Good morning! Here’s the tech news you need to know this Tuesday.
1. China has banned initial coin offerings (ICOs), and it may only be the start of tougher regulation. Local media reports the country plans to further tighten rules on virtual currencies.
2. Vladimir Putin believes whatever country has the best artificial intelligence (AI) will be the “ruler of the world.” The Russian president told students Russia will share its AI findings with other nations.
3. A 23-year-old university drop-out just launched a cheaper rival to Uber in London. Taxify will have a 50% discount on fares in September.
4. Apple has killed its decade-old music festival, Apple Music Festival. As Music Business Worldwide reports, it was held in London, typically with events every night.
5. Cryptocurrencies are getting smoked. Bitcoin is now more than 7%, while Ethereum dropped 16%.
6. Facebook bid $US600 million (£464 million) to try and win the streaming rights to Indian cricket matches, Recode reports. It didn’t get them, but football games could be next.
7. Cord-cutting company Roku is going public. It builds a streaming TV and media player.
8. Sequoia and IDG are investing in Chinese Bitcoin mining giant Bitmain, Bloomberg reports. It is apparently raising $US50 million.
9. Hillary Clinton promoted a new media platform called Verrit. It’s a partisan news site with an emphasis on fact-checking.
10. Apple has released a new pair of $US350 (£271) noise-cancelling Beats headphones. They are the Beats Studio 3 Wireless.
Business Insider Emails & Alerts
Site highlights each day to your inbox.