An anonymous reader shares a report: Europe must invest in its own open source artificial intelligence labs and address soaring energy prices, or it will quickly find itself dependent on Chinese models, former Google chief executive and tech investor Eric Schmidt said.

"In the US, the companies are largely moving to closed source, which means they'll be purchased and licensed and so forth. And it is also the case that China is largely open weight, open source in its approach," Schmidt said at the World Economic Forum in Davos, Switzerland, on Tuesday. "Unless Europe is willing to spend lots of money for European models, Europe will end up using the Chinese models. It's probably not a good outcome for Europe."

Reddit's content became AI training data last year when Google signed a $60 million-per-year licensing agreement. But now Reddit is "in early talks" about a new deal seeking "deeper integration with Google's AI products," reports Bloomberg (citing executives familiar with the discussions).

And Reddit also wants "a deal structure that could allow for dynamic pricing, where the social platform can be paid more" — with both Google and OpenAI — to "adequately reflect how valuable their data has been to these platforms..." Such licensing agreements are becoming more common as AI companies seek legal ways to train their models. OpenAI has also struck a series of partnership agreements with major media publishers such as Axel Springer SE, Time and Conde Nast to use their content in ChatGPT...

Reddit remains among the most cited sources across AI platforms, according to analytics company Profound AI. However, Reddit executives have noticed that traffic coming from Google has limited value, as users seeking answers to a specific question often don't convert into becoming active Redditors, the people said. Now, Reddit is engaging with product teams at Google in hopes of finding ways to send more of its users deeper into its ecosystem of community forums, according to the executives. In return, Reddit is looking for ways to provide more high-quality data to its AI partners. Discussions between Reddit and Google have been productive, the people said. "We're midflight in our data licensing deals and still learning, but what we have seen is that Reddit data is highly cited and valued," Reddit Chief Operating Officer Jen Wong said on July 31 during a call with investors. "We'll continue to evaluate as we go."

"Commodore has returned from a parallel timeline where tech stayed optimistic, inviting, and human," explains the official web site for "the first real Commodore computer in over 30 years..." You can check out an ad for it here. "Not an emulator. Not a PC... Powered by a FPGA recreation of the original motherboard, wrapped in glowing game-reactive LEDs (or classic beige of course)."

Fast Company calls it "a $299 device that its makers claim is compatible with over 10,000 retro games, cartridges, and peripherals." In a YouTube video posted last month, "Peri Fractic" said he'd purchased the company for "a low seven-figure sum," and said he'd recruited several former Commodore employees to help relaunch the brand. The new C64s are expected to begin shipping as early as October, though that date could slip... There are three models to choose from, all with the same internal components. If you were expecting a vastly outdated machine, however, you're in for a surprise. The Commodore 64 Ultimate will include 128 megabytes of RAM and 16 megabytes of flash memory. It connects to modern monitors via HDMI in high-definition 1080p resolution and features three USB-A ports and one USB-C port. Beyond the computer itself, the power source, and HDMI cable, your $299 also gets you a spiral-bound user guide, a 64-gigabyte USB drive featuring over 50 licensed games, a quick-start guide, and stickers.

Aesthetically, the Commodore 64 Ultimate is available in the original beige or in premium variants: the Starlight Edition, with a clear case and LED lights ($249), or the Founder's Edition, which includes 24-karat gold-plated badges, satin gold keys, and a translucent amber case ($499). Just 6,400 units of the Founder's Edition will be produced, according to the company. The preorder setup resembles a Kickstarter campaign, though it doesn't use that platform. Commodore says all preorders come with a money-back guarantee, but it chose to skip the service's fees. Buyers should be aware that accounts are charged at the time of preorder...

The product will come with a one-year limited warranty, and Commodore says most parts are already in production, including the updated motherboard, the case, and the keycaps that recreate the blocky keys that early users remember.

An anonymous reader quotes a report from The Register: UK universities and colleges have signed a framework worth up to 9.86 million pounds ($13.33 million) with Oracle to use its controversial Java SE Universal Subscription model, in exchange for a "waiver of historic fees due for any institutions who have used Oracle Java since 2023." Jisc, a membership organization that runs procurement for higher and further education establishments in the UK, said it had signed an agreement to purchase the new subscription licenses after consultation with members. In a procurement notice, it said institutions that use Oracle Java SE are required to purchase subscriptions. "The agreement includes the waiver of historic fees due for any institutions who have used Oracle Java since 2023," the notice said.

