.png){kind=logo}
Good morning Tech Fam, here's a quick tech update for you to catch on:
What's new today: US senator wants Google, and Apple to provide digital asset scam data; Tesla CEO Elon Musk has officially intensified the battle between him and Twitter.
Fast-Trach Insights: US tech bill to create blockchain advisor role for Biden administration; Bitcoin, Ethereum lose ground; Polkadot skids after near six-week run-up; US senator wants Google, Apple to provide digital asset scams data.
The Securities and Exchange Commission on Monday brought charges against 11 individuals for allegedly bilking investors out of more than US$300 million in a crypto pyramid and Ponzi scheme. Regulators allege the scheme started in at least January 2020. The move comes as cryptocurrency has become more popular with everyday investors, increasing the potential for fraud schemes.
Major cryptocurrencies were lower in early Tuesday trading in Asia, with Ethereum losing 3% in the past 24 hours to trade at US$1,634 as of 8 a.m. in Hong Kong. Bitcoin dipped 0.2% to trade at US$23,267, according to data on CoinMarketCap.
Tesla CEO Elon Musk has officially intensified the battle between him and Twitter by countersuing the microblogging platform on Friday, July 29. The lawsuit, as per a report, was filed confidentially and in response to the social media company's legal complaint filed against Elon Musk for walking away from the US$44 billion Twitter deal.
Blockchain enthusiasts are buzzing over a new piece of legislation that will create the role of a blockchain advisor to the U.S. government. All that is left is the signature from President Joe Biden, with commentators predicting that the next stage will be a mere formality. At its core, the bill aims to subsidize the manufacture of chips and semiconductors in the United States.
Senator Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, is pressing the two leading mobile phone application store operators Apple and Google for details on how they protect users from fraudulent digital assets apps.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
