Your Tech Story

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Elon Musk

Elon Musk starts banning critical journalists from Twitter

Several Elon Musk-critical journalists have been blocked by Twitter.

Elon Musk, Twitter’s new owner and self-described freedom of speech absolutist, made a big effort to restrict the press on Thursday evening when he suspended the Twitter accounts of several prominent journalists.

Elon Musk
Image Source: theverge.com

In the midst of his spat with Sweeney and the now suspended @ElonJet account controlled by the teen, Musk had threatened to suspend any Twitter accounts that published real-time information on a person’s location.

The accounts of Donie O’Sullivan of CNN, Ryan Mac of The New York Times, Drew Harwell of The Washington Post, and other reporters who have actively covered Musk in recent weeks have all been abruptly and permanently suspended.

Read More: Elon Musk sells another $3.58 billion of Tesla shares

Musk stated that the journalists had broken his new “doxxing” policy by disclosing his “exact real-time” location, which amounted to what he called “assassination coordinates,” in a series of intermittent tweets. Musk’s precise real-time location didn’t appear to be provided by any of the journalists who were banned.

Thursday night, CNN issued a statement denouncing the “impulsive and unjustified” suspension of O’Sullivan and others from Twitter. CNN noted, “Twitter’s increasing instability and volatility should be of incredible concern for everyone who used Twitter. We have asked Twitter for an explanation, and we will reevaluate our relationship based on that response.”

Musk later reaffirmed his allegation that he had been doxxed in a Twitter Spaces hosted by a BuzzFeed journalist. Shortly before his suspension, O’Sullivan posted on Twitter that the social media platform had suspended the account of Mastodon, an up-and-coming rival social media platform, allowing @ElonJet, an account that updates the location of Musk’s private jet.

Doxxing is the act of publicly disclosing a person’s home address or other private information online. However, the banned Twitter account had tracked Musk’s plane using openly accessible flight data that is still available online.

The restrictions raise several concerns about the platform’s future, which has been dubbed a “digital town square.” The suppression of journalists by Musk raised serious concerns about his alleged support for free expression.

Musk has stated numerous times that he wants to allow all legitimate expression on the platform. He had tweeted, “I hope that even my worst critics remain on Twitter because that is what free speech means.”

Climate activists commonly utilize accounts like ElonJet to highlight the severe environmental impact that private jets have. Taylor Swift, Kim Kardashian, Kylie Jenner, and Elon Musk have all faced criticism this year for utilizing aircraft when more environmentally friendly alternatives might be employed.

Musk has long objected to the live sharing of his private jet’s whereabouts. He even went so far as to make the @ElonJet account manager an offer of thousands of dollars to take the account offline at one point.

After Twitter announced new rules barring accounts that track users’ real-time whereabouts, the @ElonJet handle, which had accumulated over 500,000 followers, was indefinitely suspended on Wednesday. Musk also deleted any accounts that included links to such data. Earlier, Twitter had no limitations regarding location sharing.

The modifications followed Musk’s decision to reinstate past Twitter policy violators and cease enforcing the restrictions on Covid-19 disinformation.

Andrew Grove

Andrew Grove: Man behind the success of Intel Corporation

Andrew Grove was an American entrepreneur, engineer, and novelist who was born in Hungary. At the age of 20, he fled communist-run Hungary and relocated to the US, where he completed his education. Later, he was appointed CEO of Intel Corporation, where he played a key role in building the business into the largest semiconductor producer in the world.

Andrew Grove
Image Source: cnbc.com

Early Life

Andrew Grove was born in Hungary and spent a significant portion of his early years evading the Nazis by using a false identity. Grove fled the 1956 Hungarian Revolution for Austria and immigrated to the USA together with thousands of people from Eastern Europe.

Andrew Grove came to the United States in 1957 with very little money and minimal English language proficiency. While attending City College of New York to study chemistry, he had a job as a busboy. He did well in every other subject but English, in which he received mediocre grades.

At the Shockley Semiconductor Laboratory in California, a group of disgruntled researchers led by William Shockley included Gordon Moore, Bob Noyce, and Andy Grove. But Shockley’s poor leadership style led to discontent among his research group. They ultimately disbanded and started their own business, Fairchild Semiconductor.

Grove began working for Fairchild Semiconductor as a researcher after receiving his Ph.D. in 1963. By 1967, he had advanced to the position of assistant director of development. He became acquainted with the early stages of integrated circuit research through his work there.

