June 29, 2024, 7:55 PM

Top News

Paul Kiernan / Wall Street Journal:
The US finalizes rules requiring custodial crypto platforms to report user transaction info to the IRS; DeFi platforms are exempt amid fierce crypto lobbying  —  Treasury finalizes rules to deter crypto tax evasion—but softens them after industry lobbying push
Janko Roettgers / The Verge:
Redbox's owner, Chicken Soup for the Soul Entertainment, files for bankruptcy protection; Chicken Soup took on $325M in debt when it acquired Redbox in 2022  —  Redbox's owner, Chicken Soup for the Soul Entertainment, filed for bankruptcy protection overnight.
The Information:
Source: Amazon plans to use a controversial trade rule used by Temu and Shein, which exempts packages worth $800 or less from tariffs, for its discount section  —  Amazon is planning to use the same controversial trade rule as Temu and Shein to import items sold on its upcoming discount …
Filings and DOJ officials describe how a gang threatened, assaulted, and tortured 11 victims in likely the worst crypto-focused serial extortion case in the US  —  More than a dozen men threatened, assaulted, tortured, or kidnapped 11 victims in likely the worst-ever crypto-focused serial extortion case of its kind in the US.
Nikhilesh De / CoinDesk:
A US judge rules that SEC charges against Binance, Binance.US, and CZ for violating federal securities laws can proceed, but dismisses secondary sales charges  —  A federal judge ruled the SEC had plausibly alleged Binance, Binance.US and Changpeng Zhao violated federal securities laws.
Dallin Grimm / Tom's Hardware:
Hugging Face unveils Open LLM Leaderboard v2 that tests models across six benchmarks; Chinese models dominate the top 10 with Alibaba's Qwen taking the top spot  —  Optimizing LLMs to be good at specific tests backfires on Meta, Stability.  —  Hugging Face has released its second LLM leaderboard …
Emanuel Maiberg / 404 Media:
A look at the disastrous launch of Stable Diffusion 3, which struggles to generate correct human anatomy, and concerns over the tool's new and different license  —  Stability AI botched the launch of its latest model, proving the Stable Diffusion community doesn't need the company that brought it to the world.
Jake Bleiberg / Bloomberg:
Source: Microsoft told over a dozen Texas agencies and public universities that their emails were exposed in the Russian hack of Microsoft, disclosed in January  —  - Company initially disclosed the cyberattack in January  — Some agencies say exposed emails related to routine matters
The Verge:
A look at the possible impact of SCOTUS overturning Chevron deference and curbing federal agencies' power on net neutrality, Big Tech regulation, and more  —  Since the New Deal era, the bulk of the functioning US government is the administrative state — think the acronym soup of agencies like the EPA, FCC, FTC, FDA, and so on.
Chandra Asmara / Bloomberg:
Indonesia's government declines to pay the $8M demanded by LockBit 3.0 for the ransomware attack that affected hundreds of ministries and public institutions  —  - The recovery will only be completed in mid-August: minister  —  Indonesia's parliament called the government to task …
Evgeny Morozov / Financial Times:
How Avery Johnson and Warren Brodey, early members of the American Society for Cybernetics, created a lab in 1967 with a utopian vision to personalize computing  —  In the late 1960s, a secret US lab was dedicated to mapping the edges of computing  —  At around 3pm on October 24 1968 …

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