Top tech news stories today: March 18, 2024

Welcome to concise summaries of the latest developments shaping industries, markets, and technology worldwide. Discover the latest insights on blockchain advancements to tech giants’ legal battles.

1. Blockchain Expo North America returns to connect blockchain, crypto, NFT and Web3 ecosystems

Blockchain Expo North America 2024 returns on June 5-6 at Santa Clara Convention Centre, California, offering a platform for blockchain enthusiasts. It explores advancements in blockchain, crypto, NFTs, and web3. (The Cryptonomist)

2. Elon Musk’s SpaceX is secretly building a huge spy satellite network for the US government

SpaceX, led by Elon Musk, is collaborating with a U.S. intelligence agency to build a network of spy satellites. Valued at $1.8 billion, the classified contract with the National Reconnaissance Office aims to bolster global surveillance capabilities. (Benzinga)

3. Bitcoin miners near final month before reward halving slashes revenues

With 34 days until bitcoin’s halving event around April 20, 2024, miners anticipate a 50% reduction in rewards. Despite bitcoin’s price hovering above $60,000 in March, nearing $74,000 on March 14, the halving may challenge profitability, possibly prompting miners with high operational costs to consider cessation. (Bitcoin.com)

4. Bitcoin slumps to 10-Day lows, DOGE and SHIB among the double-digit losers

This weekend, bitcoin fell to its lowest point in ten days, dropping below $65,000. Other cryptocurrencies also saw losses, leading to a total market decline of over $100 billion daily and $300 billion over the past few days. (Cryptopotato)

5. Huge Microsoft plant is draining tiny Arizona town of its water supply to power AI and cloud development – with locals furious tech giant is redacting its figures in city’s records

Microsoft’s data centre in Goodyear, Arizona, will consume an estimated 56 million gallons of water annually, straining the town’s water supply. This massive usage, equivalent to what 670 families need for a year, raises concerns about potential water shortages if more centres are allowed. (Microsoft Start)

6. African internet outage was caused by subsea cable break, MainOne says

MainOne, owned by Equinix, confirmed an internet outage in West and Central Africa stemmed from a break in its submarine cable system. Seismic activity is suspected, ruling out human interference. Repair efforts will provide more insight into the incident’s cause. (Reuters)

7. China is spending billions on a national computing network. Its data chief says why

China’s National Data Administration (NDA) chief Liu Liehong emphasises the imperative for a fully integrated national computing network to bolster China’s technological advancement and economic restructuring for innovation. (South China Morning Post)

8. Juniper networks launches AI-native networking for partners

On March 18, 2024, Juniper Networks announced enhancements to its Juniper Partner Advantage Program, focusing on leveraging AI for IT Operations (AIOps) to offer managed networking services. (Mirage news)

9. Tesla to raise prices on Model Y electric vehicles in parts of Europe

Tesla announced a price increase of approximately 2,000 euros for its Model Y electric vehicles in several European countries starting March 22, following a similar move in the U.S. (Reuters)

10. Huawei says Chery’s Luxeed S7 delays will be resolved in April

Huawei expects to resolve semiconductor shortages and factory relocation issues affecting production and delivery of its Luxeed S7 sedan from next month, as reported by local media. (Reuters)

11. Apple reaches $490 million settlement over CEO Cook’s China sales comments

Apple settled a class-action lawsuit for $490 million, accusing CEO Tim Cook of concealing declining iPhone demand in China. The preliminary settlement filed on Friday in Oakland, California, awaits approval from Judge Yvonne Gonzalez Rogers. The lawsuit originated from Apple’s 2019 revenue forecast cut, citing U.S.-China trade tensions. (Reuters)

12. Reddit receives FTC inquiry on AI-related deals ahead of IPO

Reddit disclosed an inquiry by the U.S. FTC concerning its practices related to user-generated content sharing with third parties for AI model training. Reddit asserted no engagement in unfair or deceptive trade practices. (Reuters)

13. Meta wins appeal of court order to stop using its name in Brazil

Meta, formerly Facebook, successfully appealed a Brazilian court ruling barring its name use due to confusion with another company. The court order, issued in late February, mandated Meta to cease using its name in Brazil within 30 days, citing over 100 lawsuits wrongly citing the Brazilian service provider. (Reuters)

14. TikTok urges US users to call senators to vote no on TikTok ban

TikTok prompted some U.S. users on Friday to call their senators, urging them to oppose a bill threatening to ban the app if not divested from ByteDance. (Reuters)

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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