Cheddar's Crypto Craze explores the latest movements in this emerging market. Anchors Hope King and Brad Smith talk about the latest crackdown by regulators, plus how one entrepreneur is tapping into the luxury market.
The SEC issued dozens of subpoenas to investigate initial coin offerings. Fortune Senior Writer Jen Wieczner explains what this crackdown means for the cryptocurrency market.
"This is something that is on everyone's mind," says Wieczner. "I think its going to be largely a good thing. People in the ICO space say this is going to give them some clarity."
Wieczner says ultimately this crackdown can weed out bad actors in this emerging market.
A new player in the cryptocurrency space is looking to build an ecosystem around this emerging market. Hodl.vc Founder and Managing Partner Ivan Soto-Wright explains how this company is tapping into the luxury market.
"We are thinking how do we actually make a lasting impact on the space," says Soto-Wright. Hodl.vc has founded three key products: Moon Assets, Apollo, and Eltcoin.
Moon Assets launched in December 2017 as an e-commerce platform that enables people to buy luxury cars through Bitcoin. "For us it was an experiment and it turned into much more," said Soto-Wright. The platform now brokers Lamborghinis through Bitcoin, with plans to launch new verticals in the future.
Plus, Brad Smith checked out an ATM at the Bitcoin Center in New York City.
Phoebe Gates and Sophia Kianni introduce Phia, a fashion tech startup that helps users find price comparisons and discover alternative options for apparel
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Microsoft says users of its Azure cloud portal may be not be able to access Office 365, Minecraft or other services due to issues with its global content delivery network services. The tech company posted a note to its Azure status page that its teams are currently deploying a fix to address the outage.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
A new poll finds that as the United States rapidly builds massive data centers for the development of artificial intelligence, many Americans are concerned about the environmental impact.
