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Coinbase and Binance Going to War with SEC

Plus: PGA Tour-LIV Golf merger is a major win for the Saudis

In Today’s Edition

  • This Black-owned startup is fixing and learning from broken EV charging stations

  • The World Bank is betting on this company to ‘green’ the $1.6 trillion steel industry

  • Coinbase Accused of Breaking Market Rules as Crypto Crackdown Widens

  • PGA Tour-LIV Golf merger is a major win for the Saudis — and Americans are slamming

  • Apple Vision - Research Report

  • iOS 17 will stop your Android friends from ruining your group texts with their green bubbles

  • Scientists find way to make aging hair regrow by manipulating stem cells

🚀Startups Nuts

More than a quarter of public EV charging stations were found to be nonfunctioning, according to a survey done in California by researchers at the University of California, Berkeley, and Cool the Earth, a nonprofit. Maintenance companies such as the California-based startup ChargerHelp! are expanding at lightning speed. Kameale Terry, founder of ChargerHelp!, says her company has already touched over 10,000 stations.

The $1.6 trillion global steel industry generates between 7% and 9% of global carbon dioxide emissions. Boston Metal has been working for a decade to develop, refine and scale technologies for producing metals without less carbon dioxide emissions than the conventional processes. Since 2017, Boston Metal has been specifically focused on manufacturing clean, “green” steel.

🏭Business Nuts

The SEC is suing Coinbase, the largest crypto trading platform in the US, alleging that the company operated as an unregistered broker. The SEC's legal action follows a similar move against Binance, the world’s largest crypto exchange. The regulator claims that Coinbase knowingly violated US laws relating to the trading of digital assets. Coinbase counters that it received implicit approval from the SEC at the time of its IPO and disagrees with the regulator's stance that all digital assets traded on its platform must be registered securities. Many of the same tokens the SEC mentioned in the suit against Binance were also named as securities in this suit.

The two-year-long fight between the PGA Tour and Saudi Arabia’s LIV Golf came to a stunning conclusion with the Tuesday news that the archrivals are now joining forces. American lawmakers, commentators and sports fans are calling the deal “hypocritical” and accusing the PGA Tour of taking “Saudi blood money” and “sportswashing.” Financial analysts say the merger will elevate golf globally and give it new resources to expand its fan base.

📱Tech Nuts

Vision is one of the best product names in Apple's history. It describes the product and its aspiration as a use case and makes a critique on the sort of society that Apple wants to build. Apple's mixed reality headset will ship in early 2024 with a price tag of $3,499. This article describes what it is like using the headset. It covers the setup experience, user interface, use cases, issues with the device, and more.

iOS 17 will allow iMessage users to edit text and send iMessage-quality videos in group chats even if there are Android users in the group chat. Group messages will display properly in threads for Android users. Android users will not be able to see edited messages. iOS 17 is scheduled to launch in September.

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🎁Miscellaneous

Researchers have discovered a new method for helping aging hair regrow in mice. Hair follicle stem cells get stiff as they age, making it harder for them to grow hair. They are more likely to produce hair if the stem cells are softened. The researchers were able to soften the stem cells by boosting the production of a tiny RNA. This enhanced hair growth in both young and old mice. The mice started to grow hair within 10 days.

💡What else are we reading and seeing?

  • The Liquid Staking Dilemma

  • America’s boating passion still afloat after pandemic

  • From Goldman Sachs to JPMorgan, dealmaking drought far from over

  • How we’ll know stocks have entered a new bear market

😎Fun Fact

The first known use of the word "bank" dates back to ancient Rome, where the word "bancus" referred to a bench used by moneylenders.

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