The European Union imposed a €2.9 billion fine on the US technology company. The charges against Google include violating regional competition rules and favoring its own digital advertising services.

“The European Commission also ordered it to take measures to curb the conflict of interest,” after postponing the decision for a week.

The fine, which amounts to approximately 3.5 billion dollars, was imposed on the grounds that the US company “abused its dominant position in the online advertising sector.” This sanction, known as Adtech, which Google immediately announced it would challenge, was highly anticipated. The European Commission had threatened in 2023 to require the spin-off of part of the group’s activities in this area, something it ultimately has not decided on for the time being.

The ruling was criticized by US President Donald Trump on his social media platform Truth Social, where he stated that “if the EU does not reverse the ‘unfair’ fines, it will be ‘forced’ to activate a punitive mechanism of customs duties, Section 301.”

On Friday, September 5, the Commission demanded that Google end the behavior that allows it to favor its own advertising technology services and take “measures to eradicate its inherent conflicts of interest throughout the supply chain.”

M.Pino

Source: DW

(Reference image source: Adarsh Chauhan on Unsplash)

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Sam Bankman-Fried, former CEO of FTX, returned to court for one of the first times since his conviction. The reason for this appearance was to discuss possible conflicts of interest with their lawyers.

According to a February 21 report by the Inner City Press, Bankman-Fried waived his right to legal representation without conflict of interest with lawyers Marc Mukasey and Torrey Young. These two attorneys also represent former Celsius CEO Alex Mashinsky, who took a similar action at a February 20 hearing.

The appearance before the United States District Court for the Southern District of New York marked one of the first times Bankman-Fried had been seen outside of prison since a jury convicted him on seven felony counts in November 2023. Although SBF’s life behind bars has been largely out of the media spotlight, photos were posted on February 19 showing the former FTX CEO with other inmates.

According to the Inner City Press, Mukasey and Young will continue to represent SBF and Mashinsky. In contrast, attorneys Christian Everdell and Mark Cohen, who represented Bankman-Fried in his criminal trial in October 2023, will retire. Bankman-Fried’s sentencing is scheduled for March 28 before Judge Lewis Kaplan.

Bankman-Fried, once regarded by many as the ‘golden child of the crypto space’, resigned as CEO of FTX in November 2022. The firm filed for bankruptcy, and SBF was detained in the Bahamas pending extradition to the U.S., where he was later charged and convicted of fraud related to the handling of funds between FTX and Alameda Research.

After his trial in October 2023, SBF was initially expected to face five additional felony charges in March. However, reports in December suggested that prosecutors did not plan to proceed with the second trial, citing public interest.

K. Tovar

Source: ABCNews

(Reference image source: @WavemStudios, X)

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La entrada Sam Bankman-Fried is back on the jury. apareció primero en Bitfinance.