Tag Archives: author_name|Danny Gallagher

FTX advisor and Alameda CEO Caroline Ellison gets two years in prison

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A US district court judge sentenced Caroline Ellison, the former advisor and ex-girlfriend to the convicted crypto fraudster and FTX founder Sam Bankman-Fried, to two years in prison.

The New York Times reported Ellison’s sentence for her role in the $8 billion in fraud committed by the FTX crypto exchange that sent Bankman-Fried to federal prison for 25 years back in March. Ellison will also have to serve three years of supervised release once she’s finished her prison sentence.

Ellison pled guilty at the end of 2022 to seven counts of fraud just as Bankman-Fried was being extradited to the US from the Bahamas. US Securities and Exchange Commission (SEC) Director of Enforcement Sanjay Wadhwa said following Ellison’s plea that she and Wang “were active participants in a scheme to conceal material information from FTX investors.”

Ellison was also the former chief executive officer of FTX’s sister company Alameda Research. Prosecutors said she diverted FTX customers’ funds onto Alameda’s books to hide risks from their clients. Ellison testified against Bankman-Fried, making her a key witness in his criminal fraud trial.

Prosecutors also got Bankman-Friend’s house arrest and bail revoked when a judge determined the FTX founder tried to hinder Ellison’s testimony last year. Bankman-Fried tried to message FTX’s general counsel on Signal and email in 2023 to influence Ellison’s testimony who was only identified as “Witness-1.”

Nine months later, Bankman-Fried showed a New York Times reporter personal writings from Ellison that prosecutors said were an attempt to damage her reputation especially amongst prospective jurors. The judge agreed both instances merited Bankman-Fried’s arrest and jailing while he awaited trial. Bankman-Fried is currently serving his 25-year sentence in a federal prison in Brooklyn awaiting appeal for his conviction.

Ellison issued a statement before her sentence apologizing for her crimes to the people she and her former firm defrauded. Prosecutors did not issue a recommended sentence and characterized her cooperation with investigators as “exemplary” in a memo to the judge.

“Not a day goes by that I don’t think of the people I hurt,” Ellison said in court. “I am deeply ashamed of what I have done.”

This article originally appeared on Engadget at https://www.engadget.com/big-tech/ftx-advisor-and-alameda-ceo-caroline-ellison-gets-two-years-in-prison-214828333.html?src=rss

Visa slapped with a DOJ antitrust lawsuit

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The Department of Justice (DOJ) filed an antitrust lawsuit against Visa. The lawsuit alleges that the financial firm holds a monopoly over debit network markets allowing it to charge banks and markets with exorbitant fees that get passed onto consumers and keep rival companies like PayPal and Square from competing on their level.

Bloomberg first reported on Monday that the DOJ planned to file an antitrust suit against Visa following a multiyear investigation into Visa’s business practices starting in 2020. Visa attempted to acquire the fintech startup Plaid with a $5.3 billion bid but the DOJ filed a lawsuit blocking the deal claiming the acquisition would eliminate a competitive threat that challenged Visa’s powerful control of debit markets.

Visa dropped the bid a year later to avoid any further legal entanglements but the DOJ continued investigating Visa’s business practices.

The DOJ alleges in its latest lawsuit that Visa’s “web of exclusionary agreements” with banks and businesses helped strengthen its market dominance and “smother” any potential competitors. Attorney General Merrick Garland said in a statement that Visa “unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market.

“Merchants and banks pass along those costs to customers, either by raising prices or reducing quality or service,” the statement reads. “As a result, Visa’s unlawful conduct affects not just the price of one thing — but the price of nearly everything.”

Visa's General Counsel Julie Rottenberg told Engadget in an emailed statement that the DOJ's lawsuit is "meritless" and that they plan to vigorously defend themselves in court. 

"Today's lawsuit ignores the reality that Visa is just one of many competitors in a debit space that is growing, with entrants who are thriving," Rottenberg said by email. "When businesses and consumers choose Visa, it is because of our secure and reliable network, world-class fraud protection, and the value we provide. We are proud of the payments network we have built, the innovation we advance, and the economic opportunity we enable."

