While Do Kwon remains in Montenegro awaiting extradition, the SEC’s lawsuit against him and Terraform Labs has concluded, with the jury ruling (PDF) they acted recklessly and are liable following the UST stablecoin’s collapse in 2022. Reuters reports the agency is seeking civil financial penalties and bans on both Kwon and Terraform.
Wired writes that Zen Goziker says he has met with Congressional staff members to share concerns about TikTok’s data practices and claims to be the source for multiple articles about the company and “Project Texas” based on his experiences working there for six months.
The article also says:
He asserts that he was put under 24-hour surveillance by TikTok and the FBI while working remotely in Mexico. He claims that US attorney general Merrick Garland, director of national intelligence Avril Haines, and other top officials “wickedly instigated” his firing. And he states that the FBI helped the CIA share his private information with foreign governments. The suits do not appear to include evidence for any of these claims.
With crypto prices high, it’s apparently time for Ripple — while battling an SEC lawsuit — to launch its own stablecoin in the US. If you’re not familiar with stablecoins, we have an explanation about these financial instruments that help crypto transactions flow.
Ripple says that, unlike the algorithmic UST coin that crashed, its stablecoin will be “backed by a 1:1 reserve of cash and cash equivalents” and that it “will publish monthly attestations of the assets.”
Yesterday, the NYT said there were discussions of entering exclusive talks, and now multiple outlets report the companies have entered a 30-day exclusive negotiating window. Bloomberg even says, “Shari Redstone, Paramount’s controlling shareholder, has reached a tentative agreement to sell her stake to Skydance.”
The hold up now is apparently the second step of Paramount and Skydance reaching a merger agreement. As for other hopefuls, Variety reports a $27 billion all-cash bid from the private equity firm Apollo was declined.
The latest entrant into the world of FAST (free ad-supported streaming, like Tubi and Pluto TV) is the NBA. Today it’s introducing the new, free, channel and the NBA Zone that will be exclusive to the Roku Channel for a limited time.
While it might try to upsell viewers to an NBA League Pass subscription, the only live games in it will be from the G League this season, along with highlights, classic games, and more.
Paramount still hasn’t settled on a partner, but the New York Times reports negotiations with Skydance over a possible merger have reached the step of “discussing entering into exclusive talks.”
Now that the parent company of Truth Social has completed its merger, its financial situation is becoming clearer.
Reuters and CNBC reported on this filing showing revenue of $4.1 million for 2023, while the annual report notes “TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern.”
TMTG’s stock closed the day down 21 percent from its opening price.
No, Tinder isn’t hiring someone to track down matches who suddenly stopped responding. That’s a good thing for the “ghosters, breadcrumbers, zombies, submariners, and slow-faders” among us, because avoiding uncomfortable conversations is probably what they’re going for.
