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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
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‘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
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 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 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
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 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 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
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 bard.google.com, Google said … Read more
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’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
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
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
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