ProPublica reports that federal cybersecurity reviewers had serious, yearslong concerns about Microsoft's GCC High cloud offering, yet they approved it anyway because the product was already deeply embedded across government. As one member of the team put it: "The package is a pile of shit." From the report: In late 2024, the federal government's cybersecurity evaluators rendered a troubling verdict on one of Microsoft's biggest cloud computing offerings. The tech giant's "lack of proper detailed security documentation" left reviewers with a "lack of confidence in assessing the system's overall security posture," according to an internal government report reviewed by ProPublica. For years, reviewers said, Microsoft had tried and failed to fully explain how it protects sensitive information in the cloud as it hops from server to server across the digital terrain. Given that and other unknowns, government experts couldn't vouch for the technology's security.

Such judgments would be damning for any company seeking to sell its wares to the U.S. government, but it should have been particularly devastating for Microsoft. The tech giant's products had been at the heart of two major cybersecurity attacks against the U.S. in three years. In one, Russian hackers exploited a weakness to steal sensitive data from a number of federal agencies, including the National Nuclear Security Administration. In the other, Chinese hackers infiltrated the email accounts of a Cabinet member and other senior government officials. The federal government could be further exposed if it couldn't verify the cybersecurity of Microsoft's Government Community Cloud High, a suite of cloud-based services intended to safeguard some of the nation's most sensitive information.

Yet, in a highly unusual move that still reverberates across Washington, the Federal Risk and Authorization Management Program, or FedRAMP, authorized the product anyway, bestowing what amounts to the federal government's cybersecurity seal of approval. FedRAMP's ruling -- which included a kind of "buyer beware" notice to any federal agency considering GCC High -- helped Microsoft expand a government business empire worth billions of dollars. "BOOM SHAKA LAKA," Richard Wakeman, one of the company's chief security architects, boasted in an online forum, celebrating the milestone with a meme of Leonardo DiCaprio in "The Wolf of Wall Street."

It was not the type of outcome that federal policymakers envisioned a decade and a half ago when they embraced the cloud revolution and created FedRAMP to help safeguard the government's cybersecurity. The program's layers of review, which included an assessment by outside experts, were supposed to ensure that service providers like Microsoft could be entrusted with the government's secrets. But ProPublica's investigation -- drawn from internal FedRAMP memos, logs, emails, meeting minutes, and interviews with seven former and current government employees and contractors -- found breakdowns at every juncture of that process. It also found a remarkable deference to Microsoft, even as the company's products and practices were central to two of the most damaging cyberattacks ever carried out against the government.

An anonymous reader quotes a report from 404 Media, written by Jason Koebler: Over the last few months, various academics and AI companies have attempted to predict how artificial intelligence is going to impact the labor market. These studies, including a high-profile paper published by Anthropic earlier this month, largely try to take the things AI is good at, or could be good at, and match them to existing job categories and job tasks. But the papers ignore some of the most impactful and most common uses of AI today: AI porn and AI slop.

Anthropic's paper, called "Labor market impacts of AI: A new measure and early evidence," essentially attempts to find 1:1 correlations between tasks that people do today at their jobs and things people are using Claude for. The researchers also try to predict if a job's tasks "are theoretically possible with AI," which resulted in this chart, which has gone somewhat viral and was included in a newsletter by MSNOW's Phillip Bump and threaded about by tech journalist Christopher Mims. (Because everything is terrible, the research is now also feeding into a gambling website where you can see the apparent odds of having your job replaced by AI.) In his thread, Mims makes the case that the "theoretical capability" of AI to do different jobs in different sectors is totally made up, and that this chart basically means nothing. Mims makes a good and fair observation: The nature of the many, many studies that attempt to predict which people are going to lose their jobs to AI are all flawed because the inputs must be guessed, to some degree.

