PayPal’s Stablecoin Launch Opens Floodgates for Scam Tokens; Here’s How to Identify Real PYUSD

PayPal, the US-based online payments giant, has launched PYUSD — its own stablecoin pegged to the US dollar. Banking on PayPal’s massive userbase, crypto scammers have jumped into action to use the opportunity to hunt for victims. Within the first few hours of its launch alone, a bunch of crypto tokens deceptively named around the PYUSD stablecoin, resembling its logo have been spotted by crypto market analysts. Members of the crypto community are sounding alerts to warn others about these fake tokens.

DEX Screener, a decentralised exchange scanner, claims to have spotted around 30 pairs of crypto tokens reflecting PYUSD on their tickers.

Scammers have reportedly not concentrated their token creations to any particular blockchain, exploring different options instead. At this point, PYUSD copycat tokens have already been minted on Ethereum, BNB Smart Chain, as well as Coinbase’s newest layer 2 chain — Base.

Fake cryptocurrencies are most commonly used by scammers to perform rug pulls on their victims. In these instances, scammers get investors to pour funds in their scam tokens and once they touch their estimated total, they abandon the project and flea.

In other instances, these scam tokens can be used to execute the ‘honeypot’ type of attacks, where investors are lured in to purchase the tokens in exchange for their cryptocurrencies. Later, they are not able to sell the fake tokens.

Warnings around these fake tokens have been appearing on social media.

PayPal launched its stablecoin on August 7. Announcing the stablecoin, PayPal had said, “PayPal USD is designed to contribute to the opportunity stablecoins offer for payments and is 100 percent backed by US dollar deposits, short-term US Treasuries and similar cash equivalents. PayPal USD is redeemable 1:1 for US dollars and is issued by Paxos Trust Company.”

How to Identify the Original PYUSD Stablecoin

In its official announcement, the online payments giant has clearly stated that the PYUSD can be exchanged only between wallets verified and compatible with PayPal. Resembling tokens listed with the same ticker on UniSwap or similar exchanges are highly likely to be fake tokens.


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Meta Asks Norway Court to Halt Daily Fine Imposed by Regulator Over Privacy Breaches

Meta Platforms is asking a court in Norway to stop a fine the Nordic country’s data regulator imposed on the owner of Facebook and Instagram for breaching users’ privacy, according to a court filing.

Meta Platforms will be fined 1 million crowns ($97,700) per day from August 14 over privacy breaches, Norway’s data protection authority told Reuters on Monday, in a decision that could have wider European implications.

Meta Platforms is asking for a temporary injunction against the order, according to a court filing. Its petition will be presented on August 22 during a two-day hearing.

Meta Platforms did not reply to a request for comment. The company’s Norwegian lawyer did not immediately reply to an emailed request for comment.

The Norwegian data regulator, Datatilsynet, said Meta Platforms was seeking to stop the imposition of the fine.

“They say that the court should put … a pause on our order, pending a full trial,” Tobias Judin, head of Datatilsynet’s international section told Reuters. “Datatilsynet will argue that there is no basis for an injunction.”

The regulator has said Meta cannot harvest user data in Norway, such as users’ physical locations, and use it to target advertising at them, called behavioral advertising, a business model common to Big Tech.

The fine will run until November 3. Datatilsynet can make it permanent by referring its decision to the European Data Protection Board, which has the power to do so if it agrees with the Norwegian regulator’s decision.

That could also widen the decision’s territorial scope to the rest of Europe.

Datatilsynet had yet to take this step. 

© Thomson Reuters 2023 


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Disney Creates Taskforce to Explore AI Applications Across Verticals, Bring Cost Cutting Measures

Walt Disney has created a task force to study artificial intelligence and how it can be applied across the entertainment conglomerate, even as Hollywood writers and actors battle to limit the industry’s exploitation of the technology.

Launched earlier this year, before the Hollywood writers’ strike, the group is looking to develop AI applications in-house as well as form partnerships with startups, three sources told Reuters.

As evidence of its interest, Disney has 11 current job openings seeking candidates with expertise in artificial intelligence or machine learning.

The positions touch virtually every corner of the company – from Walt Disney Studios to the company’s theme parks and engineering group, Walt Disney Imagineering, to Disney-branded television and the advertising team, which is looking to build a “next-generation” AI-powered ad system, according to the job ad descriptions.

A Disney spokesperson declined to comment.

One of the sources, an internal advocate who spoke on condition of anonymity because of the sensitivity of the subject, said legacy media companies like Disney must either figure out AI or risk obsolescence.

This supporter sees AI as one tool to help control the soaring costs of movie and television production, which can swell to $300 million (roughly Rs. 2,484 crore) for a major film release like “Indiana Jones and the Dial of Destiny” or “The Little Mermaid.” Such budgets require equally massive box office returns simply to break even. Cost savings would be realized over time, the person said.

For its parks business, AI could enhance customer support or create novel interactions, said the second source as well as a former Disney Imagineer, who declined to be identified because he was not authorized to speak publicly.

The former Imagineer pointed to Project Kiwi, which used machine-learning techniques to create Baby Groot, a small, free-roaming robot that mimics the “Guardians of the Galaxy” character’s movements and personality.

Machine learning, the branch of AI that gives computers the ability to learn without being programmed, informs its vision systems, so it is able to recognize and navigate objects in its environment. Someday, Baby Groot will interact with guests, the former Imagineer said.

AI has become a powder keg in Hollywood, where writers and actors view it as an existential threat to jobs. It is a central issue in contract negotiations with the Screen Actors Guild and the Writers Guild of America, both of which are on strike.

