Author: GT

Apple continues its focus on hardware produced in-house, and is currently working on a new generation of chips for future hardware, according to Bloomberg.The processors are thought to be destined for use in smart glasses, AI-capable servers, and the next generations of Macs.One project involves a custom chip designed for smart glasses, which are thought to offer voice commands, photo capture, and audio playback, but will not be full augmented reality (AR) devices. The chip design is based on the low-power components used at present in the latest models of the Apple Watch, but modified to use less energy and…

Bitcoin (BTC-USD) surged above $102,000 on Thursday to touch its highest level since late January. The world’s largest cryptocurrency rose alongside the overall market after President Trump unveiled a trade deal with the UK, signaling a deescalation of tariffs. Coinbase’s (COIN) announcement earlier in the day about the crypto exchange’s deal to acquire options platform Deribit for $2.9 billion also helped boost sentiment in the sector. Bitcoin rose as much as 5% to trade north of $102,147 near 4:45 p.m. ET on Thursday after Trump spoke in the Oval Office earlier that day about the UK agreement and indicated other…

A group of investors are considering a plan to inject another $30 million into BluSmart in a bid to revive the Indian cab-hailing startup, which abruptly halted operations last month, TechCrunch has learned. The proposal from these existing investors has a catch: It’s contingent on BluSmart co-founder Anmol Singh Jaggi agreeing to resign.The proposed investment will be treated in the form of unsecured debt and will be aimed at fixing the startup’s operational liabilities, including pending dues and employee salaries, two sources told TechCrunch. BluSmart’s investors with pro rata rights, including BP Ventures and Switzerland-based ResponsAbility, started discussing the resolution…

By Jonathan Stempel NEW YORK (Reuters) – Alex Mashinsky, the founder and former chief executive of bankruptcy cryptocurrency lender Celsius Network, was sentenced on Thursday to 12 years in prison after pleading guilty in December to securities fraud and commodities fraud. Mashinsky’s sentence was imposed by U.S. District Judge John Koeltl in Manhattan, and is among the longest in a criminal case arising from the 2022 meltdown in cryptocurrency markets. Sam Bankman-Fried, who led the FTX exchange, is serving a 25-year prison sentence after being convicted of fraud. He is appealing. Federal prosecutors said Mashinsky, 59, misled customers about Celsius’…

HAWESVILLE, KY – May 10 Plant workers drive along an aluminum potline at Century Aluminum Company’s Hawesville plant in Hawesville, Ky. on Wednesday, May 10, 2017. (Photo by Luke Sharrett /For The Washington Post via Getty Images) AluminumThe Washington Post | The Washington Post | Getty ImagesSweeping tariffs on imported aluminum imposed by U.S. President Donald Trump are succeeding in reshaping global trade flows and inflating costs for American consumers, but are falling short of their primary goal: to revive domestic aluminum production.Instead, rising costs, particularly skyrocketing electricity prices in the U.S. relative to global competitors, are leading to smelter…

Meta CEO Mark Zuckerberg, Instagram head Adam Mosseri, and other Meta execs thought that TikTok was beating Meta at its own game. That’s according to a new filing in the U.S. Federal Trade Commission’s antitrust lawsuit against the tech giant, published on Monday. The document, dated February 2022, includes conversations among a number of Meta execs discussing Facebook and Instagram’s strategy and market position. In one message, Zuckerberg called Facebook a “challenger” that has “lost the mindshare and momentum,” while adding that TikTok creates a “feeling of shared context” where friends see the same memes, he said. Mosseri also agreed…

SOPA Images / Getty Images Coinbase said Thursday it agreed to acquire Deribit, a crypto options exchange, for $2.9 billion Coinbase (COIN) reported first-quarter earnings that missed analysts’ expectations, and shares dropped in extended trading on the heels of a Bitcoin-driven rally Thursday. The cryptocurrency exchange reported revenue of $2.03 billion, up 24% year-over-year but below below the analyst consensus from Visible Alpha. Adjusted net income of $526.63 million, or $1.94 per share, fell from $679.2 million, or $2.53 per share, a year earlier, well short of estimates. Coinbase shares slid close to 3% in extended trading following the release,…

Amazon says that it has developed a new warehouse robot, Vulcan, that can “feel” some of the items it touches. The two-armed Vulcan, which can maneuver goods inside the storage compartments Amazon has in its warehouses, uses force sensors to help it know when it makes contact with an object. One arm rearranges items in a compartment, while the second arm — which is equipped with a camera and suction cup — grabs items. Amazon says that Vulcan was trained on physical data, including force and touch feedback to pick around 75% of Amazon’s stock, and that it’s capable of self-improving…

During a conversation with TheStreet Roundtable Scott Melker, James Putra, SVP of Strategy at TradeStation, broke down how traditional hedging strategies are finally becoming viable in the crypto markets. “In the past, you really couldn’t execute any traditional hedging strategies in crypto,” Melker noted, pointing to the historical lack of tools like options. Putra didn’t hesitate. “100%,” he replied. “We’re seeing a lot of interested people doing the basis trade… ETF products being used as margin to leverage up into other areas.” Founded in 1982, TradeStation is a U.S.-based online brokerage platform that offers trading services for stocks, options, futures,…

Lucid Motors has been working through some quality “hiccups” in the early stages of delivering its long-awaited electric SUV, according to interim CEO Marc Winterhoff. “It is true that we had some technical issues that we had to overcome around software” and the Gravity’s heads-up display, Winterhoff said on a conference call Tuesday. “There have been some hiccups. To be quite frank, I think this is absolutely normal in the beginning of launching a vehicle.” In particular, Winterhoff cited supply chain issues with Gravity’s heads-up display as a source of trouble. The company has pulled that option back for now…