Technology Weekly News: New York City bans TikTok on government-issued devices
New York City is following the trend set by federal agencies and states in the U.S. by banning TikTok from government-owned devices due to security concerns. The city's spokesperson stated that all government devices must remove the app within 30 days to ensure secure usage of platforms. The New York City Cyber Command, responsible for cybersecurity, found that TikTok posed a security threat to the city's technical networks. TikTok has yet to respond to the ban. Government TikTok accounts in the city have ceased posting as a result. This move aligns with other prohibitions, such as Montana's and Maryland's, driven by concerns over potential privacy breaches and data collection. Despite claims of independence from China, TikTok remains under scrutiny for data protection.
Vietnamese electric vehicle manufacturer VinFast made a strong entry into the U.S. market with its Nasdaq listing after merging with SPAC Black Spade Acquisition. VinFast shares surged to $37.06, marking a 270% increase from the SPAC's IPO price of $10 and a 68% jump from its opening price of $22. While VinFast's market value soared to $85 billion, surpassing automakers like BMW and Volkswagen, it remains behind Tesla's $739 billion valuation. VinFast, an arm of Vingroup, aims to compete in the U.S. EV market, building a factory in North Carolina for up to 150,000 vehicles yearly.
Cultural disparities between Asia and the Western world are shaping the trajectory of the web3 gaming sector. Immutable's President, Robbie Ferguson, underscores that Asian gaming companies are driving web3 gaming due to its strong resonance with collectible-focused games prevalent in the region. This alignment has resulted in an Asia-centric emphasis on web3 gaming development. However, there exists a divergence in consumer sentiment between the West and Asia, with the latter exhibiting greater enthusiasm. Immutable's substantial investment in the crypto gaming market has borne fruit, particularly in Asia where web3 is deemed a novel facet of capitalism's evolution.?
On another note, Jacobi Asset Management has achieved a notable feat by introducing the first bitcoin spot exchange-traded fund (ETF) in Europe, following initial authorization and its subsequent launch. This achievement underlines Europe's strides in integrating crypto assets with conventional financial instruments. Conversely, the U.S. Securities and Exchange Commission (SEC) has prolonged the evaluation of comparable spot ETF applications, although futures-based bitcoin ETFs with restricted assets under management exist. The significance of the spot ETF, which acquires and retains the underlying assets, cannot be overstated—it holds the potential to channel substantial capital into the crypto realm. Approximately ten entities are vying for U.S. approval of a bitcoin spot ETF, with analysts projecting favorable odds for endorsement by year-end or the following year. This ETF could potentially serve as an entry point for a considerable portion of trillions of dollars managed by financial advisors to enter the crypto ecosystem.
London-based credit card processing company Checkout.com has terminated its contract with crypto giant Binance, ending its relationship as Binance's once-largest customer. The CEO of Checkout, Guillaume Pousaz, cited concerns over regulatory actions, compliance controls, and inquiries from partners as the reasons for the termination. Binance disagreed with Checkout's basis for the termination and expressed the intention to consider legal action. Checkout.com's abrupt move follows Binance's decision to discontinue its crypto arm Binance Connect, supported by Checkout. The separation comes as Binance faces investigations in various countries, with regulatory challenges impacting its partnerships with payment providers like Checkout.com.
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U.S. counterintelligence agencies have issued a warning to the American space industry about potential threats from foreign intelligence entities seeking to steal research and trade secrets to advance their own space programs. China and Russia are cited as leading foreign intelligence threats. The FBI, National Counterintelligence and Security Center (NCSC), and Air Force Office of Special Investigations (AFOSI) issued a bulletin detailing cyberattacks and tactics like strategic investment to gain access to the U.S. space industry. The warning emphasizes the need for vigilance against facility visit requests, information gathering at conferences, and recruitment attempts of individual employees. Chinese hackers have targeted U.S. space knowledge for years, accessing NASA and other companies. The U.S. aims to counter China's ambition to become a space leader by 2045. Companies are urged to report concerns and establish security programs.
A self-driving Cruise robotaxi in San Francisco was involved in a collision with a San Francisco Fire Department truck on Thursday night. A passenger in the Cruise vehicle suffered minor injuries and was taken to the hospital. The incident occurred when the driverless car entered an intersection with a green light and was struck by the emergency vehicle. The collision happened in the Tenderloin district around 10 PM. Cruise is investigating the incident to understand its autonomous vehicle's performance. This incident follows recent debates about self-driving cars interfering with emergency vehicles in San Francisco.
DefCon attendees in Las Vegas encountered perplexing prompts on their iPhones, supposedly from a nearby Apple TV requesting access to their Apple ID or password-protected accounts. These messages were actually generated by a homemade $70 transmitter designed to exploit Apple's Bluetooth security. The creator of this prank revealed that the intention was to expose a serious vulnerability in Apple's system, hoping for a fix. This technique could trick users into transferring passwords if they interacted with the prompts. Although this prank wasn't set up to collect data, it highlights the need to be cautious about unexpected password requests. The transmitter's hardware mimics Apple TV's low-power advertisement packet, triggering pop-ups on nearby devices. The creator doubts Apple will address the core issue due to design constraints. To safeguard against such Bluetooth incidents, users are advised to fully turn off Bluetooth in their device settings.
A class action lawsuit has been filed against Roblox in the Northern District of California, alleging that the platform facilitated child gambling. The suit claims that while Roblox prohibits gambling, third-party sites have emerged inviting users, including minors, to play games of chance using Roblox's in-game currency, Robux. The lawsuit names Roblox and specific third-party sites as participants in an "illegal gambling operation." Plaintiffs argue that Roblox's rules are misleading, as the platform appears to tolerate such third-party gambling sites. The suit alleges that Roblox profits from these activities due to its transaction fees. Roblox maintains that gambling sites are not affiliated with the company and emphasizes its commitment to a safe online experience for users.
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