Global Tech Roundup: Bitcoin miners flee China to escape crypto ban
The long month of June is finally winding down. Like the previous week, this week was stocked with partnerships, product releases, mega deals as well as scandals across the global tech space.
Below we have curated some of the major stories around the globe you might have missed.
Uber acquires grocery delivery startup Cornershop
Uber has continued its bullish expansion into the delivery and logistics space with the acquisition of Latin American delivery startup Cornershop.
This comes one year after the company acquired a majority stake in the company. The regulatory filing by Uber shows that it will be retaining 47% interest in Cornershop in exchange for 29 million shares.
Uber has become the sole owner of grocery delivery startup Cornershop
This latest will make Cornershop a wholly-owned subsidiary of Uber. The deal is to be sealed in July. The completion will beef up Uber’s grocery delivery options it started across Latin America, Canada and the U.S. last summer after it acquired Postmates in a deal valued at $2.65 billion.
China ban forces Bitcoin miners to flee
Bitcoin miners in China are reportedly fleeing the country after the country banned crypto mining.
According to Mike Huang, operator of a crypto mining farm in the southwest province of Sichuan, many miners are exiting the business to comply with government policies.
Being the region that accounts for over half of global bitcoin production, the Chinese ban on operations has basically paralyzed the industry as miners dump machines in despair or seek refuge in places such as Texas or Kazakhstan.
Following the ban, Bitcoin prices plunged below $30,000 this week, as global investors worried about disruptions in its large market.
Clubhouse accidentally leaked its private messaging function
Pioneering live audio platform, Clubhouse has accidentally leaked its privates messaging feature. According to reports, some users saw a messaging feature called Backchannel- an apparent means for users to chat via text instead of audio.
It’s not clear how long this version of Backchannel has been leaked, but Clubhouse seemingly removed it in a hurry.
Despite being a mistake, the revelation shows that the platform seems to be taking its first steps away from pure live audio experiences.
“As part of our product building process, Clubhouse regularly explores and tests potential features. These functions sometimes become part of the app, sometimes they don’t.”Clubhouse Spokesperson
The company spokesperson didn’t confirm the new messaging feature in a report by The Verge. He however revealed that there is a possibility that it will later be added to the app.
Hyundai acquires majority stake in Boston Dynamics
South Korean automotive giant, Hyundai has completed its acquisition of Boston Dynamics. The deal values the innovative robotics company at $1.1 billion.
With the new deal, Hyundai will have a controlling interest in Boston Dynamics, previously owned by SoftBank.
Boston Dynamics saw the commercialization of its first two products since launching nearly 30 years ago under Softbank. It has brought its quadrupedal robot spot to market and has announced the impending launch of Stretch, an updated version of its warehouse robot, Handle.
Boston Dynamics CEO, Rob Playter says the new deal will help accelerate its plans to enable the world with cutting-edge automation and to continue to solve the world’s hardest robotics challenges for its customers.
Amazon acquires encrypted messaging service, Wickr
Tech giant, Amazon is entering into the encrypted messaging business. Its subsidiary Amazon Web Services, (AWS) has bought Wickr, an encryption messaging service.
According to AWS, Wickr will continue operating as is as well as offer its services to AWS customers.
Financial terms were not disclosed but Wickr just raised under $60 million in funding, according to PitchBook data
The messaging app is currently providing services to government and military groups and enterprises. It also claims to be the only “collaboration service” that meets security criteria set out by the NSA.
You can check out other news that happened during the week here. Have a nice weekend!!
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