Shopify Sours 📉— Shopify’s sales price tanks after a warning to investors. Crypto could threaten the stability of the global financial system. Google announced plans to modify how apps track users in Android.

Despite exceeding analysts expectations, Shopify’s stock dropped 20% yesterday after warning that revenue growth would slow in 2022 as the pandemic-era e-commerce boom ends. A new report released by the Financial Stability Board (FSB) says crypto assets, especially stablecoins, could present a significant risk for markets and calls for more regulatory oversight. Google has announced plans to overhaul app tracking on Android devices — the mobile operating system used by 70% of the world. And advertisers are worried this could hit their bottom line.

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The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.