Binance is seeking to dismiss a $13 billion lawsuit. Coinbase is launching a smart wallet that eliminates gas fees. Telecoms are challenging the reinstatement of net neutrality rules.
Crypto
1. Crypto exchange Binance seeks to slash size of $13B UK lawsuit
Binance seeks to dismiss most of a $13 billion lawsuit alleging collusion with other exchanges, like Kraken, to delist Bitcoin Satoshi Vision (BSV). The case, representing over 200,000 BSV owners, claims the 2019 delisting caused BSV’s value to plummet, hindering its potential as a major cryptocurrency. (Reuters)
2. CrowdStrike shares jump as AI boosts cybersecurity demand
CrowdStrike’s shares surged 11.3% after exceeding Q1 revenue and earnings estimates and raising its full-year 2025 forecast. The cybersecurity firm projected Q2 revenue above Wall Street expectations, continuing its streak of beating earnings estimates for eight consecutive quarters. (U.S.News)
3. Coinbase rolls out smart wallet with no gas fees and easy onboarding
Coinbase is introducing a smart wallet, enhancing user convenience by simplifying onboarding, eliminating gas fees, and removing the need for recovery phrases. This wallet integrates with major apps, offers self-custody, and supports various networks. (Cointelegraph)
IT infrastructure
4. Telecoms seek to block US reinstatement of net neutrality rules
Telecom industry groups, including AT&T and Verizon, are challenging the Biden administration’s reinstatement of net neutrality rules set to take effect on July 22. The FCC’s rules, which prohibit blocking, slowing, or paid prioritisation of lawful content, were adopted in 2015, rescinded under Trump, and reinstated by a recent FCC vote. (Aol.)
5. Lockheed Martin to buy up to 25 rocket launches from Firefly Aerospace
Lockheed Martin signed a deal with Firefly Aerospace for up to 25 Alpha rocket launches by 2029. The agreement includes 15 confirmed and 10 optional launches. Firefly will launch various Lockheed Martin spacecraft into low-Earth orbit, starting with Alpha Flight 6 from Vandenberg Space Force Base later this year. (Business Insider)
6. BGO and Bulk Infra team up for $1 bln renewables- powered data centre
BGO more than doubled its stake in Bulk Infrastructure, investing an additional 350 million euros for a total of over 640 million euros since 2020, to fund a 1 billion euro expansion of Bulk’s renewables-powered data centres. (Street Insider)
Tech trends
7. Nvidia overtakes Apple as No. 2 most valuable company
Nvidia has surpassed Apple as the world’s second-most valuable company, reaching a market valuation of $3.012 trillion. This surge is driven by a 5.2% rise in its stock, boosted by high demand for its AI-fueling graphics processing units. Nvidia’s revenues have soared over 260% in the past year. (Aljazeera)
8. Amazon’s robotaxi unit Zoox to begin testing in Austin, Miami
Amazon’s Zoox will test autonomous vehicles in Austin and Miami, its first trials outside the western U.S. The fleet includes retrofitted Toyota Highlanders with human safety drivers. Zoox has tested vehicles in San Francisco, Las Vegas, and Seattle, while facing NHTSA investigations into automated driving systems. (Tech Crunch)
9. Clearlake explores $3 billion-plus sale of software provider Confluence, sources say
Clearlake Capital is exploring a sale of Confluence Technologies, aiming for a valuation of over $3 billion, including debt. Clearlake is collaborating with Morgan Stanley and Centerview Partners. Confluence, with over 900 employees, serves 1,000+ clients globally. Clearlake acquired Confluence in 2021, boosting earnings through strategic acquisitions. (Aol.)
10. Air Liquide plans $250M plant to supply gas for chipmaker Micron
Air Liquide will invest $250 million in a new Idaho gas plant to supply Micron Technology with ultra-pure nitrogen and other gases. The plant, operational by 2025, will create hundreds of jobs and aid Micron’s high-bandwidth memory chip production for Nvidia. (U.S.News)
AI
11. Onsemi aims to improve AI power efficiency with silicon carbide chips
Onsemi has introduced silicon carbide chips to improve data centre energy efficiency for AI services, a technology borrowed from electric vehicles. These chips reduce power conversion losses, potentially saving enough energy to power a million homes annually, and addressing significant electricity costs for companies like Amazon, Google, and Microsoft. (Aol.)
12. Chinese AI chip firms downgrading designs to secure TSMC production
In response to U.S. sanctions limiting access to advanced chip production, some Chinese AI chip firms are designing less powerful processors to comply with export controls. Despite significant investment in the chip sector, China’s production capacity for advanced chips remains limited. (Yahoo!Tech)
Products
13. Humane warns AI Pin owners to ‘immediately’ stop using its charging case
Humane is advising AI Pin owners to immediately stop using the charging case due to potential fire safety risks associated with a third-party battery cell. The company has discontinued the supplier and is seeking a new one. (The Verge)
14. Google acquires Cameyo to integrate Windows app virtualisation into ChromeOS
Google’s acquisition of Cameyo aims to enhance virtualised Windows app support in ChromeOS. Cameyo’s technology allows businesses to run virtualised Windows apps on ChromeOS without needing a full Windows version. (The Verge)
IoT
15. Wialon launches IoT Project of the Year 2024 competition
Wialon has launched its annual IoT Project of the Year competition, recognising innovative projects using telematics and IoT technologies. (IoT News)