The Java SE Universal Subscription was introduced in January 2023 to an outcry from licensing experts and analysts. It moved licensing of Java from a per-user basis to a per-employee basis. At the time, Oracle said it was "a simple, low-cost monthly subscription that includes Java SE Licensing and Support for use on Desktops, Servers or Cloud deployments." However, licensing advisors said early calculations to help some clients showed that the revamp might increase costs by up to ten times. Later, analysis from Gartner found the per-employee subscription model to be two to five times more expensive than the legacy model.

"For large organizations, we expect the increase to be two to five times, depending on the number of employees an organization has," Nitish Tyagi, principal Gartner analyst, said in July 2024. "Please remember, Oracle defines employees as part-time, full-time, temporary, agents, contractors, as in whosoever supports internal business operations has to be licensed as per the new Java Universal SE Subscription model." Since the introduction of the new Oracle Java licensing model, user organizations have been strongly advised to move off Oracle Java and find open source alternatives for their software development and runtime environments. A survey of Oracle users found that only one in ten was likely to continue to stay with Oracle Java, in part as a result of the licensing changes.

An anonymous reader shared this report from The New York Times: Russian counterintelligence agents are analyzing data from the popular Chinese messaging and social media app WeChat to monitor people who might be in contact with Chinese spies, according to a Russian intelligence document obtained by The New York Times. The disclosure highlights the rising level of concern about Chinese influence in Russia as the two countries deepen their relationship. As Russia has become isolated from the West over its war in Ukraine, it has become increasingly reliant on Chinese money, companies and technology. But it has also faced what the document describes as increased Chinese espionage efforts.

The document indicates that the Russian domestic security agency, known as the F.S.B., pulls purloined data into an analytical tool known as "Skopishche" (a Russian word for a mob of people). Information from WeChat is among the data being analyzed, according to the document... One Western intelligence agency told The Times that the information in the document was consistent with what it knew about "Russian penetration of Chinese communications...." By design, [WeChat] does not use end-to-end encryption to protect user data. That is because the Chinese government exercises strict control over the app and relies on its weak security to monitor and censor speech. Foreign intelligence agencies can exploit that weakness, too...

WeChat was briefly banned in Russia in 2017, but access was restored after Tencent took steps to comply with laws requiring foreign digital platforms above a certain size to register as "organizers of information dissemination." The Times confirmed that WeChat is currently licensed by the government to operate in Russia. That license would require Tencent to store user data on Russian servers and to provide access to security agencies upon request.

Circle Internet Group surged 168% in its NYSE debut, raising nearly $1.1 billion after pricing its IPO at $31 and opening at $69. "At one point, shares traded as high as $103.75," notes CNBC. From the report: The New York-based company priced its IPO late Wednesday far above this week's expected range of $27 to $28, and an initial range last week of between $24 and $26, valuing the company at some $6.8 billion before trading began. Trading volume by the end of the session was about 46 million, far exceeding the number of freely floating shares available for trading.

Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S. This marks the company's second attempt at going public. A prior merger with a special purpose acquisition company collapsed in late 2022 amid regulatory challenges. "To realize our vision, we needed to forge relationships with governments, we needed to work with policymakers ... because if you want this to work for mainstream, it's got to work in mainstream society and you need to have those rules of the road," CEO Jeremy Allaire told CNBC's "Money Movers" on Thursday. "We've been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that's served us well."

Some actors who sold their likenesses to AI video companies like Synthesia now regret the decision, after finding their digital avatars used in misleading, embarrassing, or politically charged content. Ars Technica reports: Among them is a 29-year-old New York-based actor, Adam Coy, who licensed rights to his face and voice to a company called MCM for one year for $1,000 without thinking, "am I crossing a line by doing this?" His partner's mother later found videos where he appeared as a doomsayer predicting disasters, he told the AFP. South Korean actor Simon Lee's AI likeness was similarly used to spook naive Internet users but in a potentially more harmful way. He told the AFP that he was "stunned" to find his AI avatar promoting "questionable health cures on TikTok and Instagram," feeling ashamed to have his face linked to obvious scams. [...]

Even a company publicly committed to ethically developing AI avatars and preventing their use in harmful content like Synthesia can't guarantee that its content moderation will catch everything. A British actor, Connor Yeates, told the AFP that his video was "used to promote Ibrahim Traore, the president of Burkina Faso who took power in a coup in 2022" in violation of Synthesia's terms. [...] Yeates was paid about $5,000 for a three-year contract with Synthesia that he signed simply because he doesn't "have rich parents and needed the money." But he likely couldn't have foreseen his face being used for propaganda, as even Synthesia didn't anticipate that outcome.

