TikTok just pulled off a corporate glow-up to stay in the U.S. The company launched a new American-controlled entity called TikTok USDS, with longtime exec Adam Presser stepping in as CEO. ByteDance will keep a minority stake, while Oracle, Silver Lake, and MGX take the wheel, and TikTok’s prized recommendation algorithm will now be on Oracle’s U.S. servers. The move checks Washington’s national-security boxes without pulling the plug on one of America’s most addictive apps. (CNCB)

President Trump just fired a $5B legal salvo at JPMorgan Chase and CEO Jamie Dimon, claiming the bank “debanked” him for political reasons by shutting down his personal and business accounts. JPMorgan says the case has zero merit and insists it only closes accounts that pose legal or regulatory risk. The lawsuit lands as Washington ramps up scrutiny of banks accused of cutting off conservatives and certain industries. (Reuters)

Vimeo has started laying off a “large portion” of its workforce only months after being bought for $1.38B by Bending Spoons. Neither company has shared exact numbers, but former executives say the cuts are significant. The move fits Bending Spoons’ playbook after snapping up apps like Evernote, Meetup, and WeTransfer. For Vimeo, it’s the latest twist in a long fight to stay relevant in a YouTube-dominated world. (TechCrunch)

Meta is facing fresh scrutiny in the UK. Regulator Ofcom has opened an investigation into whether the company provided complete and accurate information about WhatsApp during a review of the business SMS market. The probe focuses on data used for things like delivery alerts and appointment reminders. If Ofcom finds Meta misled regulators, it could lead to penalties or tighter oversight. (Reuters)

Capital One just snapped up fintech darling Brex for $5.15B, paying half in cash and half in stock. That’s a steep drop from Brex’s $12.3B valuation in 2023. The startup, known for combining corporate cards, banking, and spend management, serves companies like Zoom and Robinhood. Capital One’s CEO says the deal supercharges its push into business payments, even as investors sent the bank’s shares lower on the news. (CNBC)

Whitefish, Montana is in full swing for the annual Whitefish Winter Carnival. This celebration is built on the mythology of Ullr, the Norse god of snow, and his perpetual battle against a band of Yetis who hate winter fun.

The festival is a full-town theatrical event. Only days ago, the town crowned King Ullr LXVII and his Queen of the Snows, and tomorrow Prince Frey and Princess Freya will be crowned at Whitefish High School. "Viking" guards are tasked with protecting the Carnival Queen from costumed Yetis who roam the streets "abducting" bystanders and causing general havoc in the local shops and bars.

The main festival, running from February 6th to 8th, is packed with events, including a grand parade, a pancake breakfast, pie social, beer curling, skiing events, an ice sculptor contest, a hockey tournament, figure skating demonstrations, and more.

The most famous event is the Penguin Plunge, where brave swimmers — often in various costumes — dive into the freezing waters of Whitefish Lake.

This unique festival has a massive draw. Lodging in Whitefish sells out months in advance. Many of the events are free to attend or watch, while proceeds from ticketed activities like the Penguin Plunge support the Montana Special Olympics.