George Saliba didn’t get it: Why were all these people from the Bronx suddenly crowding his electric vehicle dealership in Ewing, New Jersey? Why did they all want Tesla’s black-on-black Model Y? And why did they keep coming? Other electric vehicle sellers in the tri-state area were equally busy. The …
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A $5.93 mobile phone holder seemed like a gamble worth taking for Michelle Zhang. During the past year, she has become a regular shopper on the cut-price ecommerce app Temu, mostly purchasing home and kitchen appliances. “Things on Temu are usually less than half of their prices on Amazon, and …
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For years, the world's largest cryptocurrency exchange, Binance, has been dogged by rumors of malfeasance and federal investigations. Today, in a set of accusations that will rock the already tumultuous world of crypto, the US Department of Justice revealed criminal charges against the company and its chief executive, Changpeng Zhao, …
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More than three days after OpenAI was thrown into chaos by Sam Altman’s sudden firing from his post as CEO, one big question remains unanswered: Why? Altman was removed by OpenAI’s nonprofit board through an unconventional governance structure that, as one of the company’s cofounders, he helped to create. It …
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For the past five years, the US Department of Justice has reportedly been investigating Binance, the world’s largest crypto exchange, for suspected money laundering, unlicensed money transmission, and criminal sanctions violations. But now, according to a report in Bloomberg, the DOJ is willing to settle—for $4 billion. Citing anonymous sources, …
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In the fight to regulate short-term rentals, New Orleans had a novel idea—it would hold a lottery. The plan was simple: Carve up the city into blocks and use a hand-cranked lottery machine to draw numbers, allowing one rental property per residential block. For the winners, the prize was a …
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Binance and its chief executive, Changpeng Zhao, pleaded guilty to criminal charges for anti-money laundering and violations of US sanctions under a sweeping deal with the US Department of Justice. The deal, which will allow the company to continue to operate, will also see Zhao step down as CEO. Binance …
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On Monday, X filed a lawsuit against Media Matters for America (MMFA), a nonprofit, alleging that a recent report showing big name advertisers appearing next to antisemitic content on X was an attempt to “destroy” the company by encouraging advertisers to pull their money. Shortly after, Texas Attorney General Ken …
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Almost the entire staff of OpenAI has now signed a letter threatening to leave and join a new venture led by ousted CEO, Sam Altman. Some 738 out of its around 770 employees, about 95 percent of the company, are now listed on the letter released early this morning. The …
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It took Steve Jobs 12 years to return as CEO after leaving the company he cofounded, and it looked like ousted OpenAI CEO, Sam Altman, was perhaps going to do it in three days. But late Sunday, Emmett Shear, who formerly led Amazon’s streaming platform Twitch, was appointed interim CEO …
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