Success Story

In 1968, Robert Noyce and Gordon Moore co-founded Intel, after they and Grove left Fairchild Semiconductor. Grove started off as the business’s director of engineering and assisted with setting up its early manufacturing processes. In 1997, he subsequently take over as chairman and CEO of the business, helping Intel along the road to becoming one of the key players in the information economy and a billion-dollar firm.

Even though Intel invented the majority of the memory types in use at the time, including EPROM, Grove was forced to make significant changes in 1985 as a result of declining demand for their memory chips caused by the Japanese “dumping” of memory chips at prices below cost.

As a result, he decided to stop making DRAMs and concentrate on building microprocessors. Grove and Earl Whetstone, Intel’s sales manager to IBM, were instrumental in convincing IBM to only utilize Intel microprocessors in all of its new personal computers. In 1979, Grove was named Intel’s president.

He later became the company’s CEO in 1987 and its chairman of the board in 1997. In its first year, the company’s revenue was $2,672; and in 1997, it increased to over $20.8 billion. Grove is recognized for transforming Intel from a memory chip manufacturer into the leading global manufacturer of microprocessors for personal computers, servers, and general-purpose computing.

Andrew Grove oversaw a 4,500% gain in Intel’s market value from $4 billion to $197 billion during his time as CEO, elevating Intel to the seventh-largest corporation in the world with over 64,000 employees. The majority of the corporation’s profits were put back into R&D and the construction of additional facilities in order to create better and faster microprocessors.

TikTok

US Senate passes bill to ban TikTok on government devices

A bill prohibiting federal employees from using the Chinese-owned short video-sharing app TikTok on devices owned by the government was approved by the U.S. Senate late on Wednesday by voice vote.

The bill, which was supported by Senators Josh Hawley of Missouri, Tom Cotton of Arkansas, Rick Scott of Florida, and Marco Rubio of Florida, was approved by senators unanimously on Wednesday night.

TikTok
Image Source: engadget.com

Hawley noted, “TikTok is a Trojan Horse for the Chinese Communist Party. It’s a major security risk to the United States, and until it is forced to sever ties with China completely, it has no place on government devices. States across the U.S. are banning TikTok on government devices. It’s time for Joe Biden and the Democrats to help do the same.”

Before being brought to President Joe Biden for approval, the bill still must be passed by the US House of Representatives. Before the current congressional sitting ends, which is anticipated to happen next week, the House of Representatives would have to pass the Senate bill.

The decision is the most recent move by American lawmakers to impose sanctions on Chinese firms amid concerns about national security that Beijing would use them to surveil Americans. The Senate took this decision after North Dakota and Iowa joined a rising number of American states this week in barring TikTok, owned by ByteDance, from state-owned devices out of worry that data would be given to the Chinese government.

Read More: Former FTX CEO Sam Bankman-Fried arrested in the Bahamas

In August 2020, legislation to prevent TikTok from being used on government equipment was unanimously enacted by the Senate during the previous Congress. Senator Josh Hawley of the Republican Party, the bill’s sponsor, revived it in 2021.

TikTok is already prohibited on devices used by many governmental institutions, including the Defense, Homeland Security, and State departments. As previously stated by Hawley, “TikTok is a major security risk to the United States, and has no place on government devices.”

Governors of North Dakota and Iowa have issued orders forbidding executive branch departments from installing the app on any technology provided by the government. Similar measures have been taken by almost a dozen American states, including Alabama and Utah this week.

TikTok, which has over 100 million users in the USA, dubbed the action as a “politically-motivated ban that will do nothing to advance the national security of the United States”.

As part of the national security assessment that was started under previous President Donald Trump, the company stated that it was preparing strategies “that we are well underway in implementing” to even further safeguard the platform in the US. The statement read, “We will continue to brief members of Congress on the plans.”

Australia and other nations have seen calls to ban TikTok, and Taiwan recently attempted to ban it on public devices. India blocked the TikTok app in 2020. Due to a Trump executive order that prohibited new downloads, TikTok was facing an effective ban in the US two years ago. However, judges rejected the order, and it was never put into effect.

President Joe Biden eventually revoked it. ByteDance was also ordered by the Committee on Foreign Investment in the United States, which is in charge of examining foreign ownership in the US, to sell TikTok in 2020. The company is still in talks with that agency.

