Canada’s central bank has halted its plans to develop a Central Bank Digital Currency (CBDC), focusing instead on research as other nations like China and Nigeria press ahead. The Bank of Canada initially launched the project in 2017 to explore the potential of a digital Canadian dollar. However, after years of investigation and public consultations, the bank has decided to rethink its approach due to low public interest and security concerns.
A recent survey revealed that 87% of Canadians said they would never use a digital currency, with 92% expressing a preference for traditional payment methods. Major concerns included cybersecurity threats and the privacy of digital transactions. Despite this, the central bank had maintained that the digital dollar would not replace paper currency but serve as a simplified way to make online payments.
While Canada shifts away from its CBDC project, other countries are making progress. China’s digital yuan pilot, for example, has already facilitated nearly $986 billion in transactions, making it the largest initiative worldwide. Global efforts to introduce CBDCs continue to grow, driven in part by geopolitical events and changing payment technologies.
Microsoft has announced a deal with Constellation to help restart a unit of the Three Mile Island facility, which has been dormant since 2019 due to operational issues. This agreement has led to a significant increase in Constellation’s shares, which surged by 22%. It’s worth noting that no US nuclear plant has reopened after being shut down.
Jefferies analysts estimate that Microsoft may pay between $110 and $115 per megawatt-hour (MWh) for its 20-year fixed-price agreement with Constellation Energy, marking a notable premium compared to the market expectation of around $100 per MWh. This pricing reflects the growing recognition of the value of nuclear energy as a clean and reliable power source, particularly amid rising demand from data centres driven by AI technology.
Analysts emphasised that customers are increasingly willing to pay substantial premiums for nuclear energy contracts, which supports the financial viability of such projects and enhances the overall volume of power available in the market at competitive rates. This trend could encourage further investments in nuclear energy and strengthen the role of such facilities in meeting the country’s energy needs.
A German court has ruled that Amazon is using Nokia’s patented video technologies without obtaining a proper licence, according to a statement from Nokia. The decision, made by the Munich Regional Court, found that Amazon’s streaming devices are illegally utilising Nokia’s patented video-related technologies, which the Finnish company holds rights to.
Nokia’s Chief Licensing Officer, Arvin Patel, expressed satisfaction with the ruling, stating that Amazon has been selling these devices without the necessary licences in place. The ruling highlights ongoing disputes between tech giants over intellectual property.
In response to Nokia’s legal actions, Amazon filed a lawsuit in July in a Delaware federal court, accusing the company from Finland of infringing on a dozen Amazon patents related to cloud-computing technology.
This legal battle is part of a broader pattern of disputes between major tech companies, as patent rights continue to play a critical role in the development of new technologies and services.
A recent report by NFT Evening analysts reveals that 96% of over 5,000 NFT collections are considered “dead” in 2024. These collections have seen no trading activity, sales, or social media engagement for more than a week, highlighting the steep decline in the once-thriving non-fungible token market. The average lifespan of NFT collections has also shortened to just over a year, significantly less than traditional cryptocurrency projects.
2023 was a particularly challenging year for NFTs, with nearly 30% of projects collapsing, and almost half of all NFT owners facing losses. Despite this bleak outlook, some collections, such as Azuki, have still proven profitable, delivering a 2.3x return on investment for token holders. On the flip side, Pudgy Penguins holds the record for the largest drop in value, losing 97% of its worth.
Experts warn that the NFT market’s decline calls for caution among investors and suggests creators rethink their approach to project development. As the market continues to shrink, many are urging for a more sustainable and strategic direction to prevent further collapses.
The US Securities and Exchange Commission (SEC) has approved Nasdaq’s application to list options on the iShares Bitcoin Trust ETF, marking a significant step towards trading derivatives linked to the product. Before trading can officially begin, further approvals are needed from the Options Clearing Corporation and the Commodity Futures Trading Commission. Several other exchanges are also seeking approval for similar products.
It is expected to boost investor interest and liquidity around Bitcoin ETFs. Bloomberg Intelligence ETF analyst Eric Balchunas noted that gaining the SEC’s approval is crucial for attracting larger investors. The iShares Bitcoin Trust ETF, trading under the ticker IBIT, has already amassed around $22.7 billion in assets since its approval by the SEC earlier this year, following a legal battle led by Grayscale Investments.
MicroStrategy Inc. has successfully raised $1.01 billion through the sale of convertible senior notes, which it plans to use for purchasing more Bitcoin and redeeming higher-yielding securities. Between 13 and 19 September, the company allocated $458 million from this sale to acquire additional Bitcoin. With approximately $15.8 billion in Bitcoin holdings, MicroStrategy is the largest publicly traded corporate holder of the cryptocurrency, while BlackRock manages the largest Bitcoin exchange-traded fund.
