At 7:33 pm eastern yesterday, Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, was found guilty of seven counts of fraud and conspiracy. The crypto industry exhaled. The verdict was a “huge relief,” says market analyst Noelle Acheson, formerly of crypto brokerage Genesis. The fraud at FTX, which threw the crypto world into a spin… Continue reading ‘Party Time!’ Crypto Land Celebrates as Sam Bankman-Fried Is Found Guilty
Author: Wired Magazine
Sam Bankman-Fried Has Been Found Guilty of Fraud
The US Department of Justice (DoJ), says Estes, will consider Bankman-Fried’s conviction a “signature victory,” as its first high-profile crypto scalp. Cryptocurrency has been used for more than a decade to conceal payment for illicit products, enable extortion-based cyberattacks and launder the proceeds of criminal activity. In 2021, the DoJ announced the formation of a… Continue reading Sam Bankman-Fried Has Been Found Guilty of Fraud
Swedish Ports Threaten to Block Teslas From Entering the Country
Workers at the seven Tesla-branded Swedish repair shops earn less and lack the same pensions and insurance as other mechanics in the industry, Pettersson claims. Tesla did not respond to WIRED’s request for comment. Sweden was Tesla’s fifth-biggest market in Europe this year, with 16,309 new vehicles registered in the first nine months, according to… Continue reading Swedish Ports Threaten to Block Teslas From Entering the Country
World Powers Say They Want to Contain AI. They’re Also Racing to Advance It
Yesterday, 28 countries including the US, members of the EU, and China signed a declaration warning that artificial intelligence is advancing with such speed and uncertainty that it could cause “serious, even catastrophic, harm.” The declaration, announced at the AI Safety Summit organized by the British government and held at the historic World War II… Continue reading World Powers Say They Want to Contain AI. They’re Also Racing to Advance It
Microsoft Does Damage Control With Its New ‘Secure Future Initiative’
Today, in a blog post and email to employees, Microsoft is announcing a broad vision for tackling the cybersecurity challenges that have increasingly plagued the company and its customers in recent years. Known as the Secure Future Initiative, the plan leans heavily on artificial intelligence tools as a “game changer” and also includes a call… Continue reading Microsoft Does Damage Control With Its New ‘Secure Future Initiative’
Joe Biden Wants US Government Algorithms Tested for Potential Harm Against Citizens
“The framework enables a set of binding requirements for federal agencies to put in place safeguards for the use of AI so that we can harness the benefits and enable the public to trust the services the federal government provides,” says Jason Miller, OMB’s deputy director for management. The draft memo highlights certain uses of… Continue reading Joe Biden Wants US Government Algorithms Tested for Potential Harm Against Citizens
The New Era of Social Media Looks as Bad for Privacy as the Last One
When Elon Musk took over Twitter in October 2022, experts warned that his proposed changes—including less content moderation and a subscription-based verification system—would lead to an exodus of users and advertisers. A year later, those predictions have largely borne out. Advertising revenue on the platform has declined 55 percent since Musk’s takeover, and the number… Continue reading The New Era of Social Media Looks as Bad for Privacy as the Last One
Honda Motocompacto First Look (2023): Specs, Price, Release Date
I ride a lot of electric kick scooters here in New York City, and no one has ever smiled fondly at me as I zip around town. I get the occasional, “How fast does it go?” when I’m on the burlier scooters, but that’s it. Riding Honda’s new Motocompacto, however, was a heck of a… Continue reading Honda Motocompacto First Look (2023): Specs, Price, Release Date
Facebook Finally Puts a Price on Privacy: It’s $10 a Month
How much is privacy worth? Is a yearly subscription for a VPN justified? Is it better to pay with your time, changing the privacy settings on every website you visit? What is a fair price to stop data about who you are and how you behave being used to inform ads? Different companies have different… Continue reading Facebook Finally Puts a Price on Privacy: It’s $10 a Month
Live Updates: The Trial of FTX Founder Sam Bankman-Fried, the Verdict
As the closing arguments continue, let’s recap the charges filed against Bankman-Fried. There are twelve in total, seven of which are being tried at this, the first of two trails: Conspiracy to commit wire fraud on customers of FTX Wire fraud on customers of FTX Conspiracy to commit wire fraud on lenders to Alameda Research… Continue reading Live Updates: The Trial of FTX Founder Sam Bankman-Fried, the Verdict