Every week we present the latest startup, tech, and innovation news from around the world. Here are this week"e;s top stories. >>
Sam Bankman-Fried. Photo credit: Alex Wong/Getty Images
#1 Sam Bankman-Fried Has Been Arrested
Sam Bankman-Fried, FTX founder, was arrested this week in the Bahamas and charged with wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering following the collapse of the crypto exchange last month.
FTX had filed for bankruptcy, leaving users unable to withdraw funds. The exchange owes over $3.1B to its largest creditors.
Bahamas Chief Magistrate denied the petition for his release on bail, citing a "great" risk of flight, and mandated that he be kept at a correctional facility until 8 February.
Lab-grown meat from Upside Foods. Photo credit: Gabriela Habun
#2 The FDA Approves Lab-Grown Meat in the USA
Cultivated from animal cells, lab-grown meat is revolutionizing FoodTech after the United States became the second country to approve it, after Singapore. The FDA cleared Californian company Upside Food’s “slaughter-free” chicken, stating that the administration had “no further questions” regarding the product’s safety.
An industry worth $2.6B, cultured meat will soon find its way into America’s local restaurants. A key step towards a sustainable food future.
Photo credit: Miguel Candela/Anadolu Agency
#3 Celebrities Sued for Alleged Bored Ape Yacht Club NFT Scheme
Celebrities such as Snoop Dogg, Paris Hilton, Madonna, Justin Bieber, Kevin Hart, and others are being sued in a class-action lawsuit accusing the figures of ‘scheming’ to raise the price of their Bored Ape Yacht Club NFTs and defrauding their fans.
The lawsuit was filed in Los Angeles and the plaintiffs are looking for at least $5 million for themselves and for others that were affected by the scheme.
Since its peak in April at $430,000, the Bored Ape Yacht Club NFT’s value has been going down with the current floor price of a Bored Ape NFT around $86,000.
Photo credit: Reuters
#4 Scientists Announce Breakthrough in Nuclear Fusion Energy
A breakthrough in nuclear fusion energy has been reached, announced the US Department of Energy. Researchers were able to produce more energy from a fusion experiment than was put in, a huge barrier that has limited fusion energy research for over 60 years.
This is a historical step towards a near-limitless, clean, carbon-free energy that could ‘revolutionize the world’. However, there is still a long way to go before fusion will be powering your home. Before scaling fusion experiments, they need to be repeated and perfected, and the amount of energy it generates will have to be significantly boosted.
Photo credit: Olivier Douliery/AFP
#5 New Bill Might Ban TikTok in the US
Lawmakers propose a bill to ban TikTok in the USA after the FBI publicly shared its concerns about China’s influence. The social media app known for its short viral videos is owned by Chinese tech giant ByteDance.
On December 15th, the Senate passed bipartisan legislation to ban the app from government devices, but the bill faces long odds. TikTok called the measure a "politically-motivated ban that will do nothing to advance the national security of the United States".
That’s it for this time. We’ll see you in a week for the next roundup!