Coinbase, a cryptocurrency exchange, has been under regulatory scrutiny in the United States. The industry had a grim year, with major companies such as FTX and Terra failing, prices plunging, and investors losing billions of dollars in the process. The U.S. Securities and Exchange Commission (SEC) served Coinbase with a Wells Notice earlier this year,
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Tesla CEO Elon Musk and Texas Governor Greg Abbott joined forces on Monday to break ground at the site of Tesla’s new lithium refinery in Corpus Christi. The electric vehicle manufacturer has pledged $375 million to build the facility, which is expected to help secure a domestic supply of lithium hydroxide, a crucial ingredient needed
The House Judiciary Committee Chair, Jim Jordan, has threatened enforcement action against Google. Jordan is seeking documents from the company to learn about communications between tech companies and the Biden administration. Google’s compliance so far has been called ‘insufficient’ and Jordan has demanded more information. If the company fails to comply fully by its new
Google’s annual developer conference is set to take place on Wednesday, with artificial intelligence (AI) being the central theme. The company is planning to announce several generative AI updates, including launching a general-use large language model (LLM). Details of the Announcement According to internal documents seen by CNBC, Google will unveil PaLM 2, its most
Like the rest of the world, Singapore has seen layoffs in the tech industry. Online marketplace Carousell and Shopee cut 10% of their staff in December and November, respectively. However, despite the downsizing, Singapore continues to invest in tech skills. Efforts to hire and train tech talent in both tech and non-tech sectors are still
According to Elliot Han, who leads Cantor Fitzgerald’s crypto, blockchain, and digital assets investment banking, institutional investors may have lost interest in crypto, but their interest is still there and may even be maturing. Han believes that those who have remained in crypto are exploring its different use cases, and there is a lot of
Palantir Technologies, a software company known for its work with the US government, reported a revenue of $525 million for Q1 2021, up 18% YoY and exceeding analysts’ expectations. Palantir’s US commercial revenue grew 26%, with the number of US commercial customers increasing 50% YoY from 103 to 155. Adjusted earnings per share (EPS) for
Tesla CEO Elon Musk has been urged by a group of Democratic Senators to end the company’s use of forced arbitration clauses in employee and customer contracts. The senators, including Richard Blumenthal, Sherrod Brown, Dick Durbin, Ed Markey, Jeff Merkley, Bernie Sanders, and Elizabeth Warren, claim that such clauses have allowed workers’ complaints of racist
Bitcoin and Ether both experienced drops in their prices. Bitcoin fell 5.3% to $27,420.73 and Ether fell 4.3% to $1,833.72. The price drops were in response to reports from a major crypto exchange highlighting “congestion” on the Bitcoin network. Bitcoin Network Struggles with Scale Reports from Binance, one of the biggest crypto exchanges in the
In a recent fireside chat with CNBC’s Dan Murphy at the Dubai Fintech Summit, Ripple CEO Brad Garlinghouse revealed that the company will have spent $200 million defending itself against a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) by the time the case is over. The SEC accuses Ripple, Garlinghouse, and co-founder