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2025-05-14 13:03:06 ·

eToro Group IPO: Crypto and stock trading platform’s ETOR shares make Nasdaq debut today after delay

The day has finally arrived for those hoping to get in on shares of crypto and stock trading firm eToro Group Ltd. The fintech company is holing its initial public offering, with its shares expected to begin trading on the Nasdaq Wednesday after a monthslong delay. Here’s what you need to know about eToro’s IPO.

What is eToro?

eToro is a brokerage company. The fintech firm’s official name is eToro Group Ltd., and it offers a trading platform for people to buy and sell stocks, cryptocurrencies, and other assets.

In the financial services space, eToro’s more traditional competitors are the likes of Charles Schwab, Fidelity, and Vanguard. However, because eToro is a digital-first company, it more closely resembles other digital-first trading platforms like Robinhood.

But eToro has some differentiating features that set it apart from other trading platforms. The platform is perhaps most well-known for its “CopyTrader” feature, which allows eToro users to follow other traders and mimic their trades. The idea behind this feature is that it could help novice traders invest more successfully by replicating the moves of more seasoned investors.

Despite going public now, eToro has actually been around for a while. The company was originally founded in 2007. It is headquartered in Tel Aviv, Israel, and has offices around the globe.

eToro has a long history of attempted public offerings

Today is the first time that eToro has gone public, but it’s not the first time the company has tried to.

As noted by CNBC, the company originally tried to go public via a merger with a special purpose acquisition companyin 2022. SPACs were all the rage in the early pandemic years, but by 2022, they had started to wane as equity markets took a fall.

Then in March of this year, eToro announced its intention to go public again—this time via a traditional initial public offering. While eToro at the time did not give a date for its IPO, it was assumed that it would happen relatively quickly.

But eToro’s IPO announcement at the end of March couldn’t have been more badly timed. It was announced little more than a week before President Donald Trump announced his disastrous Liberation Day tariffs, which sent stock markets around the world tumbling.

In April, eToro chose to delay its IPO. However, in early May, as Trump’s trade war stance had begun to soften, Bloomberg reported that eToro was once again on the cusp of launching its IPO.

And now it’s doing just that.

eToro by the numbers

On May 5, eToro filed an updated Form F-1 with the U.S. Securities and Exchange Commission . This form is little changed from the earlier F-1 the company filed in March. In the F-1, eToro reported the following metrics as of December 31, 2024:

A global footprint that spreads across 75 countries.

Approximately 3.5 million Funded Accounts.

Net Contribution of million.

Total Commission of million.

Net income of million.

Adjusted EBITDA of million.

As noted by CNBC, eToro makes its money by charging fees on associated trading transactions, including buy and sell orders, withdrawals, and currency conversions.

When is eToro’s IPO?

eToro’s priced its shares on Tuesday. It is expected to begin publicly trading today.

What is eToro’s stock ticker?

eToro’s stock ticker is “ETOR.”

What exchange will eToro shares trade on?

eToro shares will trade on the Nasdaq Global Select Market.

What is the IPO share price of ETOR?

The IPO price of ETOR shares is according to a company press release. This exceeds the high end that eToro originally said it was going to sell its shares for.

In its F-1 filing, the company said it had planned to sell its shares between and apiece.

The higher IPO price suggests that eToro believes there is more substantial demand for its shares than originally thought.

How many ETOR shares are available in its IPO?

In total, eToro’s IPO offered 11,923,018 Class A common shares for sale.

Nearly six million shares were sold directly by eToro, with most sold by existing eToro shareholders.

How much did eToro raise in its IPO?

Though roughly 11.9 million shares were available under eToro’s IPO, the company will not receive the proceeds for half of them, because existing private shareholders are selling those shares.

That leaves 5,961,509 from which eToro profited. Selling those 5.9 million shares for each netted eToro around million.

How much is eToro worth?

At its IPO price, CNBC says eToro now has a market cap of approximately billion.
#etoro #group #ipo #crypto #stock

eToro Group IPO: Crypto and stock trading platform’s ETOR shares make Nasdaq debut today after delay
The day has finally arrived for those hoping to get in on shares of crypto and stock trading firm eToro Group Ltd. The fintech company is holing its initial public offering, with its shares expected to begin trading on the Nasdaq Wednesday after a monthslong delay. Here’s what you need to know about eToro’s IPO. What is eToro? eToro is a brokerage company. The fintech firm’s official name is eToro Group Ltd., and it offers a trading platform for people to buy and sell stocks, cryptocurrencies, and other assets. In the financial services space, eToro’s more traditional competitors are the likes of Charles Schwab, Fidelity, and Vanguard. However, because eToro is a digital-first company, it more closely resembles other digital-first trading platforms like Robinhood. But eToro has some differentiating features that set it apart from other trading platforms. The platform is perhaps most well-known for its “CopyTrader” feature, which allows eToro users to follow other traders and mimic their trades. The idea behind this feature is that it could help novice traders invest more successfully by replicating the moves of more seasoned investors. Despite going public now, eToro has actually been around for a while. The company was originally founded in 2007. It is headquartered in Tel Aviv, Israel, and has offices around the globe. eToro has a long history of attempted public offerings Today is the first time that eToro has gone public, but it’s not the first time the company has tried to. As noted by CNBC, the company originally tried to go public via a merger with a special purpose acquisition companyin 2022. SPACs were all the rage in the early pandemic years, but by 2022, they had started to wane as equity markets took a fall. Then in March of this year, eToro announced its intention to go public again—this time via a traditional initial public offering. While eToro at the time did not give a date for its IPO, it was assumed that it would happen relatively quickly. But eToro’s IPO announcement at the end of March couldn’t have been more badly timed. It was announced little more than a week before President Donald Trump announced his disastrous Liberation Day tariffs, which sent stock markets around the world tumbling. In April, eToro chose to delay its IPO. However, in early May, as Trump’s trade war stance had begun to soften, Bloomberg reported that eToro was once again on the cusp of launching its IPO. And now it’s doing just that. eToro by the numbers On May 5, eToro filed an updated Form F-1 with the U.S. Securities and Exchange Commission . This form is little changed from the earlier F-1 the company filed in March. In the F-1, eToro reported the following metrics as of December 31, 2024: A global footprint that spreads across 75 countries. Approximately 3.5 million Funded Accounts. Net Contribution of million. Total Commission of million. Net income of million. Adjusted EBITDA of million. As noted by CNBC, eToro makes its money by charging fees on associated trading transactions, including buy and sell orders, withdrawals, and currency conversions. When is eToro’s IPO? eToro’s priced its shares on Tuesday. It is expected to begin publicly trading today. What is eToro’s stock ticker? eToro’s stock ticker is “ETOR.” What exchange will eToro shares trade on? eToro shares will trade on the Nasdaq Global Select Market. What is the IPO share price of ETOR? The IPO price of ETOR shares is according to a company press release. This exceeds the high end that eToro originally said it was going to sell its shares for. In its F-1 filing, the company said it had planned to sell its shares between and apiece. The higher IPO price suggests that eToro believes there is more substantial demand for its shares than originally thought. How many ETOR shares are available in its IPO? In total, eToro’s IPO offered 11,923,018 Class A common shares for sale. Nearly six million shares were sold directly by eToro, with most sold by existing eToro shareholders. How much did eToro raise in its IPO? Though roughly 11.9 million shares were available under eToro’s IPO, the company will not receive the proceeds for half of them, because existing private shareholders are selling those shares. That leaves 5,961,509 from which eToro profited. Selling those 5.9 million shares for each netted eToro around million. How much is eToro worth? At its IPO price, CNBC says eToro now has a market cap of approximately billion. #etoro #group #ipo #crypto #stock

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eToro Group IPO: Crypto and stock trading platform’s ETOR shares make Nasdaq debut today after delay

