Tech Brew Ride Home Thu. 06/08 – The Gloves Come Off In The Binance Case
Jun 8, 2023
Tensions rise in the Binance case with accusations flying against SEC Chair Gensler. Twitch reverses new ad policies after backlash from creators concerned about revenue. WhatsApp launches Channels, merging messaging with social media flair. Amazon eyes an ad-supported Prime Video tier, shaking up the streaming model. Adobe rolls out generative AI tools, offering legal protection for copyright breaches. Plus, Google’s advancements in AI hint at the future of coding and tech, echoing Moore’s Law.
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Gensler's Prior Relationship with Binance
- Binance's lawyers allege SEC Chair Gary Gensler offered to advise Binance in 2019.
- Gensler, then an MIT professor, later became SEC Chair and pursued legal action against Binance.
Misuse of Customer Funds
- The SEC accuses Binance and Binance.us of redirecting over $12 billion in customer assets.
- These funds allegedly went to entities controlled by Binance founder Changpeng Zhao.
Twitch Ad Policy Reversal
- Twitch reversed new ad guidelines after strong creator backlash.
- The guidelines, which restricted ad formats, were seen as harmful to streamers' income.