This article originally appeared on Engadget at https://www.engadget.com/big-tech/visa-slapped-with-a-doj-antitrust-lawsuit-204710873.html?src=rss

Visa slapped with a DOJ antitrust lawsuit

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The Department of Justice (DOJ) filed an antitrust lawsuit against Visa. The lawsuit alleges that the financial firm holds a monopoly over debit network markets allowing it to charge banks and markets with exorbitant fees that get passed onto consumers and keep rival companies like PayPal and Square from competing on their level.

Bloomberg first reported on Monday that the DOJ planned to file an antitrust suit against Visa following a multiyear investigation into Visa’s business practices starting in 2020. Visa attempted to acquire the fintech startup Plaid with a $5.3 billion bid but the DOJ filed a lawsuit blocking the deal claiming the acquisition would eliminate a competitive threat that challenged Visa’s powerful control of debit markets.

Visa dropped the bid a year later to avoid any further legal entanglements but the DOJ continued investigating Visa’s business practices.

The DOJ alleges in its latest lawsuit that Visa’s “web of exclusionary agreements” with banks and businesses helped strengthen its market dominance and “smother” any potential competitors. Attorney General Merrick Garland said in a statement that Visa “unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market.

“Merchants and banks pass along those costs to customers, either by raising prices or reducing quality or service,” the statement reads. “As a result, Visa’s unlawful conduct affects not just the price of one thing — but the price of nearly everything.”

Visa's General Counsel Julie Rottenberg told Engadget in an emailed statement that the DOJ's lawsuit is "meritless" and that they plan to vigorously defend themselves in court. 

"Today's lawsuit ignores the reality that Visa is just one of many competitors in a debit space that is growing, with entrants who are thriving," Rottenberg said by email. "When businesses and consumers choose Visa, it is because of our secure and reliable network, world-class fraud protection, and the value we provide. We are proud of the payments network we have built, the innovation we advance, and the economic opportunity we enable."

This article originally appeared on Engadget at https://www.engadget.com/big-tech/visa-slapped-with-a-doj-antitrust-lawsuit-204710873.html?src=rss

The Google Photos video editor is getting AI, because of course it is

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Google added some new features and updates to the video editor in Google Photos for Android and iOS users, according to the app's support page.

The biggest update brings new “AI-powered video presets” to both versions of the app. These new presets automatically trim the length of videos, adjust the lighting, change the speed and apply new effects with just a few clicks. Some of the AI-powered effects allow motion tracking, automatic zoom and slow-motion. The new “presets” tab is located underneath the video timeline.

This isn’t the first AI feature added to the Google Photos app. Last May, Google added its “Ask Photos” feature, a Gemini-powered AI chatbot that allowed for more detailed and conversational photo searches for US users.

Google also tweaked and added some Android-specific features. The new trim tool has improved controls for more precise cuts. There’s also a new “auto enhance” feature that can automatically improve the colors and stabilize videos, and a new “speed” tool that can ramp up or slow down the action.

The new features start rolling out today.

This article originally appeared on Engadget at https://www.engadget.com/mobile/the-google-photos-video-editor-is-getting-ai-because-of-course-it-is-180958935.html?src=rss

X is nerfing the block button: Blocked users will be able to see your posts

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The days of the “@[insert username] blocked you” page appear to be over. X owner Elon Musk announced a new change to the platform’s blocking feature allowing blocked users to see posts of the accounts that blocked them.

Blocked accounts still won’t be able to interact with those accounts but they’ll be able to see their posts. A source from X told The Verge the new blocked access feature is being implemented because users can already see and interact with accounts that have blocked them by switching to a non-blocked account.

Musk has wanted to disable the block feature on X for awhile now. More than a year ago, he first expressed his disdain for blocking on X (or technically, Twitter) except for direct messages. He wrote that blocking would become “deleted as a ‘feature’” as well as saying “It makes no sense.”

Last May, X’s Engineering account announced it would implement the blocked viewer change to the platform without including a solid implementation or rollout date. The post said the change would be implemented to give users with blocked accounts the ability to “identify and report any potential bad content that you previously could not view.”

This article originally appeared on Engadget at https://www.engadget.com/social-media/x-is-nerfing-the-block-button-blocked-users-will-be-able-to-see-your-posts-214928396.html?src=rss

Concord’s disastrous launch reportedly leads to its director’s self-demotion

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The ripples from Concord’s seismic implosion are still fanning out since Sony decided to take the game offline earlier this month. Now, the game’s director has reportedly decided to bow out gracefully. Kotaku reported that game director Ryan Ellis of Firewalk Studios told staff members that he’s stepping down from his position. Ellis, who cofounded Firewalk after a stint as the creative director of Destiny 2, will remain with the studio but only in a support role.