The day has finally arrived for those hoping to get in on shares of crypto and stock trading firm eToro Group Ltd. The fintech company is holing its initial public offering, with its shares expected to begin trading on the Nasdaq Wednesday after a monthslong delay. Here’s what you need to know about eToro’s IPO. What is eToro? eToro is a brokerage company. The fintech firm’s official name is eToro Group Ltd., and it offers a trading platform for people to buy and sell stocks, cryptocurrencies, and other assets. In the financial services space, eToro’s more traditional competitors are the likes of Charles Schwab, Fidelity, and Vanguard. However, because eToro is a digital-first company, it more closely resembles other digital-first trading platforms like Robinhood. But eToro has some differentiating features that set it apart from other trading platforms. The platform is perhaps most well-known for its “CopyTrader” feature, which allows eToro users to follow other traders and mimic their trades. The idea behind this feature is that it could help novice traders invest more successfully by replicating the moves of more seasoned investors. Despite going public now, eToro has actually been around for a while. The company was originally founded in 2007. It is headquartered in Tel Aviv, Israel, and has offices around the globe. eToro has a long history of attempted public offerings Today is the first time that eToro has gone public, but it’s not the first time the company has tried to. As noted by CNBC, the company originally tried to go public via a merger with a special purpose acquisition company (SPAC) in 2022. SPACs were all the rage in the early pandemic years, but by 2022, they had started to wane as equity markets took a fall. Then in March of this year, eToro announced its intention to go public again—this time via a traditional initial public offering (IPO). While eToro at the time did not give a date for its IPO, it was assumed that it would happen relatively quickly. But eToro’s IPO announcement at the end of March couldn’t have been more badly timed. It was announced little more than a week before President Donald Trump announced his disastrous Liberation Day tariffs, which sent stock markets around the world tumbling. In April, eToro chose to delay its IPO. However, in early May, as Trump’s trade war stance had begun to soften, Bloomberg reported that eToro was once again on the cusp of launching its IPO. And now it’s doing just that. eToro by the numbers On May 5, eToro filed an updated Form F-1 with the U.S. Securities and Exchange Commission (SEC). This form is little changed from the earlier F-1 the company filed in March. In the F-1, eToro reported the following metrics as of December 31, 2024: A global footprint that spreads across 75 countries. Approximately 3.5 million Funded Accounts. Net Contribution of $787 million (up 41% from $557 million in 2023). Total Commission of $931 million (up 46% from $639 million in 2023). Net income of $192 million (up 1,161% from $15 million in 2023). Adjusted EBITDA of $304 million (up 159% from $187 million in 2023). As noted by CNBC, eToro makes its money by charging fees on associated trading transactions, including buy and sell orders, withdrawals, and currency conversions. When is eToro’s IPO? eToro’s priced its shares on Tuesday. It is expected to begin publicly trading today (Wednesday, May 14, 2025). What is eToro’s stock ticker? eToro’s stock ticker is “ETOR.” What exchange will eToro shares trade on? eToro shares will trade on the Nasdaq Global Select Market. What is the IPO share price of ETOR? The IPO price of ETOR shares is $52, according to a company press release. This exceeds the high end that eToro originally said it was going to sell its shares for. In its F-1 filing, the company said it had planned to sell its shares between $46 and $50 apiece. The higher IPO price suggests that eToro believes there is more substantial demand for its shares than originally thought. How many ETOR shares are available in its IPO? In total, eToro’s IPO offered 11,923,018 Class A common shares for sale. Nearly six million shares were sold directly by eToro, with most sold by existing eToro shareholders. How much did eToro raise in its IPO? Though roughly 11.9 million shares were available under eToro’s IPO, the company will not receive the proceeds for half of them, because existing private shareholders are selling those shares. That leaves 5,961,509 from which eToro profited. Selling those 5.9 million shares for $52 each netted eToro around $310 million. How much is eToro worth? At its $52 IPO price, CNBC says eToro now has a market cap of approximately $4.2 billion.

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2025-05-14 11:58:14 ·

TensorWave raises $100M to grow its AMD-powered cloud infrastructure

TensorWave, a data center provider building facilities primarily with AMD hardware, has raised $100 million as it seeks to further build out its data center infrastructure.

The funding round was led by Magnetar and AMD Ventures, and brings the company’s total capital raised to $146.7 million, according to Crunchbase.
Maverick Silicon, Nexus Venture Partners and Prosperity7 also participated in the round.
It’s a precarious time for data center projects.
Tariff-related price hikes on components like server racks and chips could contribute to overall data center build costs increasing by 5% to 15%, per an analysis by TD Cowen.

Investors are also wary of such projects accumulating too much capacity, particularly as the number of cheap AI services continues to grow.
Overcapacity is reportedly one of the factors delaying OpenAI’s ambitious $500-billion Stargate data center project.
Las Vegas, Nevada-based TensorWave claims that it hasn’t seen a slowdown in business, however.
The company is on track to end the year with run-rate revenue of more than $100 million, which would mark a 20x increase from a year earlier, according to CEO Darrick Horton (pictured above; in the middle).
Nvidia is the favored hardware vendor for data centers that are used for training and running AI models.
But TensorWave embraced AMD early on, aiming to provide cloud services at lower prices.
TensorWave recently deployed a “dedicated training” cluster of around 8,000 AMD Instinct MI325X GPUs.
The new capital will enable the company to grow that cluster, as well as expand headcount and support “operational growth,” said Horton.

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TensorWave has a team of around 40 people at present, and expects headcount to reach over 100 by the end of the year.

“This $100 million funding propels TensorWave’s mission to democratize access to cutting-edge AI compute,” Horton added.
“Our 8,192 Instinct MI325X GPU cluster marks just the beginning as we establish ourselves as the emerging AMD-powered leader in the rapidly expanding AI infrastructure market.”
Other data center providers placing bets on AMD’s AI chips range from startups like Lamini and Nscale to larger, more entrenched cloud providers such as Azure and Oracle.
Horton co-founded TensorWave with Jeff Tatarchuk (pictured above; on the left) and Piotr Tomasik (pictured above; on the right) in 2023.
Tatarchuk had previously launched cloud vendor VMAccel with Horton, and sold another startup, Lets Rolo, to digital identity firm LifeKey.
Horton co-founded crypto mining company VaultMiner Technologies, VMAccel’s corporate parent.
As for Tomasik, he co-launched influencer marketer site Influential, and is the second co-founder of Lets Rolo.

Source: https://techcrunch.com/2025/05/14/tensorwave-raises-100m-for-its-amd-powered-ai-cloud/" style="color: #0066cc;">https://techcrunch.com/2025/05/14/tensorwave-raises-100m-for-its-amd-powered-ai-cloud/
#tensorwave #raises #100m #grow #its #amdpowered #cloud #infrastructure

