Polish authorities have detained Dmitry V., the former head of Russia’s crypto exchange WEX, in Warsaw following an extradition request from the US Department of Justice. During his tenure at WEX, Dmitry V. was suspected of fraud and money laundering. He is facing potential extradition to the US, where charges could carry a maximum 20-year prison sentence.
Dmitry V. has been linked to WEX, a successor to BTC-e, once Russia’s largest cryptocurrency platform before its collapse in 2018. The exchange was infamous for lax identity checks and ties to high-profile crypto hacks, including the Mt. Gox breach. Around $450 million remains unaccounted for from WEX, which had processed over $9 billion in transactions during its operation.
This is not Dmitry V.’s first arrest; he was previously detained in Poland in 2021 and later apprehended by Interpol in Croatia in 2022. His history also includes a 2019 arrest in Italy, which was short-lived due to errors in the extradition process.
Sens. Mike Lee (R-Utah) and Peter Welch (D-Vt.) are calling for an investigation into potential antitrust violations by FanDuel and DraftKings. In a joint letter to the Federal Trade Commission (FTC) and the US Department of Justice, the lawmakers accused the two sports betting giants of collaborating to suppress competition in the online sports betting market. The issue centres around their 2016 merger attempt, which was blocked by the FTC due to concerns about market dominance.
Since the merger was scrapped, Lee and Welch argue that FanDuel and DraftKings have used their dominance in fantasy sports to stifle smaller competitors in the online betting space. They claim that the companies, through the Sports Betting Alliance trade group, have intimidated rivals, blocked access to technology, and undermined marketing opportunities, which could harm innovation and prevent new players from entering the market.
FanDuel and DraftKings have not publicly commented on the allegations, and the Justice Department has acknowledged receipt of the letter but has not provided further details. The news has caused a drop in DraftKings’ stock, with Sen. Lee highlighting the potential societal impacts of the companies’ actions.
The European Union is investigating Nvidia’s business practices, focusing on whether the AI chip leader ties its GPU products to other hardware like networking equipment. Nvidia, which dominates the GPU market with an 84% share, has faced increasing global scrutiny due to its role in the AI and accelerated computing sectors.
Regulators recently distributed questionnaires to Nvidia’s competitors and customers as part of their preliminary fact-finding process. If proven, antitrust violations could result in fines up to 10% of the company’s annual global turnover.
Nvidia has denied any wrongdoing, asserting its products compete on merit and support customer choice. The inquiry coincides with a separate investigation by France‘s antitrust authority, which may soon press charges.
Pavel Durov, founder of Telegram, appeared in a Paris court on 6 December to address allegations that the messaging app has facilitated criminal activity. Represented by his lawyers, Durov reportedly stated he trusted the French justice system but declined to comment further on the case.
The legal proceedings stem from charges brought against Durov in August, accusing him of running a platform that enables illicit transactions. Following his arrest at Le Bourget airport, he posted a $6 million bail and has been barred from leaving France until March 2025. If convicted, he could face up to 10 years in prison and a fine of 500,000 euros.
Industry experts fear the case against Durov reflects a broader crackdown on privacy-preserving technologies in the Web3 space. Parallels have been drawn with the arrest of Tornado Cash developer Alexey Pertsev, raising concerns over government overreach and the implications for digital privacy.
American TikTok creators are urging their followers to connect on platforms like Instagram and YouTube after a federal appeals court upheld a law that could ban TikTok in the US unless its Chinese parent company, ByteDance, sells its American operations by January 19. The looming deadline has sparked anxiety among creators and businesses reliant on TikTok’s vast reach, which includes 170 million US users.
The platform’s popularity, especially among younger audiences, has turned it into a hub for creators, advertisers, and small businesses, with features like TikTok Shop driving significant economic activity. Some creators, like social media influencer Chris Mowrey, expressed fears about losing their livelihoods, emphasising the potential economic blow to small enterprises and content creators.
While some users are bracing for a shutdown, others remain sceptical about the ban’s likelihood, holding off on major changes until more clarity emerges. In the meantime, creators like Chris Burkett and SnipingForDom are diversifying their presence across platforms to safeguard their communities and content. For many, the uncertainty surrounding TikTok’s future is a stark reminder of the fragile nature of digital ecosystems.