Others may not like their AI avatar videos but consider the financial reward high enough to make up for the sting. Coy confirmed that money motivated his decision, and while he found it "surreal" to be depicted as a con artist selling a dystopian future, that didn't stop him from concluding that "it's decent money for little work." Potentially improving the climate for actors, Synthesia is forming a talent program that it claims will give actors a voice in decision-making about AI avatars. "By involving actors in decision-making processes, we aim to create a culture of mutual respect and continuous improvement," Synthesia's blog said.

A volunteer group called WikiPortraits is working to address Wikipedia's issue of featuring outdated and unflattering portraits by providing high-quality, openly licensed images. Since 2024, they have covered global festivals, taken thousands of images, and improved representation of underrepresented individuals, though challenges with funding and media credentials remain. 404 Media reports: This portrait problem stems from Wikipedia's mission to provide free reliable information. All media on the site must be openly licensed, so that anyone can use it free of charge. That, in turn, means that most photos of notable people on the site are of notably poor quality. "No professional photographers ever have their photos on Wikipedia, because they want to make money from the photos," said Jay Dixit, a writing professor and amateur Wikipedia photographer. "It's actually the norm that most celebrities have poor photos on Wikipedia, if they have photos at all. It's just some civilian at an airport being like, 'Oh my god, it's Pete Davidson,' click with an iPhone."

Dixit is part of a team of volunteer photographers, called WikiPortraits, that's trying to fix that problem. "It's been in the back of our minds for quite a while now," said Kevin Payravi, one of WikiPortraits' cofounders. "Last year, finally, we decided to make this a reality, and we got a couple of credentials for Sundance 2024 [a major film festival]. We sent a couple photographers there, we set up a portrait studio, and that was our first organized effort here in the U.S. to take good quality photos of people for Wikipedia."

Since last January, WikiPortraits photographers have covered around 10 global festivals and award ceremonies, and taken nearly 5,000 freely-licensed photos of celebrity attendees. And the celebrity attendees are often quite excited about it. [...] WikiPortraits photos are currently used on Wikipedia articles in over 120 languages, and they're viewed up to 80 million times per month from those pages alone. In January, for example, Payravi said that over 1,500 WikiPortraits photos were used on articles that collectively received 140 million views. Many WikiPortraits photos have also been used by a variety of news outlets around the world, including CNN Brasil, Times of Israel, and multiple non-English-language smaller news organizations. "[N]ot being an official news or photo agency means WikiPortraits sometimes faces problems getting media credentials to cover events," notes 404 Media. "Funding poses another main challenge."

"Photographers must already own a professional-quality camera, and usually have to cover the cost of getting to events and at least part of their lodging. Although WikiPortraits sometimes receives rapid grants from the Wikimedia Foundation and private donors to cover costs, Payravi said he still likes to run a 'tight ship.'"

A surge in new oil and gas production in 2024 threatens to unleash nearly 12 billion tonnes of planet-heating emissions, with the world's wealthiest countries -- such as the US and the UK -- leading a stampede of fossil fuel expansion in spite of their climate commitments, new data reveals. From a report: The new oil and gas field licences forecast to be awarded across the world this year are on track to generate the highest level of emissions since those issued in 2018, as heatwaves, wildfires, drought and floods cause death and destruction globally, according to analysis of industry data by the International Institute for Sustainable Development (IISD). The 11.9bn tonnes of greenhouse gas emissions -- which is roughly the same as China's annual carbon pollution -- resulting over their lifetime from all current and upcoming oil and gas fields forecast to be licensed by the end of 2024 would be greater than the past four years combined. The projection includes licences awarded as of June 2024, as well as the oil and gas blocks open for bidding, under evaluation or planned.

Meanwhile, fossil fuel firms are ploughing more money into developing new oil and gas sites than at any time since the 2015 Paris climate deal, when the world's governments agreed to take steps to cut emissions and curb global heating. The world's wealthiest countries are economically best placed -- and obliged under the Paris accords -- to lead the transition away from fossil fuels to cleaner energy sources. But these high-capacity countries with a low economic dependence on fossil fuels are spearheading the latest drilling frenzy despite dwindling easy-to-reach reserves, handing out 825 new licences in 2023, the largest number since records began.

theodp writes: Back in May 2021, tech-backed nonprofit Code.org touted the signing of a licensing agreement with WhiteHat Jr., allowing the edtech company with a controversial past (Whitehat Jr. was bought for $300M in 2020 by Byju's, an edtech firm that received a $50M investment from Mark Zuckerberg's venture firm) to integrate Code.org's free-to-educators-and-organizations content and tools into their online tutoring service. Code.org did not reveal what it was charging Byju's to use its "free curriculum and open source technology" for commercial purposes, but Code.org's 2021 IRS 990 filing reported $1M in royalties from an unspecified source after earlier years reported $0. Coincidentally, Whitehat Jr. is represented by Aaron Kornblum, who once worked at Microsoft for now-President Brad Smith, who left Code.org's Board just before the lawsuit was filed.

