Axios

Massachusetts regulators filed a complaint against online investing platform Robinhood on Wednesday, accusing the company of violating state securities laws by aggressively marketing to inexperienced investors and failing to protect customers and their assets.

Why it matters: The complaint suggests Robinhood's tactics exposed investors in the state to "unnecessary trading risks" and encouraged its customers to use the platform through “gamification.”

Texas Attorney General Ken Paxton announced Wednesday that he's leading a multi-state lawsuit against Google, accusing the search giant of taking illegal actions to hurt competition in the advertising technology market.

Why it matters: The lawsuit is yet another legal battle for Google, which is facing a Justice Department antitrust lawsuit on its search practices and imminent legal action from a separate group of state attorneys general who have also been investigating the company for anticompetitive behavior.

Facebook took down three networks of accounts that were waging online influence campaigns in Africa, which researchers linked to an infamous Russian troll farm and the French military.

Why it matters: The report offers an unusual look into an antagonistic online influence campaign that pitted two adversaries against each other in real time.

The value of bitcoin jumped to $20,000 on Wednesday morning, CNBC reports, citing Coin Metrics market data.

The big picture: The cryptocurrency almost traded above $20k in 2017, but advocates tell CNBC that institutional support from S&P Dow Jones Indices and Cboe Global Markets have put the virtual currency on an upward track.

Pipe, a marketplace for revenue-based lending, has started to let its employees sell some of their equity each year through company-managed secondary sales on the AngelList platform.

Why it matters: Shareholder liquidity continues to be a challenge for tech startups as companies remain private longer than ever before.

Security experts, businesses and government agencies are continuing their work to understand the scope of a massive cyber attack, while the finger-pointing and blame game is also picking up steam.

The big picture: Experts warn the attack could have severe repercussions given it went on for months, targeted key companies and government agencies and gained access to a wide swath of substantive information.

Technology companies including IBM, Oracle, and Salesforce are working with governments and health agencies to manage the massive task of rapidly distributing the COVID-19 vaccines.

Why it matters: It's critical to make sure the limited supply of vaccines is distributed equitably and without wasting precious doses.

Twitter on Tuesday said its shutting down Periscope, the live-streaming app that it acquired in 2015 for $86 million. It's planning to remove the app from app stores by next March.

Why it matters: Live video streaming is today a common and popular feature among most social media apps. Periscope and its rival Meerkat, which was also released in 2015, were two of the first live-streaming apps to be introduced in the U.S.

The Australian government's regulatory commission announced Wednesday it's launched legal proceedings against Facebook and two of its subsidiaries for allegedly engaging in "false, misleading or deceptive conduct" in regards to a mobile app.

Why it matters: Governments around the world are clamping down on tech giants. Australia's lawsuit is similar to one filed against Facebook last week by the Federal Trade Commission and most states, which alleges the firm illegally hurt competition by buying smaller rivals and "converting personal data into a cash cow."

The European Union Tuesday unveiled sweeping new proposals to control tech industry giants as "gatekeepers" who could be fined up to 10% of their revenue for breaking EU rules on competition.

Why it matters: Tech industry insiders tell Axios they view the proposed European laws as more restrictive than anything the companies face in the U.S. — and also tougher than anything else Europe has previously proposed.

Nearly every major app geared towards content creators has seen significant percentage increases in downloads this year, according to data from Apptopia.

The state of play: Cameo expects to make $100 million from video transactions this year, a spokesperson tells Axios. Over 1 million Cameo videos have been sold-to-date, Tens of thousands of talent now use the app to sell videos.

Intel became the latest tech company to report diversity statistics Tuesday, sharing a mixed bag of annual numbers that included small gains in some areas, relatively flat numbers of Black employees and a decline in female representation in the U.S.

Why it matters: Intel, which was one of the first Big Tech companies to commit significant dollars to addressing racial and gender inequality, has nonetheless struggled, like its peers, to make continuous and significant progress toward a more diverse workforce.

Slack is earmarking $50 million from its balance sheet to launch a new venture capital fund aimed at broadening Slack-backed investments beyond its own platform.

Why it matters: This is Slack's first solo turn at the VC game after a $25 million fund in collaboration with several of its own investors. With the pandemic confining many workers away from in-person interactions, countless companies are having to navigate a new way to operate—and new workplace apps are in the spotlight like never before.

Blade, a short-distance aviation company best known for helicopter rides from airports to city centers, agreed to go public via a reverse merger with a special purpose acquisition company (SPAC) affiliated with KSL Capital Partners.

Why it matters: Blade wants to become the first publicly traded company to offer electric vehicles in the air.

The revelation that hackers tied to Russia managed to penetrate the Treasury, Commerce and Homeland Security departments — at least — will be giving U.S. officials nightmares for a long time.

The big picture: News of the Russia-linked hack, which Reuters broke Sunday, has shaken the government and larger cybersecurity world and led some policymakers to call for retaliation against Russia.