Sunday, July 4, 2021

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FaZe Clan suspends players allegedly involved in crypto pump-and-dump scheme

Posted: 03 Jul 2021 03:12 PM PDT

FaZe Clan is once again reeling from drama, and this time the damage might be longer-lasting. Decryptnotes that FaZe has punished four players for alleged involvement in a pump-and-dump scheme involving the Save the Kids cryptocurrency project. The eSports team suspended Jarvis (pictured), Nikan and Teeqo, and has permanently removed Kay from the organization.

Save the Kids (aka KIDS) was pitched as a charity that would donate 1 percent of each transaction fee (which itself is 3 percent of the total transaction) to a child-oriented foundation. The creators got influencers at FaZe to promote KIDS ahead of its launch in early June, only to watch as the price crashed by almost 90 percent.

The affected clan members have denied any deliberate involvement. Kay said he had "no ill intent" in promoting KIDS, and that he made a mistake in participating without vetting the effort with the team.

This isn't even the first time FaZe team members have faced accusations of joining in scams. Kay and clan co-founder were paid to promote another coin, BankSocial, in May — only to sell shortly before exiting the partnership. Banks didn't reveal the financial connection in Twitter posts he has since deleted.

The crackdown highlights the growing number of eSports players making money outside of competitive gaming, both individually and as a team. Gucci made a Fnatic-badged dive watch, for instance. While it's not surprising given how players are quickly gaining the kind of celebrity status commonly associated with conventional sports stars, that opens them to similar temptations.

Boring Company proposes Fort Lauderdale transit loop for trips to the beach

Posted: 03 Jul 2021 01:55 PM PDT

Elon Musk's Boring Company is still trying to sell cities on transit loops, and it might just have a significant buyer. As The Vergereports, the Boring Company has submitted a bid for a transit tunnel loop that would link the downtown with the beach. The Las Olas Loop would be an "innovative and unprecented" way to manage traffic congestion and transit demands, Mayor Dean Trantalis claimed.

The City Commission will vote on the proposal on July 6th. It also plans to establish a process where other companies can offer rival projects. Specific details won't be available until after the competition is over, the city said.

A successful bid would establish the Boring Company's first East Coast tunnel. The only existing tunnel, in Las Vegas, launched in June.

It would be a crucial win. Musk's outfit hasn't had much success pitching cities on passenger loops, and has even shifted some of its attention to larger freight tunnels. A Fort Lauderdale contract would give the passenger system more credibility and might encourage other cities to consider tunnels of their own — at least, so long as the tunnels prove to be useful.

Porsche recalls 43,000 Taycan EVs over sudden power loss

Posted: 03 Jul 2021 12:42 PM PDT

It didn't take long for Porsche's rumored Taycan recall to become official. The German car maker has recalled about 43,000 Taycan and Taycan Cross Turismo EVs worldwide over a sudden power loss issue. You'll have to take your electric sports sedan to a workshop to receive an hour-long software update (over-the-air isn't an option this time), although Porsche said you could continue driving until the update is ready.

The bug has already been addressed for models rolling off the line, Porsche said.

The recall was prompted by an NHTSA investigation of nine incidents where power shut off while the cars were in motion, with six of the cars refusing to restart. Autoblognoted that Porsche found the problem in 130 cars after conducting its own investigation. There haven't been reports of collisions or injuries.

The recall is a blow (if minor) to Porsche, which has generally enjoyed strong sales for the Taycan. The EV is now popular enough in the US that it's outselling the 911, 718 and Panamera. While this isn't likely to tank sales, it comes as Porsche is still trying to persuade buyers that it's worth ditching the company's legendary gas engines for electric motors — it might face some hesitancy after this, even if EVs are likely to be more reliable.

FTC charges Broadcom with 'illegally monopolizing' the chip industry

Posted: 03 Jul 2021 11:06 AM PDT

Broadcom is facing a major antitrust crackdown. Gizmodoreports that the Federal Trade Commission has charged Broadcom with "illegally monopolizing" the markets for broadband and TV chips, including WiFi parts. The FTC claimed that Broadcom struck exclusive deals with vendors and service providers that prevented them from buying chips from rival suppliers.

The FTC also accused Broadcom of obtaining "exclusivity and loyalty commitments" for chip supplies, making it difficult for companies to compete on their own merits. The vote was near unanimous, although newly installed Commissioner Lina Khan bowed out.

The Commission's proposed action would forbid Broadcom from negotiating certain exclusivity and loyalty deals, bar the company from conditioning chip access based on commitments, and ban retaliation against customers who buy from Broadcom's competitors.

Broadcom signalled to Engadget that it might cooperate on a settlement. It still disagreed with the FTC's portrayal and claimed that it didn't break the law. You can read the full statement below.

The chipset giant hasn't exactly won favor from regulators in recent years. It spent 2017 and 2018 aggressively trying to buy Qualcomm, only to give up after the White House blocked the deal. We wouldn't expect regulators to make too many concessions as a result, even if a settlement seems likely. Broadcom hasn't been shy about wanting to dominate the chip business — the FTC will want assurances the company won't push boundaries in the future.

"We are pleased to move toward resolving this Broadband matter with the FTC on terms that are substantially similar to our previous settlement with the EC involving the same products. While we disagree that our actions violated the law and disagree with the FTC's characterizations of our business, we look forward to putting this matter behind us and continuing to focus on supporting our customers through an environment of accelerated digital transformation. We are equally pleased that the FTC investigation into our other businesses has been closed without action."
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