Technology

A New Crackdown on Crypto

July 1, 2022
TechCrunch, coindesk.com, Reuters
The context
The Commodities futures trading Commission charged the South African bitcoin company Mirror Trading International Proprietary Limited over a record-breaking $1.7 billion Ponzi scheme.
A New Crackdown on Crypto

Huge bust

  • The charges allege that MTI and its CEO ran a fraudulent commodity pool of Bitcoin by soliciting the coin from thousands of bitcoin holders, including 23,000 Americans.
  • MTI had promised users it would invest the coins in the pool but instead embezzled the funds and misled users of the platform by using a fake broker and fronting false documents about profits.
  • The case is the largest cryptocurrency Ponzi scheme the CFTC has ever tackled.
Go deeper →

Steynberg's scheme

  • The CEO of MTI, Cornelius Johannes Steynberg, amassed 29,421 bitcoin from thousands of people. All of which the CFTC claims were misappropriated.
  • He claimed that MTI used an AI trading bot that allowed users to earn income on their Bitcoin passively. In reality, the bot did not exist, and the company was not properly licensed to be wheeling and dealing Bitcoin.
Go deeper →

Already underwater

  • The scheme ran from May 2018 to March 2021, when MTI filed for bankruptcy and started the liquidation process.
  • The CEO of MTI was detained in Brazil on an existing Interpol warrant, and the company has yet to make any statement about the charges.
Go deeper →

Today’s trending stories distilled into one-minute bites

Delivered to your inbox, daily

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

What else is going on?

Technology

FCC Tackles Space Debris

September 29, 2022
Go deeper
 →
The context
The FCC ruled today that satellites must stop orbiting within five years of ending their mission.
Technology
Thursday, September 29, 2022

FCC Tackles Space Debris

The context
The FCC ruled today that satellites must stop orbiting within five years of ending their mission.
Go deeper
 →

Off to the ether

  • Satellites in low Earth orbit will have to exit their Earth orbit five years after their mission end date.
  • The FCCs ruling aims to prevent space debris from clogging up the skies.
Go deeper →

Unanimous decision

  • The FCC unanimously voted to adopt the new rules.
  • More than half of the 10,000 satellites launched since 1957 no longer work, and they clog the skies, which makes space exploration challenging. It is expensive and difficult to avoid space debris, so the new regulations will make space exploration easier.
Go deeper →
Technology

Meta Enters a Freeze

September 29, 2022
Go deeper
 →
The context
Meta announced that Meta is entering a hiring freeze and warned employees that the company intends to restructure and cut costs, prompting fears of impending layoffs.
Technology
Thursday, September 29, 2022

Meta Enters a Freeze

The context
Meta announced that Meta is entering a hiring freeze and warned employees that the company intends to restructure and cut costs, prompting fears of impending layoffs.
Go deeper
 →

Zuckerberg's thoughts

  • Mark Zuckerberg announced the freeze, the beginning of a new era for Meta.
  • Meta intends to slash the budgets of various teams.
  • In July, he cautioned Meta employees that the company was restructuring to cut costs.
Go deeper →

Lean and mean

  • Zuckerberg made the announcement during a weekly all-hands Q&A session.
  • He said the decision was made to keep teams lean in order to make it through the anticipated economic downturn.
Go deeper →
Technology

Stadia to Shut Down

September 29, 2022
Go deeper
 →
The context
Google announced it will shut down its cloud gaming service, Stadia, on January 18th, 2023.
Technology
Thursday, September 29, 2022

Stadia to Shut Down

The context
Google announced it will shut down its cloud gaming service, Stadia, on January 18th, 2023.
Go deeper
 →

No more Stadia

  • Stadia struggled to take off after it launched only a few years ago.
  • Rumors circulated that Google would be taking the service down after the number of games released on the platform began to slow, and Google shut down the game development studio that fed games to the platform.
  • Google denied the rumors but announced today that they are shutting down the platform.
Go deeper →

Poor takeoff

  • Google will refund users who purchased games or hardware from Stadia through mid-January.
  • The company said it decided to end the service because it failed to take off with users.
Go deeper →
June 8, 2022

This Week In Technology June 2nd

This week, the COO of Meta, Sheryl Sandberg, is stepping down, Elon Musk demanded employees return to the office, and Clearview AI got some bad news.
 This Week In Technology June 2nd
Learn more
 →
Sources: 

COO No More

Sheryl Sandberg, the COO of Meta (Facebook), announced she would be stepping down after 14 years.

Go deeper →

Tesla's Back In the Office

Elon Musk declared that Tesla workers should return to the office full time or get lost.

Go deeper →

Facial Technology Clampdown

Privacy watchdogs and AI innovators disagree on the way forward for facial recognition technology.

Go deeper →
Entertainment
May 19, 2022

This Week in Entertainment

The defamation trial of actress Amber Heard and actor Johnny Depp raged on and singer Eric Clapton’s European tour is on hold.