Fast forward to 2023 and the bloom is off the rose, as Court records show that Code.org earlier this month sued Whitehat Education Technology, LLC (Exhibits A and B) in what is called "a civil action for breach of contract arising from Whitehat's failure to pay Code.org the agreed-upon charges for its use of Code.org's platform and licensed content and its ongoing, unauthorized use of that platform and content." According to the filing, "Whitehat agreed [in April 2022] to pay to Code.org licensing fees totaling $4,000,000 pursuant to a four-year schedule" and "made its first four scheduled payments, totaling $1,000,000," but "about a year after the Agreement was signed, Whitehat informed Code.org that it would be unable to make the remaining scheduled license payments." While the original agreement was amended to backload Whitehat's license fee payment obligations, "Whitehat has not paid anything at all beyond the $1,000,000 that it paid pursuant to the 2022 invoices before the Agreement was amended" and "has continued to access Code.org's platform and content."

That Byju's Whitehat Jr. stiffed Code.org is hardly shocking. In June 2023, Reuters reported that Byju's auditor Deloitte cut ties with the troubled Indian Edtech startup that was once an investor darling and valued at $22 billion, adding that a Byju's Board member representing the Chan-Zuckerberg Initiative had resigned with two other Board members. The BBC reported in July that Byju's was guilty of overexpanding during the pandemic (not unlike Zuck's Facebook). Ironically, the lawsuit Exhibits include screenshots showing Mark Zuckerberg teaching Code.org lessons. Zuckerberg and Facebook were once among the biggest backers of Code.org, although it's unclear whether that relationship soured after court documents were released that revealed Code.org's co-founders talking smack about Zuck and Facebook's business practices to lawyers for Six4Three, which was suing Facebook.

Code.org's curriculum is also used by the Amazon Future Engineer (AFE) initiative, but it is unclear what royalties -- if any -- Amazon pays to Code.org for the use of Code.org curriculum. While the AFE site boldly says, "we provide free computer science curriculum," the AFE fine print further explains that "our partners at Code.org and ProjectSTEM offer a wide array of introductory and advance curriculum options and teacher training." It's unclear what kind of organization Amazon's AFE ("Computer Science Learning Childhood to Career") exactly is -- an IRS Tax Exempt Organization Search failed to find any hits for "Amazon Future Engineer" -- making it hard to guess whether Code.org might consider AFE's use of Code.org software 'commercial use.' Would providing a California school district with free K-12 CS curriculum that Amazon boasts of cultivating into its "vocal champion" count as "commercial use"? How about providing free K-12 CS curriculum to children who live where Amazon is seeking incentives? Or if Amazon CEO Jeff Bezos testifies Amazon "funds computer science coursework" for schools as he attempts to counter a Congressional antitrust inquiry? These seem to be some of the kinds of distinctions Richard Stallman anticipated more than a decade ago as he argued against a restriction against commercial use of otherwise free software.

Nigeria's central bank has lifted a ban on transacting in cryptocurrencies, while saying global trends had shown a need to regulate such activities, the bank said in its latest circular. From a report: The Central Bank of Nigeria (CBN) in Feb. 2021 barred banks and financial institutions from dealing in or facilitating transactions in crypto assets, citing money laundering and terrorism financing risks. Subsequently Nigeria's Securities and Exchange Commission (SEC) in May last year published regulations for digital assets that signalled Africa's most populous country was trying to find a middle ground between an outright ban on crypto assets and their unregulated use.

In a circular dated Dec. 22, the CBN said current trends globally have shown there is a need to regulate the activities of virtual asset service providers (VASPs), which include cryptocurrencies and crypto assets. The latest guidelines spell out how banks and financial institutions (FI) should open accounts, provide designated settlement accounts and settlement services and act as channels for forex inflows and trade for firms transacting in crypto assets. VASPs would need to be licensed by the Nigerian SEC to engage in the crypto business.

The Washington Post begins a recent article with the story of an 18-year-old drug dealer with mental health issues named Zachary Burkard, who shot two unarmed 17-year-olds with a "ghost gun" he built from a kit bought online.

