Good morning! Here’s the technology news you need to know this Wednesday.
1. Coinbase is investigating insider trading after it enabled – and then disabled – bitcoin cash trading. Bitcoin cash is a spin-out cryptocurrency of bitcoin that was created in August.
2. Members of Parliament in the UK tore into Google, Facebook, and Twitter. The European policy heads of the three firms were hauled before the Home Affairs Select Committee.
3. An analyst downgraded Apple stock because of “historical patterns.” The company’s stock has historically taken a hit following the launch of “tick” iPhone models, like the iPhone 5 and iPhone 6.
4. Elon Musk accidentally posted his phone number on Twitter while reaching out to a Facebook executive. He was apparently trying to message John Carmack, the chief technology officer of Facebook’s Oculus virtual reality subsidiary.
5. Facebook added a simple “on/off switch” for its facial recognition features. You should now get a notification if someone tries to use a photo with your face as their profile picture.
6. A South Korean cryptocurrency exchange is filing for bankruptcy following a second hack.Youbit was hacked twice, the first of which was linked to North Korea.
7. Twitter was once a bastion of free speech but now says it’s “no longer possible to stand up for all speech.”Twitter began throwing extremist accounts off its platform on Monday after a policy change around hateful conduct.8. Apple’s chief of operations in India reportedly quit after just one and a half years. Sanjay Kaul has already been replaced with Michel Coulomb.
9. Germany’s cartel office accused Facebook of abusing its dominant market position. It was the result of a 20-month probe into the social network.
10. Magic Leap released five seconds of video showing its highly anticipated augmented reality software. It showed off a 5-second video of a music app it developed with Icelandic rock band Sigur Ros.
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