Crypto lender Nexo has entered into a consent agreement with the U.S. Securities and Exchange Commission (SEC) to pay a $45 million fine for offering an unregistered security in the U.S., in its "Earn Interest Product."
Why it matters: It's the latest in a string of actions by the agency that indicates any program where users deposit assets to earn interest in exchange for letting others borrow them must be registered as a security.
Maine on Thursday joined North Carolina and Wisconsin this month in barring state employees from using TikTok on government-issued devices.
The big picture: The three are the latest states to do so, joining more than 20 others, including Texas, Ohio, Maryland, New Jersey, Mississippi, Louisiana, South Carolina and South Dakota, after the FBI warned of possible threats to national security posed by the Chinese-owned social media platform.
With Digital Currency Group'sGenesis crypto lending unit said to be on the brink of a bankruptcy filing, a group of folks reassessed the risk associated with one stablecoin in the mix: the U.S. dollar-pegged Gemini Dollar.
Driving the news: Members of MakerDAO, a decentralized finance protocol that holds roughly 85% of Gemini Dollar's (GUSD) market capitalization, just voted by the narrowest of margins to maintain its holdings.
Harassment, threats and other toxic behavior from players are taking their toll on the people who make games, according to a new poll.
Driving the news: More than 75% of game creators responding to the 11th annual State of the Game Industry survey said it’s a “serious” or “very serious” issue, according to data released today.
Next month's Super Bowl in Phoenix will be a huge coming-out party for Waymo, whose driverless vehicles will transport fans from the airport to downtown venues.
Why it matters: For many Super Bowl visitors, it will be their first opportunity to ride in a driverless car.
Phoenix is the only place where Waymo robotaxis are available to the general public; San Francisco and Los Angeles will come next.
For Waymo, it's an opportunity to stress-test its service during what will be one of the city's busiest weekends of the year.
It's also a way to keep drunk drivers off the road on Super Bowl Sunday, when officials typically see a spike in deadly crashes.
Driving the news: Waymo is partnering with the Arizona Super Bowl Host Committee to incorporate autonomous taxis into fan experiences the week before and during the Big Game.
Visitors (and locals) who download the Waymo app can summon the "Waymo Driver" in an autonomous Jaguar I-PACE to pick them up from Phoenix Sky Harbor International Airport via the 44th Street and Washington PHX Sky Train Station.
They can also hail a robotaxi for rides in and around downtown.
Yes, but: The Super Bowl venue itself — State Farm Stadium in Glendale, west of Phoenix — isn't in Waymo's service area, which means fans will need to find another way to the game.
Waymo has been operating its public robotaxis in Phoenix's eastern suburbs since 2020, and recently expanded to include downtown and the airport.
Plus, Waymo won't say how many robotaxis will be in service that week — more than usual, but you might have to wait if you really want a robot driver.
What they're saying: "There's no bigger stage for our 24/7 ride-hailing service than transporting people from all over the globe to and from the airport and around downtown for the many exciting activities surrounding the Big Game," said Saswat Panigrahi, Waymo Chief Product Officer.
Forget crypto and blockchain: The tech conversation at this year's World Economic Forum in Davos is all about the rise of artificial intelligence, particularly the text-generator ChatGPT.
Why it matters: Tools like OpenAI's ChatGPT and image generators like Stable Diffusion and Dall-E have been in the works for years — but even the tech experts in the Davos crowd are shocked at just how fast they have matured.
Why it matters: Trump was banned from several social media platforms, including Facebook, Twitter and Instagram, after the Jan. 6 insurrection. He said he is now working to set up a meeting to discuss his reinstatement with Meta CEO Mark Zuckerberg.
The founder of Bitzlato, a Hong Kong-registered crypto exchange that has allegedly processed more than $700 million worth of illicit funds, was arrested in Miami Tuesday night, part of a sweeping, international effort to crack down on darknet markets.
Driving the news: The Department of Justice during a press conference on Wednesday announced charges against Anatoly Legkodymov, a Russian national. French authorities and the U.S. Treasury department's Financial Crimes Enforcement Network (FinCEN) are taking concurrent enforcement action.
Deal-making in the video game industry reached $127 billion last year, across more than 1,250 investments, acquisitions and mergers, according to a new report by Drake Star Partners.
Why it matters: Both tallies were up from 2021, demonstrating continued, intense financial interest in the sector.
There's a fresh FTX conflict — one about its bankruptcy lawyers Sullivan & Cromwell and whether the firm's legal guidance of the crypto exchange prior to its unwinding could pose a potential conflict of interest.
Why it matters: FTX's accounting shenanigans conjures up comparisons to Enron, which ended up in a battle with its own lawyers. The large, prestigious Houston law firm Vinson & Elkins drew scrutiny for its role in Enron's collapse, for not blowing the whistle, and ended up settling with the energy company.
Microsoft notified employees on Wednesday it will cut 10,000 workers, or less than 5% of its workforce, as it joins other large tech firms in paring staff after years of growth.
Why it matters: Each of these big tech workforce reductions, themselves a response to a softening economy, puts further pressure on the rest of the industry to cut costs.
As Elon Musk has thrown himself into running Twitter day-to-day and rebuilding the platform in his vision, his other companies have struggled with challenges of their own.
Why it matters: Musk's acquisition of Twitter could mark a major milestone in his career — the moment his cross-industry empire became too big and too complicated for him to run every company.
Tech's downturn is shining a spotlight on the industry's vulnerability to fast-moving trends and conflicts beyond its own boundaries.
Why it matters: Silicon Valley leaders and thinkers paint their companies and products as magical innovations that emerge from the inner logic of tech's disruptive dynamics. But the industry's cycles are usually driven by external forces.
