Microsoft last month announced plans to buy Activision Blizzard in anall-cash deal valued at $68.7 billion. See also Microsoft’s acquisition of Activision Blizzard could face tough scrutiny. Both the FTC and Microsoft declined to comment.
Companies also can’t use data collected on children for commercial purposes like marketing or advertising. An FTC review of the rule put in place by COPPA has been underway since 2019. But she said she’s concerned it could give the illusion that the FTC is taking action.
Some customers would receive discounted bills or be able to easily drop the service. In a statement on Thursday, a Frontier spokesperson said the company admitted no wrongdoing in this settlement. Two California county district attorneys' offices joined the order. It needs to be signed by the district court judge before it takes effect.
Subscriptions purchased over the phone, on the internet, in print or in person would be regulated. Companies would have to allow for cancellation by the same method in the same number of steps or fewer.
It would also require companies to be more transparent about their pricing and fees, including in advertising. That means the rule would be active before next summer’s travel season. The FTC alsotook actionthis week against the food-delivery service Grubhub in the state of Illinois.
But because prices may appear lower for consumers, the deals often aren’t viewed as harmful or anticompetitive. All of this comes as the FTC and DOJ have gotten tougher in antitrust enforcement of Big Tech companies. In 2020, the FTC sued Facebook, alleging that the social media company has violated antitrust law. Earlier this month, a judgerejected Facebook’s request to dismiss that lawsuit. “The antitrust division shares the FTC’s substantive concerns regarding the vertical merger guidelines....
The presiding judge has not set a trial date. Two of Bankman-Fried’s associatesalready pleaded guiltyto fraud charges and are said to be cooperating with investigators. In interviews with various media outlets, Bankman-Fried has denied any criminal wrongdoing or intent. Samuel Raymond and Andrew Rohrbach have been named as prosecutors in Bankman-Fried’s case, court documents show.
It will also look into the ecosystem of digital assets, which has minimal government regulations.
However, Binance’s CEO noted at the time that its rivalfaced a liquidity crunch. Binance said on Wednesday itwon’t proceedwith the deal. Binance’s decision came after the company reviewed FTX’s books and structure. The amount gives the impression of closer to $9.4 billion to rescue the exchange, ReutersreportedThursday. I’m sorry. That’s the biggest thing.I fucked up, and should have done better. Bitcoindropped to just over $16,000, the lowest the cryptocurrency has been since late 2020....
Neither Bankman-Fried nor FTX immediately responded to requests for comment.
As of Saturday night, Elliptic’spostabout the possible theft pegged the number at nearly $500 million. Exactly what happened is also unclear, the Times reported. FTX didn’t respond to a request for comment Saturday on the apparently missing funds. FTX filed for bankruptcy protectionon Friday, after the stability of its business had been questioned.
Theembattled former CEOwill speak with DealBook founder Andrew Ross Sorkin, who confirmed the interviewin a tweetWednesday.
Former FTX CEO Sam Bankman-Fried resigned and issaid to be in the Bahamas. Ray previously took control of Enron during itsscandal and bankruptcy in the early 2000s. It’ll now be Ray’s task to guide FTX through the bankruptcy process andthe investigations into the company. FTX also reportedly experienced a possible hack in whichhundreds of millions of dollars in cryptocurrency apparently vanished. It remains to be seen if FTX customers will get back the money they deposited with the exchange....
