The Financial Conduct Authority (FCA) in the UK recently announced new guidelines for financial services companies and social media influencers regarding the use of memes in promoting cryptocurrencies and other investments. This move comes as a response to the rise in financial scams, particularly in the cryptocurrency industry. According to the FCA, any marketing for
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Andy Bechtolsheim, co-founder of Sun Microsystems and Arista Networks, recently settled insider trading charges with the SEC that will cost him nearly $1 million. The charges stem from Cisco’s acquisition of Acacia Communications in 2019. According to the SEC, Bechtolsheim confidentially learned of the impending acquisition on July 8, 2019, and traded options of Acacia,
In the world’s largest EV market, China, Tesla is facing tough competition from domestic automakers, with Warren Buffet-backed BYD leading the pack. BYD dethroned Tesla as the world’s top EV maker in the fourth quarter of 2023, signaling a shift in the dynamics of the electric vehicle industry. Founded by Wang Chuanfu, BYD initially focused
Bitcoin made a significant spike to kick off the final week of March, surging past the $70,000 mark. The leading cryptocurrency climbed by 7% to reach $70,617.68, as reported by Coin Metrics. Joining the rally, Ether also saw a 5% jump to $3,575.01. The positive movement in Bitcoin’s price influenced a rise in various other
Apple’s CEO Tim Cook recently confirmed the launch of the Vision Pro headset in China during an interview with Chinese state media. This announcement comes after the successful launch of the virtual and augmented reality headset in the U.S. earlier this year. Cook’s statement raises questions about Apple’s strategy in the Chinese market and how
Match Group, the operator of popular dating apps Tinder and Hinge, has recently made significant changes to its board of directors. Two new members, Laura Jones from Instacart and Spencer Rascoff from Zillow, have joined the company’s leadership team. This move comes amidst reports of activist investor Elliott Management taking a stake in Match Group,
Recently, China has implemented new guidelines that aim to phase out U.S. processors in government computers and servers. This move effectively blocks chips from major U.S. companies such as Intel and AMD. The guidelines, which were unveiled on December 26 and are now being enforced, also impact Microsoft’s Windows operating system and foreign-made database software.
After a prolonged period of drought in the tech IPO market, Wall Street’s tech IPO bankers finally had a reason to celebrate this week with the market debuts of Reddit and Astera Labs. The last significant IPOs of notable venture-backed tech companies in the U.S. were Instacart and Klaviyo in September, marking a dry spell
Anthropic, the rising artificial intelligence startup, has garnered significant interest from high-net-worth investors, including sovereign wealth funds. However, the company has taken a firm stance against accepting investments from Saudi Arabia due to national security concerns. While exploring new backers to acquire the stake previously held by FTX, Anthropic’s executives have made it clear that
The Justice Department’s top antitrust official recently made a statement urging Apple shareholders to push the company to compete on the merits. This call to action comes just a day after the government filed a lawsuit against the tech giant, accusing it of engaging in anticompetitive practices. Jonathan Kanter, assistant attorney general for antitrust, emphasized