Plus: Biggest crypto theft of all time?
Friday, February 21, 2025 | | | Welcome to TC PM! Today we have the latest update in the data privacy and encryption battle between Apple and the U.K. government; we learn more about Meta's expansion into India; and we've got the details on a cool, new biotech startup. Have a great weekend! | | | Image Credits: Bryce Durbin / TechCrunch | 📵 Less secure: Apple confirmed today that it will no longer offer its U.K. users the ability to encrypt their iCloud data. This news comes just a few weeks after the U.K. government asked Apple to build a "backdoor" that would give the company access to anyone's iCloud data regardless of encryption. Read more 💸 Speaking of security: Crypto exchange Bybit announced that hackers stole 401,346 ETH (Ethereum), the equivalent of about $1.4 billion, from one of the company's offline wallets. This may be the largest known crypto theft in history. Read more 🖥️ Premium lite: YouTube is reportedly gearing up to announce a "premium lite" version of its subscription. This subscription would give users access to YouTube's library of podcast and how-to videos without ads. Read more | | | Image Credits: Akio Kon/Bloomberg / Getty Images | | | 📉 It's the opposite: Nvidia's Jensen Huang thinks the market's reaction to the release of DeepSeek's open source R1 model, which resulted in Nvidia's stock price plummeting, was misguided and called the AI development "incredibly exciting." Read more 🎙️ Humans on Humane: On today's episode of Equity, the hosts discuss the final days of AI hardware startup Humane and what happens now that it's been partially acquired by HP. They also dive into TechCrunch's DOGE directory, Uber's lawsuit against DoorDash, and more. Listen here 🧑⚖️ Trial time: Opening arguments began today in the criminal trial against fintech founder Charlie Javice. JPMorgan Chase originally filed its lawsuit against Javice, the founder of Frank, back in 2022 when it alleged she faked millions of Frank customers to influence the bank into buying the startup. Read more 🇮🇳 India expansion: Meta announced it was cutting 5% of its workforce last month but that doesn't mean the company isn't expanding. Meta is currently working to set up a new site in Bengaluru, India's tech hub, and is looking to hire for more than 40 roles. Read more ❌ Oops!: Earlier this week, Sakana AI made a claim that its AI system, the AI CUDA Engineer, could speed up the training of certain models by 100x. Users quickly discovered that this revelation wasn't true and now the company is walking back its claim. Read more 🧬 Biotech funds: CircNova is a biotech startup that uses AI to target circular RNA, or a single-stranded RNA molecule that forms a closed circle, to find therapies for conditions that don't currently have treatments. The company just raised a $3.3 million seed round. Read more | | | 👀 Tracking terminology: The U.S. Department of Health and Human Services has its employees scanning their websites and documents for terms like "gay," "non-binary," and "sexuality," among others, so they could be removed if needed to comply with future executive orders from President Donald Trump. Bleak. Read more 🏫 AI class is in session: After DeepSeek grabbed the spotlight for its open source R1 model, universities across China have started launching AI classes based on DeepSeek to capitalize on the AI boom. Read more | | | Image Credits: Kativ / Getty Images | 🤑 Fintech bulls: Fintech startups appear to be back in the limelight after the category fell out of favor for a few years. We've got a look at five VC firms that are actively bullish on the sector, with details on where and how they invest. Read more | | | Featured jobs from CrunchBoard | | | Has this been forwarded to you? Click here to subscribe to this newsletter. | | | Update your preferences here at any time | | Copyright © 2024 TechCrunch, All rights reserved.Yahoo Inc. 110 5th St,San Francisco,CA | | | | |
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