Explainer: What are stablecoins, the asset rocking the cryptocurrency market?

Representations of cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple and Litecoin are seen in this illustration picture taken June 2, 2021. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, May 12 (Reuters) – Most cryptocurrencies have a major problem with price volatility, but one sub-category of coins is designed to maintain a … Read more

Crypto meltdown deepens as stablecoin Tether drops below dollar peg

HONG KONG/LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this … Read more

Explainer: Does the cryptocurrency crash pose a threat to the financial system?

Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/Files Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 11 (Reuters) – On Tuesday, bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market value in … Read more

Content moderator in Kenya sues Meta over working conditions

NAIROBI, May 10 (Reuters) – A former moderator working for Facebook owner Meta Platforms Inc. (FB.O) on Tuesday filed a lawsuit alleging that poor working conditions for contracted content moderators violate the Kenyan constitution. The petition, also filed against Meta’s local outsourcing company, Sama, alleges that workers who moderate Facebook posts in Kenya have been … Read more

Exclusive: Xiaomi accuses the Indian agency of threats of “physical violence” during an investigation

Xiaomi India faces Indian investigation over royalty payments Xiaomi has obtained legal redress, but accuses the agency of threats – document Company says executives threatened with ‘disastrous consequences’ – document India claims Xiaomi made overseas payments under the ‘cover of royalty’ NEW DELHI, May 7 (Reuters) – Chinese smartphone maker Xiaomi Corp 1810.HK alleged its … Read more

Internet providers end challenge to California net neutrality law

Supporter of Net Neutrality Ginger Gibson of Valley Glen, California, protests the FCC’s recent decision to repeal the program in Los Angeles, California, November 28, 2017. REUTERS/ Kyle Grillot/Files Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 4 (Reuters) – The US broadband industry ended late on Wednesday its legal challenge to … Read more

Shanghai residents turn to NFTs to save COVID lockdown and fight censorship

HONG KONG, May 4 (Reuters) – Shanghai residents are turning to blockchain to preserve memories of the city’s month-long COVID-19 lockdown, smashing videos, photos and artwork capturing their ordeal as non-fungible tokens to ensure they can be shared and avoid deletion. Unable to leave their homes for weeks at a stretch, many of the city’s … Read more

Google faces internal battle over AI research to speed up chip design

The Google app logo is seen on a smartphone in this illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register OAKLAND, Calif., May 2 (Reuters) – Alphabet Inc’s (GOOGL.O) Google said on Monday it had recently fired a senior engineering manager after colleagues, whose landmark research on artificial … Read more

China signals easing tech pressure in bid to revive economy

People wearing face masks walk past a street amid snowfall, following the outbreak of the coronavirus disease (COVID-19), at a shopping area in Beijing, China March 17, 2022. REUTERS/Tingshu Wang Join now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, April 29 (Reuters) – China on Friday signaled an easing of its crackdown on … Read more

Launch into space? Not so fast. Insurers balk at new coverage

September 1 (Reuters) – An ever-growing amount of space debris threatens satellites hovering around Earth, making insurers reluctant to offer cover to devices that transmit text, maps, video and scientific data , said industry sources. Thousands of new satellites are being launched into areas where orbital trash has been piling up since the first space … Read more