New York’s Attorney General recovers $50 million from Gemini Trust to repay defrauded crypto investors. Shanghai allows Tesla to test Full Self-Driving software. Meta pauses AI models launch in Europe, and McDonald’s ends AI drive-thru ordering tests. GPTZERO raises $10 million for AI detection.
Crypto
1. New York recovers $50 mln for defrauded Gemini Earn crypto investors
New York Attorney General Letitia James recovered $50 million from Gemini Trust to repay over 230,000 defrauded Earn program investors. Gemini, led by the Winklevoss twins, agreed to stop crypto lending in New York. (Reuters)
2. Wise shares plunge 10% after fintech firm projects slower growth this year
Shares of Wise dropped as the company projected weaker annual revenue growth, expecting 15-20% underlying income growth for the fiscal year ending March 2025, down from 31% reported for the previous year. (CNBC)
IT infrastructure
3. Microsoft to invest $7.16 bln in new data centres in northeastern Spain
Microsoft plans to invest €6.69 billion ($7.16 billion) to develop data centers in Aragon, Spain, over 10 years. This follows a recent €2.1 billion investment in Madrid. (Telecom)
4. Telenor sets up Nordic-focused cybersecurity company
Telenor Cyberdefence, led by Thomas Kronen, combines 15 companies worth NOK 10-12 billion. Telenor CEO Sigve Brekke highlights its Nordic ambitions. (Capacity)
Tech trends
5. Shanghai allows Tesla to carry out Full Self-Driving pilot
Shanghai is allowing 10 Tesla vehicles to test its advanced autonomous driving software, paving the way for its rollout in China. Successful deployment of Full Self-Driving (FSD) software would enhance Tesla’s competitiveness in the Chinese market. (Yahoo!Finance)
6. Chrome on Android can read webpages out loud from within the app
Google is rolling out “Listen to this page” in Android Chrome, enabling webpages to be read aloud with playback controls for pausing, adjusting speed, and skipping. Users can select voices and languages, including English, French, German, Arabic, Hindi, and Spanish. (The Verge)
7. Apple and Meta could face charges for violating EU tech rules
Apple and Meta face charges for non-compliance with the EU’s Digital Markets Act (DMA) before the summer break. Investigations began in March under the DMA, which mandates fair competition. (Pymnts)
AI
8. Meta pauses AI models launch in Europe due to Irish request
Meta will not launch its AI models in Europe after the Irish privacy regulator requested a delay over data usage concerns. Meta planned to use public Facebook and Instagram data without consent. (Reuters)
9. AI to erase abusive posts to athletes at Paris Olympics-IOC
The International Olympic Committee (IOC) will use AI to prevent social media abuse against 15,000 athletes and officials at the Paris Olympics. The AI tool will monitor and erase abusive posts, ensuring athlete protection amid high social media engagement. (Reuters)
10. McDonald’s will stop testing AI to take drive-thru orders, for now
McDonald’s is ending its AI drive-thru ordering program with IBM, citing confidence in a voice-ordering future. The company tested the system in over 100 restaurants but did not specify reasons for ending the partnership. (The Verge)
11. GPTZero raises $10M to boost AI detection
GPTZERO, a platform for AI-generated content detection, has raised US$10 million in Series A funding led by Footwork VC, with participation from Reach Capital, Uncork, Neo, Alt Capital, and former CEOs of Reuters and NYT. (IoT Now)
Social
12. Meta accused of trying to discredit ad researchers
Meta allegedly attempted to undermine university researchers in Brazil who flagged fraudulent ads on its platform. This follows Brazil’s fine of $6.6 million against Meta (then Facebook) for data leaks. Meta’s attorneys reportedly challenged the researchers’ credibility. (The Register)
13. Remote workers using ‘mouse-mover’ technology are getting caught
Wells Fargo fired over a dozen employees from its wealth- and investment-management unit for using devices or apps to simulate productivity on their computers. (The Verge)
Products
14. Apple’s devices are about to get super-thin, report says
Apple is reportedly planning to introduce a “significantly skinnier” iPhone in 2025, following the launch of its thinnest device ever, the OLED iPad Pro. (Mashable)
15. Apple gives Apple Home users something they’ve been begging for
Apple Home users will soon have the option to choose a “Preferred Home Hub,” a feature discovered in the iOS 18 beta. This allows users to select a hardwired Apple TV as the main Home hub, rather than a Wi-Fi-based HomePod, potentially improving the platform’s speed and reliability. (The Verge)
