Google and TikTok are once again the focus of accusations from the European Union, which is now imposing multimillion-euro fines for various reasons.

In Google’s case, the fine is €890 million for allegedly violating the region’s Digital Markets Act by favoring its own services and blocking those of its competitors. According to the EU, this must cease within 60 days, under threat of further sanctions.

TikTok, for its part, allegedly violated the Digital Services Act by failing to guarantee secure accounts for minors, who, according to Brussels, can set their accounts to public, leaving their comments open to anyone. The fine is up to 6 % of its global annual revenue.

Both companies have received warnings from the European Commission, with specific guidelines to implement immediately, under penalty of further fines for non-compliance.

M.Pino

With information from international media and social networks

(Reference image source: ALEXANDRE LALLEMAND on Unsplash)

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Former Brazilian President Jair Bolsonaro was sentenced this Monday, August 4, to house arrest following the ruling by the country’s Supreme Court on accusations of plotting a coup after losing the 2022 elections.

 

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Una publicación compartida por W Radio Colombia (@wradioco)

The judge in charge of the investigations against the former president, Alexandre de Moraes, “affirmed that the decision to arrest him is due to the former president’s failure to comply with the precautionary measures imposed on him last month, including refraining from posting on social media.”

The jurist also prohibited Bolsonaro from receiving visitors, except from lawyers or individuals authorized by the Supreme Court, as well as from using cell phones directly or through third parties. This restriction also applies to visitors, who will not be allowed to take videos or photos.

The measure has sparked criticism not only from the former president’s family, but also from US President Donald Trump, who has questioned the judicial process from its inception.

M.Pino

Source: BBC

(Reference image source: Sasun Bughdaryan on Unsplash)

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Cryptocurrency platform FTX, which collapsed last year, is in the process of reopening under new management, The Wall Street Journal (WSJ) reported Wednesday.

FTX CEO John J. Ray III confirmed to the WSJ that the company has begun discussions with various stakeholders to explore the possibility of reopening FTX.com. Ray took over as CEO last November after the company filed for bankruptcy.

Anonymous sources quoted by the WSJ revealed that FTX has been in contact with investors to establish a partnership that allows the resumption of operations of the platform, although it is likely that this will be done under a new brand.

At the time of its collapse, FTX was one of the leading cryptocurrency platforms globally, and the current management considers its business model to be viable, attributing the problems to the alleged criminal conduct of the former perpetrators.

The cryptocurrency platform’s crash occurred quickly last November after many users began withdrawing their funds due to reports questioning the company’s solvency.

Following the collapse, US authorities charged FTX founder Sam Bankman-Fried and other officials at FTX and Alameda Research, its investment arm, with engaging in massive fraud in the management of the business. This made Bankman-Fried a billionaire and one of the most influential figures in the world of cryptocurrencies.

The administrators who took over the company after the bankruptcy revealed that Bankman-Fried left a deficit of approximately $9 billion. They have been working to remedy this situation by selling assets and recovering funds through donations and investments made with client money.

Bankman-Fried is currently awaiting trial, facing multiple fraud charges. His most recent attempt to dismiss some of the allegations was rejected last Tuesday.

So far, three of his ex-partners have admitted their guilt before the Prosecutor’s Office and have shown themselves willing to cooperate with the investigations.

K. Tovar

Source: Descifrado

(Reference image source: Jonathan Borba, Unsplash)

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La entrada FTX seeks to reopen after scandal and fraud allegations apareció primero en Bitfinance.

The cryptocurrency exchange Binance claimed not to have manipulated the market, after having received strong accusations about this and about going against the interests of users.

The company assured through its social networks that it could take legal action against these alleged defamation.

“Binance has never operated against our users or manipulated the market, and we never will,” the exchange said.

This whole issue arised after a user on Twitter under the name “RealFullTimeApe” indicated that the exchange “maintains an overview of the large levels of liquidity and raises / lowers the price on purpose to take them out and thus take advantage of it.”

Binance Holdings Limited has been repeatedly warned by authorities in various countries, including Italy, Malaysia, Poland, Germany, the United Kingdom, the Cayman Islands, Thailand, Canada, Japan, Singapore, and the Netherlands, to investors beware of the company, or to say that it is operating illegally.

K. Tovar

Source: Cointelegraph

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