Meanwhile, the staff at Firewalk are still waiting to hear what Sony plans to do with their underperforming game. Just two weeks after Concord’s release, Sony pulled the team shooter offline on September 6 and issued refunds to everyone who bought the game for the PlayStation 5 or PC from Steam and the Epic Games Store. Sony said in a statement that it pulled the game in order to “explore options, including those that will better reach our players.” Naturally, Kotaku reports that a lot of Firewalk’s staffers are worried about the status of their jobs in the wake of Concord’s disappointing release.

The extremely poor sales of Concord make it one of the biggest bombs in industry history. Analysts estimate that it only sold 25,000 copies on Steam and for PS5 in its first six days.

This article originally appeared on Engadget at https://www.engadget.com/gaming/playstation/concords-disastrous-launch-reportedly-leads-to-its-directors-self-demotion-215515013.html?src=rss

Black Mirror season 7 cast revealed in a cryptic computer message

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Get ready to question humanity’s control over the technology that surrounds us because another season of Netflix’s Black Mirror is in the works. Earlier today, the official Black Mirror X page revealed the cast of the new season coming next year along with some other interesting clues and Easter eggs.

The video features an old, flickering computer screen that appears to unload a complete data dump of the entire cast for season 7. Some of the names that jumped out at us includes Oscar nominee Paul Giamatti, Doctor Who star and Oscar winner Peter Capaldi (he won in 1995 with his live action short film Franz Kafka’s It’s a Wonderful Life), Awkwafina, Issa Rae, Tracee Ellis Ross and Rashida Jones. 

The list also included some of the cast who played virtual crew members of the USS Callister from the iconic fourth season episode of the same name. The names from the USS Callister episode that appeared on the list include Cristin Milioti, Jimmi Simpson, Billy Magnussen, Milanka Brooks and Osy Ikhile.

We’ve known for a while now that series creator Charlie Brooker has been planning to revisit the crew of the USS Callister. The season 4 opening episode starred Jesse Plemmons as the chief technology officer named Robert of a top tier game studio and a big fan of a Star Trek-esque TV show called Space Fleet. By day, he gets pushed around and little credit for the company’s success from his colleagues and staff. He uses immersive virtual reality technology to play as Space Fleet Capt. Robert Daly away from work on a virtual starship and takes out his frustrations and anger on the crew in increasingly cruel and inhumane ways. The crew members were replicated in the game using his boss and staff members’ DNA that Robert obtained without their permission or knowledge. The crew revolt and escape to the open Internet while leaving a seething “Capt. Robert” stranded in the game.

Of course, this wouldn’t be a true Black Mirror reveal if it didn’t contain some clues and hidden items in the teaser. The loading screen features the studio name Tuckersoft, a reference to the game studio in the interactive “Bandersnatch” movie. The cast names are listed in alphabetical order by first name but they’ve been broken into eight groups. There are some cryptic phrases between the scrolling group names like “Too soon?”, “A rose for a rose” and “Shields 58 percent.”

Could these be episode titles? The latter definitely sounds like a reference to the USS Callister and Brooker and company love symbolic episode titles taken from songs for their tech hell stories like “Shut Up and Dance” and “Hang the DJ.” The new Black Mirror episodes haven’t even landed yet and they’ve already screwing with our heads.

This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/black-mirror-season-7-cast-revealed-in-a-cryptic-computer-message-203343148.html?src=rss

YouTube is now showing ads when you pause videos

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Google has found another way to turn your eyeballs into money: by turning paused YouTube videos into a new real estate for ads. A YouTube communications manager told The Verge they’ve seen “strong advertiser and strong reviewer responses” since they “rolled out Pause ads to all advertisers.”

YouTube first started looking at using ads on pause screens in 2023 with select advertisers. Google’s chief business officer Phillip Schindler announced last April that advertisers loved the new ad concept. YouTube’s viewers aren’t as enthusiastic about the idea.

Reddit users posted screenshots of the new pause screen ads and to say they aren’t happy with the ads is the understatement of the year.

The new ads aren’t just showing up on the website. Ads also pop up when you pause videos on the YouTube mobile app, according to others on the site.