But I believe most of these studies are flawed in a deeper way: They do not take into account how people are actually using AI, though Anthropic claims that that is exactly what it is doing. "We introduce a new measure of AI displacement risk, observed exposure, that combines theoretical LLM capability and real-world usage data, weighting automated (rather than augmentative) and work-related uses more heavily," the researchers write. This is based in part on the "Anthropic Economic Index," which was introduced in an extremely long paper published in January that tries to catalog all the high-minded uses of AI in specific work-related contexts. These uses include "Complete humanities and social science academic assignments across multiple disciplines," "Draft and revise professional workplace correspondence and business communications," and "Build, debug, and customize web applications and websites." Not included in any of Anthropic's research are extremely popular uses of AI such as "create AI porn" and "create AI slop and spam." These uses are destroying discoverability on the internet, cause cascading societal and economic harms. "Anthropic's research continues a time-honored tradition by AI companies who want to highlight the 'good' uses of AI that show up in their marketing materials while ignoring the world-destroying applications that people actually use it for," argues Koebler. "Meanwhile, as we have repeatedly shown, huge parts of social media websites and Google search results have been overtaken by AI slop. Chatbots themselves have killed traffic to lots of websites that were once able to rely on ad revenue to employ people, so on and so forth..."

"This is all to say that these studies about the economic impacts of AI are ignoring a hugely important piece of context: AI is eating and breaking the internet and social media," writes Koebler, in closing. "We are moving from a many-to-many publishing environment that created untold millions of jobs and businesses towards a system where AI tools can easily overwhelm human-created websites, businesses, art, writing, videos, and human activity on the internet. What's happening may be too chaotic, messy, and unpleasant for AI companies to want to reckon with, but to ignore it entirely is malpractice."

Arizona has filed criminal charges against Kalshi, accusing it of operating an illegal gambling business. "Kalshi may brand itself as a 'prediction market,' but what it's actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law," Arizona Attorney General Kris Mayes said in a statement. The case could ultimately head to the Supreme Court to decide whether federal oversight by the Commodity Futures Trading Commission overrides state gambling laws. Bloomberg reports: While state regulators have taken steps to crack down on what they say is unlicensed betting on Kalshi's site, Arizona appears to be the first state to escalate to criminal charges. The charges cited in the complaint are misdemeanors, which carry less serious penalties than felonies. [...] Prediction market exchanges like Kalshi have said they should continue to be regulated by the US Commodity Futures Trading Commission despite opposition from some state officials, who argue the trading should come under state gambling laws.

Arizona's criminal complaint follows Kalshi's move last week to block the state's gaming department from taking enforcement action against the company. "These are the first criminal charges of any kind filed against Kalshi in any court in the United States, but it will likely be the first of several," said Daniel Wallach, a sports and gaming attorney.

An anonymous reader quotes a report from the Wall Street Journal: A battle of insults and threats has broken out between the tech world and Wall Street. What's got everyone so worked up? The same thing that starts most fights: business software. A series of social-media posts went viral in recent days with claims that AI has created a worthy -- and way cheaper -- alternative to the Bloomberg terminal, a computer system that is like oxygen to professional investors. Now "Bloomberg is cooked," some posters argued as they heralded the arrival of a newly released AI tool from startup Perplexity. [...]

The finance bros who worship at the altar of Bloomberg have declared war on the tech evangelists who have put all their faith in AI. To suggest that the terminal is replaceable is "laughable," said Jason Lemire, who jumped into the conversation on LinkedIn. (Ironically or not, his post also included an AI-generated image of churchgoers praying to the Bloomberg terminal). "It seems quite obvious to me that those propagating that post are either just looking for easy engagement and/or have never worked in a serious financial institution," he wrote. [...] Morgan Linton, the co-founder and CTO of AI startup Bold Metrics and an avid Perplexity Computer user, said it's rare for a single AI prompt to generate anything close to what Bloomberg does. That said, he added that tools like this can lay "a really good foundation for a financial application. And that really has not been possible before."

Others aren't so sure. Michael Terry, an institutional investment manager who used the terminal for more than 30 years, said he used a prompt circulating online to try to vibe code a Bloomberg replica on Anthropic's Claude. "It was laughable at best, horrific at worst," he said. Shevelenko acknowledged there are some aspects of the terminal that can't be replicated with vibe coding, including some of Bloomberg's proprietary data inputs. The live chat network, which includes 350,000 financial professionals in 184 countries, would also be hard to re-create, as well as the terminal's data security, reliability and robust support system. "I love Bloomberg. And I know most people that use Bloomberg are very, very loyal and extremely happy," said Lemire. His message to the techies? "There's nothing that you can vibe code in a weekend or even like over the course of a year that's going to come anywhere close."

An anonymous reader quotes a report from TechCrunch: Nvidia CEO Jensen Huang threw out a lot of numbers -- mostly of the technical variety -- during his keynote Monday to kick off the company's annual GTC Conference in San Jose, California. But there was one financial figure that investors surely took notice of: his projection that there will be $1 trillion worth of orders for Nvidia's Blackwell and Vera Rubin chips, a monetary reflection of a booming AI business.

About an hour into his keynote, Huang noted that last year Nvidia saw about $500 billion in demand for its Blackwell and upcoming Rubin chips through 2026. "Now, I don't know if you guys feel the same way, but $500 billion is an enormous amount of revenue," he said. "Well, I'm here to tell you that right now where I stand -- a few short months after GTC DC, one year after last GTC -- right here where I stand, I see through 2027, at least $1 trillion."

The U.S. SEC is reportedly preparing a proposal to make quarterly earnings reports optional, potentially allowing companies to report results just twice a year. "The proposal could be published as soon as next month," reports Reuters, citing a paywalled report from the Wall Street Journal, adding that "regulators are in talks with major exchanges to discuss how their rules may need to be adjusted." Reuters reports: The SEC will vote on the proposal once it is published, after a public comment period which typically lasts at least 30 days, the report said. The WSJ report added that the rule is expected to make quarterly reporting optional and not eliminate it altogether. The proposed change in the reporting standard would allow listed companies to publish results every six months instead of the current mandate to report figures every 90 days.

Trump, who first floated the idea in his first term as president, has argued the change in requirements would discourage shortsightedness from public companies while cutting costs. Skeptics, however, caution delaying disclosures could reduce transparency and heighten market volatility.

AI infrastructure company Nebius signed a deal to provide up to $27 billion in AI computing capacity to Meta over the next five years, including a guaranteed $12 billion purchase by 2027. Reuters reports: Under the agreement, Meta will also buy an additional $15 billion worth of capacity planned by Nebius over the coming five years if it is not sold to other customers, giving the contract a total value of up to $27 billion, Nebius said. The deal is the latest example of U.S. tech giants' efforts to supplement their own AI data-centre build-outs by locking in scarce GPU and power capacity from "neocloud" providers like Nebius. Nebius CEO Arkady Volozh said the latest Meta deal would help "accelerate the build-out and growth of our core AI cloud business." Further reading: Data Centers Overtake Offices In US Construction-Spending Shift

While AI CEOs worry governments might nationalize AI, others are advocating for something similar. Canadian security professional Bruce Schneier and Harvard data scientist Nathan Sanders published this call to action in Canada's most widely-read newspaper (with a readership over 6 million): "Canada Needs Nationalized, Public AI." While there are Canadian AI companies, they remain for-profit enterprises, their interests not necessarily aligned with our collective good. The only real alternative is to be bold and invest in a wholly Canadian public AI: an AI model built and funded by Canada for Canadians, as public infrastructure. This would give Canadians access to the myriad of benefits from AI without having to depend on the U.S. or other countries. It would mean Canadian universities and public agencies building and operating AI models optimized not for global scale and corporate profit, but for practical use by Canadians...