The father of one of those 17-year-olds thinks "They've just made it entirely too easy to get these guns... A child can buy one. There's no background checks. You don't even need a bank account. You can go to 7-Eleven and get a debit card, put money on it and buy a gun." The families of the two teens, with the help of the anti-gun-violence group Everytown for Gun Safety, are now suing the distributor of the parts Burkard used to make his ghost gun, 80P Builder of Florida, and the manufacturer, Polymer80 of Nevada, for gross negligence in providing a teenager with a weapon when he was not legally able to buy a handgun from a federally licensed dealer. The case, those who track the weapons say, demonstrates a frightening phenomenon... Teenagers have discovered the ease with which they can acquire the parts for a ghost gun, and they have been buying, building and shooting the homemade guns with alarming frequency. Everytown for Gun Safety compiled a list of more than 50 incidents involving teens and ghost guns since 2019. Among them:

- In Brooklyn Park, Minn., police arrested two teens with ghost guns in December after authorities said one of them attempted to shoot someone outside their car but instead killed their friend inside it.
- In New Rochelle, N.Y., a 16-year-old created a "ghost gun factory" in his bedroom last year, police said, before killing another 16-year-old...

The Bureau of Alcohol, Tobacco and Firearms (ATF) estimated that Polymer80 was responsible for more than 88 percent of the ghost guns recovered by police between 2017 and 2021, though there are nearly 100 manufacturers selling parts, or full kits, which can be made into unserialized guns, a list compiled by Everytown shows. Teens are hardly the only users. Last year, police departments seized at least 25,785 ghost guns nationwide, the Justice Department said recently, and those are just the weapons submitted by police to ATF for tracing, even though they don't have serial numbers and largely cannot be traced. In 2021, the number of guns recovered was 19,344, meaning seizures rose 33 percent the following year.

ATF has linked ghost guns to 692 homicides and nonfatal shootings through 2021, including mass killings and school shootings...

[This May] in Baltimore, authorities arrested three 14-year-olds after armed robberies and an armed carjacking. Police said one of them had a ghost gun. And in Valdosta, Ga., authorities said, a 16-year-old bought a ghost gun kit online in 2021 and assembled her own Glock-style pistol. One day while some friends were at her house, the teen accidentally shot a 14-year-old in the head, leaving him partially paralyzed, with severe brain damage and permanent physical and cognitive issues, his family's lawyer Melvin Hewitt said.
While some states have passed regulations, last year America's national firearm-regulating agency also declared parts of ghost guns to be firearms, according to the article, in an attempt to close a commonly-cited loophole. The parts makers challenged the new rule in court, lost twice, then won in a conservative federal court in Texas. The U.S. Justice Department may now appeal that decision to the higher Fifth Circuit court, and if it loses there "could appeal to the Supreme Court." Dudley Brown, the president of the National Association for Gun Rights, said he is against all regulation of privately made firearms, calling the practice of building weapons a "long and storied tradition in America."

YouTube has sent a cease-and-desist letter to Invidious, an open-source "alternative front-end" to the website which allows users to watch videos without having their data tracked, claiming it violates YouTube's API policy and demanding that it be shut down within seven days. From a report: "We recently became aware of your product or service, Invidious," reads the letter, which was posted on the Invidious GitHub last week. "Your Client appears to be in violation of the YouTube API Services Terms of Service and Developer Policies." The letter then delineates the policies which Invidious is accused of having violated, such as not displaying a link to YouTube's Terms of Service or "clearly" explaining what it does with user information. Invidious is open-source software licensed under AGPL-3.0, and it markets itself as a way for users to interact with YouTube without allowing the site to collect their data, or having to make an account. "Invidious protects you from the prying eyes of Google," its homepage reads. "It won't track you either!" Invidious also allows users to watch videos without being interrupted by "annoying ads," which is how YouTube makes most of its money.

Britain's failed attempt to send satellites into orbit was a "disaster" and MPs are being urged to redirect funding to hospitals, with the country now seen as "toxic" for future launches. The Guardian reports: Senior figures at the Welsh company Space Forge, which lost a satellite when Virgin Orbit's Start Me Up mission failed to reach orbit, said a "seismic change" was needed for the UK to be appealing for space missions. Lengthy delays by the Civil Aviation Authority (CAA), as well as the launch failure, had left Space Forge six months behind its competition in the race to be the first company to bring a satellite back down to Earth, when it had been six months ahead, the science and technology committee heard.