Co-founder and Chairman Michael Saylor has effectively transformed the Virginia-based software firm into a crypto hedge-fund proxy since its initial Bitcoin purchase in 2020. This latest sale of convertible notes marks the fourth such transaction this year, with the 0.625% securities set to mature in 2028. In addition, the company is redeeming $500 million of 6.125% notes also due in 2028.
As of 19 September, MicroStrategy held approximately 252,220 Bitcoin, as reported in a recent Securities and Exchange Commission filing. The firm’s shares have seen a remarkable increase, more than doubling this year, compared to a roughly 50% rise in Bitcoin’s price over the same period.
A recent report from the US Federal Trade Commission (FTC) has criticised social media platforms for lacking transparency in how they manage user data. Companies such as Meta, TikTok, and Twitch have been highlighted for inadequate data retention policies, raising significant privacy concerns.
Social platforms collect large amounts of data using tracking technologies and by purchasing information from data brokers, often without users’ knowledge. Much of this data fuels the development of AI, with little control given to users. Data privacy for teenagers remains a pressing issue, leading to recent legislative moves in Congress.
Some companies, including X (formerly Twitter), responded by saying that they have improved their data practices since 2020. Others failed to comment. Advertising industry groups defended data collection, claiming it supports free access to online services.
FTC officials are concerned about the risks posed to individuals, especially those not even using the platforms, due to widespread data collection. Inadequate data management by social platforms may expose users to privacy breaches and identity theft.
Samsung Display Co has unveiled plans to invest an additional $1.8 billion in a new factory located in northern Vietnam. This facility will specialise in the production of organic light-emitting diode (OLED) displays, targeting both the automotive and technology sectors. Positioned in the Yen Phong industrial park in Bac Ninh province, the site will be in proximity to an existing Samsung Electronics plant.
A memorandum of understanding was signed between Bac Ninh authorities and Samsung Display, marking a significant step for the project. With this investment, Samsung’s total financial commitment in Bac Ninh will rise to $8.3 billion, increasing from the current $6.5 billion. This development reflects the ongoing collaboration between the local government and Samsung.
Over the past decade, Vietnam has established itself as a prime location for electronics manufacturing. Choi Joo Ho, the General Director of Samsung in Vietnam, highlighted the company’s extensive presence, which includes six manufacturing plants and one research and development centre. Cumulatively, Samsung’s investments in the country now amount to $22.4 billion.
Samsung’s expansion in Vietnam signals confidence in the region’s capabilities and its strategic importance within the global supply chain. As the company continues to grow, the move is likely to bolster both local employment and the technological landscape.
Apollo Global Management is considering a significant investment of up to $5 billion in Intel, according to a report by Bloomberg News. The offer comes at a challenging time for Intel, as its share value has plummeted nearly 60% since the beginning of the year. Discussions regarding this potential investment are still in preliminary stages, with Intel executives currently assessing the proposal.
While talks with Apollo are ongoing, the outcome remains uncertain, and the investment size could change. Intel has not provided comments on the report, and Apollo did not respond to further inquiries. Earlier this year, Apollo had announced plans to invest $11 billion in a joint venture linked to Intel’s new manufacturing facility in Ireland.
In addition to Apollo’s interest, Qualcomm is also exploring the possibility of acquiring Intel. Qualcomm’s CEO Cristiano Amon is personally involved in the negotiations, which are still in the early stages. Potential acquisition like this one could have transformative implications for the semiconductor industry.
Intel’s recent struggles have drawn attention from major players in the tech sector, highlighting the shifting landscape of the chip market. With both Apollo and Qualcomm looking to invest or acquire, Intel’s future direction remains a critical topic for industry analysts.
Two leading chip manufacturers, TSMC and Samsung Electronics, are exploring the establishment of chip factories in the United Arab Emirates. Reports suggest these projects could surpass $100 billion in value, indicating significant investment in the region’s technology sector.
Executives from TSMC have made recent visits to the UAE, discussing plans for a facility comparable to their advanced plants in Taiwan. Meanwhile, Samsung is also assessing opportunities for major chip-making operations in the country, though these talks remain in preliminary stages.
Funding for these ambitious projects may largely come from the UAE, with Abu Dhabi’s Mubadala playing a crucial role. The overarching aim is to boost global chip production while maintaining the profitability of manufacturers.
As tech ventures in the Middle East accelerate, concerns in Washington grow regarding the potential transfer of advanced US technology to China via the UAE and other regional partners.
