📈 Bitcoin Soars Amid Election Buzz, Apple Faces EU Fine, and China Hacks U.S. Officials
Good morning. It’s Wednesday, November 06. Today we are covering:
Bitcoin breaks new all-time high above $74,000 amid Trump's early lead on Election Day
Apple to Face First EU Fine Under Bloc's Digital Markets Act
China Hack Enabled Vast Spying on U.S. Officials, Likely Ensnaring Thousands of Contacts
Nintendo says its Switch successor will be backward compatible with Switch games
Interpol disrupts cybercrime activity on 22,000 IP addresses, arrests 41
Let’s dive in
Bitcoin breaks new all-time high above $74,000 amid Trump's early lead on Election Day
By Danny Park via The Block
Bitcoin reached a new all-time high of $74,700, driven by Donald Trump’s early lead in the U.S. presidential election.
The cryptocurrency's price surge aligns with a broader rally in the crypto market, as Ethereum and Solana also saw significant gains.
Analysts attribute Bitcoin's record-breaking rise to a mix of U.S. election dynamics, heightened ETF inflows, and a favorable regulatory stance from Trump’s campaign.
𝕏: Now that Trump is back in office I will not be surprised if we see another nation state announce their intention to build a bitcoin treasury during this lame duck period. - Marty Bent (@MartyBent)
Apple to Face First EU Fine Under Bloc's Digital Markets Act
By Samuel Stolton via Bloomberg
Apple faces the first-ever fine under the EU's Digital Markets Act for anticompetitive App Store practices, marking a significant regulatory move.
This penalty follows a prior €1.8 billion fine against Apple in a similar case involving Spotify.
The fine targets Apple's refusal to allow developers to offer cheaper deals outside its App Store, according to sources familiar with the case.
𝕏: EU is set to fine Apple up to 10% of their global revenue. EU is 7% of Apple's global revenue (profit being, on average, about half whatever that number is). So, the EU could, theoretically, fine Apple 3 years of income. When does it make sense to just leave the EU? Soon. - alexlindsay (@alexlindsay)
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China Hack Enabled Vast Spying on U.S. Officials, Likely Ensnaring Thousands of Contacts
By Dustin Volz via Wall Street Journal
Chinese hackers linked to intelligence agencies breached U.S. cellphone lines of senior national security and policy officials, allowing access to call logs, unencrypted texts, and audio.
The attack likely compromised communications of thousands of Americans and their contacts, escalating concerns over national security impacts.
This breach underscores the U.S. intelligence community's warnings about China's growing cyber capabilities and the vulnerability of American communications infrastructure.
𝕏: Chinese hackers used precision strikes to quietly compromise phone lines used by an array of senior national security and policy officials, an attack that ensnared thousands of contacts and compromised overseas providers. The latest on Salt Typhoon - Dustin Volz (@dnvolz)
Nintendo says its Switch successor will be backward compatible with Switch games
By Ash Parrish via The Verge
Nintendo’s upcoming Switch successor will be backward-compatible with current Switch games, allowing players to continue using their Nintendo Switch Online accounts seamlessly.
As of September 30, 2024, Nintendo Switch has sold 146 million units, with a record-breaking 1.3 billion software sales.
Nintendo's focus on backward compatibility addresses concerns over game preservation, an issue as 87% of games released before 2010 are now critically endangered or unavailable.
𝕏: Nintendo dropping Switch 2 news during the election is the most Nintendo thing imaginable. Switch 2 will be backwards compatible! LETS GO! - John A. Douglas (@J0hnADouglas)
Interpol disrupts cybercrime activity on 22,000 IP addresses, arrests 41
By Bill Toulas via BleepingComputer
Interpol’s Operation Synergia II dismantled 1,037 servers and disrupted 22,000 IP addresses linked to cybercrime, resulting in 41 arrests across 95 countries.
The operation, supported by cybersecurity firms, targeted threats like ransomware, phishing, and information stealers, with an additional 65 suspects under investigation.
Authorities warn of rising cyber threats, including AI-enhanced phishing and info-stealer malware as precursors to ransomware, which increased by 70% last year.
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