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President Trump Blocks Broadcom-Qualcomm Deal Through an Executive Order

US President Donald Trump blocked the potentially-$117 billion Broadcom-Qualcomm merger through an executive order. The White House considered damning observations by the Committee on Foreign Investment in the United States (CFIUS), which had been studying potential national security implications of this merger. "There is credible evidence that leads me to believe that Broadcom Ltd. [by acquiring Qualcomm] might take action that threatens to impair the national security of the United States," wrote President Trump in the order.

Broadcom expressed shock and disbelief over the order. The company, in a statement, said that it "strongly disagrees that its proposed acquisition of Qualcomm raises any national security concerns." Qualcomm, meanwhile, battened down the hatches for any press comments. The American chipmaker had been wrestling an increasingly Broadcom-slanted board that was all but ready to sell the company to Broadcom at an undervalued price. According to data compiled by Bloomberg, the Trump administration has shot down ten similar deals since it came to power, in which foreign companies - overwhelmingly Chinese in national origin - had attempted buy out American high-technology firms. Californian Intel is still in the foray to swallow Broadcom, as CFIUS doesn't concern itself with American companies buying out foreign firms.

Bitcoin's Lack of Wallet Privacy Leads Criminals to Look Towards Other Cryptos

"It is used for criminal, illegal activities" is one of the most oft-mentioned reasons for users to reject Bitcoin or other cryptocurrencies. However, it seems that this argument is losing weight as we speak when it comes to Bitcoin. In the wake of much increased interest and awareness regarding the fledgling, currently leading cryptocurrency, which has seen institutions and states renew their interest and attention towards regulation or stricter control of the virtual currency, users that would use Bitcoin for nefarious purposes have started to migrate to other cryptocurrencies. You see, the reality of a distributed, transparent ledger is great for a system's transparency; however, transparency and easily identifiable - and traceable - wallets and transactions go against criminals' interests. Law enforcement agencies, such as Europol, have already issued warnings and established protocols towards the adoption of software tools to monitor people using bitcoin. As such, criminals are looking towards other less "transparent" cryptos to use as escape routes for their criminal ways.

The most viable alternative for criminals has apparently been Monero, the cryptocurrency that has also been in the world's mouth because it's usually the one being mined in web browsers, absent of users' consent. Monero has been developed with privacy as a main design criteria from the start, encrypting the recipient's address on its blockchain and generating fake addresses, obfuscating the real sender, but going one step further by also obfuscating the amount of the transaction. This means Monero is currently "one of the favorites, if not the favorite" for usage in ransomware attacks, said Matt Suiche, founder of Dubai-based security firm Comae Technologies, said in a phone interview to Bloomberg.

Kaspersky Lab Accused of Close Links to FSB, Removed From USG's GSA Listing

Yesterday, Bloomberg ran a story entitled "Kaspersky Lab Has Been Working With Russian Intelligence", in which the editors said that "Emails show the security-software maker developed products for the FSB and accompanied agents on raids." Eugene Kaspersky, Kaspersky CEO, naturally responded by saying that claims about Kaspersky Lab's ties to the Kremlin are "unfounded conspiracy theories" and "total BS." Bloomberg Businessweek even goes so far as to say that Kaspersky Lab has "maintained a much closer working relationship with Russia's main intelligence agency, the FSB, than it has publicly admitted. It has developed security technology at the spy agency's behest and worked on joint projects the CEO knew would be embarrassing if made public."

In the same article, Bloomberg's editors go on to say that "The U.S. government hasn't identified any evidence connecting Kaspersky Lab to Russia's spy agencies (...) In June, FBI agents visited a number of the company's U.S. employees at their homes, asking to whom they reported and how much guidance they received from Kaspersky's Moscow headquarters. And a bill was introduced in Congress that would ban the U.S. military from using any Kaspersky products (...)", with one senator calling ties between the company and the Kremlin "very alarming."
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May 15th, 2024 19:28 EDT change timezone

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