Pause screen ads are not a new concept. Streaming services like AT&T’s DirecTV and Hulu show ads when the screen is paused if you have one of the lower tier subscription plans. Some Amazon products like the Fire tablets also show ads on the lock screen and Amazon announced last May that it plans to expand its ad space offerings for living-room devices, according to Amazon’s official blog.

This article originally appeared on Engadget at https://www.engadget.com/entertainment/youtube/youtube-is-now-showing-ads-when-you-pause-videos-193622495.html?src=rss

Get a good gawp at Ghostface’s fatality and some new animalities for MK1

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A new update for Mortal Kombat I (MK1) is less than a week away from release that will add new character skins, new finishing moves and (eventually) new fighters to its “kombatant” selection screen. NetherRealm Studios released a preview of the “karnage” that’s “koming” around the “korner” (OK, we’ll stop with the unnecessary K’s).

The new trailer released on Mortal Kombat creator Ed Boon’s X page shows some of the new stuff MK1 players can expect from the Khaos Reigns pack scheduled for release on September 24 and future updates. The base game costs $49.99 for the PlayStation 5, Xbox Series X|S and PC on Steam and $39.99 on the Nintendo Switch. The Khaos Reigns DLC costs (gasp!) $49.99 for the PS5, Xbox Series X|S and PC on Steam and $39.99 for the Nintendo Switch The Khaos Reigns Kollection bundle that includes the Khaos pack and base game will set you back $89.99 for the PS5 and Xbox Series X|S or $69.99 for the Nintendo Switch.

The MK1 add-on adds a brand new story mode to the game in which the newly apotheosized Liu Kang battles the evil Titan Havik with his band of fighters and EarthRealm defenders. The new pack also comes with the “Kombat Pack 2” of new fighters available on the release day including the cyborgs Cyrax and Sektor and the shadow assassin Noob Saibot.

The pack will also provide access to Ghostface from the Scream movies, the T-1000 voiced by Robert Patrick and Conan the Barbarian once they are released. If you can’t wait for a release date or you just don’t like watching whole trailers for one moment, footage of one of Ghostface’s fatalities found its way to X. The video shows the infamous Scream villain eviscerating an opponent with the help of another Ghostface killer, a loving nod to Scream VI starring Jenna Ortega and Hayden Panettiere.

MK1 is also bringing back an old favorite finisher known as “animalities” that first appeared in the Mortal Kombat 3 arcade game. Every fighter in the game has a finishing move where they turn into an animal and vivisect their opponent in a number of creative ways. Boon shared a clip of Kitana’s animality in which she transforms into a giant, bloodthirsty hummingbird and turns her opponent into a bloody flesh flower.

This article originally appeared on Engadget at https://www.engadget.com/gaming/get-a-good-gawp-at-ghostfaces-fatality-and-some-new-animalities-for-mk1-233038696.html?src=rss

Battletoads/Double Dragon headbutts its way onto Nintendo’s Switch Online library

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If you grew up in the age of the NES and SNES consoles, you might be positively giddy to learn that one of the greatest video game crossovers since Marvel vs Capcom is available on the Nintendo Switch.

Nintendo announced the addition of four new SNES titles to its Switch Online service including the 1993 beat ‘em up Battletoads/Double Dragon. This rare meeting of mayhem between the fly-gulping trio and the martial arts duo Billy and Jimmy Lee takes players through both games’ universes as they plow through unique waves of fist-flinging enemies.

The crossover begins when the Evil Queen from the Battletoads’ universe cuts a deal with the Shadow Boss from the Double Dragon universe on Earth. She sends a massive ship called the Colossus to take over our planet so Zitz, Rash and Pimple pick up the Double Dragons with the Battlecopter and intercept the ship to stop it from reaching Earth. The game features seven levels that take place on the Colossus and on Earth as the Battletoads and Double Dragons smash, kick and ram enemies and bosses from both video game franchises.

The latest Switch Online game update also brings three more SNES games to the Nintendo Switch. The update includes the Tetris-inspired Cosmo Gang The Puzzle, the Jaleco rally racer Big Run and the Super Famicon port of Kunio-kun no Dodgeball da yo Zen'in Shūgō! (It's Kunio's Dodgeball, Assemble Everyone!).

This article originally appeared on Engadget at https://www.engadget.com/gaming/nintendo/battletoadsdouble-dragon-headbutts-its-way-onto-nintendos-switch-online-library-193034766.html?src=rss