Europe discontinues partnership with Telefonica, shifting stance against Huawei equipment.
In the world of technology and finance, there's been a flurry of activity recently. Here's a roundup of some of the key developments.
Huawei and Geopolitics
Huawei continues to face scrutiny over security concerns. The Chinese tech giant has repeatedly denied allegations that its technology poses a threat, insisting it complies with all regulations in the jurisdictions where it operates. However, the decision to cancel a contract may be as much about geopolitics as about network integrity, with pressure from both the US and China. Recently, Spain canceled a €10 million fiber-optic service contract with Telefonica due to the use of equipment supplied by Huawei, a move that may signal a shift away from a permissive approach towards cnbc usage. European operators like Telefonica face challenges in phasing out Chinese vendors to satisfy regulators while managing costs and maintaining diversified supplier bases in global markets.
Cryptocurrency Developments
In the realm of cryptocurrencies, Next Technology has filed for a $500M common stock offering to buy more bitcoin. Meanwhile, the XRP and Dogecoin Exchange Traded Funds (ETFs) are set to launch this week, a significant step towards mainstream adoption of these digital assets. On the other hand, one user lost $1M USDC to a MEV bot after a mistaken transaction, highlighting the risks associated with decentralised finance (DeFi).
Tech Giants and Projects
Larry Ellison, co-founder of Oracle, has multiple high-profile projects in motion, including OpenAI, Paramount, Warner Bros., and TikTok. Elsewhere, Pantera Capital has backed Solana with a $1.1B bet, and has a target of $750K for bitcoin. Santander's Openbank is rolling out bitcoin, Ether, and other cryptocurrencies for European users, further expanding the reach of digital assets.
Market Fluctuations
Nvidia stock has crashed by 3% due to accusations of breaching China's anti-monopoly law. BYD stock has lost $45 billion in value amid rising doubts over China's EV dominance.
Cryptocurrency Threats
Monero is facing a growing threat of double-spending after a block reorganization. Hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from it, a stark reminder of the potential risks in the digital world.
Business Changes
The UAE M2 crypto exchange has dropped its business model, while Telefonica in Spain most recently contracted Nokia in early 2025 for the supply of 5G core network technology for enterprise and government services, while the contract with Huawei for 5G core network for private customers was extended until 2030 at the end of 2024.
Pi Network's Upgrade
Pi Network is beginning the final Testnet1 upgrade ahead of its mainnet transition, a significant step for the digital currency that aims to be the 'currency of the people'. Solana creators have received $19.3M from Pump.Fun streams, a move that could fuel further development of the blockchain platform.
This roundup provides a snapshot of the fast-moving world of technology and finance. Stay tuned for more updates as these sectors continue to evolve.
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