Techmeme
March 23, 2023, 12:10 PM

Top News

Washington Post:
A live blog of TikTok CEO Shou Zi Chew's testimony before Congress, as he attempts to address national security concerns over ByteDance's ownership of the app  —  Updated just now  —  TikTok CEO Shou Zi Chew is testifying before Congress for the first time, in an attempt to address lawmakers' worries …
Ryan McMorrow / Financial Times:
Stu Woo / Wall Street Journal:
A profile of TikTok CEO Shou Zi Chew, a Singaporean army reservist and an ex-Goldman Sachs banker, as he defends TikTok before a skeptical Congress  —  Singapore army reservist and ex-Goldman banker says misconceptions about Chinese-owned app need to be clarified  —  How TikTok Could Become a U.S. Company
Washington Post:
CNBC:
Coinbase says it received an SEC notice warning the exchange of potential US securities law violations that could lead to enforcement actions; COIN drops 10%+  —  - The SEC issued crypto exchange Coinbase a Wells notice, warning the exchange that it identified potential violations of U.S. securities law.
Nikhilesh De / CoinDesk:
The US SEC sues Tron founder Justin Sun and his companies for the alleged “unregistered offer and sale of crypto asset securities” TRX and BTT, fraud, and more  —  The SEC alleged TRX, BTT are unregistered securities, and claimed Sun created an “extensive wash trading” program to boost their trading volume.
Reuters:
Block drops 10%+ after Hindenburg Research discloses a short position and alleges the company overstated user counts and understated customer acquisition costs  —  Hindenburg Research said on Thursday it held short positions in Block Inc (SQ.N), alleging that the Jack Dorsey-led payments firm overstated …
Bloomberg:
Sources: Apple plans to spend $1B/year to produce movies for large-scale theatrical release, a big increase from years past, seeking to grow awareness of TV+  —  Apple Inc. plans to spend $1 billion a year to produce movies that will be released in theaters, according to people familiar …
Giles Turner / Bloomberg:
Sources: Apple considers bidding for the streaming rights to a range of English soccer games, including showing Premier League games in the UK, following Amazon  —  Apple Inc. is considering bidding for the streaming rights to a range of English football games, according to people familiar …
Adi Robertson / The Verge:
The FTC proposes a ban on difficult-to-cancel subscriptions, with new “click to cancel” rules requiring companies to make canceling as simple as subscribing  —  The US Federal Trade Commission is proposing a formal ban on subscriptions that are simple to start but difficult to stop.
CoinDesk:
Montenegro's Interior Minister says Terraform Labs co-founder Do Kwon has been arrested at the Podgorica airport with falsified documents  —  The announcement was made by the minister of interior Filip Adzic.  —  Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Tom Warren / The Verge:
YouTube channel Linus Tech Tips was hacked on Thursday and started posting videos for crypto scams, the latest in a series of crypto scam breaches on YouTube  —  Popular YouTube channel Linus Tech Tips has been hacked this morning, with the channel's 15.3 million subscribers seeing videos …
Meta:
WhatsApp announces an updated Windows app, which loads faster and enables group video calls with up to eight people and audio calls with up to 32 people  —  Today, we're introducing a new WhatsApp app for Windows that loads faster and is built with an interface similar to the mobile version of the app.
Akash Sriram / Reuters:
Sam Altman says OpenAI has fixed a “significant issue” in ChatGPT after a bug in an open-source library let some users see titles of other users' chat history  —  ChatGPT-owner OpenAI said on Wednesday it had fixed a bug that caused a “significant issue” of a small set of users …

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