We are already on our way to having AI become an inextricable part of society. To ensure stability and prosperity for this country, Canadian users and developers must be able to turn to AI models built, controlled, and operated publicly in Canada instead of building on corporate platforms, American or otherwise... [Switzerland's funding of a public AI model, Apertus] represents precisely the paradigm shift Canada should embrace: AI as public infrastructure, like systems for transportation, water, or electricity, rather than private commodity... Public AI systems can incorporate mechanisms for genuine public input and democratic oversight on critical ethical questions: how to handle copyrighted works in training data, how to mitigate bias, how to distribute access when demand outstrips capacity, and how to license use for sensitive applications like policing or medicine...

Canada already has many of the building blocks for public AI. The country has world-class AI research institutions, including the Vector Institute, Mila, and CIFAR, which pioneered much of the deep learning revolution. Canada's $2-billion Sovereign AI Compute Strategy provides substantial funding. What's needed now is a reorientation away from viewing this as an opportunity to attract private capital, and toward a fully open public AI model.
Long-time Slashdot reader sinij has a different opinion. "To me, this sounds dystopian, because I can also imagine AI declining your permits, renewal of license, or medication due to misalignment or 'greater good' reasons."

But the Schneier/Sanders essays argues this creates "an alternative ownership structure for AI technology" that is allocating decision-making authority and value "to national public institutions rather than foreign corporations."

Plug-in (or "balcony") solar panels can also be hung out a window or be set up in a backyard, reports NPR. They channel energy from the sun straight into a home's electrical outlet, generating enough electricity to power a refrigerator or microwave while "displacing electricity that otherwise would come in from the grid..."

But what's holding up their adoption in America? For the panels to become more widely available in the U.S., state lawmakers are proposing bills that eliminate complicated utility connection agreements, which are required for larger rooftop solar installations and, most utilities say, should apply to plug-in solar too. Those agreements, along with permitting and other installation costs, can double the price of solar panels. Utah enacted the first law, last May, supporting plug-in solar, and now some 30 pieces of similar legislation have been introduced around the United States. [And Virginia seems poised to pass a similar law.]

But the drive toward plug-in solar is facing pushback from electric utilities. They are raising safety concerns and prompting legislators to delay votes on the bills. So far, utilities have won over lawmakers in five states and convinced them to delay votes on plug-in solar bills... Plug-in solar advocates say that safety concerns about the new technology have been addressed and that utilities are really just worried about losing business, because every kilowatt-hour generated by a plug-in solar panel is one less the utility sells to a customer... There are safety risks with any electrical appliance, and it's true that plug-in solar panels present some unique problems. But safety experts also say those issues can be managed....

German utilities expressed many of the same concerns nearly a decade ago when plug-in solar started to become popular in Germany. But with more than a million systems installed, no safety incidents have been reported for customers who used the panels as instructed, according to a research paper funded by the U.S. Department of Energy.

The deal to take control of TikTok's U.S. business came with an unusual condition, according to people familiar with the matter. The investors — which include Oracle, Abu Dhabi investor MGX, and private-equity firm Silver Lake — "paid the Treasury Department about $2.5 billion when the deal closed in January," reports the Wall Street Journal, "and are set to make several additional payments until hitting the $10 billion total." The $10 billion payment would be nearly unprecedented for a government helping arrange a transaction, historians have said... Investment bankers advising on a typical deal receive fees of less than 1% of the transaction value, and the percentage generally gets smaller as the deal size increases. Bank of America is in line to make some $130 million for advising railroad operator Norfolk Southern on its $71.5 billion sale to Union Pacific, one of the largest fees on record for a single bank on a deal. Administration officials have said the fee is justified given Trump's role in saving TikTok in the U.S. and navigating negotiations with China to get the deal done while addressing the security concerns of lawmakers...

The TikTok fee extracted from private-sector investors is the administration's latest transaction involving the nation's largest businesses. Trump took a nearly 10% stake in semiconductor company Intel and has agreed to take a chunk of chip sales to China from Nvidia in exchange for granting export licenses. The administration has also taken equity stakes in other companies and has a say in the operations of U.S. Steel following a "golden share" agreement with Japan's Nippon Steel in its takeover.
Reuters notes earlier this month, a lawsuit was filed by investors in two of TikTok's social media rivals, seeking to reverse the approval of the deal.

