Last year, the market capitalization of cryptocurrencies reached $3 trillion USD. DeFi now has a total value locked (TVL) of $100 billion USD on alone. NFTs have been the most surprising, flanked by complementary areas like metaverse and GameFi.
Australia's High Court rules Google wasn't the publisher of a 2004 story that allegedly tarnished state lawyer George Defteros. The story was about a Melbourne lawyer who represented people implicated in the Melbourne gangland killings. Google pulled the link in December 2014, but tried to overturn the ruling. The company lost its first appeal, and in 2020 a Victorian supreme court ordered that Deftero receive $40,000 in damages.
Amazon warehouse workers in Albany, New York have filed a petition for a union election. The National Labor Relations Board will verify if the petition has enough employee signatures to hold an election. Amazon has fiercely opposed unionization in the past. The NLRB accused the company of illegal union-busting in the case of a Staten Island warehouse.
TikTok has partnered with fact-checking organizations to help flagging inaccurate information. The popular social media platform will also ban paid political content posted by influencers. The push comes after misinformation flooded social media during the 2020 presidential election and helped fuel the riot at the U.S. Capitol.
Chinese regulators publish list of algorithms used by internet giants. Algorithms are critical for driving the growth of online platforms like TikTok and Taobao. They decide what people see and what they like and dislike - and can be used to influence content. China has been tightening its grip on the tech sector for two years.