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In another sign that the Trump administration will be friendlier toward the cryptocurrency industry, the Securities and Exchange Commission is dropping an investigation into Robinhood. The agency has informed the company that it wont move forward with any enforcement action, Robinhood said on Monday. In May last year, Robinhood received a Wells Notice from the SEC indicating that the agencys staff was going to recommend enforcement action against it. The company had faced potential charges of violating securities law through its crypto listings and sales. Under the Biden administration, there was some momentum for cryptocurrency to be considered and regulated as securities; Trump's policy goals seem to signal the opposite. "Robinhood Crypto always has and will always respect federal securities laws and never allowed transactions in securities," Dan Gallagher, Robinhoods chief legal, compliance and corporate affairs officer, said in a statement. "As we explained to the SEC, any case against Robinhood Crypto would have failed. We appreciate the formal closing of this investigation, and we are happy to see a return to the rule of law and commitment to fairness at the SEC." Robinhood added that it was looking forward to working with the SEC to develop a clearer and more "tailored" regulatory framework for digital assets. The company introduced its crypto wallet in 2022, but it has faced regulatory trouble. New York officials handed the crypto side of Robinhood's business a $30 million fine in 2022 and in 2024, the company reached a $3.9 million settlement with California over crypto withdrawal claims. Meanwhile, just last month, Robinhood agreed to pay $45 million to settle SEC charges related to record keeping, trade reporting and other alleged rule violations. Last week, Coinbase said the SEC was dropping a case against it. In a lawsuit filed during the Biden administration, the agency had accused that company of running an unregistered securities exchange.This article originally appeared on Engadget at https://www.engadget.com/big-tech/the-sec-is-dropping-an-investigation-into-robinhood-160629179.html?src=rss
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Google's Veo 2 model was announced last December, and now we have an idea of what using it will cost. According to its pricing page: 50 cents per second of footage. Veo 2 is presently limited to two-minute clips in up to 4K resolution a fair sight more than the 20-second, 1080p clips generated by ChatGPT's Sora model. It's somewhat more difficult to compare the two on pricing as Sora uses a subscription-based approach. The staggering $200 ChatGPT Pro plan entitles a user to 500 videos per month, while the Plus plan caps things at 50 videos and hobbles the maximum quality and length to 720p and five seconds, respectively. Veo 2 users, meanwhile, just pay piecemeal whenever they choose. Big-budget feature films cost many multiples of Veo's pricing per second to produce, but that's not really what the model is currently seeking or able to compete with. Google is already testing Veo 2 as a means to quickly generate backgrounds for YouTube Shorts through its Dream Screen feature. It (and Sora) are also likely to take a bite out of the stock footage industry, where high-quality clips can cost 100 times what a Veo 2 clip would. Of course, those clips are typically free of weird artifacts and mangled hands.This article originally appeared on Engadget at https://www.engadget.com/ai/each-second-of-googles-veo-2-ai-video-footage-will-cost-50-cents-155419146.html?src=rss
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Apple introduced its first in-house cellular modem, the C1, last week with the announcement of the not-so-budget iPhone 16e, and while it didnt get into too much detail about it, the company reportedly has some big plans for future iterations. According to Bloombergs Mark Gurman, Apple intends to eventually meld the modem component into the main processor. Integrating the modem into the main processor could have energy and cost benefits, but that design is still a ways off. Well likely see the C2 and C3 without it first, which the company is already testing according to Gurman, and the integrated design wont follow until 2028 at the earliest During its unveiling, Apple called the new C1 modem its most power-efficient modem ever in an iPhone. The $599 iPhone 16e also has an A18 chip (but with four GPU cores) and supports Apple Intelligence, even if thats not what people actually wanted out of it. This article originally appeared on Engadget at https://www.engadget.com/mobile/smartphones/apple-reportedly-plans-to-combine-its-modem-with-future-processors-as-a-single-package-225159519.html?src=rss
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