Top tech news stories today: February 29, 2024

No need to search through various websites for your daily tech roundup. We have it right here all in one place.

1. Bitcoin hits $60,000 as rally snowballs

The surge in Bitcoin to $60,000, a level not seen in over two years, comes on the heels of significant capital flow into new U.S. spot bitcoin exchange-traded products. With a remarkable 42% rally this month, it’s on track for its biggest monthly gain since December 2020. (Reuters)

2. Crypto miner lawsuit sets back US effort to track booming power use

This week, U.S. officials indefinitely suspended a survey intended to collect data on the energy consumption of the crypto-mining industry, after the lawsuit beween Riot Blockchain and the Texas Blockchain Council. (Reuters)

3. Protocol Village: Bitcoin Miner Marathon, Plans ‘Anduro,’ a Multi-Chain Layer-2

Marathon Digital Holdings, a public Bitcoin mining company, revealed it has been nurturing Anduro, a novel, programmable, multi-chain layer-2 network built on the Bitcoin blockchain. (CoinDesk)

4. Bitcoin suddenly plummets 7% after hitting $64K, triggering over $700M crypto liquidations

Bitcoin’s dramatic ascent took a sharp turn, plunging 7% from a $64,000 peak to a tumultuous ride for leveraged traders. Surging past the $60,000 threshold, it peaked at $64,037. (CoinDesk)

5. Cloud storage service Egnyte hires banks for IPO, sources say

Egnyte, a cloud storage service, has engaged underwriters for a prospective initial public offering (IPO) in New York, which might value the company at over $3 billion, say sources. JPMorgan Chase is leading the IPO preparations, with UBS Group serving as an additional underwriter. (Reuters)

6. Cloud and AI apps take center stage in .NET 9

With the dawn of .NET 8, Microsoft and the .NET Foundation are already eyeing the horizon, gearing up for the next iteration, .NET 9, slated for a November arrival alongside .NET Conf. (InfoWorld)

7. Improving performance in hybrid cloud deployments

The term “hybrid cloud” in the cloud industry has evolved, initially describing a private cloud integrated with a public cloud, now encompassing any system not entirely based on public cloud services. (InfoWorld)

8. Apple to disclose AI plans later this year, CEO Tim Cook says

During Apple’s annual shareholder meeting, CEO Tim Cook announced plans to unveil further details regarding their utilisation of generative artificial intelligence later this year. (Reuters)

9. Google hit with $2.3 bln lawsuit by Axel Springer, other media groups

On Wednesday, Alphabet’s Google was slapped with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups, citing losses stemming from Google’s digital advertising practices. Shares of the Mountain View-based company dipped over 2%. (Reuters)

10. Meta plans launch of new AI language model Llama 3 in July, The Information reports

Meta Platforms is reportedly gearing up to launch the latest edition of its artificial-intelligence large language model Llama 3 in July, aiming to enhance its ability to respond to controversial user queries. (Reuters)

11. Google working to fix Gemini AI as CEO calls some responses “unacceptable”

Google is urgently addressing issues with its Gemini AI tool, CEO Sundar Pichai informed employees on Tuesday. He described some responses from the tool as “biased” and “unacceptable,” highlighting a need for improvement. (Reuters)

12. X adds live video to Spaces instead of bringing back Periscope

Twitter’s Spaces, now allowing hosts to activate video during chat sessions, was announced on Wednesday. Elon Musk, the platform’s owner and CTO, shared a user walkthrough by “Dogedesigner.” (The Verge)

13. Honda’s ‘extended reality’ is a mash-up of VR and motorised wheelchairs

Honda unveiled a new “extended reality” experience, merging virtual reality with personal mobility devices like the self-balancing Uni-One wheelchairs. This technology will debut at SXSW in Austin, Texas, in the upcoming month. (The Verge)

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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