TensorWave raises $100M to grow its AMD-powered cloud infrastructure
TensorWave, a data center provider building facilities primarily with AMD hardware, has raised $100 million as it seeks to further build out its data center infrastructure. The funding round was led by Magnetar and AMD Ventures, and brings the company’s total capital raised to $146.7 million, according to Crunchbase. Maverick Silicon, Nexus Venture Partners and Prosperity7 also participated in the round. It’s a precarious time for data center projects. Tariff-related price hikes on components like server racks and chips could contribute to overall data center build costs increasing by 5% to 15%, per an analysis by TD Cowen. Investors are also wary of such projects accumulating too much capacity, particularly as the number of cheap AI services continues to grow. Overcapacity is reportedly one of the factors delaying OpenAI’s ambitious $500-billion Stargate data center project. Las Vegas, Nevada-based TensorWave claims that it hasn’t seen a slowdown in business, however. The company is on track to end the year with run-rate revenue of more than $100 million, which would mark a 20x increase from a year earlier, according to CEO Darrick Horton (pictured above; in the middle). Nvidia is the favored hardware vendor for data centers that are used for training and running AI models. But TensorWave embraced AMD early on, aiming to provide cloud services at lower prices. TensorWave recently deployed a “dedicated training” cluster of around 8,000 AMD Instinct MI325X GPUs. The new capital will enable the company to grow that cluster, as well as expand headcount and support “operational growth,” said Horton. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you’ve built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | June 5 REGISTER NOW TensorWave has a team of around 40 people at present, and expects headcount to reach over 100 by the end of the year. “This $100 million funding propels TensorWave’s mission to democratize access to cutting-edge AI compute,” Horton added. “Our 8,192 Instinct MI325X GPU cluster marks just the beginning as we establish ourselves as the emerging AMD-powered leader in the rapidly expanding AI infrastructure market.” Other data center providers placing bets on AMD’s AI chips range from startups like Lamini and Nscale to larger, more entrenched cloud providers such as Azure and Oracle. Horton co-founded TensorWave with Jeff Tatarchuk (pictured above; on the left) and Piotr Tomasik (pictured above; on the right) in 2023. Tatarchuk had previously launched cloud vendor VMAccel with Horton, and sold another startup, Lets Rolo, to digital identity firm LifeKey. Horton co-founded crypto mining company VaultMiner Technologies, VMAccel’s corporate parent. As for Tomasik, he co-launched influencer marketer site Influential, and is the second co-founder of Lets Rolo. Source: https://techcrunch.com/2025/05/14/tensorwave-raises-100m-for-its-amd-powered-ai-cloud/ #tensorwave #raises #100m #grow #its #amdpowered #cloud #infrastructure

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TensorWave raises $100M to grow its AMD-powered cloud infrastructure

TensorWave, a data center provider building facilities primarily with AMD hardware, has raised $100 million as it seeks to further build out its data center infrastructure. The funding round was led by Magnetar and AMD Ventures, and brings the company’s total capital raised to $146.7 million, according to Crunchbase. Maverick Silicon, Nexus Venture Partners and Prosperity7 also participated in the round. It’s a precarious time for data center projects. Tariff-related price hikes on components like server racks and chips could contribute to overall data center build costs increasing by 5% to 15%, per an analysis by TD Cowen. Investors are also wary of such projects accumulating too much capacity, particularly as the number of cheap AI services continues to grow. Overcapacity is reportedly one of the factors delaying OpenAI’s ambitious $500-billion Stargate data center project. Las Vegas, Nevada-based TensorWave claims that it hasn’t seen a slowdown in business, however. The company is on track to end the year with run-rate revenue of more than $100 million, which would mark a 20x increase from a year earlier, according to CEO Darrick Horton (pictured above; in the middle). Nvidia is the favored hardware vendor for data centers that are used for training and running AI models. But TensorWave embraced AMD early on, aiming to provide cloud services at lower prices. TensorWave recently deployed a “dedicated training” cluster of around 8,000 AMD Instinct MI325X GPUs. The new capital will enable the company to grow that cluster, as well as expand headcount and support “operational growth,” said Horton. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you’ve built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | June 5 REGISTER NOW TensorWave has a team of around 40 people at present, and expects headcount to reach over 100 by the end of the year. “This $100 million funding propels TensorWave’s mission to democratize access to cutting-edge AI compute,” Horton added. “Our 8,192 Instinct MI325X GPU cluster marks just the beginning as we establish ourselves as the emerging AMD-powered leader in the rapidly expanding AI infrastructure market.” Other data center providers placing bets on AMD’s AI chips range from startups like Lamini and Nscale to larger, more entrenched cloud providers such as Azure and Oracle. Horton co-founded TensorWave with Jeff Tatarchuk (pictured above; on the left) and Piotr Tomasik (pictured above; on the right) in 2023. Tatarchuk had previously launched cloud vendor VMAccel with Horton, and sold another startup, Lets Rolo, to digital identity firm LifeKey. Horton co-founded crypto mining company VaultMiner Technologies, VMAccel’s corporate parent. As for Tomasik, he co-launched influencer marketer site Influential, and is the second co-founder of Lets Rolo.

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2025-05-14 11:33:48 ·

FalconX Partners With Standard Chartered to Serve Institutional Crypto Investors

FalconX, the US-based digital assets broker, announced on Wednesday is set to offer banking services to institutional clients, as part of a new partnership with Standard Chartered.
The crypto platform claims that it executes over $1.5 trillion (roughly Rs.
1,27,97,325 crore) in trading value and serves over 600 institutional clients.
Both the firms pointed to a rise in the demand for secure services related to digital assets, as the reason for announcing the initiative.
These institutional investors will include asset managers, hedge funds, token issuers, and payment platforms.With the new partnership, FalconX said it will integrate the bank's traditional finance infrastructure with its own offerings.
This will let large-scale investors tap into an expanded range of currency pairs for investments.
The clients will also be able to use Standard Chartered's expertise to process reliable international settlements using digital assets."We support trading and financing for some of the world's largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets," said Matt Long, General Manager, APAC and Middle East at FalconX.Standard Chartered is one of many established banks that are exploring the digital assets sector.
In November 2022, the Monetary Authority of Singapore (MAS) teamed up with Standard Chartered to pilot the uses of digital tokens to simplify financial trading.
Similarly, in September 2024, the London-headquartered lender launched a crypto custody service in the UAE designed to provide guidance to institutional investors with traditional expertise.Luke Boland, a senior official from Standard Chartered, said the bank will continue to contribute to developing the digital asset ecosystem."As institutional demand for digital assets continues to grow, we're proud to provide the banking infrastructure that enables firms like FalconX to deliver world-class trading and financing solutions to institutional clients," Boland noted.FalconX's decision to join forces with a mainstream bank such as Standard Chartered comes right after the US officially removed restrictions on banks around engaging with crypto.Earlier this month, the Office of the Comptroller of the Currency (OCC) allowed banks in the US to offer services like crypto custody and management.
The OCC also said customers of US national banks and federal savings associations can access crypto custody services from their lenders in the US and seek assistance in buying or selling of crypto assets.
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News.
For the latest videos on gadgets and tech, subscribe to our YouTube channel.
If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading:
Cryptocurrency, FalconX, Standard Chartered, Banking
Radhika Parashar

Radhika Parashar is a senior correspondent for Gadgets 360.
She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto.
Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references.
For tips or queries you could reach out to her at RadhikaP@ndtv.com.

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Source: https://www.gadgets360.com/cryptocurrency/news/falconx-partners-with-standard-chartered-serve-institutional-investors-8412236#rss-gadgets-news" style="color: #0066cc;">https://www.gadgets360.com/cryptocurrency/news/falconx-partners-with-standard-chartered-serve-institutional-investors-8412236#rss-gadgets-news
#falconx #partners #with #standard #chartered #serve #institutional #crypto #investors

FalconX Partners With Standard Chartered to Serve Institutional Crypto Investors
FalconX, the US-based digital assets broker, announced on Wednesday is set to offer banking services to institutional clients, as part of a new partnership with Standard Chartered. The crypto platform claims that it executes over $1.5 trillion (roughly Rs. 1,27,97,325 crore) in trading value and serves over 600 institutional clients. Both the firms pointed to a rise in the demand for secure services related to digital assets, as the reason for announcing the initiative. These institutional investors will include asset managers, hedge funds, token issuers, and payment platforms.With the new partnership, FalconX said it will integrate the bank's traditional finance infrastructure with its own offerings. This will let large-scale investors tap into an expanded range of currency pairs for investments. The clients will also be able to use Standard Chartered's expertise to process reliable international settlements using digital assets."We support trading and financing for some of the world's largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets," said Matt Long, General Manager, APAC and Middle East at FalconX.Standard Chartered is one of many established banks that are exploring the digital assets sector. In November 2022, the Monetary Authority of Singapore (MAS) teamed up with Standard Chartered to pilot the uses of digital tokens to simplify financial trading. Similarly, in September 2024, the London-headquartered lender launched a crypto custody service in the UAE designed to provide guidance to institutional investors with traditional expertise.Luke Boland, a senior official from Standard Chartered, said the bank will continue to contribute to developing the digital asset ecosystem."As institutional demand for digital assets continues to grow, we're proud to provide the banking infrastructure that enables firms like FalconX to deliver world-class trading and financing solutions to institutional clients," Boland noted.FalconX's decision to join forces with a mainstream bank such as Standard Chartered comes right after the US officially removed restrictions on banks around engaging with crypto.Earlier this month, the Office of the Comptroller of the Currency (OCC) allowed banks in the US to offer services like crypto custody and management. The OCC also said customers of US national banks and federal savings associations can access crypto custody services from their lenders in the US and seek assistance in buying or selling of crypto assets. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube. Further reading: Cryptocurrency, FalconX, Standard Chartered, Banking Radhika Parashar Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More Related Stories Source: https://www.gadgets360.com/cryptocurrency/news/falconx-partners-with-standard-chartered-serve-institutional-investors-8412236#rss-gadgets-news #falconx #partners #with #standard #chartered #serve #institutional #crypto #investors

