"The crypto industry's top legislative priority failed on Tuesday in spectacular fashion," reports Barron's. A procedural motion to advance the bill failed by a vote of 49 to 50, with a handful of Republicans joining all Democrats to shoot it down. The motion needed 60 yes votes to pass, and with the midterm elections looming, the Senate isn't expected to pick the bill back up this year. Among other provisions, the bill would have taken most crypto trading out of the purview of securities regulators, a key goal of firms like Coinbase Global... The vote is especially bitter for the crypto industry, which has spent hundreds of millions of dollars on lobbying and campaign expenditures over the past year to even get to this point. Crypto regulation doesn't even register among the issues voters care most about, and the industry has created massive political action committees to insert itself into the Washington agenda and strike fear into the hearts of lawmakers who might oppose them... Democrats who voted against the bill said that it needed to do more to rein in [Trump's] crypto dealings to get their support. Some GOP lawmakers also voted against the motion after pressure from community bank executives. Bankers argued that the bill needed a stronger ban on high-yield crypto accounts to protect their deposits, a contention that crypto executives and the White House said was nonsense. Concerns about the bill "intensified after President Trump disclosed he and his family had earned $1.4 billion last year from his crypto ventures," reports NPR. "The massive bill — which stretches over 600 pages — would have established the first regulations for the crypto sector in U.S. history. But opponents saw it as the industry's attempt to encode into law a set of rules they saw as far too lenient on the industry, without enough safeguards." A research note from an analyst at Compass Point Research & Trading predicts the bill is now likely tabled until at least 2030, Barron's notes. But they also report what the crypto industry could do next: [C]rypto firms will be leaning heavily on Trump's regulators at the Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury Department, all of whom have said they plan to move swiftly to implement industry friendly rules if a bill didn't pass. The SEC has already dropped all major enforcement actions against crypto firms and has begun to introduce rules that make it easier to raise money from crypto sales without running afoul of the law. The agency is also expected to implement rules making it easier to tokenize traditional assets like stocks. The friendly regulatory environment will in effect give the industry a little more than two years to sink roots into the traditional financial system and consumers' wallets. Even if the SEC took a harsh view of the industry in the future, as it did in President Joe Biden's administration, the agency at that point might find it difficult to put the genie back in the bottle.

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A cybersecurity working group at the G7 is urging governments to accelerate defenses against quantum computers that could break some existing forms of public key encryption.

The working group’s report, prepared in June at the G7 Summit in France, said organizations “can no longer afford to postpone” work transitioning critical systems and data to “post-quantum” forms of encryption.

“The quantum threat remains off the radar for many organizations and not properly resourced, with other security concerns taking precedence,” the working group report said. “Yet, a successful and collective transition to PQC can only be achieved if organizations understand that the quantum threat is an economic and business risk, and not merely a cryptographic risk.”

Instead, leaders in government and industry “must reframe the quantum threat from a distant future problem to a near-term threat that demands action across all sectors, not just critical infrastructure.”

The report acknowledged uncertain timelines for quantum computers, but identified that threats like harvesting current sensitive, encrypted data to decrypt it in the future do exist today.

The report also warned that quantum computers could compromise authentication and assurance mechanisms—by forging trusted data or stealing confirmation— jeopardizing secure communications and legal contracts.

The working group’s conclusions are largely in line with what governments have been recommending for years, urging industry to inventory and prioritize their critical systems and shift over to newer, “post-quantum cryptography” encryption algorithms.

These encryption algorithms, originally designed by independent cryptographers and vetted by the National Institute for Standards and Technology and National Security Agency, will be used to protect the government’s own systems and data from cybercriminals and foreign governments.

The Trump administration recently issued an executive order directing agencies to boost the domestic quantum industry and move up internal timelines for migrating to PQC encryption from 2035 to 2030. Google, a potential industry bellwether, and other companies have opted to move their own migration timelines to 2029.

But while that work has proceeded on schedule in some areas, like the federal government and the highly regulated financial sector, it has lagged in other industries where owners and operators feel they have more immediate concerns than quantum computers.

“We acknowledge that transitioning to PQC is not a problem for individual organizations to solve in isolation, but rather a collective transition that can only be achieved with early engagement, coordinated planning and informed decision making across the public and private sectors,” the working group wrote.

While often referred to as “Post-Quantum” encryption, the reality is more complex. Cryptographers believe the algorithms selected by NIST and NSA will stand up to attacks from a quantum computer, but since one doesn’t exist today, designing cryptographic protections against it requires some guesswork and mathematical estimation.

Estimates can be wrong, or overlook the entire cryptographic attack surface. Some NIST-selected algorithms have already been broken with traditional computers or AI. That’s why the agency backs multiple algorithms and concepts like “crypto-agility,” allowing organizations to quickly switch between them.

The G7 report was signed by the U.S. Cybersecurity and Infrastructure Security Agency (CISA), the UK’s National Cyber Security Centre (NCSC), The French Cybersecurity Agency (ANSSI), Germany’s Federal Office of Information Security (BSI), Canada’s Communications Security Establishment (CSE), Japan’s National Cybersecurity Office (NCO) and Italy’s National Cybersecurity Agency (ACN).

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1Password is facing customer and internal employee backlash after pledging $300,000 to support a Linux distro created by David Heinemeier Hansson, who has regularly published racist and anti-immigrant rhetoric. "The popular password manager is now a 'distinguished corporate patron' of Omacom, the nonprofit foundation that oversees a popular Linux distribution known as Omarchy," reports The Verge. From the report: One viral blog post declared that 1Password "Supports the Ethnic Cleansing of Europe" because of the donation. Others on social media asked for suggestions for alternative password managers so they would not support the funding of a project from Heinemeier Hansson, better known as DHH. The donation has also resulted in internal pushback from employees of 1Password who are disappointed by the affiliation, The Verge has learned. 1Password CEO David Faugno and cofounder Roustem Karimov have since posted internal messages addressing what Faugno describes as "concerns, both internally and externally" that have been raised "due to the polarizing nature" of DHH. DHH is a Danish entrepreneur best known for creating Ruby on Rails, Basecamp, and the Hey email client. Omarchy is DHH's "opinionated" version of Linux, meaning it's Linux the way he likes to use it. It's based on Arch Linux, with certain apps that install by default. It's also, apparently, one of 1Password's big customer environments. [...] In an internal Slack message obtained by The Verge, 1Password's Karimov downplayed the overtly racist comments from DHH, telling staff the following: "As I said, people have different personal opinions. You believe in your heart that DHH is evil, that you have the moral high ground, and that nothing will change your mind. However, not everyone believes that. It is not fair to claim a monopoly and ostracize team members who might disagree with you. There are people who are afraid to speak up simply because they will be personally attacked." 1Password CEO Faugno took a different approach, trying to reassure staff that "1Password does not endorse hateful, dehumanizing, or exclusionary views, including those shared publicly by DHH." Nonetheless, it seems the company has sacrificed a moral position for a "mission-driven" position. In the same message to staff, Faugno says "the scale and growth of [Omarchy's] use among our customers is significant -- Omarchy has grown to be the second most used Linux distribution among 1Password users." Faugno then tries to create distance, telling staff that its contribution is "to the Omacom Foundation, not an individual." Still, he says "we recognize that Omarchy is associated with DHH, its founder. Our donation is not in any way an endorsement of his personal views or conduct."

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BT could make more than $2.7 billion by recycling copper from its aging UK landline network as BT subsidiary Openreach replaces legacy wiring with full-fiber broadband. Engadget reports: BT's recovered copper was previously valued at around $2 billion. But prices have surged, thanks to rising global demand tied to AI data centers, renewable energy and electrification. With global demand expected to grow sharply over the next decade, the value of BT's copper could potentially exceed even that $2.7 billion estimate. The BT subsidiary Openreach is in the process of replacing its legacy copper network with full-fiber broadband, with plans to connect 30 million residences by the end of the decade. It's already recovered nearly 10,000 metric tons of copper in its latest financial year and over 22,000 metric tons since 2023. "Copper has become one of the most strategic materials in the modern economy," according to Openreach's head of sustainability, Abby Chicken. Unsurprisingly, BT isn't waiting to profit from the recovered metal. It has an agreement with EMR, a cable recycling company, and recently received $133 million up front for recovered copper.

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Kalshi has issued its first-ever lifetime ban to former U.S. Rep. George Santos after concluding he failed to fully cooperate with an insider-trading investigation. He is also being fined $71,356, according to a filing (PDF) on its website. Engadget reports: It was reported in June that Santos was under investigation from the Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) over insider trading. Prediction markets like Kalshi allow users to buy contracts or shares in the outcome of events. Participants don't necessarily have to wait for an event to resolve before selling these contracts and cashing in. Santos allegedly bought contracts on Kalshi indicating that he would not attend this year's State of the Union speech after weather disrupted his travel plans. According to the CFTC, Santos then sold those contracts for a profit after claiming on social media that he would be in attendance. The former congressman is said to have made more than $17,500 through this scheme, which Kalshi reportedly detected and flagged to authorities. In July, Santos agreed to pay over $35,000 to settle the CFTC's claims against him. The agency also issued him a three-year trading ban. Kalshi, however, doesn't plan to allow Santos back on its platform in 2029 (or anytime after that). The company confirmed to The Wall Street Journal this was the first time it had given anyone a lifetime ban and that it did so because Santos didn't fully cooperate with its investigation. He can appeal the decision to the CTFC.

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Bank of England Governor Andrew Bailey is warning that advanced "frontier" AI models could materially increase cyber risk across the global financial system by making attacks faster, cheaper, and more scalable. In a letter to G20 finance officials, he said financial firms need stronger defenses and contingency plans for simultaneous disruptions. CNBC reports: Writing in his capacity as chair of the Financial Stability Board, an international body that coordinates policy and makes recommendations to national authorities, Bailey identified the potential impact of frontier AI -- which refers to the most advanced AI models -- on cyber risk as "the most immediate concern" for the financial system. "Frontier AI may have the ability materially to alter the speed, scale and economics of cyber risk, which could undermine market confidence system-wide, especially due to highly concentrated third-party service providers," Bailey said. "Recent developments have also highlighted to me that many jurisdictions do not have the protocols in place to manage the development, release, and deployment of advanced frontier AI models, heightening risks for the financial sector and beyond," he added. [...] Financial institutions and technology providers will need to improve vulnerability management, response and recovery capabilities -- "and prepare for more severe scenarios involving simultaneous disruption across multiple firms or shared technology dependencies," Bailey said. Alongside new AI models, Bailey cited "fragilities" in sovereign debt markets, the growing use of debt by investors in equity markets and stretched asset valuations, particularly AI-related investments, as among his concerns.

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Apple is raising Apple TV's U.S. price to $14.99 per month, up from $12.99, while the annual plan jumps from $99 to $119. It's the service's fourth price hike in four years and means the monthly cost has now tripled from its $4.99 launch price in 2019. Apple One's Individual plan is also rising from $19.95 to $21.95 per month.

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Panic is refunding Playdate customers the 19% tariff charges it passed along while the Trump administration's import duties were in effect, after the Supreme Court ruled the tariffs illegal and the company began receiving refunds from the government. Panic says the money "just [wasn't] ours to keep." Ars Technica reports: In an update posted on the Playdate help site this week, Panic noted that it has finally "begun to receive refunds of the tariffs we paid in the last year" and had consequently "refunded all tariffs charged to customers." In the initial version of that tariff note, Panic explained that it couldn't afford to simply "absorb" the 19 percent tariffs it was being charged to import Playdate hardware made overseas because "our margins on Playdate are low." As such, while the tax was in effect, it was passed along to customers as an explicit subtotal line item at the bottom of all Playdate orders. That's in contrast to companies like Nintendo, which vaguely cited "market conditions" and tariff "uncertainty" in raising the asking price of legacy hardware and some Switch 2 accessories last year. Speaking to Game Developer, Panic co-founder Cabel Sasser said filing paperwork to claw back these taxes and processing tariff refunds for customers took a fair bit of backend work. Still, he said returning that money to Playdate purchasers in the end was a no-brainer. "It's just not our money to keep, and it felt really good to give it back," Sasser said. "That's an easy way to know you made the right decision." "It just felt like the right thing to do," Panic wrote in a refund email message shared on Reddit.

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Amazon has raised the prices of its hardware devices by as much as 60%, blaming "significant increases in memory and storage component costs." TechCrunch reports: The price explosion impacted Fire TVs, Echos, Kindles, and Eeros. One egregious example that's been cited is that of the Echo Dot, one of Amazon's cheapest smart speakers, the price of which jumped 60% overnight, from $49.99 to $79.99. Price-tracking sites like CamelCamelCamel show the stark uptick, which has previously hovered much lower. [...] The company also said that it would continue to offer occasional promotions to customers over the course of the next year. Amazon said in a statement: "The consumer electronics industry is facing significant increases in memory and storage component costs. After absorbing these increases for as long as we could, we recently adjusted pricing across our product lines."

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The Trump administration is proposing to make permanent a $103,265 fee on certain new H-1B visas, dramatically increasing costs for employers that rely on highly skilled foreign workers in tech, education, and research. "A federal judge in June ruled that the fee was illegal and blocked the Trump administration from collecting it," reports Reuters. "A Boston-based appeals court is reviewing that decision while a different court considers whether a judge properly rejected a challenge to the fee by a major business group." From the report: Trump's temporary fee increase expires in September, one year after it was issued. The proposed rule by the U.S. Department of Homeland Security, posted in the Federal Register on Monday, would make a fee of $103,265 permanent. It could be finalized by the end of the year. The H-1B program allows U.S. employers to hire foreign workers with training in specialty fields and offers 65,000 visas annually, with another 20,000 for workers with advanced degrees, approved for three to six years. Those visas typically came with fees between $2,000 and $5,000 before Trump's order. The fee would not apply to visas granted to foreign citizens already in the United States on student visas, who make up a large share of new H-1B recipients, or to renewals of current visas.

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After years of refusing to adopt tap-to-pay technology in its stores, retail giant Walmart announced today that it is finally accepting payments via both Apple Pay and Google Pay. The rollout begins August 24 at select Walmart and Sam's Club locations and is expected to reach all stores by year-end. It will then expand to fuel stations by mid-2027. TechCrunch reports: The news is a surprise, as Walmart has long refused to adopt the ubiquitous payment technology to instead promote its own in-house solutions, like Walmart Pay and Scan-and-Go. In years past, Walmart even teamed up with other big retailers in an attempt to take down Apple Pay entirely with an alternative mobile payment system of their own, called CurrentC. The effort failed and was shut down back in 2016. All the while, Walmart customers have begged the company to support modern tap-and-pay technology, like Apple Pay, which is now accepted at 85% of retailers across the U.S., including most larger stores. For Walmart, the decision reads as a defeat. As one of the world's largest retailers, it believed it could push customers to its own payment solutions despite the growing adoption of Apple Pay and others of its kind. Ultimately, it had to admit that it was disadvantaging its own customers in the process.

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RAM prices have exploded over the past year, with some DDR5 kits approaching 500% year-over-year increases and a 128GB kit now selling for $3,399, which is more than 10 times its previous low. Tom's Hardware reports: Things improve as you step down the memory capacities and speed tiers, but not as much as we'd like. You're still looking at $392 for a memory kit that was just $72 last year. To reinforce the point, I pulled the latest average price data from PCPartPicker, comparing where we are today (August 2026) to exactly one year ago. This data is somewhat approximate, but it should be broadly accurate. [...] A standard 64GB (2x32GB) DDR5-5600 kit that would have cost you under $200 last summer is now demanding over $1,100. It is a 5x multiplier on a component that used to be a fairly boring and predictable line item in a PC build budget. If you plan to just wait it out on an older AM4 or LGA1700 motherboard with DDR4, you'd better hope your memory holds out too, because DDR4 isn't safe from the fallout. With DDR5 entirely out of reach for most builders, the resulting scramble for older platforms running DDR4 memory has created a massive knock-on effect, and as a result, DDR4 kits are up anywhere from 120% to nearly 180% across the board. Nowhere near as bad as DDR5 pricing, but it still stings when a kit that was $105 last year is $281 this year. This phenomenon is by no means exclusive to the US, either. German tech site ComputerBase have also been tracking this global trend, reporting just this week that average RAM prices in Europe have skyrocketed by 345% compared to September 2025. Their data shows the squeeze is bleeding into other components too, with hard drive and SSD prices both climbing over 125% in that same timeframe. In fact, the situation is so severe that hyperscale buyers have reportedly already locked in almost all of the global DRAM production capacity for 2027, handing over advance deposits to guarantee their supply of precious DRAM, which is now among the highest-value commodities in the world by weight; mainstream DRAM chips are worth over half as much per kilogram as solid gold.

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An anonymous reader quotes a report from the BBC: For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and -- most importantly -- for the user, no visible fee. That may be about to change. India has paved the way for banks and payment companies to charge merchants a fee on UPI transactions, potentially ending a decade-long experiment in free digital payments. The government has yet to decide the rate or exactly where it will apply, but proposals under discussion include a merchant discount rate (MDR) of 0.3-0.5% -- a small fee paid by a business to the banks and payment companies that process its UPI payments -- on larger transactions at big businesses. The government says consumers and person-to-person UPI payments will remain free. If merchant fees are introduced, they will apply only to some transactions above a set threshold, at a nominal rate, meaning most UPI payments will remain free. The question is whether putting a price on UPI could weaken the network that made it such a success. The stakes are enormous. Launched in 2016, UPI has grown into one of the world's biggest real-time payment networks. According to official data, in July alone, there were 23.6 billion UPI transactions worth 29.87 trillion rupees ($313.5 billion). Fintech apps such as PhonePe and Google Pay account for most UPI payments. In the financial year just ended, the figure was about 241.6 billion transactions -- almost 12,000 times the volume in UPI's first full year. More than 550 million people now use it, and the system is now available in some form for payments in 11 countries outside India. India's UPI became ubiquitous partly because it made digital payments almost frictionless for merchants, including small vendors who can accept payments with little more than a QR code. New research suggests that merchant acceptance was "not just a result of UPI growth, but one of its key drivers." As RBI governor Sanjay Malhotra put it, "Someone will have to pay the cost." The challenge will be making UPI sustainable without weakening the merchant network that helped it take off.

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An anonymous reader quotes a report from The New York Times: Buy now, pay later" loans took off during the pandemic as a way for online shoppers to go on retail splurges without using a credit card. Now, lenders are offering the loans as a means for people to finance basic households needs. The lending apps Flex and Zip allow customers to take out loans to pay for their broadband, electricity, health insurance, mobile phone service, mortgage and water bills. Affirm, one of the most popular pay-later apps, has started providing some tenants loans to extend their monthly rent payment for a few weeks. Many dentists, veterinarians and medical clinics now often offer instant pay-later financing, and Intuit this year started promoting "File Now, Pay Later" loans to TurboTax users who owe money in their tax return. Pay-later loans are becoming the "working capital for the modern middle class," said Karen Webster, the chief executive of Pymnts, a news and market research company for the payments industry. "Consumers are using it more for essential, everyday things." Americans spent $160 billion last year through pay-later loans, according to research released recently by Federal Reserve economists -- nearly twice what consumers spent two years earlier, in 2023. That's still a fraction of the more than $3 trillion U.S. shoppers spend annually on consumer credit cards. But the industry continues to expand by double-digit rates each year. How much of that growth reflects consumer preferences, versus desperation, is a question economists and industry analysts are trying to unravel. The rise in pay-later financing comes as many households are leaning more on debt to keep up with their daily expenses. Paying interest -- to afford basic needs -- adds to the overall cost of living, which has already been rising amid higher medical, housing and fuel costs. For many borrowers, the loans have become their only option: Half of those using them said they could not make ends meet otherwise, according to the latest edition of a survey that LendingTree, a loan marketplace, has compiled for years.

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Apple is proposing to charge U.S. developers up to 15% when users leave an app through an external purchase link, with lower rates of 10% or 5% for certain programs and smaller developers. The proposal follows years of litigation with Epic Games and a contempt ruling that temporarily barred Apple from collecting any link-out fees. A federal judge will now decide what commission, if any, is reasonable. MacRumors reports: These proposed fees are what developers would pay when someone uses their app, taps a link in the app, and then makes a purchase on the website in the link. So if someone using the Spotify app clicked a link in the app to go to the Spotify website and then purchased a subscription, Spotify would owe Apple a 15 percent fee. Apple says the fees were calculated based on expert analysis, and they are lower than the link-out rates Google is charging in the Epic v. Google case. Apple submitted the proposal to the U.S. District Court for the Northern District of California, where Judge Yvonne Gonzalez Rogers has been tasked with determining a reasonable fee for Apple to charge for its intellectual property. The appeals court suggested the commission could be limited to the direct costs of facilitating link-outs, and under that approach, the fee would be zero. Apple says a zero commission would not reflect the value that it provides developers, and its suggested commission gives it fair compensation for the App Store platform.

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Nvidia is working with Wall Street heavyweights on a potential $500 billion financing package for AI infrastructure (source paywalled; alternative source). The consortium includes BlackRock's Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR. The Financial Times reports: The partnership underscores Nvidia's growing efforts to raise capital for itself and its clients to continue assembling the chips, power production and data centres at the heart of the AI boom. The $5.25 trillion company has positioned itself at the centre of the AI boom, providing chips, infrastructure and software to a wide array of partners developing the technology. Nvidia's graphics processing units, or GPUs, underpin most of the leading US AI models available today. [...] The biggest cloud-computing companies, including Meta, Oracle, Microsoft, Alphabet and Amazon, have dramatically increased their spending on AI infrastructure as they look to win the race to dominate the emerging technology. Morgan Stanley projects so-called hyperscalers will spend $3.5 trillion between 2026 and 2028. That need for capital has forced technology groups to tap every source of cash they can find, including public equity, investment-grade and high-yield bonds, securitized debt, private credit and project finance markets. "[The] sheer size of the AI infrastructure build-out is unprecedented," Jim Zelter, president of Apollo, said on an earnings call earlier this month. "More than $8 trillion of capital is expected to be invested, a staggering sum. We see an enormous opportunity for private capital to finance a portion of this along with public capital."

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An anonymous reader quotes a report from NPR: Billions of dollars are traded every week on the lightly regulated prediction market sites, where users bet on everything from movie reviews to elections to conflicts in the Middle East. Clinical trials are just the latest area where the industry's rapid growth is raising ethical questions. Kalshi claims such bets will provide a new source of information about which drugs will get approved, and what clinical trials will show promising results, which the company says can help investors decide what new drugs to fund. "If you want to ban profiting from the failure of clinical trials, you would start with the stock market, where the financial incentive for this type of profit is orders of magnitude larger," said Kalshi spokesman Jack Such, pointing to stock market short sellers who have profited from clinical trial failures. "While Kalshi and the stock market are the same in this regard, they do differ in one important way: the stock market doesn't give any valuable information to researchers," Such said. Drug trial researchers, though, are far from convinced. David Tsai, who runs clinical trials at a biotech company in the San Francisco Bay Area, started an online petition pushing for such betting to be banned, making the case that betting on drug trials "threatens the very foundation of trust and integrity in biotechnology." Tsai is concerned that the prospect of betting provides those involved with a clinical trial a reason to tamper with the results for a prediction market payout. "If we were running a trial for an oncology drug that requires an infusion, a pharmacist who had placed a bet saying that it's gonna work well, or doesn't work well, could obviously adjust the infusion rate, could adjust the source temperature of the drug," he said. "They could change any number of variables that could obviously have a direct impact [on] how the trial and the data and the patient safety would come out." Another skeptic is Nicholas Zaorsky, a professor of radiation oncology at the Mayo Clinic in Jacksonville, Fla., who has helped run clinical trials and agrees that prediction markets can interfere with the advancement of life-saving drugs. "Prediction markets can be valuable in some settings because they aggregate information, but clinical trials are fundamentally different: investigators, coordinators, and sometimes even participants can directly influence aspects of the outcomes being wagered on," Zaorsky said. "That creates financial incentives that risk undermining trial integrity." Bettors should not be rooting for an experimental medicine to fail just to earn a buck, says Joshua Pederson, the father of a 12-year-old cancer patient enrolled in a clinical trial. "It's a dark idea," he said. "It's quite ghastly." Kalshi, for its part, argues that its prediction markets could help patients track promising medical breakthroughs and clinical trials, enlisting experts including 23andMe founder Anne Wojcicki to make the case. "Most patients don't know about the choices available in clinical trials or which programs are most promising. The opportunity to have an open, transparent dataset about trial probabilities is extremely promising and empowering for people," a white paper sponsored by Kalshi stated.

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Trump Media has officially launched its $100,000-per-month data feed giving trading firms machine-readable access to Truth Social posts milliseconds before the public. According to Fortune, five Wall Street firms have already signed up for the service, which "would generate about $500,000 in monthly revenue, or $6 million annually." Critics argue the service could let President Trump, who owns about 41% of the company, profit from early access to market-moving presidential communications. "I'll be blunt," Gian Luca Clementi, an economics professor at NYU Stern School of Business, told Fortune. "This is insider trading by definition." "He's going to monetize the role of the office of the president of the United States," he said. "The undisputable fact is that somebody is going to earn some more money than before, and that's the president of the United States." From the report: Trump's media venture has struggled to build a profitable social media business despite its lofty valuation. Truth Social has reported significant operating losses since going public. According to the company's earnings report for Q1 2026, Trump Media & Technology Group netted a roughly $405 million loss and raised less than $900,000 in sales. Not everyone agrees the arrangement meets the legal bar for insider trading. Shannon Devine, a spokeswoman for Trump Media & Technology Group, has pushed back on the characterization, telling Quartz that Truth API "offers customers the fastest way to ingest publicly available Truth Social data" and that critics "must have invented a new theory of 'insider trading' based on publicly available information." Classic insider trading law hinges on trading on secret, material information in breach of a fiduciary duty, and Truth Social posts are, by design, meant to become public within moments -- raising real doctrinal uncertainty about whether faster access alone qualifies. But other legal experts argue the greater risk lies ahead. Richard Painter, former White House chief ethics counsel, has argued that the arrangement could violate federal law once Trump posts genuinely market-moving news -- on tariffs, military action, or other policy decisions -- before it's public, with Truth Social effectively acting as a paid "tipper" on the president's behalf. Sen. Alex Padilla (D-Calif.) said he plans to introduced legislation Tuesday to ban the president from selling expedited access to his statements.

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eBay and several former executives have agreed to pay $56 million to Ina and David Steiner, the newsletter writers targeted in a 2019 corporate harassment campaign that involved threats, surveillance attempts, and deliveries of live insects and other disturbing items. The settlement closes the couple's civil case after seven former employees pleaded guilty to criminal charges related to the scheme. TechCrunch reports: Ina and David Steiner, a married couple and the co-authors of EcommerceBytes, inspired the ire of high-level eBay executives after occasionally criticizing the company in their newsletter. In 2019, a plot was concocted to intimidate the couple into halting their negative coverage. Executives used sock puppet social media accounts to harass the couple, while also sending them anonymous threatening letters and bizarre items in the mail -- including live spiders and cockroaches, pornographic magazines, a bloody pig mask, a funereal wreath, and a book about surviving the death of a spouse. According to previously released court documents, a plan that was attempted but never successfully carried out involved affixing a GPS tracking device to the couple's car. Yet another internally broached plan involved sending a "Samoan gang" to the Steiners' home. The settlement this week resolves a 2021 civil case brought by the couple against eBay. The law office representing the Steiners writes that the settlement includes $46.15 million paid to the couple by eBay itself, as well as $2 million from former eBay executive CEO Devin Wenig. Additionally, $500,000 will be paid out to the couple from former eBay executive Wendy Jones, as well as $50,000 from former eBay executive Steve Wymer. Additional funds are being paid to various non-profits. In 2022, seven former eBay employees were criminally charged and pled guilty in relation to the plot, including the company's former security chief, James Baugh -- who was sentenced to nearly five years in prison. Others indicted by the U.S. Department of Justice include David Harville, Brian Gilbert, Stephanie Popp, Stephanie Stockwell, Philip Cooke, and former eBay contractor Veronica Zea.

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