Thanks to long-time Slashdot reader schwit1 for sharing the news.

An anonymous reader quotes a report from Reuters: Meta is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters, as Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted workers. No date has been set for the cuts and the magnitude has not been finalized, the people said. Top executives have recently signaled the plans to other senior leaders at Meta and told them to begin planning how to pare back, two of the people said. If Meta settles on the 20% figure, the layoffs will be the company's most significant since a restructuring in late 2022 and early 2023 that it dubbed the "year of efficiency." It employed nearly 79,000 people as of December 31, according to its latest filing. The speculation follows a recent report from The New York Times claiming that Meta has delayed the release of its next major AI model after falling behind competing systems from Google, OpenAI, and Anthropic.

Iranian drone strikes shut down a major helium facility in Qatar, removing about 30% of global helium supply and raising concerns for the semiconductor industry, which relies on the gas for chip fabrication. "QatarEnergy declared force majeure on existing contracts on March 4, freeing it from supply obligations to customers," reports Tom's Hardware. The industry outlet Gasworld reports that no imminent restart is planned. From the report: Helium consultant Phil Kornbluth, speaking at a Gasworld webinar on March 4, said that if the outage extends beyond roughly two weeks, industrial gas distributors could be forced to relocate cryogenic equipment and revalidate supplier relationships, a process that could stretch over months regardless of when Qatari output resumes.

South Korea is among the most exposed countries, which, according to the Korea International Trade Association, imported 64.7% of its helium from Qatar in 2025. The country relies heavily on helium imports to cool silicon wafers during fabrication and is understood to have no viable substitute.

The country's Ministry of Trade, Industry and Resources has reportedly launched an investigation into supply and demand for 14 semiconductor materials and equipment types with high dependence on Middle Eastern sources, Nikkei reported on Wednesday. Bromine, which is used in circuit formation, is another big concern, with South Korea sourcing 90% of its imports from Israel, also party to the ongoing conflict in Iran.

Apple will cut its App Store commission in China from 30% to 25% starting March 15, with small-business and mini-app rates dropping from 15% to 12%. AppleInsider reports: Chinese regulators have been back and forth with Apple in recent years over the 30% App Store commission. The latest publicly known pressure occurred after President Trump slammed the country with seemingly random and outrageous tariffs in 2025. While nothing much else has happened in the public eye in the year since, Apple has announced a new commission rate via its developer blog. The new rates go into effect on March 15.

The current standard 30% rate is dropping to 25% for in-app purchases and paid app transactions. The Small Business Program and Mini Apps Partner Program will see rates drop from 15% to 12%. That lower rate applies to auto-renewals of in-app purchase subscriptions after the first year. Mini Apps are for transactions found in super apps like those popularized in China. [...] Developers will need to sign the updated terms, but the new rates are applied automatically. It is unclear if these new changes will prevent regulatory action from China.

joshuark shares a report from Reuters: Microsoft has filed an amicus brief on Tuesday in support of Anthropic's lawsuit asking the court to temporarily block the U.S. Department of Defense designation of the AI startup as a supply-chain risk. In an amicus brief filing in a federal court in San Francisco, Microsoft backed Anthropic's request for a temporary restraining order against the Pentagon order, arguing that its determination should be paused while the court considers the case. Microsoft, which integrates the AI lab's products and services into technology it provides to the U.S. military, said that it was directly impacted by the DOD designation.