Patrick McCall, a non-executive director at Space Forge, said: "The CAA is taking a different approach to risk, and a bit to process and timing as well. But I think unless there is, without wanting to be too dramatic, a seismic change in that approach, the UK is not going to be competitive from a launch perspective. I think the conclusion I've reached is right now it's not a good use of money, because our regulatory framework is not competitive." He added that the UK ought to consider spending the money it was investing in launch capability on other areas, such as hospitals.

Greg Clark, the chair of the committee, said it was a "disaster" that an attempt to show what the UK was capable of had turned "toxic for a privately funded launch." "We had the first attempted launch but the result is that you as an investor in space are saying there is no chance of investors supporting another launch from the UK with the current regulator conditions." Dan Hart, the CEO of Virgin Orbit, told MPs he had expected the CAA to work more similarly to the Federal Aviation Authority in the US but he had found the UK regulator more conservative. The company has since ended its contract with Spaceport Cornwall at Newquay airport but said it was still hoping to launch from the site in the future. Sir Stephen Hillier, the chair of the CAA, said: "Our primary duty is to ensure that the space activity in the UK is conducted safely. The CAA licensed in advance of technical readiness."

An anonymous reader quotes a report from Reuters: Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months of 2021, more than $400 million flowed from the Binance.US account at California-based Silvergate Bank to this trading firm, Merit Peak Ltd, according to records for the quarter, which were reviewed by Reuters. The Binance.US account was registered under the name of BAM Trading, the U.S. exchange's operating company, according to the records. Company messages show the transfers to Merit Peak began in late 2020.

Reuters couldn't determine the reason for the transfers or whether any of the money belonged to Binance.US customers. The exchange's public terms of use at the time said its customers' dollar deposits were held at Silvergate and a Nevada-based custodian firm called Prime Trust LLC. Prime Trust made $650 million in wire transfer deposits into the Binance.US account during the quarter, the bank records show. [...] Binance.US's executives were concerned by the outflows because the transfers were taking place without their knowledge, according to messages reviewed by Reuters. The CEO of Binance.US at the time, Catherine Coley, wrote to a Binance finance executive in late 2020 asking for an explanation for the transfers, calling them "unexpected" and saying "no one mentioned them." [...]

Reuters was unable to trace what became of the $400 million. An unspecified portion of the money was subsequently sent to the Silvergate account of a Seychelles-incorporated firm called Key Vision Development Limited, according to a person with direct knowledge of the transfers. A 2021 corporate filing by another Binance unit identified CEO Zhao as a director of Key Vision. A former Silvergate executive confirmed that Key Vision held an account at Silvergate at the time. The money transfers suggest that the global Binance exchange, which is not licensed to operate in the United States, controlled the finances of Binance.US, despite maintaining that the American entity is entirely independent and operates as its "US partner." The Department of Justice and the Securities and Exchange Commission have sought information from Binance and Binance.US about their relationship as part of ongoing investigations into potential breaches of financial rules, including whether Binance is using the American exchange as cover for doing business in the U.S.

The world's biggest crypto exchange, Binance, is battling to shore up confidence after a surge in customer withdrawals and a steep drop in the value of its digital token. Reuters reports: The exchange said it dealt with net outflows of around $6 billion over 72 hours last week "without breaking stride" because its finances are solid and "we take our responsibility as a custodian seriously." After the collapse of rival exchange FTX last month, Binance's founder Changpeng Zhao promised his company would "lead by example" in embracing transparency. Yet a Reuters analysis of Binance's corporate filings shows that the core of the business -- the giant Binance.com exchange that has processed trades worth over $22 trillion this year -- remains mostly hidden from public view.

Binance declines to say where Binance.com is based. It doesn't disclose basic financial information such as revenue, profit and cash reserves. The company has its own crypto coin, but doesn't reveal what role it plays on its balance sheet. It lends customers money against their crypto assets and lets them trade on margin, with borrowed funds. But it doesn't detail how big those bets are, how exposed Binance is to that risk, or the full extent of its reserves to finance withdrawals. Binance is not required to publish detailed financial statements because it is not a public company, unlike U.S. rival Coinbase, which is listed on the Nasdaq. Nor has Binance raised outside capital since 2018, industry data show, which means it hasn't had to share financial information with external investors since then.