Binance

Binance withdrawals hit $1.9 billion in 24 hours

Binance, the biggest cryptocurrency exchange in the world saw $1.9 billion worth of withdrawals in only one day. Regulators are closely monitoring how cryptocurrency exchanges like Binance and the now-bankrupt erstwhile rival FTX handle customer deposits.

Binance
Image Source: taiwannews.com.tw

The U.S. Securities and Exchange Commission charged FTX founder Sam Bankman-Fried on Tuesday with defrauding investors. According to Nansen data, the $1.9 billion in withdrawals of Ethereum-based tokens represents the highest 24-hour outflow of assets since June 13 and is responsible for most of the money taken out during the previous seven days.

According to Binance CEO Changpeng Zhao, the exchange has once witnessed “some withdrawals” totaling over $1.1 billion. He then stated that the business had experienced worse days before. He tweeted, “We’re seeing the money flowing back already. We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits.”

Zhao, also known as “CZ,” claimed that after FTX’s demise in November, people had lost faith in the cryptocurrency industry. Sam Bankman-Fried, the founder of Binance’s former rival, was arrested this week in the Bahamas after being charged with a crime in the US. Early in November, FTX collapsed, sparking a surge of public calls for more regulations of the cryptocurrency sector.

Sam Bankman-Fried, the exchange’s founder, had bragged that it was the “most regulated,” yet he had established it in the Bahamas, where regulation was lax and had covertly exploited customer deposits. Attorneys for FTX said during a bankruptcy hearing that Bankman-Fried operated the exchange as a “personal fiefdom.” According to Bankman-Fried, he didn’t intentionally do anything improper.

The cost of digital coins has been falling due to worries about the industry’s state. With a year-to-date loss of more than 60%, the price of bitcoin was last going below $18,000.

However, following FTX’s stunning collapse, Binance’s company is also being scrutinized. According to unnamed sources cited by Reuters on Monday, US authorities were considering concluding its probe into Binance’s money laundering by “filing criminal charges against specific officials, including founder Changpeng Zhao.”

Bankman-Fried was charged with eight crimes, including conspiracy and wire fraud, on Tuesday in the US. US markets watchdogs have also accused Bankman-Fried of scamming investors and clients separately.

Bankman-Fried, often known as “SBF,” is a well-known figure in the cryptocurrency world who was instantly shunned after his business experienced a liquidity difficulty and declared bankruptcy last month, preventing at least one million depositors from having access to their money.

Splits among US Department of Justice officials are delaying the resolution of a protracted criminal investigation into Binance, the largest cryptocurrency exchange in the world, as per Reuters. The inquiry was launched in 2018 and is concentrated on Binance’s compliance with American anti-money laundering rules and sanctions.

As per Reuters several of the at least six federal prosecutors working the case feel that the information previously acquired supports taking serious action against the crypto exchange and charging certain officials, including the founder Changpeng Zhao, with crimes. The sources claimed that others have urged for taking the time to consider further evidence.

Twitter Blue

Twitter Blue Set to Relaunch with Higher Price for iOS Users

According to Esther Crawford, director of product management at Twitter, the Twitter Blue membership will resume on Monday, starting in five nations.

Twitter said that its monthly membership service, Twitter Blue, would resume on Monday for $8. However, customers who choose to subscribe through the Twitter app on their iPhone rather than the Twitter webpage will incur an additional $3 charge.

Image Source: cnet.com

According to the firm, users can subscribe to the updated service for $8 per month via the web but $11 per month via Apple iOS. Twitter Blue will allow users to edit tweets, upload 1080p videos, and receive a blue tick upon account verification.

Twitter noted, “We’re relaunching @TwitterBlue on Monday – subscribe on the web for $8/month or on iOS for $11/month to get access to subscriber-only features, including the blue checkmark.”

After Elon Musk’s takeover in November, the most recent version of Twitter Blue—which permitted users to purchase a blue-check verification—was first introduced. Immediately after a surge of impersonations on Twitter, it was suspended. Late in November, Musk once more put the launch on hold as he tried to avoid the 30% fee that Apple’s App Store levies on the majority of its sales.

Read More: Elon Musk claims Apple has threatened to remove the Twitter app

Musk has previously said that the cost was actually ten times higher than it ought to be and accused Apple of engaging in monopolistic behavior. Musk also asserted that Apple “threatened” to remove the Twitter app from the app store, but after speaking with Apple CEO Tim Cook on  30th November, he referred to it as a “misunderstanding.”

