions of social media companies  —  India will set up grievance committees with the veto power to reverse content moderation decisions of social media firms, it said today …