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FalconX Partners With Standard Chartered to Serve Institutional Crypto Investors

FalconX, the US-based digital assets broker, announced on Wednesday is set to offer banking services to institutional clients, as part of a new partnership with Standard Chartered. The crypto platform claims that it executes over $1.5 trillion (roughly Rs. 1,27,97,325 crore) in trading value and serves over 600 institutional clients. Both the firms pointed to a rise in the demand for secure services related to digital assets, as the reason for announcing the initiative. These institutional investors will include asset managers, hedge funds, token issuers, and payment platforms.With the new partnership, FalconX said it will integrate the bank's traditional finance infrastructure with its own offerings. This will let large-scale investors tap into an expanded range of currency pairs for investments. The clients will also be able to use Standard Chartered's expertise to process reliable international settlements using digital assets."We support trading and financing for some of the world's largest institutions in digital asset markets, and this relationship strengthens our ability to deliver robust banking and FX solutions to clients who rely on us to operate in crypto markets," said Matt Long, General Manager, APAC and Middle East at FalconX.Standard Chartered is one of many established banks that are exploring the digital assets sector. In November 2022, the Monetary Authority of Singapore (MAS) teamed up with Standard Chartered to pilot the uses of digital tokens to simplify financial trading. Similarly, in September 2024, the London-headquartered lender launched a crypto custody service in the UAE designed to provide guidance to institutional investors with traditional expertise.Luke Boland, a senior official from Standard Chartered, said the bank will continue to contribute to developing the digital asset ecosystem."As institutional demand for digital assets continues to grow, we're proud to provide the banking infrastructure that enables firms like FalconX to deliver world-class trading and financing solutions to institutional clients," Boland noted.FalconX's decision to join forces with a mainstream bank such as Standard Chartered comes right after the US officially removed restrictions on banks around engaging with crypto.Earlier this month, the Office of the Comptroller of the Currency (OCC) allowed banks in the US to offer services like crypto custody and management. The OCC also said customers of US national banks and federal savings associations can access crypto custody services from their lenders in the US and seek assistance in buying or selling of crypto assets. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube. Further reading: Cryptocurrency, FalconX, Standard Chartered, Banking Radhika Parashar Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More Related Stories

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2025-05-14 10:42:47 ·

$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows

MoneyWatch
$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows
How Trump's made money off his meme coin
Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an "intimate dinner" with President Trump, according to data analytics firm Inca Digital. On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be invited to a dinner with the president.
That helped raise the value of the meme coin by more than 40% from the announcement through May 12, partially reversing an 88% slump in the weeks prior.The top holders of the $TRUMP meme coin spent anywhere from as little as $53,500 to as much as $16.4 million to grab one of the dinner invites with Mr.
Trump, Inca Digital's analysis found. As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP, according to the analysis.
While it's impossible to know the identity of any of the account owners due to the anonymity of digital wallets, many of the purchases were made through exchanges that don't accept U.S.
customers, such as Bybit and Gate.io, Inca's research reveals. "A ton of these users sent funds to international exchanges," noted Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running.
"The thought is that if they are interacting with those exchanges, they are not in the U.S."
The dinner contest has raised concerns from government watchdogs and Democratic lawmakers about purchases of a Trump-branded asset being linked to access to the president.
Also, because the $TRUMP coin is partly owned by an affiliate of the Trump Organization, the president's real estate organization, he and his family stand to benefit financially from purchases of the meme coin, critics add.The @TRUMP meme coin site hasn't disclosed the identities of the 220 top holders, who under the promotion are in line to dine with Mr.
Trump.
Tony Carrk, the executive director of watchdog group Accountable.US, expressed concern because those holders are "shrouded by their anonymous crypto usernames." Neither the White House nor the Trump Organization immediately responded to requests for comment.The dinner will take place on May 22 at the Trump National Golf Club in Washington, D.C., according to the $TRUMP meme coin website.
The top 25 holders will "will enjoy a Private VIP Reception with President TRUMP" as well as a "Special VIP TOUR," the site adds.
Eric Trump, one of Mr.
Trump's sons, in January called the $TRUMP coin "the hottest digital meme on earth."How Trump makes money from his meme coinDecentralization is foundational to cryptocurrency.
Bitcoin, the world's most popular crypto, was born in the wake of the 2008 financial crisis as a digital currency meant to be uncontrolled by banks or governments.$TRUMP meme coins can be traded on a decentralized exchange, which is essentially a place where traders can swap goods without a middleman.Instead of matching buyers and sellers one by one, decentralized exchanges use something called a liquidity pool to ensure trades can happen easily and instantly.
Liquidity pools are essentially an automated pot of funds that pair meme coins like $TRUMP with more popular types of crypto that can be easily traded.When the $TRUMP meme coin was first launched, its creators initially released 20% of the planned 1 billion total coins.
Half of that 20% was put up for public sale while the other half was put into a liquidity pool.
CIC Digital, an affiliate of the Trump Organization, and another company called Fight Fight Fight, receive "trading revenue derived from trading activities" of the Trump meme coins, according to its website.Through the liquidity pool, the creators of Mr.
Trump's meme coins make money by charging tiny transactional fees on each trade.
More from CBS News
Aimee Picchi
Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance.
She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
The Associated Press

contributed to this report.

Source: https://www.cbsnews.com/news/trump-meme-coin-top-220-buyers-spent-140-million-analysis/" style="color: #0066cc;">https://www.cbsnews.com/news/trump-meme-coin-top-220-buyers-spent-140-million-analysis/
#trump #meme #coin #buyers #spent #more #than #million #get #dinner #invite #with #data #shows

