Bitcoin surged past $100,000 in 2024, more than doubling its value, driven by pivotal regulatory and political developments. The US Securities and Exchange Commission’s approval of exchange-traded funds tied to Bitcoin’s spot price marked a significant milestone, attracting mainstream and institutional interest in the cryptocurrency sector.
A broader crypto rally saw Bitcoin gain over 120% and Ethereum rise nearly 50%, boosting the market’s total value to $3.5 trillion. Analysts predict Bitcoin could reach $200,000 by late 2025, solidifying its status as a premier store of value. Enthusiasm for the asset class has extended to corporate treasuries, with firms like MicroStrategy leading the charge.
MicroStrategy’s shares quintupled in 2024, reflecting its substantial Bitcoin holdings. Other companies, including major financial players, are incorporating Bitcoin into their portfolios. Meanwhile, Donald Trump’s victory in the US presidential election, coupled with his pro-crypto stance, further energised the market.
Despite the rally, challenges persist for smaller crypto miners. Rising energy and hardware costs have limited gains for firms like Riot Platforms and Marathon Digital, which struggled against the year’s bullish trends.
A US Army soldier, Cameron John Wagenius, has been charged with selling and attempting to sell stolen confidential phone records. Arrested on 20 December, Wagenius faces two charges of unlawfully transferring confidential information in a Texas federal court. His rank and station have not been disclosed, though he is reportedly based at Fort Cavazos in Texas.
Authorities allege that Wagenius, known online as ‘Kiberphant0m’, claimed involvement in hacking activities, including phone records linked to high-profile figures. The case is connected to a broader investigation involving hackers accused of stealing sensitive personal and financial information. Prosecutors have revealed the involvement of a hacking group targeting data storage firm Snowflake’s customers.
Cybersecurity researchers identified Wagenius after members of the group issued threats against them. Law enforcement acted swiftly following the tip-off, according to Allison Nixon of Unit 221B. The prosecution is being handled in Seattle, where two co-defendants, Connor Moucka and John Binns, face related charges for extensive data breaches.
The Department of Justice and the FBI have yet to comment on the case. Wagenius has been ordered to appear in Seattle, where the investigation continues.
Sanctions have been imposed by the US on organisations in Iran and Russia accused of attempting to influence the 2024 presidential election. The Treasury Department stated these entities, linked to Iran’s Revolutionary Guard Corps (IRGC) and Russia’s military intelligence agency (GRU), aimed to exploit socio-political tensions among voters.
Russia’s accused group utilised AI tools to create disinformation, including manipulated videos targeting a vice-presidential candidate. A network of over 100 websites mimicking credible news outlets was reportedly used to disseminate false narratives. The GRU is alleged to have funded and supported these operations.
Iran’s affiliated entity allegedly planned influence campaigns since 2023, focused on inciting divisions within the US electorate. While Russia’s embassy denied interference claims as unfounded, Iran’s representatives did not respond to requests for comment.
A recent US threat assessment has underscored growing concerns about foreign attempts to disrupt American democracy, with AI emerging as a critical tool for misinformation. Officials reaffirmed their commitment to safeguarding the electoral process.
The owner of TikTok, ByteDance, plans a significant $7 billion investment in AI hardware by 2025. The company is turning to Nvidia chips despite US-imposed restrictions on AI chip exports to China. ByteDance has devised methods to bypass these curbs by storing chips in data centres outside China, particularly in Southeast Asia, without breaching restrictions.
The United States introduced export restrictions in 2022, citing security concerns about Chinese companies accessing advanced AI hardware. ByteDance has denied any ties to the Chinese government, countering allegations raised by US lawmakers. Meanwhile, the restrictions have drawn warnings from Chinese industry bodies about over-reliance on US technology, a scenario that could also affect companies like Nvidia and AMD.
US President-elect Donald Trump is advocating for a delay in the January 19 TikTok ban deadline. He hopes for more time to pursue a political solution that avoids disruption to TikTok’s 170 million US users. Legal challenges filed by ByteDance against the ban, which it argues infringes free speech, have so far failed to yield results.
The Supreme Court is set to hear arguments on the matter on January 10, marking a final chance for ByteDance, TikTok, and US authorities to present their cases. Trump recently met TikTok CEO Shou Zi Chew, describing the platform as holding a ‘warm spot’ in his heart. However, over 20 state attorneys general and the Justice Department have labelled the app a national security risk, urging the court to uphold the ban.
Chinese hackers have been accused of infiltrating the US Treasury Department in a significant cyber attack. The breach, described as a ‘major incident’, allowed attackers to access employee workstations and unclassified documents, raising concerns over national security. The intrusion reportedly involved a third-party service provider’s compromised security key.
Officials confirmed that BeyondTrust, the affected service provider, had been taken offline. Investigations suggest a China-based Advanced Persistent Threat group was responsible. The Treasury has since partnered with the FBI and other agencies to assess the damage, while third-party forensic investigators are analysing the breach’s full impact.
China’s foreign ministry dismissed the allegations as baseless, reiterating its opposition to hacking. Accusations of Chinese cyber espionage have become more frequent, with recent incidents involving critical infrastructure and telecom companies. Officials claim the Treasury hack sought information rather than financial theft.