This Week in Entertainment
Learn more
 →
Sources: 
ABC, Newsweek, Fox News, Billboard, The Hill, CNN

Ongoing: Amber Heard V. Johnny Depp

May 20th, 2022 

Actor Johnny Depp is suing his ex-wife, actress Amber Heard, for defamation over an op-ed penned by Heard about her experience with domestic abuse. The op-ed is allegedly about her marriage to Depp. 

Clapton on Hold

May 18th, 2022

Guitarist and singer Eric Clapton announced that he would cancel two shows on his European tour after testing positive for Covid-19. 

Try something new

Go back in time

Politics

Student Loan Reversal

September 29, 2022
Go deeper
 →
The context
Today, the Department of Education quietly ended a program that allowed borrowers with privately held FFEL or Perkins loans to consolidate their debt with the Department and qualify for student loan forgiveness.
Politics
Thursday, September 29, 2022

Student Loan Reversal

The context
Today, the Department of Education quietly ended a program that allowed borrowers with privately held FFEL or Perkins loans to consolidate their debt with the Department and qualify for student loan forgiveness.
Go deeper
 →

Scaling back

  • The Biden administration quietly repealed student loan forgiveness for millions of Americans whose federal student loans are owned by private companies.
  • The decision was made over fears that private companies would legally challenge the program.
  • The Education Department said in August that borrowers with loans held by private lenders would be able to consolidate their debt into a new loan made by the Education Department, allowing them to qualify for loan forgiveness. Today was the deadline for borrowers to do so.
Go deeper →

Forward looking

  • As of the end of today, borrowers with FFEL and Perkins loans will no longer be able to consolidate their under a loan with the Education Department, disqualifying them from student loan forgiveness.
  • Limiting the number of FFELs borrowers who qualify for loan forgiveness may make them less likely to legally oppose debt relief.
Go deeper →
Politics

Harris in South Korea

September 29, 2022
Go deeper
 →
The context
Vice President Kamala Harris visited the Demilitarized zone between South Korea and North Korea today and slammed North Korea for escalating missile testing.
Politics
Thursday, September 29, 2022

Harris in South Korea

The context
Vice President Kamala Harris visited the Demilitarized zone between South Korea and North Korea today and slammed North Korea for escalating missile testing.
Go deeper
 →

Condemned tests

  • Harris condemned North Korea's weapon tests from Seoul today. The tests are the second since Sunday, and the U.S. and South Korea responded by conducting a military drill off South Korea's shoreline.
  • This is Harris's first trip to the Demilitarized zone between North and South Korea.
Go deeper →

DMZ visit

  • North Korea fired two short-range ballistic missiles on Wednesday and one on Sunday. Harris was in Japan on Wednesday.
  • North Korea has launched a record number of missiles this year.
  • The alliance between South Korea and the U.S. has been strained recently, thanks to the increased military show from North Korea and a provision in the Inflation Reduction Act that will make it harder for the Korean automaker Hyundai to sell electric vehicles in America.
Go deeper →
The context
The White House convened experts on hunger in the U.S. today for a conference to discuss how to approach the administration's effort to end hunger in the country in the next decade.
Politics
Wednesday, September 28, 2022

White House Aims to End Hunger

The context
The White House convened experts on hunger in the U.S. today for a conference to discuss how to approach the administration's effort to end hunger in the country in the next decade.
Go deeper
 →

Focused on partnerships

  • The Biden administration has partnered with a variety of members of the private sector to help end hunger in America by 2030.
  • Some of the partners include Novo Nordisk, Publix, Danone, and Meijer. The partners have made multimillion-dollar commitments to expanding food access for Americans through food distribution programs or discounts.
Go deeper →

McGovern's role

  • The Biden administration is leaning heavily on legislation modeled and proposed by Representative Jim McGovern. McGovern lobbied and pushed the administration to host the conference.
  • Some of the policies discussed at the conference will require Congress to pass legislation, which could complicate the administration's goal if the Republicans take the House in the midterms.
Go deeper →
Technology
May 19, 2022

This Week in Tech

Meta caught the attention of researchers and investors. Sony released new earbuds that caught many a gearhead’s attention, and the DOJ declared it would no longer charge “good faith” hackers who partake in security research. 

This Week in Tech
Learn more
 →
Sources: 
Fortune, Microsoft News, Euronews, TechCrunch, TNW, Gizmodo, CNET, Vice

Meta-Maniacs

May 18th, 2022

Zuckerberg’s brainchild, the Metaverse, struggles to find lift-off on the markets with mixed results. 

Learn More

Sources: Fortune, Microsoft News, Euronews

Sony’s New Earbuds Hit The Market 

May 18th, 2022

Sony’s the name on everybody’s lips today as they announced they are releasing a $200 wireless earbud, and social media is aflame with reviews for their noise-canceling earphones.

Learn More

Sources: TechCrunch, TNW, Gizmodo

Good Day To Be a Good Faith Hacker

May 19th, 2022

The DOJ announced on May 19th that they would no longer prosecute so-called “good faith hackers” under the Computer Fraud and Abuse Act. The decision protects hackers who expose security flaws in the interest of public good. 

Learn More

Sources: TechCrunch, CNET, Vice

Delivered to your inbox, daily

This site is powered by

Learn more about how this site was built
 →
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Follow us