In an effort to look inside Binance's books, Reuters reviewed filings by Binance units in 14 jurisdictions where the exchange on its website says it has "regulatory licenses, registrations, authorisations and approvals." These locations include several European Union states, Dubai and Canada. Zhao has described the authorisations as milestones in Binance's "journey to being fully licensed and regulated around the world." The filings show that these units appear to have submitted scant information about Binance's business to authorities. The public filings do not show, for example, how much money flows between the units and the main Binance.com exchange. The Reuters analysis also found that several of the units appear to have little activity. Former regulators and ex-Binance executives say these local businesses serve as window dressing for the main unregulated exchange. Binance Chief Strategy Officer Patrick Hillmann said the Reuters analysis of the units' filings in the 14 jurisdictions was "categorically false."

Binance's Hillmann did not comment on the Reuters estimates. "The vast majority of our revenue is made on transaction fees," he said, adding that the exchange has been able to "accumulate large corporate reserves" by keeping expenses down. Binance's "capital structure is debt free" and the company keeps its money made from fees separate from the assets it buys and holds for users, Hillmann said.

Further reading: Binance US To Buy Bankrupt Voyager Digital's Assets for $1 Billion

Today, YouTube announced major changes to its YouTube Partner Program, allowing creators to earn ad revenue on Shorts, its TikTok competitor. TechCrunch reports: Now, Shorts creators can qualify for the Partner Program, which allows creators to earn ad revenue from YouTube. The existing Partner Program requires YouTubers to have over 1,000 subscribers and 4,000 watch hours in the last year. Now, Shorts creators can join the Partner Program if they have at least 10 million views on the platform over the last 90 days. As members of the Partner Program, these creators will earn 45% of ad revenue from their videos.

"I'm proud to say this is the first time real revenue sharing is being offered for short form video on any platform at scale," said YouTube Chief Product Officer Neal Mohan. He's right. TikTok has started experimenting with ad revenue sharing, but its efforts seem to focus more on the advertiser than the creator, as only the top 4% of all videos on TikTok can be monetized through its TikTok Pulse program. For the most part, creators have found it increasingly difficult to make money from TikTok's Creator Fund. [...]

YouTube Shorts is poised to become TikTok's biggest competitor. If creators can make more money on Shorts than on TikTok, then they're incentivized to make original content for the YouTube platform. YouTube also shared that this update to the Partner Program will enable the platform to license more music for use in Shorts, which could help encourage creators to use Shorts more often. Creators in the program will be compensated the same, regardless of whether they use licensed music. YouTube also unveiled Creator Music, now in beta testing. Creators can browse a large catalog of songs to purchase for use in their content, with the terms of the music rights spelled out in simple terms. They'll also be able to opt for tracks with new revenue-sharing option where both creators and music rights holders earn money from their content.

An anonymous reader quotes a report from Gizmodo: Blockdata, a crypto research firm, released an updated blog post Tuesday showing who's been the most active investors in the crypto scene from September 2021 through June 2022. Researchers noted big tech firms including the likes of Tencent, Microsoft, PayPal, Samsung, and Alphabet (Google) are putting big money into crypto companies and startups. Some of these companies, like PayPal, have been a longtime and verbal supporter of blockchain tech (thanks in part to its co-founder Peter Thiel). Still others, like Google, have been much more subdued. [...] What Google chooses to invest in may help answer where the company wants to see blockchain tech go, or what it may want to incorporate into its own tech infrastructure. In the report, Alphabet, the parent company of Google, sat at the top of the pile showing it had put over $1.5 billion into crypto companies over four rounds of investment. Some of the company's overall funds went to the likes of Dapper Labs, the company that was behind the NBA's Top Shot and UFC Strike licensed video NFTs. The company was also behind CryptoKitties, a NFT-based game that's seen the price of its products tank.

What makes this more complicated is there are actually two of Google's investing arms involved in this fundraising. GV (Google's investing arm once called Google Ventures) helped fund Dapper Labs and another crypto infrastructure company Voltage, which got $6 million in total investments at the start of 2022. CapitalG, the company's independent private equity firm, had a hand in the $550 million raised by Fireblock, a crypto custody firm, as well as investments with digital currency venture capital company Digital Currency Group Of course, this was all before the most recent crypto crash, which has seen a multitude of once-strong crypto companies layoff thousands of workers. Though it's not like this is the first time we've heard about Google's parent company Alphabet with their big financial interest in blockchain companies. They've been investing in this tech since 2016, according to the Blockdata report. Previous reports showed they had put money into crypto companies like Ripple (which just like many small altcoins since the recent crypto crash, isn't doing too hot). Google had previously made much wider investments across a wider variety of blockchain-based companies. That was then, and this is now. Blockdata analysts said this limited slate of investments is an attempt to make concentrated bets on a small set of companies, but even with executive's stated hopes for blockchain tech, it's hard to see all investments truly panning out.

