Governance
Top tech news stories today: May 29, 2024
Former FTX exec Salame sentenced to 90 months. Russia plans to charge companies for using foreign software. EU passes Net Zero Industry Act.
Headline
Former FTX exec Salame sentenced to 90 months. Russia plans to charge companies for using foreign software. EU passes Net Zero Industry Act.
Context
Today’s tech news highlights: Riot Platforms offers $950 million for Bitfarms, becoming the largest shareholder. Former FTX exec Ryan Salame was sentenced to 90 months. NodeOps secures $5 million for blockchain management. Russia plans to charge companies for using foreign software. T-Mobile announces a $4.4 billion deal for parts of US Cellular. EU passes Net Zero Industry Act. Riot Platforms (RIOT) offered to acquire Bitfarms (BITF) for $950 million in equity value after a private proposal was rejected. Riot, now Bitfarms’ largest shareholder with a 9.25% stake, seeks a special shareholder meeting to add a new independent director. ( Reuters )
Evidence
Pending intelligence enrichment.
Analysis
Ryan Salame, former FTX executive, was sentenced to 90 months in prison and three years of supervised release, with over $6 million in forfeiture and $5 million in restitution. Salame pleaded guilty to conspiracy charges, including unlawful political contributions. ( CNBC ) NodeOps, a platform specialising in blockchain node orchestration, secured $5 million in funding led by L1D. NodeOps simplifies node deployment and management across multiple blockchain networks, using AI to enhance Web3 protocols. With over 17,000 nodes and 25 live chains supported, NodeOps aims to expand operations and integrate more protocols. ( IoT Now ) Russia may charge domestic companies for using foreign software, aiming to reduce reliance on foreign technology, said Digital Development Minister Maksut Shadaev. President Putin’s decree mandates 80% of key sectors to use Russian-made software by 2030. ( U.S. News ) South Korea’s finance minister announced detailed tax incentives to boost listed companies’ value and support the chip industry. Minister Choi Sang-mok plans to gather feedback in June and July before finalising tax code revisions. Efforts include corporate tax cuts, support for semiconductor competitiveness, and backing a trilateral FTA with Japan and China. ( Reuters )
Key Points
- Crypto
- 1. Riot Platforms proposes to buy crypto miner Bitfarms, becomes largest shareholder
- 2. FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison
- Blockchain
- 3. NodeOps secures US$5M funding to work on blockchain node management
Actions
Pending intelligence enrichment.
