In a development that sees Bitcoin gaining increasing traction in the financial world, El Salvador’s President Nayib Bukele announced during a national address that the country has passed a bill making bitcoin legal tender with effect from September 7 2021; use of the cryptocurrency will be optional. The country’s Congress has already approved Bukele’s proposal…
In a statement China’s biggest maker of cryptocurrency mining machines Bitmain said, it had suspended sales of its products in the spot market to help ease selling pressure. The development comes after Beijing imposed a ban on mining bitcoins. Bitmain said, it is looking for “quality” power supplies abroad and is looking for foreign clients…
While the U.S. House of Representatives Judiciary Committee has voted to approve a bill to give antitrust enforcers more funds but it has yet to vote on four bills aimed at reining-in Big Tech. U.S. Representative Jerrold Nadler, the Democratic chairman of the Judiciary Committee, termed the bills as a “historic package of bipartisan legislation”…
In a statement FBI Director Chris Wray has asked US companies and other victims of hacking to not pay ransom since it will only embolden and incentivize them for future attacks. “In general, we would discourage paying the ransom because it encourages more of these attacks, and frankly, there is no guarantee whatsoever that you…
On Wednesday, in a significant development, Russia’s chief of security at FSB Alexander Bortnikov said, Moscow will work together with the United States to locate cyber criminals. The FSB will follow agreements reached by Russian President Vladimir Putin with his U.S. counterpart Joe Biden. The development comes in the wake of the two heads of…
Hackers have breached the cyber defenses of a Swedish information technology firm; so far it is unclear whether the breach has resulted in the attackers gaining access to a database containing patient data, including COVID-19 test results. In a statement InfoSolutions said, it has “identified and solved what made the intrusion possible.” However, as yet,…
On Tuesday, in a statement, Starlink’s president Gwynne Shotwel said, the company expects to be able to provide continuous global coverage of internet services by around September, subject to regulatory approvals. “We’ve successfully deployed 1,800 or so satellites and once all those satellites reach their operational orbit, we will have continuous global coverage, so that…
In a statement, Volkswagen’s sports car unit Porsche AG said it is setting up a joint venture with Customcells to produce high-performance batteries which purportedly will significantly decrease battery charging times. The statement mentions that the partnership with Customcells, a company which specializes in producing lithium-ion cells, is aimed at producing car batteries with higher energy…
On Tuesday, Southeast Asian online automotive marketplace Carro said, it has raised $360 million in its latest funding round that was led by SoftBank Vision Fund 2, becoming the region’s latest unicorn. “The valuation for the company is well over a billion dollars,” said Carro, Aaron Tan, the CEO and founder of Singapore-headquartered Carro. Carro…
An executive from Huawei Technologies said, the company aims to develop driverless passenger car technology by 2025. The move sees the erstwhile Chinese telecom giant diversifying its business in the face of U.S. sanctions. “Our team’s goal is to reach true driverless passenger cars in 2025,” said Wang Jun, senior executive at Huawei’s smart vehicle…
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