Techmeme
December 22, 2020, 7:05 PM

Top News

Nikhilesh De / CoinDesk:
SEC sues Ripple Labs, its CEO Brad Garlinghouse, and Chairman Chris Larsen, alleging they violated federal securities laws in selling XRP to retail consumers  —  The U.S. Securities and Exchange Commission (SEC) believes Ripple Labs violated federal securities laws in selling the XRP cryptocurrency to retail consumers.
Wall Street Journal:
Draft lawsuit filed by ten US states last week says Facebook and Google agreed to “cooperate and assist one another” against possible antitrust action  —  Draft lawsuit quotes Facebook's Sandberg saying Google pact was a ‘big deal strategically’
Washington Post:
Sources: in the early stages of US antitrust investigations, Facebook offered to help others build a social networking competitor using its network and code  —  The company ramped up its lobbying, hired high-powered lawyers and launched a slew of internal initiatives as the government prepared to sue …
Jennifer Epstein / Bloomberg:
Biden transition team says Twitter told it current followers of @POTUS won't carry over to Biden, whose @POTUS account will start at zero, a reversal from 2017  —  - Followers were transfered to Trump from Obama in 2017  — First lady, press secretary accounts also reset to zero
Shoshana Wodinsky / Gizmodo:
Analysis: of the 60 biggest brands that paused Facebook ads in 2020, only ~10 continue to do so, and some of those have kept spending using other Facebook tools  —  This past summer, dozens of major brands pulled their ad dollars from Facebook in a protest of the company's handling of the hate speech and disinformation.
Kurt Wagner / Bloomberg:
Catalin Cimpanu / ZDNet:
Three VPNs popular with criminals and active for over a decade have had their servers and web domains seized by law enforcement from US, Germany, France, others  —  The three VPN services provided safe haven for cybercriminals to carry out ransomware attacks, web skimming operations, spearphishing, and account takeovers.
Alex Gallagher / NME:
The COVID-19 relief bill passed by Congress includes the Felony Streaming Bill, which makes illegal streaming for profit a felony, with up to 10 years jail time  —  Targeting illegal for-profit streaming providers, not individual users  —  The US Congress has passed a COVID-19 stimulus bill …
Substack Blog:
Explaining its content moderation policy, Substack says it will “resist public pressure to suppress voices that loud objectors deem unacceptable”  —  Building a system that puts readers and writers in charge  —  As Substack grows, there is increasing interest in the stance we take on content moderation.
Dana Mattioli / Wall Street Journal:
Investigation details Amazon's campaigns over the years to steamroll rivals and partners, including those on its marketplace, sometimes with Bezos' involvement  —  CEO Jeff Bezos still runs the e-commerce giant with the drive of a startup trying to survive, and that strand of its corporate DNA is becoming a liability
Catalin Cimpanu / ZDNet:
Group of 19 security firms and tech companies including Microsoft and McAfee form Ransomware Task Force to develop a standard framework to deal with ransomware  —  The newly-founded Ransomware Task Force will work to put together a standard framework for dealing with ransomware attacks.
Electronic Frontier Foundation:
The US government's proposal for crypto exchanges to collect identity data from users with self-hosted crypto wallets will expand the US' financial surveillance  —  One of the most important aspects of cryptocurrencies from a civil liberties perspective is that they can provide privacy protections for their users.
Alexander Osipovich / Wall Street Journal:
SEC approves NYSE's plan to let companies raise capital and issue new shares via direct listings, potentially helping startups save on bank fees  —  Proposal lets companies raise capital through direct listings  —  The Securities and Exchange Commission will allow companies …

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Simon Parkin / New Yorker:
Dean Takahashi / VentureBeat:
Vikas SN / The Economic Times:
New York Times:
Raphael Satter / Reuters:
Reuters:
Lawrence Abrams / BleepingComputer: