Coinbase has reintroduced crypto-backed loans, allowing US customers to borrow against their Bitcoin. The service, currently unavailable in New York, uses the decentralised finance (DeFi) protocol Morpho to handle lending operations. Customers can borrow USDC while Coinbase facilitates the process, removing the need to interact directly with complex DeFi systems.
The new programme marks a significant step in bridging traditional crypto exchanges with the DeFi world. By integrating a sleek, consumer-friendly interface, Coinbase makes over-collateralised loans more accessible, concealing the intricate mechanics of DeFi from users. The loans use cbBTC, a DeFi-compatible version of Bitcoin issued by Coinbase, as collateral.
The move follows the discontinuation of Coinbase’s previous loan offering in 2023 after regulatory challenges and waning demand. With this streamlined approach, Coinbase hopes to attract more users to DeFi lending, tapping into the billions of dollars worth of Bitcoin held by its customers.
As a potential US ban on TikTok looms, advertisers dependent on the platform are scrambling to prepare contingency plans. With a January 19 deadline for ByteDance, the Chinese parent company of TikTok, to sell its US assets or face a ban, many marketers are facing the reality that the app may soon be inaccessible. This has led to a sense of urgency, with some industry professionals describing the situation as a “hair on fire” moment.
TikTok, which has become a key player in US digital advertising, particularly among younger audiences, may lose over $11 billion in annual ad revenue if the ban goes through. Most of this ad spend would likely shift to platforms like Meta’s Instagram and Alphabet’s YouTube Shorts, where many advertisers are already established. Despite the uncertainty, TikTok continued to pitch new advertising features and planned its presence at major global events like the World Economic Forum in Davos.
In the face of potential shutdown, many influencers and brands are downloading their data in a last-ditch effort to preserve content and advertising materials. TikTok has offered favourable refund terms to advertisers, though some still question the platform’s future in the US. This heightened uncertainty marks a stark contrast to the optimism advertisers held just weeks ago, when many expected a resolution before the ban could take effect.
TikTok’s growing influence in US advertising, particularly in e-commerce, has been notable, with ad spending on the platform increasing rapidly. Despite challenges, the app’s powerful ability to drive sales through influencers and short-form video content has made it a favourite among advertisers looking to tap into the youth market. As the deadline approaches, all eyes are on whether the incoming administration will intervene to prevent TikTok’s shutdown.
TikTok’s future in the US grew more uncertain this week as officials suggested its Chinese owner, ByteDance, should have more time to sell the app and prevent a ban. With the clock ticking toward Sunday’s deadline, key figures from both political sides urged for a 90-day extension to allow for a divestiture. US Representative Mike Waltz, who was appointed as Trump’s national security adviser, indicated that the new administration would take steps to keep TikTok operational if substantial progress is made in securing a deal.
Senate Majority Leader Chuck Schumer, traditionally a supporter of the law forcing TikTok to sell its US assets, also called for an extension, citing concerns over the app’s potential shutdown disrupting the lives of millions of users. The law, passed in April, mandates ByteDance either sell TikTok’s US assets by Sunday or face a ban on national security grounds. However, it’s now unclear whether the app will be allowed to stay active in the US without an official extension.
TikTok CEO Shou Zi Chew is reportedly set to attend President-elect Donald Trump’s inauguration, further hinting at a shift in relations between the app and the Trump administration. While concerns about Chinese ownership and its potential for data collection remain, Schumer and other lawmakers are signalling a growing bipartisan desire to avoid the political and economic fallout of a TikTok ban. The situation remains fluid, with decisions expected to unfold in the coming days.
As the deadline approaches, TikTok’s potential shutdown has already caused some users to explore alternatives, with RedNote, another Chinese social media platform, seeing a surge in US users. Meanwhile, with more than 170 million American users and substantial ad revenue at stake, the clock is ticking for a resolution before the app faces a permanent ban.
Indian telecom giant Jio Platforms, owned by billionaire Mukesh Ambani, has launched its reward-based token, JioCoin, on the Polygon network. The token was integrated into Jio’s proprietary JioSphere browser, which allows users to earn JioCoins while browsing. However, Jio has not made an official announcement regarding the token’s full utility or potential use cases.
While JioCoin is currently not transferable or redeemable, industry experts speculate it may eventually serve as a currency within Jio’s vast network of companies. Users could potentially redeem the token for services such as mobile recharges or purchases at Reliance gas stations. Despite the potential, the community has raised questions about the token’s transparency, including concerns about its block explorer, smart contracts, and listing on price trackers.
Critics have compared JioCoin to the Brave browser’s Basic Attention Token (BAT), while some view it as a marketing gimmick. Meanwhile, supporters highlight the token’s integration with blockchain and Web3 technology, noting it could bring practical utility to users in the future. The launch comes amid a strict regulatory environment for cryptocurrencies in India, with a flat 30% tax on crypto gains and no loss offsets.
Google has entered into a significant deal to buy carbon credits from an Indian project that turns agricultural waste into biochar, a form of charcoal that removes carbon dioxide (CO2) from the atmosphere and stores it in the soil. This partnership with Indian supplier Varaha is one of the largest of its kind and marks Google’s first venture into India’s carbon dioxide removal (CDR) sector. The tech giant plans to purchase 100,000 tons of carbon credits from the initiative through 2030, as part of its broader strategy to offset emissions.
Biochar, which can sequester CO2 for centuries, is seen as a promising, cost-effective solution for carbon removal, offering immediate scalability using existing technologies. Varaha will use waste from hundreds of smallholder farms in India to produce the biochar, which will also be distributed to farmers as an alternative to fertilisers. The project has the potential to store millions of tons of CO2 annually, with Varaha’s CEO, Madhur Jain, noting that India’s agricultural waste could generate enough biochar to store over 100 million tons of CO2 each year.
While carbon dioxide removal efforts like biochar are gaining traction, some experts caution that such solutions should not replace direct emissions cuts. There are also concerns about the long-term permanence of CO2 storage through biochar. However, Jain emphasised the urgent need to address global warming, stating that even temporary reductions in CO2 are critical in the fight against climate change. As the CDR market expands, it remains a key tool for companies like Google seeking to offset their environmental impact.
China’s Commerce Ministry announced plans to investigate US government subsidies to its semiconductor sector following requests from China’s mature node chip industry. The ministry stated on Thursday that these subsidies, introduced under the Biden administration, allegedly provide American companies with an unfair competitive advantage in the global market.
According to the Chinese government, US firms have exported mature node chip products to China at reduced prices, causing harm to the interests of China’s domestic semiconductor industry. Beijing views these practices as a threat to its industry’s rights and competitive balance.
The investigation reflects rising tensions between the two nations over technology and trade, particularly as both seek to bolster their semiconductor sectors amid growing geopolitical competition.
Austrian advocacy group Noyb has filed privacy complaints against six Chinese companies, including TikTok, Shein, and Xiaomi, alleging illegal transfers of European user data to China. The group, known for targeting US tech giants like Apple and Meta, said this is its first case against Chinese firms. Complaints have been filed in four EU countries, seeking fines of up to 4% of each company’s global revenue.
Noyb claims that companies such as Alibaba’s AliExpress and Tencent’s WeChat transfer EU citizens’ data either directly to China or undisclosed ‘third countries,’ which are likely China. Under EU data protection laws, such transfers are prohibited if the destination country fails to meet the bloc’s strict privacy standards. A Noyb lawyer emphasised that China’s status as a ‘surveillance state’ makes such transfers clearly unlawful.
The allegations add to mounting regulatory challenges for Chinese tech firms. TikTok, already under scrutiny in Europe for election interference concerns, faces a potential US ban starting Sunday over national security fears. Regulators in multiple regions continue to ramp up pressure on Chinese companies amid growing global concerns over data privacy and security.
Nvidia has made its first investment in a Taiwanese startup by backing MetAI, a company specialising in AI-powered digital twins. MetAI raised $4 million in a seed funding round that also attracted several strategic investors, including Kenmec Mechanical Engineering and SparkLabs Taiwan.
The startup focuses on creating ‘SimReady’ digital twins, converting CAD files into realistic 3D environments within minutes. These virtual replicas are essential for training robots and building autonomous systems before their real-world deployment. Nvidia views this as a critical step in advancing its industrial AI platform, Omniverse.
MetAI claims its technology significantly reduces the time needed to build virtual simulations, making AI-driven automation more efficient. With plans to expand into the US, the company is eyeing markets with high operational costs and a growing need for digital solutions. MetAI’s collaboration with Nvidia is expected to set new standards for industries such as manufacturing and robotics.
TikTok has reassured its 7,000 US employees that their jobs, pay, and benefits will remain secure even if the Supreme Court upholds a law requiring the sale or ban of the platform in the United States. In an internal memo seen by Reuters, the company emphasised its commitment to employee wellbeing and maintaining operations, despite the looming January 19 deadline for the law to take effect.
The law, passed in April, targets the US operations of TikTok, owned by China-based ByteDance, amid concerns over data security and national security. Although President-elect Donald Trump has called for an extension to seek a ‘political resolution,’ the Supreme Court appears inclined to uphold the legislation. If the court does not intervene, TikTok downloads from app stores will be banned, and the app’s functionality could degrade over time as companies are prohibited from supporting its services.
TikTok’s leadership stated that the law impacts only the US user experience, not the employment of its staff, and reaffirmed its dedication to protecting employees and the platform’s 170 million American users. ‘Our leadership team remains laser-focused on planning for various scenarios and navigating the path forward,’ the memo said.
For now, TikTok’s offices will remain open, and the company continues to explore strategies to adapt to the evolving situation while ensuring continuity for its employees and users.
Meta may be forced to halt or modify features in India after an antitrust ruling banned its WhatsApp messaging service from sharing user data with Meta for advertising purposes. The Competition Commission of India (CCI) imposed a $24.5 million fine and a five-year ban on the practice, accusing the company of abusing its dominance and coercing WhatsApp users into accepting a 2021 privacy policy that allegedly expanded data sharing unfairly.
India, Meta’s largest market with over 500 million WhatsApp users and 350 million Facebook users, is crucial for the company’s operations. The data-sharing ban could impact Meta’s ability to offer personalised ads on Facebook and Instagram, the company said in its court filing. Meta argued that this restriction could harm businesses, such as fashion brands, that rely on personalised ads to connect with customers. The US firm also warned the ruling could threaten its commercial viability in the region.
Meta has publicly defended its 2021 policy changes but criticised the CCI’s decision in a 2,000-page tribunal appeal, claiming the watchdog lacks the technical expertise to assess the implications of its ruling. The Indian appeals tribunal is set to hear Meta’s case, with the possibility of pausing the CCI directive while the legal process unfolds.
This challenge in India adds to Meta’s global struggles, including prior accusations in the EU over unclear privacy policy changes. The CCI’s ruling now requires WhatsApp to give users the choice to opt out of data sharing with Meta, signaling a broader push for greater transparency and user control in data practices worldwide.
