Crypto billionaire Justin Sun settles US fraud case for US$10 million
US SEC settled civil fraud charges against Justin Sun and affiliates Tron Foundation, BitTorrent Foundation, and Rainberry with a $10 million penalty. Allegations included illegal token distribution, artificial volume inflation, and undisclosed promotions. The deal resolves the 2023 lawsuit without admission of wrongdoing.
South China Morning Post • Mar 6
CRYPTO FINANCE REGULATION
New Mexico jurors watch Zuckerberg deposition in Meta child safety bellwether trial
Jurors in New Mexico's bellwether trial on social media harms to children viewed Meta CEO Mark Zuckerberg's deposition, where he downplayed internal research on platform addiction and teen wellbeing. Meta studies had flagged Instagram's negative effects on youth mental health. The testimony underscores tensions between corporate knowledge and public accountability.
Associated Press • Mar 5
REGULATION SOCIAL AI
Elon Musk Defends Social Media Posts in Twitter Shareholder Lawsuit
Elon Musk testified in a shareholder lawsuit that his social media posts before the 2022 Twitter acquisition did not aim to impact share prices, countering claims of manipulation. He stated he did not anticipate effects on the stock from his comments.
The New York Times • Mar 5
CORPORATE NEOCORP REGULATION
Owner of collapsed Brazilian bank arrested for second time
Daniel Vorcaro, owner of the collapsed Banco Master, arrested for a second time facing allegations of illegal surveillance and intimidation of the bank's critics. The charges relate to efforts to suppress opposition amid the financial scandal. Brazilian authorities detain him as investigations deepen.
Financial Times • Mar 5
CORPORATE SURVEILLANCE PRIVACY
‘Attempted corporate murder’: Trump’s threats against Anthropic chill AI industry
President Trump ordered a government-wide boycott of Anthropic's Claude AI and threatened prosecution against the company after CEO Dario Amodei refused to permit military use of the technology for mass surveillance or autonomous armed drones. Defense Secretary Hegseth had suggested invoking the Cold War-era Defense Production Act to force compliance, which legal experts warned would constitute effective partial nationalization of the AI industry.
POLITICO • Mar 1
CORPORATE NEOCORP REGULATION
Dirty water, death and decline: the inside story of a privatisation scandal
A Guardian investigation reveals UK water privatization has loaded companies with debt while infrastructure crumbles. Secret 2002 government reports predicted this outcome. UN special rapporteur Pedro Arrojo-Agudo criticizes the system, while Thames Water—serving 16 million customers—struggles with £20bn debts and private equity owners demand 15-year exemptions from environmental rules.
The Guardian • Mar 1
CORPORATE REGULATION INFRASTRUCTURE