dydx, a major player in the Ethereum ecosystem, is jumping ship to build its fourth version in another blockchain ecosystem linked to Cosmos.
Why it matters: Ethereum is the world's second biggest blockchain and is home to all the blue chip decentralized finance (DeFi) protocols. The fact that dydx, one of DeFi's blue chip applications, is jumping ship to Cosmos is a major win for that ecosystem.
Antitrust action is desperately needed to reel in the practices of Big Tech companies, especially around privacy, Google's former head of advertising said Tuesday.
Driving the news: Competition in tech is needed to ensure people are able to have private online experiences, because large companies like Google will never truly care about user privacy, Sridhar Ramaswamy said during an onstage interview with Axios in Toronto at the Collision Conference.
Veza, an enterprise cybersecurity startup focused on cloud permissions and access management, tells Axios it raised $5 million in new Series C funding from Blackstone at around a $500 million valuation.
Why it matters: Many of the most devastating hacks, like the Colonial Pipeline ransomware attack, are born of one employee having amassed access to more data and systems than they require.
Two sharp controversies confronting Google over the past week — an employment lawsuit and an ethical argument about AI — share a dimension that should give Silicon Valley pause: They both center on religion.
Why it matters: God doesn't usually turn up in the conflicts that roil tech. But at a moment when the overturning of Roe v. Wade and the rise of the Christian right are spotlighting religion's role in politics, tech giants are going to have to sharpen their spiritual radar.
A judge ruled Tuesday that Dominion Voting Systems can move ahead with a lawsuit against Fox News' parent company over its broadcasts of conspiracy theories alleging the 2020 election was rigged, Bloomberg reports.
Why it matters: Fox Corp. had asked the judge to dismiss the suit, but Delaware Superior Court Judge Eric Davis said Dominion's allegations "support a reasonable inference that Rupert and Lachlan Murdoch either knew Dominion had not manipulated the election or at least recklessly disregarded the truth when they allegedly caused Fox News to propagate its claims about Dominion."
The Justice Department on Tuesday said it has settled allegations that Meta's housing advertising system discriminates against Facebook users, with the social network agreeing to change its housing ad delivery system.
Why it matters: The settlement was obtained in the DOJ's first lawsuit challenging algorithmic discrimination under the Fair Housing Act. It will subject Meta's housing ads system to court oversight.
Tim Stokely knows this is a fraught moment to talk up his new web3 startup, a celebrity digital collectables platform called Zoop. And he doesn't particularly want to discuss OnlyFans, the pornographic social media juggernaut he built and led before abruptly leaving last December.
But when it comes to next acts, passion tops timing.
Why it matters: OnlyFans grew a multi-billion dollar business that not only leveraged sex, but also a keen understanding of how influencers and fans interact. Stokely and partner RJ Phillips, a onetime Morgan Stanley trader who later became an OnlyFans finance exec, believe they can apply those lessons to Zoop.
China's internet regulator has released a new set of draft rules that, if implemented, would impose stricter censorship of comments posted to social media platforms, MIT Technology Review reports.
Why it matters: Tighter restrictions could close off what few spaces remain for Chinese people to speak their minds online.
Snap Inc. co-founder and CEO Evan Spiegel on Monday endorsed Elon Musk's plans to turn Twitter into a "super app," or an app that provides multiple services in one mobile interface, citing Snapchat's own ambitions in that arena.
Why it matters: While some tech companies build or acquire separate apps for different services across their portfolio, like Meta or Google, Spiegel said, "We see the power in diversifying engagement across our service."
Twitter's board of directors on Tuesday urged shareholders to approve the proposed $44 billion sale of the social media company to Elon Musk.
Why it matters: Musk's proposed takeover of Twitter has remained uncertain as the billionaire has threatened to pull out of the deal, citing concerns over bots and fake accounts.
Elon Musk declined on Tuesday to say whether he'd back former President Trump in 2024.
What he's saying: "I think I'm undecided at this point about that election," Musk said during a remote interview with Bloomberg News editor-in-chief John Micklethwait at the Qatar Economic Forum in Doha.
The share of creative skills within the advertising industry has decreased by 17% over the past five years, LinkedIn CEO Ryan Roslansky said in a speech at the annual Cannes Lions creative festival in France Tuesday.
Why it matters: In prioritizing tech and data skills at the expense of creative ones, the sector has lost more talent than it has gained relative to other industries.
