Sam Bankman-Fried paid over $40 million to bribe at least one official in China, DOJ alleges in new indictment

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives on the day of a hearing at Manhattan federal court in New York City, January 3, 2023. David Dee Delgado | Reuters FTX co-founder Sam Bankman-Fried paid out tens of millions of dollars worth of bribes … Read more

Binance and founder Changpeng Zhao violated compliance rules to attract US users, CFTC alleges

The Commodity Futures and Trading Commission filed a complaint against crypto exchange Binance, its co-founder, Changpeng Zhao, and its former chief compliance officer, Samuel Lim, alleging that Binance actively solicited US users and subverted the exchange’s own “ineffective compliance program,” according to a filing in Illinois federal court Monday. The filing has the potential to … Read more

Lyft CEO and president to step down, former Amazon exec David Risher named as replacement

lyft‘s cofounders, CEO Logan Green and president John Zimmer, will soon step back from their day-to-day roles, the company announced on monday. David Risher, a former retail executive at amazon, will be CEO of the ridesharing company beginning April 17, when Green will step aside to serve as chair of the board. Zimmer will transition … Read more

Block shares plunge 15% after short seller Hindenburg says Jack Dorsey’s company facilitates fraud

Shares of Jack Dorsey‘s blocks plunged nearly 15% by Thursday’s close after short seller Hindenburg Research announced that the payments company was its latest short position, alleging that Block allowed criminal activity to operate with lax controls and “highly” inflates Cash App’s transacting user base, a key metric of performance . Hindenburg described Block’s internal … Read more

TikTok CEO got grilled by lawmakers from both parties on whether the Chinese-owned app can protect American privacy

TikTok Chief Executive Shou Zi Chew reacts during a session for him to testify before a House Energy and Commerce Committee hearing entitled “TikTok: How Congress can Safeguard American Data Privacy and Protect Children from Online Harms,” ​​as lawmakers scrutinize the Chinese-owned video- sharing app, on Capitol Hill in Washington, March 23, 2023. Evelyn Hockstein … Read more

TikTok CEO says China-based ByteDance employees still have access to some US data

TikTok CEO Shou Zi Chew arrives to testify before the House Energy and Commerce Committee hearing on “TikTok: Jim Watson | AFP | Getty Images TikTok CEO Shou Zi Chew told US lawmakers that China-based employees at its parent company ByteDance may still have access to some US data from the app but added that … Read more

Ex-Google employees’ AI chatbot startup valued at $1 billion after Andreessen Horowitz funding

Character.AI, an artificial intelligence start-up founded by two former Google employees, is capitalizing on venture capitalists’ unquenchable thirst for deals in technology’s hottest space. The two-year-old company said on Thursday that it raised $150 million at a $1 billion valuation in a funding round led by Andreessen Horowitz. Noam Shazeer and Daniel De Freitas, who … Read more

Virgin Orbit returning ‘small’ team from unpaid pause on Thursday to prep for next rocket launch

Virgin Orbit flew its modified Boeing 747 airplane “Cosmic Girl” with the company’s LauncherOne rocket under its wing for the first time on November 18, 2018. Virgin Orbit Virgin Orbit is returning a “small” team to work on Thursday, according to a company-wide email obtained by CNBC, as it aims to prepare for its next … Read more

TikTok CEO appeals to US users ahead of House testimony

TikTok CEO Shou Zi Chew appealed directly to the app’s users ahead of what’s expected to be a heated grilling in the US House Energy and Commerce Committee this week, in a videos posted to the platform Tuesday. Filming from Washington, DC, Chew emphasized the large scale of TikTok users, small and medium-sized businesses and … Read more

Google opens Bard AI for testing by users in US and UK

Jonathan Raa | Nurphoto | Getty Images After months of public chatter about emerging chatbots powered by artificial intelligence, Google is opening its Bard AI platform to a limited number of users. The company is officially allowing people in the US and UK to sign up for its generative AI product at, Google said … Read more

In San Francisco, some people wonder when AI will kill us all.

Misalignment Museum curator Audrey Kim discusses a work at the exhibit titled “Spambots.” Kif Leswing/CNBC Audrey Kim is pretty sure a powerful robot isn’t going to harvest resources from her body to fulfill its goals. But she’s taking the opportunity seriously. “On the record: I think it’s highly unlikely that AI will extract my atoms … Read more

Virgin Orbit scrambles to avoid bankruptcy as deal talks continue

Virgin Orbit’s LauncherOne rocket on display in Times Square, New York. CNBC | Michael Sheetz Virgin Orbit is scrambling to secure a funding lifeline and avoid bankruptcy, which could come as early as this week without a deal, CNBC has learned. The rocket builder paused operations last week and furloughed most of the company, as … Read more

Amazon to lay off 9,000 more workers in addition to earlier cuts

The latest round will primarily impact Amazon’s cloud computing, human resources, advertising and Twitch livestreaming businesses, Jassy said in the memo. Twitch CEO Dan Clancy said approximately 400 people would be let go as part of Amazon’s latest round of job cuts. Clancy pointed to the economic downturn, and said Twitch’s user and revenue growth … Read more

How a TikTok ban in the US might work

The TikTok logo is displayed outside TikTok social media app company offices in Culver City, California, on March 16, 2023. Patrick T. Fallon | AFP | Getty Images TikTok is at risk of being banned in the US if Chinese parent ByteDance won’t sell its stake. Millions of Americans who use the popular video app … Read more

Google nixes paying out remainder of maternity and medical leave for laid-off employees

A man walks through Google offices on January 25, 2023 in New York City. Leonardo Munoz | Corbis News | Getty Images Google is indicating to ex-staffers, who got laid off while on maternity and medical leave, that they won’t get paid for all of their remaining time off, according to former employees and written … Read more

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