Though it was fourth in the size of its contributions, Samsung was leading the pack in the number -- and eye-twitching variety -- of crypto ventures it was making it rain on over an incredible 13 rounds of investing. A total of $979.26 million went to the likes of Dank Bank, a NFT platform for trying to monetize "memes and other iconic moments in internet history." They put more of their funds behind Yuga Labs, the creators of the Bored Ape Yacht Club NFTS. They put down their investment in March, but in April, users on the group's official Instagram and Discord were scammed of nearly $13.7 million worth of NFTs. Still, founders said many of BAYC's rather strange initiatives like a Bored Ape "Metaverse" are still moving full steam ahead. They also put money into Sky Mavis, the makers of the crypto-based "play-to-earn" game Axie Infinity. That investment probably didn't do them any wonders considering its token bridge suffered one of the biggest hacks in crypto history earlier this year. The game has struggled to recover after that blow, though players had already been leaving the platform before hackers snatched away bridge funds. "Blockdata's research shows that 81 of the top 100 public companies have made some kind of past or present crypto investment," adds Gizmodo. "2021 showed the absolute highest amount of overall investment in blockchain companies. Funding totals have increased by a factor of 14 from 2019 to last year."

North Carolina's largest newspaper, Raleigh's News & Observer newspaper, reports that "In the face of stiff opposition from farm equipment companies and dealers, North Carolina state senators on Tuesday walked back a provision that would have widened access to the repair of farming equipment." The so-called "right to repair" provision was included in the Farm Act of 2022, Senate Bill 762, which was discussed Tuesday in the Senate's Agriculture, Energy and Environment Committee. As introduced, the bill would have required manufacturers of farming equipment that relies on digital components to make diagnostic equipment and parts available at "fair and reasonable terms." Representatives of national farm equipment trade groups and North Carolina equipment dealers opposed the bill. Allowing repairs outside of authorized shops, they argued, could damage equipment, pose a risk of injury, and make it possible for farming equipment to violate the Clean Air Act.

After hearing from seven people, Sen. Brent Jackson, a Sampson County Republican, replaced the right to repair provision with language calling on the General Assembly's Agricultural and Forestry Awareness Study Commission to evaluate whether further action is necessary.
More from North Carolina TV station WRAL: Manufacturers and their licensed dealerships counter that they spend millions of dollars stocking parts and training field technicians to service equipment safely and within the parameters of federal laws like the Clean Air Act. More than a dozen dealers and representatives lined up to speak against the provision in the state Senate agriculture committee Tuesday... [Right-to-repair] supporters were far outnumbered by opponents, who warned that giving consumers access to embedded software would allow unsafe or illegal modifications to the equipment, from emissions compliance to safety shutoffs.

Philip Brooks, a dealer from Monroe, said his service techs receive extensive training. "A simple common rail diesel system with a line broken loose with a wrench under pressure can kill a man. We need to be careful of all these things," he told the committee.

Brian Jennings, a farm equipment dealer from Elizabeth City, testified: "I do not support the attacks — and I call them attacks — on our business. We are contracted dealers. We spend a lot of money to be dealers."

"Former heads of nuclear regulatory bodies across Europe and the US put out a statement this week voicing their opposition to nuclear energy as a climate solution," reports The Verge's Justine Calma. The publication spoke with Gregory Jaczko, former chairman of the US Nuclear Regulatory Commission, to learn more about why some nuclear experts oppose the energy source as a climate fix. Slashdot reader Ol Olsoc shares an excerpt of the interview: Former NRC Chair Gregory Jaczko in an interview with the Verge notes: "I think there's been a lot of misinformation about the role that nuclear power can play in any climate strategy. A lot of attention has been put on nuclear as somehow the technology that's going to solve a lot of problems when it comes to dealing with climate change. I just think that's not true. And it's taking the debate and discussion away from the areas that can have a role and that do need focus and attention." He added: "I think it's money that's not well spent. Nuclear has shown time and time again that it cannot deliver on promises about deployment and costs. And that's really the most important factor when it comes to climate." Jaczko goes on to note how many of the nuclear plants when he was chairman were supposed to come online but have experienced delays and exceptional cost overruns. Two of the four new design reactors that were licensed when he was chairman, which were supposed to be starting production in 2016 and 2017, were canceled, "and that involved federal indictments for fraud among the heads of the company running that reactor development." The other two, he says, "continue to be pushed back and now are scheduled to start in 2022 or 2023" with a price tag that's over $30 billion.