Business

Lawyers for Binance and founder Changpeng Zhao assert that SEC Chair Gary Gensler offered to serve as an advisor to Binance’s parent company in 2019, amid his current crackdown on crypto companies. According to documents submitted by the SEC on Wednesday, attorneys from Gibson Dunn and Latham & Watkins, both ...

In a filing made on Tuesday night, federal regulators expressed concern that the $2.2 billion worth of U.S. customer assets held by Binance, a cryptocurrency exchange, is under a “significant risk” of being misappropriated by its founder, Changpeng Zhao. The regulators emphasized the necessity of implementing a freezing order to ...

The US Transportation Department has imposed a $1.1 million (£878,000) fine on British Airways for alleged failure to issue refunds for flights that were cancelled during the coronavirus pandemic. In a legal document, the department stated that the airline did not promptly provide refunds to passengers for abandoned or rescheduled ...

Altcoins Gain Momentum as Bitcoin and Ether Stabilize On Wednesday, as Bitcoin and Ether maintained a stable position, altcoins experienced significant upward movement. Litecoin demonstrated a 5.67% increase, while XRP registered a rise of 6%, as reported by Coin Metrics. The Sandbox token experienced a notable surge of 4%, and ...

The US government plans to invest $500 million to transform metropolitan areas in middle America into new centers for tech innovation. On Friday, the Department of Commerce announced the first notice of funding opportunity (NOFO) for the Regional Technology and Innovation Hub program, also known as Tech Hubs. This initiates ...

Meta, under the leadership of CEO Mark Zuckerberg, continues to invest heavily in its metaverse initiatives while implementing cost-saving measures across its social media business. In its Q1 earnings report released on Wednesday, Meta disclosed that its Reality Labs division, responsible for developing virtual and augmented reality technologies for the ...

Toyota enters the Chinese electric car market with the launch of its first electric sedan and plans to introduce two more models next year as part of its “beyond zero” lineup. Despite being the world’s largest automaker by vehicles sold, Toyota has been slow to invest in fully electric cars. ...

Tim Cook has been optimistic about India for quite some time, and now he’s placing a significant bet on the South Asian country as Apple diverts its attention from China and increases its presence in India. However, according to analysts who spoke with CNBC, the iPhone manufacturer’s reliance on China ...

According to a recent forecast, Twitter’s advertising revenue is expected to decline by 28 percent in 2023 due to the platform’s struggles under the ownership of Elon Musk. The analysts at Insider Intelligence have reduced their earlier worldwide revenue estimate from $4.74 billion to $2.98 billion, citing a deteriorating trust ...

Due to a significant decrease in the worldwide demand for semiconductors that has led to plummeting prices, Samsung Electronics plans to reduce its chip production. Samsung Electronics, the largest memory chip manufacturer in the world, announced that it will implement a “meaningful” cut to chip production due to a sharp ...