The incident comes amidst heightened scrutiny of Chinese cyber activities, with two prominent hacking groups linked to espionage and potential disruption campaigns. A supplemental report on the Treasury breach is expected within 30 days, as investigators continue their inquiries.
AT&T and Verizon have confirmed cyberattacks linked to a Chinese hacking group known as “Salt Typhoon,” but assured the public on Saturday that their US networks are now secure. Both companies acknowledged the breaches for the first time, stating they are cooperating with law enforcement and government agencies to address the threat. AT&T disclosed that the attackers targeted a small group of individuals tied to foreign intelligence, while Verizon emphasised that the activities have been contained following extensive remediation efforts.
The attacks, described by US officials as the most extensive telecommunications hack in the nation’s history, reportedly allowed Salt Typhoon operatives to access sensitive network systems, including the ability to geolocate individuals and record phone calls. Authorities have linked the breaches to several telecom firms, with a total of nine entities now confirmed as compromised. In response, the Cybersecurity and Infrastructure Security Agency has urged government officials to transition to encrypted communication methods.
US Senators, including Democrat Ben Ray Luján and Republican Ted Cruz, have expressed alarm over the breach’s scale, calling for stronger safeguards against future intrusions. Meanwhile, Chinese officials have denied the accusations, dismissing them as disinformation and reaffirming their opposition to cyberattacks. Despite assurances from the companies and independent cybersecurity experts, questions remain about how long it will take to fully restore public confidence in the nation’s telecommunications security.
President-elect Donald Trump has called on the US Supreme Court to postpone implementing a law that would ban TikTok or force its sale, arguing for time to seek a political resolution after taking office. The court will hear arguments on the case on 10 January, ahead of a 19 January deadline for TikTok’s Chinese owner, ByteDance, to sell the app or face a US ban.
The move marks a stark shift for Trump, who previously sought to block TikTok in 2020 over national security concerns tied to its Chinese ownership. Trump’s legal team emphasised that his request does not take a stance on the law’s merits but seeks to allow his incoming administration to explore alternatives. Trump has expressed a newfound appreciation for TikTok, citing its role in boosting his campaign visibility.
TikTok, with over 170 million US users, continues to challenge the legislation, asserting that its data and operations affecting US users are fully managed within the country. However, national security concerns persist, with the Justice Department and a coalition of attorneys general urging the Supreme Court to uphold the divest-or-ban mandate. The case highlights the growing debate between free speech advocates and national security interests in regulating digital platforms.
US strategies to maintain technological leadership over China include a combination of the CHIPS and Science Act and export controls. Secretary of Commerce Gina Raimondo recently underscored the importance of technological innovation over solely blocking China’s advancements, suggesting that maintaining a competitive edge is essential. The CHIPS Act aims to strengthen the US’s economic security, while export controls are designed to protect critical intellectual property.
Combining these policies may be the most effective way to sustain US leadership. Export controls serve to slow China’s technological progress, complementing the domestic benefits of the CHIPS Act. However, ensuring the effectiveness of export controls demands close coordination with supply chain partners. Non-compliance by any party in the supply chain can compromise these efforts.
Expanding export controls beyond advanced technologies to mature processes presents a significant challenge. Managing compliance across numerous companies and countries raises costs and logistical complexity. Additionally, aligning with countries that share economic interests can reduce these difficulties. Collaborative efforts with strategic partners ensure export controls remain effective and sustainable.
The potential relocation of production from Taiwan to mitigate instability in the Taiwan Strait poses another challenge. Working with regions that complement US production goals, rather than those with conflicting interests, will be critical to achieving long-term success in export control implementation.
Google is introducing major updates to its Maps Timeline feature, shifting towards enhanced privacy by storing location history locally on users’ devices. This change means that any unbacked location history data will be automatically deleted after three months unless users take action to save it. Notifications regarding the update will provide a six-month window to back up data, urging users to preserve personal memories or valuable travel records before permanent deletion.
To save Timeline data, users can utilise Google’s export tools on their devices or through the web. This process allows users to maintain access to their past location history while ensuring it remains private and under their control. However, some users have reported unexpected deletions, emphasising the importance of regular backups to avoid data loss.
These updates are part of the US-based tech giant’s broader efforts to address privacy concerns by limiting the storage of sensitive data on its servers. While this move enhances data security, users are encouraged to take proactive steps to back up important information, explore privacy features like incognito mode, and consider additional tools such as VPNs to protect their online activity.
Apple has requested to participate in the US antitrust trial against Google, arguing it cannot trust Google to safeguard their shared revenue agreements. These agreements make Google the default search engine on Apple’s Safari browser, generating an estimated $20 billion for Apple in 2022. Despite this lucrative partnership, Apple confirmed it has no plans to develop its search engine, regardless of the trial’s outcome.
The Department of Justice’s case against Google is a pivotal effort to curb the tech giant’s dominance in online search. Prosecutors allege that Google’s practices stifle competition and may push for drastic measures such as divesting its Chrome browser or Android operating system. Apple, aiming to protect its financial interests, plans to present witnesses in the April trial.
While Google has proposed easing its default agreements with browser developers and device manufacturers, it has resisted ending its ad revenue-sharing deals. Apple criticised Google’s ability to represent its interests as the trial escalated into a broader challenge to Google’s business model. A Google spokesperson declined to comment on the case.