$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows
MoneyWatch $TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows How Trump's made money off his meme coin Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an "intimate dinner" with President Trump, according to data analytics firm Inca Digital. On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be invited to a dinner with the president. That helped raise the value of the meme coin by more than 40% from the announcement through May 12, partially reversing an 88% slump in the weeks prior.The top holders of the $TRUMP meme coin spent anywhere from as little as $53,500 to as much as $16.4 million to grab one of the dinner invites with Mr. Trump, Inca Digital's analysis found. As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP, according to the analysis. While it's impossible to know the identity of any of the account owners due to the anonymity of digital wallets, many of the purchases were made through exchanges that don't accept U.S. customers, such as Bybit and Gate.io, Inca's research reveals. "A ton of these users sent funds to international exchanges," noted Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running. "The thought is that if they are interacting with those exchanges, they are not in the U.S." The dinner contest has raised concerns from government watchdogs and Democratic lawmakers about purchases of a Trump-branded asset being linked to access to the president. Also, because the $TRUMP coin is partly owned by an affiliate of the Trump Organization, the president's real estate organization, he and his family stand to benefit financially from purchases of the meme coin, critics add.The @TRUMP meme coin site hasn't disclosed the identities of the 220 top holders, who under the promotion are in line to dine with Mr. Trump. Tony Carrk, the executive director of watchdog group Accountable.US, expressed concern because those holders are "shrouded by their anonymous crypto usernames." Neither the White House nor the Trump Organization immediately responded to requests for comment.The dinner will take place on May 22 at the Trump National Golf Club in Washington, D.C., according to the $TRUMP meme coin website. The top 25 holders will "will enjoy a Private VIP Reception with President TRUMP" as well as a "Special VIP TOUR," the site adds. Eric Trump, one of Mr. Trump's sons, in January called the $TRUMP coin "the hottest digital meme on earth."How Trump makes money from his meme coinDecentralization is foundational to cryptocurrency. Bitcoin, the world's most popular crypto, was born in the wake of the 2008 financial crisis as a digital currency meant to be uncontrolled by banks or governments.$TRUMP meme coins can be traded on a decentralized exchange, which is essentially a place where traders can swap goods without a middleman.Instead of matching buyers and sellers one by one, decentralized exchanges use something called a liquidity pool to ensure trades can happen easily and instantly. Liquidity pools are essentially an automated pot of funds that pair meme coins like $TRUMP with more popular types of crypto that can be easily traded.When the $TRUMP meme coin was first launched, its creators initially released 20% of the planned 1 billion total coins. Half of that 20% was put up for public sale while the other half was put into a liquidity pool. CIC Digital, an affiliate of the Trump Organization, and another company called Fight Fight Fight, receive "trading revenue derived from trading activities" of the Trump meme coins, according to its website.Through the liquidity pool, the creators of Mr. Trump's meme coins make money by charging tiny transactional fees on each trade. More from CBS News Aimee Picchi Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. The Associated Press contributed to this report. Source: https://www.cbsnews.com/news/trump-meme-coin-top-220-buyers-spent-140-million-analysis/ #trump #meme #coin #buyers #spent #more #than #million #get #dinner #invite #with #data #shows

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$TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows

MoneyWatch $TRUMP meme coin buyers spent more than $140 million to get dinner invite with Trump, data shows How Trump's made money off his meme coin Buyers spent more than $140 million to snap up $TRUMP meme coins in a bid to secure an invitation to an "intimate dinner" with President Trump, according to data analytics firm Inca Digital. On April 23, the digital currency got a boost when it announced that its top 220 holders as of May 12 would be invited to a dinner with the president. That helped raise the value of the meme coin by more than 40% from the announcement through May 12, partially reversing an 88% slump in the weeks prior.The top holders of the $TRUMP meme coin spent anywhere from as little as $53,500 to as much as $16.4 million to grab one of the dinner invites with Mr. Trump, Inca Digital's analysis found. As of the contest's end on May 12, the biggest holder of the digital currency was an account named Sun VIP, according to the analysis. While it's impossible to know the identity of any of the account owners due to the anonymity of digital wallets, many of the purchases were made through exchanges that don't accept U.S. customers, such as Bybit and Gate.io, Inca's research reveals. "A ton of these users sent funds to international exchanges," noted Austin Ryan, director of marketing for Inca Digital, a firm that analyzes crypto data for risk issues like liquidity and front-running. "The thought is that if they are interacting with those exchanges, they are not in the U.S." The dinner contest has raised concerns from government watchdogs and Democratic lawmakers about purchases of a Trump-branded asset being linked to access to the president. Also, because the $TRUMP coin is partly owned by an affiliate of the Trump Organization, the president's real estate organization, he and his family stand to benefit financially from purchases of the meme coin, critics add.The @TRUMP meme coin site hasn't disclosed the identities of the 220 top holders, who under the promotion are in line to dine with Mr. Trump. Tony Carrk, the executive director of watchdog group Accountable.US, expressed concern because those holders are "shrouded by their anonymous crypto usernames." Neither the White House nor the Trump Organization immediately responded to requests for comment.The dinner will take place on May 22 at the Trump National Golf Club in Washington, D.C., according to the $TRUMP meme coin website. The top 25 holders will "will enjoy a Private VIP Reception with President TRUMP" as well as a "Special VIP TOUR," the site adds. Eric Trump, one of Mr. Trump's sons, in January called the $TRUMP coin "the hottest digital meme on earth."How Trump makes money from his meme coinDecentralization is foundational to cryptocurrency. Bitcoin, the world's most popular crypto, was born in the wake of the 2008 financial crisis as a digital currency meant to be uncontrolled by banks or governments.$TRUMP meme coins can be traded on a decentralized exchange, which is essentially a place where traders can swap goods without a middleman.Instead of matching buyers and sellers one by one, decentralized exchanges use something called a liquidity pool to ensure trades can happen easily and instantly. Liquidity pools are essentially an automated pot of funds that pair meme coins like $TRUMP with more popular types of crypto that can be easily traded.When the $TRUMP meme coin was first launched, its creators initially released 20% of the planned 1 billion total coins. Half of that 20% was put up for public sale while the other half was put into a liquidity pool. CIC Digital, an affiliate of the Trump Organization, and another company called Fight Fight Fight, receive "trading revenue derived from trading activities" of the Trump meme coins, according to its website.Through the liquidity pool, the creators of Mr. Trump's meme coins make money by charging tiny transactional fees on each trade. More from CBS News Aimee Picchi Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. The Associated Press contributed to this report.

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2025-05-14 05:51:51 ·

Google reveals several new safety features coming to Android users

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Google reveals several new safety features coming to Android users
Pradeep Viswanathan
Neowin
@pradeepviswav ·

May 13, 2025 21:10 EDT

Along with the official launch of the Material 3 Expressive design language, Google today revealed several new safety and security features coming to Android users, including improved AI-powered Scam Detection, a revamped Find My Device experience, and more.
Google launched AI-powered Scam Detection last year to block suspicious package delivery and job-seeking scams for Google Messages users.
Today, Google announced that the AI-powered Scam Detection can now detect dangerous crypto and financial scams, toll road scams, gift card scams, and more.
Even with this expanded scam detection coverage, this feature works completely offline on an Android device.
When you are on a phone call, Android now has new in-call protections that will prevent users from performing the following:
Disabling Google Play Protect, Android’s built-in security protection, which is on by default and continuously scans for malicious app behavior, no matter the download source.
Sideloading an app for the first time from a web browser, messaging app, or other source – which may not have been vetted for security and privacy by Google.
Granting accessibility permissions, which can give a newly downloaded malicious app access to gain control over the user's device and steal sensitive/private data, like banking information.
To identify scammers who try to impersonate someone, Google has come up with a new tool called Key Verifier.
This new feature offers a visual way for users and their contacts to easily confirm that their public keys match before starting their conversation.
This new tool will be available later this summer in Google Messages on Android 10+ devices.
Google is improving the theft protection feature that was launched last year.
With the upcoming update, Android will restrict all functionalities on devices that are reset without the owner’s authorization.
Android will also improve the Remote Lock feature with a new security challenge question to prevent unauthorized actions by thieves.
Android's Find My Device app allows users to easily locate their devices and tagged items.
Google is rebranding Find My Device as Find Hub with support for more compatible devices and Bluetooth tags.
For devices and carriers with satellite connectivity, Find Hub will help users stay connected even when the mobile network is unavailable.
Similar to iOS, Android will also get the ability to easily share your Bluetooth tag's location with airlines early next year to locate your lost baggage.
Finally, Google is improving the Advanced Protection feature with the release of Android 16.
New improvements include Intrusion Logging, USB protection, the option to disable auto-reconnect to insecure networks, and integration with Scam Detection for Phone by Google.
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Source: https://www.neowin.net/news/google-reveals-several-new-safety-features-coming-to-android-users/" style="color: #0066cc;">https://www.neowin.net/news/google-reveals-several-new-safety-features-coming-to-android-users/
#google #reveals #several #new #safety #features #coming #android #users