"Should this action proceed without the entry of a temporary restraining order, Microsoft and other government contractors with expertise in developing solutions to support U.S. government missions will be forced to account for a new risk in their business planning," the company said. Microsoft's filing argued the TRO is needed to prevent costly disruptions for suppliers, who would otherwise have to rapidly rebuild offerings that rely on Anthropic's products. The judge overseeing the case must approve Microsoft's request to file the brief before it is officially entered, but courts often permit outside parties to weigh in on important cases.

sinij shares a report from Car and Driver: Honda is making a monumental shift in its business plans. The automaker is canceling the development and launch of the 0 Series SUV, the 0 Series saloon, and the Acura RSX, and as a result, expects to take a significant financial hit in 2026 [of up to $15.8 billion]. The automaker was blunt in its announcement of the changing plans, citing American tariff policies and the unpredictable nature surrounding American EV incentives and fossil fuel regulations. In its release marking the announcement, Honda made it clear that it expected to incur further financial losses over the long term if it went through with launching the cars.

Honda also called out changing customer values in China, with buyers focusing more on software features and less on things like fuel efficiency and cabin space. In its release regarding the changing product plans, Honda was shockingly blunt about its situation, saying that it was simply unable to deliver products that offer a better value than that of newer Chinese manufacturers.

Asian governments are implementing emergency measures like four-day workweeks and work-from-home mandates to cope with a fuel shortage triggered by the Iran conflict and the closure of the Strait of Hormuz. "Asia is particularly dependent on oil exports from the Middle East; Japan and South Korea respectively source 90% and 70% of their oil from the region," notes Fortune. From the report: On March 10, Thailand ordered civil servants to take the stairs rather than the elevator, and to work-from-home for the duration of the crisis. It increased the air-conditioning temperature to 27 degrees Celsius, and will tell government employees to wear short-sleeved shirts over suits. (Thailand has about 95 days of energy reserves left, according to Reuters).

Vietnam also called on businesses to let people work-from-home to "reduce the need for travel and transportation." The Philippines is pushing for a four-day work week, and has ordered officials to limit travel "to essential functions only."

South Asia is getting hit hard too. Bangladesh brought forward the Eid-al-fitr holiday, allowing universities to close early in a bid to save fuel. Pakistan also instituted a four-day week for government offices and closed schools. India suspended shipments of liquefied petroleum gas to commercial operators to prioritize supplies for households, leading to worries from hotels and restaurants that they may be forced to close without fuel supplies. Countries across the region are also considering price caps, subsidies, and tapping strategic oil reserves. On Wednesday, the International Energy Agency "unanimously" agreed to release 400 million barrels of oil and refined products from its reserves.

The Associated Press offers a look at the energy supplies that countries hold and when they tap them.

GFiber (a.k.a. Google Fiber) and Astound Broadband announced that they plan to merge into a deal backed by infrastructure investor Stonepeak Infrastructure Partners. The resulting company will be majority owned by Stonepeak, with Alphabet becoming a "significant minority shareholder." Light Reading reports: Stonepeak Infrastructure Partners teamed with Patriot Media to acquire Astound in November 2020 for $8.1 billion. Stonepeak is Astound's largest investor. The deal is expected to close in the fourth quarter of 2026. The combined business will be led by the existing GFiber executive team. GFiber is currently led by CEO Dinni Jain. Jain, a former Time Warner Cable and Insight Communications exec, took the helm of what was then called Google Fiber in 2018.

"This agreement advances GFiber's mission of redefining internet connectivity and represents a major step toward its goal of operational and financial independence," the companies said. "GFiber will have the external capital and strategic focus needed to accelerate its next phase of growth, expanding its customer-first approach and pioneering fiber technology across the country." GFiber's combination with Astound represents "a strategic opportunity to scale our customer-focused approach to connect more households to a truly different type of internet service," Jain said in a statement.

Grammarly has disabled its Expert Review feature after backlash from writers whose names were used to present AI-generated feedback without their permission. Superhuman (formerly Grammarly) CEO Shishir Mehrotra wrote in a LinkedIn post that the company will disable Expert Review while they "reimagine" the feature: Back in August, we launched a Grammarly agent called Expert Review. The agent draws on publicly available information from third-party LLMs to surface writing suggestions inspired by the published work of influential voices.