Google has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) over its decision to place the company’s payment division under federal supervision. The legal dispute arises from the CFPB’s claims that Google’s handling of its payment products, including a discontinued peer-to-peer payment service, posed risks to consumers.
The lawsuit, lodged in the Washington, DC district court, argues that the CFPB’s actions constitute government overreach. Google asserts the decision was based on limited and unverified user complaints, stating that a discontinued product cannot pose consumer risks. The CFPB, however, maintains that its supervisory authority is essential to enforcing compliance with financial laws, even for defunct services.
Google spokesperson José Castañeda described the agency’s oversight as unnecessary, reiterating that the company’s payment products have always prioritised user safety. Google also claims the CFPB set an unreasonably low standard for determining consumer risks, leading to undue regulatory burdens.
The CFPB’s authority to oversee nonbank financial institutions, announced in 2022, allows it to conduct examinations and intervene against potential risks to consumers. Google contends that applying such measures to its payments division is unjustified and aims to challenge the agency’s approach in court.
A Rotterdam court is set to hold a pretrial hearing on Monday concerning a former Russian employee of ASML accused of stealing intellectual property from the Dutch semiconductor equipment maker. The suspect, a 43-year-old Russian national, allegedly profited by selling company manuals, including those of ASML’s Mapper subsidiary, to Russian buyers, according to Dutch media reports.
ASML, which acquired Mapper in 2019, confirmed its awareness of the case and said it had filed a formal complaint, declining further comment during ongoing legal proceedings. The suspect is reportedly in custody, though details of the arrest remain unclear.
Mapper, a Dutch firm focused on developing E-beam lithography technology, was integrated into ASML following its 2019 bankruptcy. While Mapper’s product did not succeed, its engineers joined ASML’s chip-measuring business, helping to bolster the company’s capabilities. This acquisition eased concerns about sensitive technology falling into foreign hands, a priority for both the Dutch government and the US military.
A US federal appeals court has upheld a law requiring TikTok’s Chinese parent company, ByteDance, to sell its US operations by 19 January or face a nationwide ban. The ruling marks a significant win for the Justice Department, citing national security concerns over ByteDance’s access to Americans’ data and its potential to influence public discourse. TikTok plans to appeal to the Supreme Court, hoping to block the divestment order.
The decision reflects bipartisan efforts to counter perceived threats from China, with Attorney General Merrick Garland calling it a vital step in preventing the Chinese government from exploiting TikTok. Critics, including the ACLU, argue that banning the app infringes on First Amendment rights, as 170 million Americans rely on TikTok for creative and social expression. The Chinese Embassy denounced the ruling, warning it could damage US-China relations.
Unless overturned or extended by President Biden, the law could also set a precedent for restricting other foreign-owned apps. Meanwhile, TikTok’s rivals, such as Meta and Google, have seen gains in the wake of the decision, as advertisers prepare for potential shifts in the social media landscape.
The European Union has directed TikTok to retain data related to Romania’s elections under the Digital Services Act, citing concerns over foreign interference. The move follows pro-Russia ultranationalist Calin Georgescu’s unexpected success in the presidential race’s first round, raising alarm about coordinated social media promotion.
Declassified documents revealed TikTok’s role in amplifying Georgescu’s profile via coordinated accounts and paid algorithms, despite his claim of no campaign spending. Romania‘s security agencies have flagged these efforts as ‘hybrid Russian attacks,’ accusations Russia denies.
TikTok stated its cooperation with the EU in addressing concerns and pledged to establish facts amid allegations. Romania’s runoff presidential vote is seen as pivotal for the country’s EU alignment.
European Union antitrust regulators are investigating whether Nvidia’s proposed $700 million acquisition of Run:ai could strengthen its dominant position in graphics processing units (GPUs). Nvidia currently holds 84% of the GPU market, far outpacing competitors Intel and AMD. Regulators are questioning Nvidia customers about potential bundling practices that might offer discounts for purchasing both its GPUs and software.
The European Commission is exploring whether such bundling provides Nvidia with a competitive edge and whether these practices could harm market competition. The Commission has set a preliminary review deadline of 20 December. Customers have also been asked how an open-source approach to Run:ai’s operations might impact their businesses. Nvidia has yet to comment on the inquiry.
GPUs are critical for data centres, gaming, and cryptocurrency mining, making this deal significant for the technology sector. The investigation could influence how Nvidia integrates Run:ai into its portfolio.