Despite media claims that the corporation was exploring measures to offset costs levied in the App Store, Twitter did not clarify why Apple customers were charged higher than other users on the web.

Twitter has previously made the blue checkmark accessible to anyone who pays $8 monthly to democratize the status of the blue checkmark, which was once used to authenticate reliable and notable accounts. As a result, numerous individuals purchased blue ticks to impersonate well-known individuals.

Crawford stated in a tweet that impersonation, which she claims is against Twitter Rules, has been combated by Twitter by adding a review process before giving a blue tick to an account.

Twitter may further color-code timelines with the relaunch of its subscription service by adding gold checkmarks for corporations and, shortly, grey checkmarks for governments and “multilateral accounts”.

Crawford tweeted, “Businesses who previously had relationships with Twitter will receive gold checks on Monday. We will soon open this up to more businesses via a new process.”

Twitter has advised users that changing their handle, display name, or profile picture will temporarily remove the blue checkmark from their account till their account is verified again.

As per Twitter, Twitter Blue is “currently available on iOS only in the US, Canada, Australia, New Zealand, and the UK, with plans to expand”. Musk has made it plain that he intends Twitter to rely less on advertising, which generated $5.1 billion in revenue for the company last year and constituted 90% of its total revenue.

This need has grown more pressing when the CEO of Tesla claimed a “massive drop in revenue” as a result of advertisers leaving the platform over worries about content moderation, which were made worse by the emergence of “verified” impostor accounts.

Sam Bankman-Fried

Former FTX CEO Sam Bankman-Fried arrested in the Bahamas

Sam Bankman-Fried, an American entrepreneur, businessman, and former billionaire, was detained in the Bahamas after US prosecutors filed criminal charges against him.

Sam Bankman-Fried, the former CEO of FTX, was detained on Monday in the Bahamas based on allegations brought in the United States. Several charges of wire fraud and conspiracy in relation to the failure of his crypto exchange are among the federal accusations that were revealed on Tuesday morning.

Sam Bankman-Fried
Image Source: businesstoday.in

The Office of the Attorney General of the Bahamas stated in a statement issued on Monday that Fried’s arrest is following the receipt of formal information from the USA that it has brought criminal charges against Fried and is likely to request his extradition.

Fried was taken into custody, according to the U.S. Attorney’s Office for the Southern District of New York, which also noted that the arrest was undertaken in accordance with a sealed indictment.

Seven charges, including wire fraud and conspiracy to commit wire fraud against lenders and customers, securities fraud, conspiracy to commit money laundering, and infringements of campaign finance laws, were included in the grand jury’s indictment against Fried.

The Justice Department and federal regulators were looking into whether FTX utilized client cash to support risky wagers at Fried’s hedge company, Alameda Research.

The Department of Justice is exploring charges against Binance, the top exchange in the cryptocurrency market, at the same time as US officials have indicted Bankman-Fried. According to Reuters, some Justice Department officials think they have enough evidence in their extensive investigation of Binance to bring charges against the firm and some of its top executives.

According to Reuters, Binance is being looked at for potential money laundering and sanctions violations. Four people with knowledge of the situation told Reuters that other department members have argued in favor of devoting time to reviewing further evidence.

Additionally, the arrest occurred a day before Fried was supposed to testify before American lawmakers on Tuesday and provide testimony via video link.

According to Reuters, Bankman-Fried surreptitiously transferred $10 billion in FTX customer money to his private trading company, Alameda Research, which led to FTX’s liquidity crisis.

Sam Bankman-Fried attempted to separate himself from allegations of fraud in a series of statements and media interviews acknowledging risk management problems but claiming he never purposefully mixed customer assets on FTX with assets at Alameda.

Before it shut down last month, FTX was among the biggest crypto exchanges in the world. In a single day, users withdrew around $5 billion worth of cryptocurrency as worries about the exchange’s viability grew. On November 11, Bankman-Fried submitted his resignation, and FTX declared Chapter 11 bankruptcy.

Additionally, Bankman-Fried was sued by American cryptocurrency investors who claimed that he and numerous celebrities who advocated FTX used misleading tactics, causing the investors to lose $11 billion in losses.

The collapse of FTX was the latest upheaval for the cryptocurrency market this year. A string of meltdowns that have brought down other significant players like Voyager Digital and Celsius Network has caused the total cryptocurrency market to decline.