Over the past week, we received valid critical feedback from experts who are concerned that the agent misrepresented their voices. This kind of scrutiny improves our products, and we take it seriously. As context, the agent was designed to help users discover influential perspectives and scholarship relevant to their work, while also providing meaningful ways for experts to build deeper relationships with their fans. We hear the feedback and recognize we fell short on this. I want to apologize and acknowledge that we'll rethink our approach going forward.

After careful consideration, we have decided to disable Expert Review while we reimagine the feature to make it more useful for users, while giving experts real control over how they want to be represented -- or not represented at all.

We deeply believe in our mission to solve the "last mile of AI" by bringing AI directly to where people work, and we see this as a significant opportunity for experts. For millions of users, Grammarly is a trusted writing sidekick -- ever-present in every application, ready to help. We're opening up this platform so anyone can build agents that work like Grammarly -- expanding from one sidekick to a whole team. Imagine your professor sharpening your essay, your sales leader reshaping a customer pitch, a thoughtful critic challenging your arguments, or a leading expert elevating your proposal. For experts, this is a chance to build that same ubiquitous bond with users, much like Grammarly has. But in this world, experts choose to participate, shape how their knowledge is represented, and control their business model. That future excites me, and I hope to build it with experts who want to develop it alongside us.

An anonymous reader quotes a report from Ars Technica: Binance is hoping that suing (PDF) The Wall Street Journal for defamation might help shake off a fresh round of government probes into how the cryptocurrency exchange failed to detect $1.7 billion in transfers to a network that was funding Iran-backed terror groups. The lawsuit comes after a Wall Street Journal investigation, based on conversations with insiders and reviews of internal documents, reported that Binance had quietly dismantled its own investigation into the unlawful transfers and then fired compliance staff who initially flagged them.

Alleging that the report falsely accused Binance of retaliation -- among 10 other allegedly false claims -- Binance accused the Journal of conducting a "sham" investigation that intentionally disregarded the company's statements. That included supposedly failing to note that Binance had not closed its investigation into the unlawful transfers. Binance's role in the large-scale violation of US sanctions laws is currently being investigated by the Justice and Treasury Departments. Congress members also took notice, including Sen. Richard Blumenthal (D-Conn.), ranking member of the Senate Permanent Subcommittee on Investigations (PSI), who launched an additional inquiry. In a letter to Binance CEO Richard Teng, Blumenthal cited the Journal's report, as well as reporting from The New York Times and Fortune, while demanding that Binance explain how it managed to overlook the money-laundering for so long and why compliance staff members were fired.

In its complaint Wednesday, Binance claimed that these probes may "be just the tip of the iceberg" if the record is not corrected. The reputational harm is particularly damaging, the exchange noted, since Binance has allegedly worked hard to strengthen its compliance after reaching a settlement with the US government in 2023. In taking that plea deal, Binance admitted to violating anti-money laundering and sanctions laws and paid a $4.3 billion fine, and its founder, Changpeng Zhao, eventually pled guilty to a related charge. Since that scandal, Binance claimed that the WSJ has "made a business of maligning both the cryptocurrency industry generally and Binance specifically." That's why the Journal allegedly rushed to publish its story following a similar New York Times investigation. Alleging that the WSJ was financially motivated to publish a negative story that would get more clicks, Binance claimed the Journal provided little time to respond and then failed to make necessary corrections before and after publication.

Meta will begin charging advertisers a 2-5% "location fee" to offset digital services taxes imposed by several European countries, including the UK, France, Italy, Spain, Austria, and Turkey. Reuters reports: The fee, for image or video ads delivered on Meta platforms including WhatsApp click-to-message campaigns and marketing messages together with ads, will apply from July 1 and will also cover other government-imposed levies. "Until now, Meta has covered these additional costs. These changes are part of Meta's ongoing effort to respond to the evolving regulatory landscape and align with industry standards," the company said in the blog.

The location fees are determined by where the audience is located and not the advertisers' business location. Meta listed six countries where the fees will apply, ranging from 2% in the United Kingdom to 3% in France, Italy and Spain and 5% in Austria and Turkey.