Companies pushing to reel in Big Tech’s behavior convened at the White House Thursday to try and gin up momentum for an antitrust bill in Congress’ lame-duck session.
The big picture: After getting relatively close to passing legislation meant to thwart Big Tech’s anti-competitive practices over the summer, this marks the last tech antitrust push this Congress will have before Republicans take over the House in 2023.
The debacle at bankrupt crypto exchange FTX threw a pall over The Blockchain Association's first policy summit in D.C., Wednesday, and that conflagration is complicating hopes that the industry could finally achieve clear updates to laws and rules in the U.S.
Why it matters: "Crypto's reputation in Washington has been damaged," the association's executive director, Kristin Smith, said during remarks at the event, while urging members to stay the course.
The U.S. unit of Binance is reported to be a new possible bidder for the assets of bankrupt crypto lender Voyager Digital, a process restarted after the unwinding of FTX.
Why it matters: Opportunistic buyers are emerging amid a land grab for market share kicked off by the FTX-induced chaos.
Elizabeth Holmes on Friday will learn her punishment for defrauding investors in her failed blood-testing company, Theranos.
Why it matters: This will be the culmination of a legal case that began more than four years ago, putting Silicon Valley's "fake it 'til you make it" culture on trial.
Sam Bankman-Fried yesterday created headlines and lawyer ulcers by instigating a direct message interview with Vox reporter Kelsey Piper, in which he insulted regulators and his own accounting acumen.
What to know: It's impossible to take Bankman-Fried at his word right now, because so many of them are nonsensical. They read like the desperate pleadings of a man trapped beneath his house of concrete cards.
Qualcomm promised Wednesday that it will deliver a next-generation PC chip using technology from its Nuvia acquisition next year, even as Arm has sued to block it from such a move.
Why it matters: Qualcomm is counting on the technology not only to reinvigorate its years-long effort to crack the computer market, but also to become the core of its entire Snapdragon processor line across smartphones, computers, cars and mixed-reality devices.
Elon Musk's plan to remake Twitter by directing engineers to work "long hours at high intensity" is out of step with the lessons the software industry has learned about how to build great products.
Driving the news: Musk sent the company's workers a memo early Wednesday morning asking them to click a button committing them to Twitter's new, "extremely hardcore" environment by 5 pm Thursday — or leave the company with three months' severance.
Elon Musk on Wednesday told a Delaware judge that he plans to "reduce my time at Twitter and find somebody else to run Twitter over time."
Driving the news: Musk's recent focus on Twitter, which he took ownership of three weeks ago have sparked frustration amongst Tesla investors. One of them is suing Musk over the size of his Tesla compensation package, and the Delaware hearing was part of that lawsuit.
Top esports team TSM found itself in the midst of two of tech's biggest storms as it suspended its $210 million naming rights deal with failed crypto exchange FTX.
Driving the news: TSM announced the deal's suspension today, but initially said it was unable to remove one of the core things FTX paid for, the exchange's name in the team's Twitter handle.
Grayscale Bitcoin Trust, or GBTC, traded Thursday at a record 42% discount to the underlying value of the bitcoin it holds.
Why it matters: Many saving and investing platforms have been offering Grayscale crypto funds to customers who request exposure to digital assets. As the biggest U.S. investment fund to offer exposure to bitcoin, it would seem like a natural choice.
Airbnb is making it easier for wheelchair users to search for accessible vacation homes on the platform.
"Adapted," which shows listings with features like step-free access, is one of six new search categories the company added Wednesday as part of its Winter 2022 release.
Genesis Global Trading's crypto lending unit is the latest to suspend services amidst the fresh market rout kicked off by the public implosion of FTX.com.
Elon Musk has given an ultimatum to Twitter employees to either embrace the new "extremely hardcore" work environment or leave the company.
Why it matters: The memo comes as Musk has clashed with Twitter employees both behind-the-scenes and on social media. It is another controversial move in the dramatic saga that's unfolded since Musk announced his takeover bid.
Lawmakers from both parties who back stricter rules for handling kids' data and accounts online see an opening in the last lame-duck weeks of this Congress.
Why it matters: Passing a national online consumer privacy bill continues to be out of Congress' reach, but protecting young people online has been one of the few areas in recent decades where Congress has been able to pass new tech regulations.
Thieves are stealing paper checks from mailboxes, "washing" them with nail polish remover, and filling in new amounts and payees — causing endless grief for victims and their banks, which typically foot the bill.
Driving the news: The black market for "glass" — pilfered checks sold online, with a guarantee they'll clear at the bank — is growing more widespread and sophisticated.
/2022/11/17/1668699820664.gif?w=3840)
/2022/11/16/1668563548703.gif?w=3840)