Google reveals several new safety features coming to Android users
When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Google reveals several new safety features coming to Android users Pradeep Viswanathan Neowin @pradeepviswav · May 13, 2025 21:10 EDT Along with the official launch of the Material 3 Expressive design language, Google today revealed several new safety and security features coming to Android users, including improved AI-powered Scam Detection, a revamped Find My Device experience, and more. Google launched AI-powered Scam Detection last year to block suspicious package delivery and job-seeking scams for Google Messages users. Today, Google announced that the AI-powered Scam Detection can now detect dangerous crypto and financial scams, toll road scams, gift card scams, and more. Even with this expanded scam detection coverage, this feature works completely offline on an Android device. When you are on a phone call, Android now has new in-call protections that will prevent users from performing the following: Disabling Google Play Protect, Android’s built-in security protection, which is on by default and continuously scans for malicious app behavior, no matter the download source. Sideloading an app for the first time from a web browser, messaging app, or other source – which may not have been vetted for security and privacy by Google. Granting accessibility permissions, which can give a newly downloaded malicious app access to gain control over the user's device and steal sensitive/private data, like banking information. To identify scammers who try to impersonate someone, Google has come up with a new tool called Key Verifier. This new feature offers a visual way for users and their contacts to easily confirm that their public keys match before starting their conversation. This new tool will be available later this summer in Google Messages on Android 10+ devices. Google is improving the theft protection feature that was launched last year. With the upcoming update, Android will restrict all functionalities on devices that are reset without the owner’s authorization. Android will also improve the Remote Lock feature with a new security challenge question to prevent unauthorized actions by thieves. Android's Find My Device app allows users to easily locate their devices and tagged items. Google is rebranding Find My Device as Find Hub with support for more compatible devices and Bluetooth tags. For devices and carriers with satellite connectivity, Find Hub will help users stay connected even when the mobile network is unavailable. Similar to iOS, Android will also get the ability to easily share your Bluetooth tag's location with airlines early next year to locate your lost baggage. Finally, Google is improving the Advanced Protection feature with the release of Android 16. New improvements include Intrusion Logging, USB protection, the option to disable auto-reconnect to insecure networks, and integration with Scam Detection for Phone by Google. Tags Report a problem with article Follow @NeowinFeed Source: https://www.neowin.net/news/google-reveals-several-new-safety-features-coming-to-android-users/ #google #reveals #several #new #safety #features #coming #android #users

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Google reveals several new safety features coming to Android users

When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Google reveals several new safety features coming to Android users Pradeep Viswanathan Neowin @pradeepviswav · May 13, 2025 21:10 EDT Along with the official launch of the Material 3 Expressive design language, Google today revealed several new safety and security features coming to Android users, including improved AI-powered Scam Detection, a revamped Find My Device experience, and more. Google launched AI-powered Scam Detection last year to block suspicious package delivery and job-seeking scams for Google Messages users. Today, Google announced that the AI-powered Scam Detection can now detect dangerous crypto and financial scams, toll road scams, gift card scams, and more. Even with this expanded scam detection coverage, this feature works completely offline on an Android device. When you are on a phone call, Android now has new in-call protections that will prevent users from performing the following: Disabling Google Play Protect, Android’s built-in security protection, which is on by default and continuously scans for malicious app behavior, no matter the download source. Sideloading an app for the first time from a web browser, messaging app, or other source – which may not have been vetted for security and privacy by Google. Granting accessibility permissions, which can give a newly downloaded malicious app access to gain control over the user's device and steal sensitive/private data, like banking information. To identify scammers who try to impersonate someone, Google has come up with a new tool called Key Verifier. This new feature offers a visual way for users and their contacts to easily confirm that their public keys match before starting their conversation. This new tool will be available later this summer in Google Messages on Android 10+ devices. Google is improving the theft protection feature that was launched last year. With the upcoming update, Android will restrict all functionalities on devices that are reset without the owner’s authorization. Android will also improve the Remote Lock feature with a new security challenge question to prevent unauthorized actions by thieves. Android's Find My Device app allows users to easily locate their devices and tagged items. Google is rebranding Find My Device as Find Hub with support for more compatible devices and Bluetooth tags. For devices and carriers with satellite connectivity, Find Hub will help users stay connected even when the mobile network is unavailable. Similar to iOS, Android will also get the ability to easily share your Bluetooth tag's location with airlines early next year to locate your lost baggage. Finally, Google is improving the Advanced Protection feature with the release of Android 16. New improvements include Intrusion Logging, USB protection, the option to disable auto-reconnect to insecure networks, and integration with Scam Detection for Phone by Google. Tags Report a problem with article Follow @NeowinFeed

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2025-05-14 02:37:39 ·

AI agents can be manipulated into giving away your crypto, according to Princeton researchers
Letting an AI agent run your finances could be hazardous to your wealth.
Source: https://www.tomshardware.com/tech-industry/cryptocurrency/ai-agents-can-be-manipulated-into-giving-away-your-crypto-according-to-princeton-researchers" style="color: #0066cc;">https://www.tomshardware.com/tech-industry/cryptocurrency/ai-agents-can-be-manipulated-into-giving-away-your-crypto-according-to-princeton-researchers
#agents #can #manipulated #into #giving #away #your #crypto #according #princeton #researchers

AI agents can be manipulated into giving away your crypto, according to Princeton researchers
Letting an AI agent run your finances could be hazardous to your wealth. Source: https://www.tomshardware.com/tech-industry/cryptocurrency/ai-agents-can-be-manipulated-into-giving-away-your-crypto-according-to-princeton-researchers #agents #can #manipulated #into #giving #away #your #crypto #according #princeton #researchers

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AI agents can be manipulated into giving away your crypto, according to Princeton researchers

Letting an AI agent run your finances could be hazardous to your wealth.

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2025-05-14 02:30:07 ·

Elon Musk’s apparent power play at the Copyright Office completely backfired
What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry.
When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use.
And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check.
Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases.
Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep.
Jim Jordan on Big Tech investigations.
And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case.
As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems.
Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I.
& Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China.
No, we don’t have to steal content to compete with China.
We don’t have slave labor to compete with China.
It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge.
“It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it.
That’s the opposite of fair use.
That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep.
Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen.
Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law.
But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material.
However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary.
The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it.
“Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing.
“This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all.
None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office.
And for now, this counts as a political win for the anti-tech populists, even if nothing further happens.
“Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue.
“You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress.
The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory.
It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies.
(Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward.
The constitutional crisis — one of many across the federal government — remains ongoing.
Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More:
Source: https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter" style="color: #0066cc;">https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter
#elon #musks #apparent #power #play #the #copyright #office #completely #backfired

Elon Musk’s apparent power play at the Copyright Office completely backfired
What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry. When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use. And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check. Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases. Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep. Jim Jordan on Big Tech investigations. And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case. As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems. Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I. & Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China. No, we don’t have to steal content to compete with China. We don’t have slave labor to compete with China. It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge. “It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it. That’s the opposite of fair use. That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep. Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen. Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law. But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material. However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary. The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it. “Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing. “This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all. None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office. And for now, this counts as a political win for the anti-tech populists, even if nothing further happens. “Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue. “You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress. The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory. It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies. (Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward. The constitutional crisis — one of many across the federal government — remains ongoing. Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More: Source: https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter #elon #musks #apparent #power #play #the #copyright #office #completely #backfired

WWW.THEVERGE.COM

Elon Musk’s apparent power play at the Copyright Office completely backfired

What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry. When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use. And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check. Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases. Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep. Jim Jordan on Big Tech investigations. And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case. As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems. Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I. & Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China. No, we don’t have to steal content to compete with China. We don’t have slave labor to compete with China. It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge. “It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it. That’s the opposite of fair use. That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep. Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen. Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law. But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material. However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary. The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it. “Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing. “This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all. None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office. And for now, this counts as a political win for the anti-tech populists, even if nothing further happens. “Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue. “You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress. The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory. It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies. (Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward. The constitutional crisis — one of many across the federal government — remains ongoing. Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More:

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Futurism paylaşılan bir bağlantı

2025-05-14 01:21:23 ·

Trump's Memecoin Tanked, But His Family Has a New Crypto Hustle
Like father, like sons.
Scam FamDonald Trump's eponymous meme coin is all but worthless now — but that's not stopping his kids from launching their next crypto scheme.
As Bloomberg and other outlets report, the president's sons, Eric and Donald Jr., are taking their Bitcoin mining venture public on the traditional stock markets.Known as American Bitcoin Inc., the Trump boys' mining and strategic reserve company is slated to be acquired by Gryphon, another crypto mining firm.
When news of the deal broke, shares for Gryphon spiked a whopping 460 percent to $2.93 per share — though it's since dropped down below $2.00.Previously known as American Data Centers Inc., the venture was launched in February by the elder Trump sons and a group of investors.
With the merger, existing investors will own about 98 percent of the company, which will trade under the ticker ABTC.As CNBC notes, Eric Trump, the company's cofounder and chief strategy officer, has distanced himself from his father's administration to focus on crypto full-time without the appearance of conflict of interest."We won the space race," the middle Trump son told CNBC back in early April.
"We better win the crypto race."Little WinsNotably, this merger comes at the same time as the president's own flailing crypto venture, his eponymous $TRUMP coin, hosted a bizarre contest: a dinner with the POTUS for those who own the most of the meme coin.Though new buyers spent nearly $150 million to get the chance to dine with Trump at one of his golf clubs, savvier investors figured out a smarter scheme.According to the New York Times, at least 17 of the 220 winning bidders of the contest no longer had any of the coin by the end of the three-week contest period.
They apparently exploited a loophole that stipulated only that top bidders must have $TRUMP coin in their wallets before the contest window ended, rather than having it at the time it closed — essentially suggesting that those holders sold off their coins to eager investors while raking in the wins for themselves.Despite the likely corrupt drama surrounding that scheme, $TRUMP is still only worth about $12.75 per token — more than its all-time low of around $7.50 last month, which fell in the wake of the president's tariffs announcement, but that's not saying much.Share This Article
Source: https://futurism.com/the-byte/trump-family-crypto-bitcoin-mining" style="color: #0066cc;">https://futurism.com/the-byte/trump-family-crypto-bitcoin-mining
#trump039s #memecoin #tanked #but #his #family #has #new #crypto #hustle

Trump's Memecoin Tanked, But His Family Has a New Crypto Hustle
Like father, like sons. Scam FamDonald Trump's eponymous meme coin is all but worthless now — but that's not stopping his kids from launching their next crypto scheme. As Bloomberg and other outlets report, the president's sons, Eric and Donald Jr., are taking their Bitcoin mining venture public on the traditional stock markets.Known as American Bitcoin Inc., the Trump boys' mining and strategic reserve company is slated to be acquired by Gryphon, another crypto mining firm. When news of the deal broke, shares for Gryphon spiked a whopping 460 percent to $2.93 per share — though it's since dropped down below $2.00.Previously known as American Data Centers Inc., the venture was launched in February by the elder Trump sons and a group of investors. With the merger, existing investors will own about 98 percent of the company, which will trade under the ticker ABTC.As CNBC notes, Eric Trump, the company's cofounder and chief strategy officer, has distanced himself from his father's administration to focus on crypto full-time without the appearance of conflict of interest."We won the space race," the middle Trump son told CNBC back in early April. "We better win the crypto race."Little WinsNotably, this merger comes at the same time as the president's own flailing crypto venture, his eponymous $TRUMP coin, hosted a bizarre contest: a dinner with the POTUS for those who own the most of the meme coin.Though new buyers spent nearly $150 million to get the chance to dine with Trump at one of his golf clubs, savvier investors figured out a smarter scheme.According to the New York Times, at least 17 of the 220 winning bidders of the contest no longer had any of the coin by the end of the three-week contest period. They apparently exploited a loophole that stipulated only that top bidders must have $TRUMP coin in their wallets before the contest window ended, rather than having it at the time it closed — essentially suggesting that those holders sold off their coins to eager investors while raking in the wins for themselves.Despite the likely corrupt drama surrounding that scheme, $TRUMP is still only worth about $12.75 per token — more than its all-time low of around $7.50 last month, which fell in the wake of the president's tariffs announcement, but that's not saying much.Share This Article Source: https://futurism.com/the-byte/trump-family-crypto-bitcoin-mining #trump039s #memecoin #tanked #but #his #family #has #new #crypto #hustle

FUTURISM.COM

Trump's Memecoin Tanked, But His Family Has a New Crypto Hustle

Like father, like sons. Scam FamDonald Trump's eponymous meme coin is all but worthless now — but that's not stopping his kids from launching their next crypto scheme. As Bloomberg and other outlets report, the president's sons, Eric and Donald Jr., are taking their Bitcoin mining venture public on the traditional stock markets.Known as American Bitcoin Inc., the Trump boys' mining and strategic reserve company is slated to be acquired by Gryphon, another crypto mining firm. When news of the deal broke, shares for Gryphon spiked a whopping 460 percent to $2.93 per share — though it's since dropped down below $2.00.Previously known as American Data Centers Inc., the venture was launched in February by the elder Trump sons and a group of investors. With the merger, existing investors will own about 98 percent of the company, which will trade under the ticker ABTC.As CNBC notes, Eric Trump, the company's cofounder and chief strategy officer, has distanced himself from his father's administration to focus on crypto full-time without the appearance of conflict of interest."We won the space race," the middle Trump son told CNBC back in early April. "We better win the crypto race."Little WinsNotably, this merger comes at the same time as the president's own flailing crypto venture, his eponymous $TRUMP coin, hosted a bizarre contest: a dinner with the POTUS for those who own the most of the meme coin.Though new buyers spent nearly $150 million to get the chance to dine with Trump at one of his golf clubs, savvier investors figured out a smarter scheme.According to the New York Times, at least 17 of the 220 winning bidders of the contest no longer had any of the coin by the end of the three-week contest period. They apparently exploited a loophole that stipulated only that top bidders must have $TRUMP coin in their wallets before the contest window ended, rather than having it at the time it closed — essentially suggesting that those holders sold off their coins to eager investors while raking in the wins for themselves.Despite the likely corrupt drama surrounding that scheme, $TRUMP is still only worth about $12.75 per token — more than its all-time low of around $7.50 last month, which fell in the wake of the president's tariffs announcement, but that's not saying much.Share This Article

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CNBC Technology paylaşılan bir bağlantı

2025-05-14 00:53:21 ·

Stock and crypto trading site eToro prices IPO at $52 per share ahead of Nasdaq debut
Israel-based stock brokerage platform eToro said it has priced shares for its IPO at $52, which would value the company at about $4.2 billion
Source: https://www.cnbc.com/2025/05/13/etoro-prices-ipo-52-per-share.html" style="color: #0066cc;">https://www.cnbc.com/2025/05/13/etoro-prices-ipo-52-per-share.html
#stock #and #crypto #trading #site #etoro #prices #ipo #per #share #ahead #nasdaq #debut

Stock and crypto trading site eToro prices IPO at $52 per share ahead of Nasdaq debut
Israel-based stock brokerage platform eToro said it has priced shares for its IPO at $52, which would value the company at about $4.2 billion Source: https://www.cnbc.com/2025/05/13/etoro-prices-ipo-52-per-share.html #stock #and #crypto #trading #site #etoro #prices #ipo #per #share #ahead #nasdaq #debut

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Stock and crypto trading site eToro prices IPO at $52 per share ahead of Nasdaq debut

Israel-based stock brokerage platform eToro said it has priced shares for its IPO at $52, which would value the company at about $4.2 billion

