Tag: Issues

Google Suspends China’s Pinduoduo App from Play Store Citing Malware Issues

The Pinduoduo app serves more than 700 million people every month. Google has no word on when it will get the app back on the Play Store. On Tuesday, March 21, tech giant Google announced the suspension of the Chinese e-commerce app Pinduoduo citing that they discovered malware in the unsanctioned versions of the software. Google Suspends Pinduoduo App As a security precaution, the Play Store version of Pinduoduo is no longer available for download. This development comes at a time when American lawmakers have accused Chinese-owned apps such as…

SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report

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Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed. According to a March 18 Sky News report citing unnamed sources, the payouts to SVB UK staff and senior executives were signed off “earlier this week” by HSBC UK Bank – the institution which acquired SVB UK for 1 British pound ($1.22 USD) on March 13. It was reportedly “unclear” how much had been awarded to SVB…

Lightning Labs’ Taro Project Faces Halt as Judge Issues Temporary Injunction for Trademark Infringement

“I was having dinner with a developer friend and he mentioned ‘taro,’” said Lightning Labs CEO and co-founder Elizabeth Stark in a declaration in the case. “I knew that taro is a common ingredient used in Latin American, Southeast Asian,and African cuisines, which were three key regions for the growth of this technology – so, I responded, ‘Wait, that’s a really cool name!’” Source FacesHaltInfringementInjunctionIssuesJudgeLabsLightningProjectTaroTemporaryTrademark CryptoX Portal

ICO issues reprimand to the Metropolitan Police Service for inadequate handling of files related to organised crime groups

The Information Commissioner’s Office (ICO) has issued a reprimand to the Metropolitan Police Service (MPS) following several issues identified around their uploading, amending and deleting of various criminal intelligence files relating to Organised Crime Groups (OCG). The breach is reported to have happened between April-July 2020. It was first identified that a coding issue had occurred on the Police National Database (PND), resulting in a small set of test data being inadvertently introduced to the live system. This caused some files being rejected, an issue that went unnoticed by the…

Blockchain is the answer to Russia’s settlement issues, banking exec says

The adoption of blockchain is the right direction for Russia to solve its current settlement issues, according to an executive at Russia’s largest bank, Sberbank. Blockchain technology has matured over the past few years to offer new capabilities that potentially enable Russia to create more efficient payment systems, Sberbank’s first deputy chairman Alexander Vedyakhin said. On March 14, Vedyakhin took part in the meeting of Russia’s Federation Council on the budget and financial markets committee, highlighting the promising future of blockchain in Russia, the local news agency Interfax reported. According…

Breaking: Shanghai upgrade executed on testnet but not without issues

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Ethereum validators are now one step away from being able to unstake their Ether from the Beacon Chain The Shapella hard fork has been executed on the Goerli testnet — the last test run before Ethereum validators will be able to withdraw their Ether (ETH) from the Beacon Chain. There were however issues with the hard fork. Ethereum core developer Tim Beiko noted that while deposits were being processed it didn’t run as smoothly as it could have because several testnet validators didn’t upgrade their client software before the Goerli…

GTLB Stock Drops Over 30% as GitLab Issues Misses Forecast Revenue

The GTLB stock came under severe selling pressure in the aftermarket hours on Monday since the projected revenue stood less than the estimates. On Monday, March 13, GitLab Inc (NASDAQ: GTLB) stock plunged by more than 31% in the extended trading session after the software company gave full-year revenue guidance falling short of expectations. The company’s revenue stood at $122.9 million against the expected $119.6 million. It also managed to narrow its losses at 3 cents per share, adjusted, vs. the expected loss of 14 cents per share. As per…

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’ – Bitcoin News

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On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm will “stand behind USDC and cover any shortfall using corporate resources, involving external capital if necessary.” Circle Financial Confident in USDC Stability Despite SVB Failure Circle, the issuer of the second-largest stablecoin by market capitalization, usd coin (USDC), addressed the…

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident – Bitcoin News

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On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes Changes to Limit Exposure to Potentially Impaired Stablecoins Members of Makerdao have been discussing a recent emergency proposal that aims to address the $3.1 billion in USDC assets the project holds as collateral. The news comes as Circle Financial…

Bitcoin Miner Hut 8 Talks Operational Issues and USBTC Merger in Earnings Call

In mid-November 2022, Hut 8 stopped mining with 7,000 rigs at a site in North Bay, Ontario due to an ongoing dispute with its energy provider, Validus Power. Hut 8 has now removed all machines from the facility to a site in Medicine Hat, Alberta. Pressed about progress by analysts on the company’s earnings call Thursday morning, Hut 8 CEO Jaime Leverton said the firm is assessing opportunities to energize the miners but didn’t give any concrete alternatives. Source