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2025-05-13 22:22:09 ·

Elon Musk’s apparent power play at the Copyright Office completely backfired
What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry.
When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use.
And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check.
Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases.
Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep.
Jim Jordan on Big Tech investigations.
And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case.
As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems.
Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I.
& Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China.
No, we don’t have to steal content to compete with China.
We don’t have slave labor to compete with China.
It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge.
“It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it.
That’s the opposite of fair use.
That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep.
Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen.
Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law.
But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material.
However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary.
The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it.
“Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing.
“This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all.
None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office.
And for now, this counts as a political win for the anti-tech populists, even if nothing further happens.
“Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue.
“You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress.
The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory.
It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies.
(Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward.
The constitutional crisis — one of many across the federal government — remains ongoing.
Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More:
Source: https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter" style="color: #0066cc;">https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter
#elon #musks #apparent #power #play #the #copyright #office #completely #backfired

Elon Musk’s apparent power play at the Copyright Office completely backfired
What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry. When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use. And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check. Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases. Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep. Jim Jordan on Big Tech investigations. And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case. As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems. Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I. & Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China. No, we don’t have to steal content to compete with China. We don’t have slave labor to compete with China. It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge. “It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it. That’s the opposite of fair use. That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep. Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen. Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law. But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material. However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary. The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it. “Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing. “This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all. None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office. And for now, this counts as a political win for the anti-tech populists, even if nothing further happens. “Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue. “You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress. The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory. It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies. (Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward. The constitutional crisis — one of many across the federal government — remains ongoing. Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More: Source: https://www.theverge.com/politics/666179/maga-elon-musk-sacks-copyright-office-perlmutter #elon #musks #apparent #power #play #the #copyright #office #completely #backfired

WWW.THEVERGE.COM

Elon Musk’s apparent power play at the Copyright Office completely backfired

What initially appeared to be a power play by Elon Musk and the Department of Government Efficiency (DOGE) to take over the US Copyright Office by having Donald Trump remove the officials in charge has now backfired in spectacular fashion, as Trump’s acting replacements are known to be unfriendly — and even downright hostile — to the tech industry. When Trump fired Librarian of Congress Carla Hayden last week and Register of Copyrights Shira Perlmutter over the weekend, it was seen as another move driven by the tech wing of the Republican Party — especially in light of the Copyright Office releasing a pre-publication report saying some kinds of generative AI training would not be considered fair use. And when two men showed up at the Copyright Office inside the Library of Congress carrying letters purporting to appoint them to acting leadership positions, the DOGE takeover appeared to be complete.But those two men, Paul Perkins and Brian Nieves, were not DOGE at all, but instead approved by the MAGA wing of the Trump coalition that aims to put tech companies in check. Perkins, now the supposed acting Register of Copyrights, is an eight-year veteran of the DOJ who served in the first Trump administration prosecuting fraud cases. Nieves, the putative acting deputy librarian, is currently at the Office of the Deputy Attorney General, having previously been a lawyer on the House Judiciary Committee, where he worked with Rep. Jim Jordan on Big Tech investigations. And Todd Blanche, the putative Acting Librarian of Congress who would be their boss, is a staunch Trump ally who represented him during his 2024 Manhattan criminal trial, and is now the Deputy Attorney General overseeing the DOJ’s side in the Google Search remedies case. As one government affairs lobbyist told The Verge, Blanche is “there to stick it to tech.”The appointments of Blanche, Perkins, and Nieves are the result of furious lobbying over the weekend by the conservative content industry — as jealously protective of its copyrighted works as any other media companies — as well as populist Republican lawmakers and lawyers, all enraged that Silicon Valley had somehow persuaded Trump to fire someone who’d recently criticized AI companies.Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and David SacksThe populists were particularly rankled over Perlmutter’s removal from the helm of the Copyright Office, which happened the day after the agency released a pre-publication version of its report on the use of copyrighted material in training generative AI systems. Sources speaking to The Verge are convinced the firings were a tech industry power play led by Elon Musk and “White House A.I. & Crypto Czar” David Sacks, meant to eliminate any resistance to AI companies using copyrighted material to train models without having to pay for it.“You can say, well, we have to compete with China. No, we don’t have to steal content to compete with China. We don’t have slave labor to compete with China. It’s a bullshit argument,” Mike Davis, the president of the Article III project and a key antitrust advisor to Trump, told The Verge. “It’s not fair use under the copyright laws to take everyone’s content and have the big tech platforms monetize it. That’s the opposite of fair use. That’s a copyright infringement.”It’s the rare time that MAGA world is in agreement with the Democratic Party, which has roundly condemned the firings of Hayden and Perlmutter, and also zeroed in on the Musk-Sacks faction as the instigator.In a press release, Rep. Joe Morelle (D-NY) characterized the hundred-plus-page report, the third installment of a series that the office has put out on copyright and artificial intelligence, as “refus[ing] to rubber-stamp Elon Musk’s efforts to mine troves of copyrighted works to train AI models.” Meanwhile, Sen. Ron Wyden (D-OR), who told The Verge in an emailed statement that the president had no power to fire either Hayden or Perlmutter, said, “This all looks like another way to pay back Elon Musk and the other AI billionaires who backed Trump’s campaign.”The agency’s interpretation of what is or isn’t fair use does not have binding force on the courtsPublications like the AI report essentially lay out how the Copyright Office interprets copyright law. But the agency’s interpretation of what is or isn’t fair use does not have binding force on the courts, so a report like this one functions mostly as expert commentary and reference material. However, the entire AI industry is built on an expansive interpretation of copyright law that’s currently being tested in the courts — a situation that’s created dire need for exactly this sort of expert commentary. The AI report applies the law of fair use to different kinds of AI training and usage, concluding that although outcomes might differ case by case, “making commercial use of vast troves of copyrighted works to produce expressive content that competes with them in existing markets, especially where this is accomplished through illegal access, goes beyond established fair use boundaries.” But far from advising drastic action in response to what the Office believes is rampant copyright infringement, the report instead states that “government intervention would be premature at this time,” given that licensing agreements are being made across various sectors.“Now tech bros are going to steal creators’ copyrights for AP profits”The unoffending nature of the report made Perlmutter’s removal all the more alarming to the MAGA ideologues in Trump’s inner circle, who saw this as a clear power grab, and were immediately vocal about it. “Now tech bros are going to steal creators’ copyrights for AP profits,” Davis posted immediately on Truth Social, along with a link to a CBS story about Perlmutter’s firing. “This is 100% unacceptable.” Curiously, just after Davis published the post, Trump reposted it, link and all. None of Trump’s purported appointees have a particularly relevant background for their new jobs — but they are certainly not DOGE people and, generally speaking, are not the kind of people that generative AI proponents would want in the office. And for now, this counts as a political win for the anti-tech populists, even if nothing further happens. “Sometimes when you make a pitch to leadership to get rid of someone, the person who comes in after isn’t any better,” said a source familiar with the dynamic between the White House and both sides of the copyright issue. “You don’t necessarily get to name the successor and fire someone, and so in many cases, I’ve seen people get pushed out the door and the replacement is even worse.”RelatedThe speed of the firings and subsequent power struggle, however, have underscored the brewing constitutional crisis sparked by Trump’s frequent firing of independent agency officials confirmed by Congress. The Library of Congress firings, in particular, reach well past the theory of executive power claimed by the White House and into even murkier territory. It’s legally dubious whether the Librarian of Congress can be removed by the president, as the Library, a legislative branch agency that significantly predates the administrative state, does not fit neatly into the modern-day legal framework of federal agencies. (Of course, everything about the law is in upheaval even where agencies do fit the framework.) Regardless, the law clearly states that the Librarian of Congress — not the president — appoints the Register of Copyrights.At the moment, the Library of Congress has not received any direction from Congress on how to move forward. The constitutional crisis — one of many across the federal government — remains ongoing. Elon Musk and xAI did not respond to a request for comment.Additional reporting by Sarah Jeong.See More:

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Elon Musk’s apparent power play at the Copyright Office completely backfired