Disney has been careful about how it discusses AI in public. The visual effects supervisors who worked on the latest “Indiana Jones” movie emphasized the painstaking labors of more than 100 artists who spent three years seeking to “de-age” Harrison Ford so that the octogenarian actor could appear as his younger self in the early minutes of the film.

‘STEAMBOAT WILLIE’

Disney has invested in technological innovation since its earliest days. In 1928 it debuted “Steamboat Willie”, the first cartoon to feature a synchronized soundtrack. It now holds more than 4,000 patents with applications in theme parks, films, and merchandise, according to a search of the US Patent and Trademark Office records.

Bob Iger, now in his second stint as Disney’s chief executive, made the embrace of technology one of his three priorities when he was first named CEO in 2005.

Three years later, the company announced a major research and development initiative with top technology universities around the world, funding labs at the Swiss Federal Institute of Technology in Zurich and Carnegie Mellon University in Pittsburgh, Pennsylvania. It closed the Pittsburgh lab in 2018.

Disney’s US research group has developed a mixed-reality technology called “Magic Bench” that allows people to share a space with a virtual character on screen, without the need for special glasses.

In Switzerland, Disney Research has been exploring AI, machine learning, and visual computing, according to its website. It has spent the last decade creating “digital humans” that it describes as “indistinguishable” from their corporeal counterparts, or fantasy characters “puppeteered” by actors.

This technology is used to augment digital effects, not replace human actors, according to a source familiar with the matter.

Its Medusa performance capture system has been used to reconstruct actors’ faces without using traditional motion-capture techniques, and this technology has been used in more than 40 films, including Marvel Entertainment’s “Black Panther: Wakanda Forever.”

“AI research at Disney goes back a very long time and revolves around all the things you see being discussed today: Can we have something that helps us make movies, games, or conversational robots inside theme parks that people can talk to?” said one executive who has worked with Disney.

Hao Li, CEO and co-founder of Pinscreen, a Los Angeles-based company that creates AI-driven virtual avatars, said he worked on multiple research papers with Disney’s lab while studying in Zurich from 2006 to 2010.

“They basically do research on anything based on performance capture of humans, creating digital faces,” said Li, a former research lead at Disney-owned Industrial Light & Magic. “Some of these techniques will be adopted by Disney entities.”

Disney Imagineering last year unveiled the company’s first initiative in an AI-driven character experience, the D3-09 cabin droid in the Star Wars Galactic Starcruiser hotel, which answered questions on a video screen and learned and changed based on conversations with guests.

“Not only is she a great character to interact with and always available in your cabin, which I think is very cool, behind the scenes, but it’s also a very cool piece of technology,” Imagineering executive Scott Trowbridge said at the time. 

© Thomson Reuters 2023 


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Spider-Man: Across the Spider-Verse Is Now Available to Watch On-Demand on YouTube, Apple TV, Zee5, More

Spider-Man: Across the Spider-Verse is now available to stream as video-on-demand. The second chapter in fledgling Miles Morales’ multiversal escapades is now available for renting and purchase across Apple TV, Youtube Movies, Amazon Prime Video, and Zee5. Out of these, only Apple TV offers the premium Ultra HD version with Dolby Atmos audio, albeit there’s only the option for purchase at Rs. 490. An SD (standard definition) version is also available at Rs. 390, and both of them come with subtitles in several languages. On YouTube Movies, the film starts at Rs. 590 for the SD version and Rs. 820 for the 1080p full-HD print — neither platform has options to rent.

Renting Spider-Man: Across the Spider-Verse is only possible on Amazon Prime Video and Zee5, though pricing on the former is a bit strange. Both SD and HD versions are listed for Rs. 399, which doesn’t make too much sense, as the customer would rather opt for higher quality — provided they have the internet bandwidth to support it, that is. Meanwhile, the version on Zee5 doesn’t mention what version you’ll get, but seeing the Rs. 349 price tag and its targeted audience being Indians (regional pricing), I’m inclined to believe that it will be HD quality. The platform also offers audio in 10 regional languages — same as theatrical — ranging between English, Hindi, Tamil, Telugu, Marathi, Malayalam, Bengali, Kannada, Punjabi, and Gujarati.

Spider-Man: Across the Spider-Verse dominated the box office, collecting $683.8 million (about Rs. 56,62 crore) globally and setting a milestone as the highest-grossing Sony Pictures Animation film. If the numbers and reviews aren’t convincing enough, IGN has exclusively dropped the first 10 minutes of the film, which should give you a general vibe of the film. In it, Miles Morales (Shameik Moore), now reunited with Gwen Stacy (Hailee Steinfeld), is catapulted across the multiverse and trapped amongst an interdimensional web of Spider-People to solve a major conspiracy. When leader Miguel O’Hara/ Spider-Man 2099 (Oscar Isaac) comes up with a dangerous choice to save the multiverse, Miles rejects it, spawning an all-out war in which he leaps across dimensions, getting mauled by a Spider-Cat and more.

The Spot (Jason Schwartzman) appears to be the mysterious force behind the multiverse’s doom, thanks to his special abilities that let him open and travel across portals. Other key players include Daniel Kaluuya as Spider-Punk, Issa Rae as Jessica Drew/ Spider-Woman, and Jake Johnson as the original Spider-Man/ Peter Parker. Meanwhile, Karan Soni voices Pavitr Prabhakar/ Spider-Man India, whose universe Mumbattan is presented through a watercolour style mimicking old Indian comic books. There’s a total of six main art styles in the film, in addition to the wacky doodle sketches that add a ton more personality.

Spider-Man: Across the Spider-Verse is now available as VOD on YouTube Movies, Apple TV, Amazon Prime Video, and Zee5. It’s also still playing in select theatres across the country.


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Worldcoin Office Searched in Nairobi, Kenyan Authorities Confiscate Stored Records: Report

Kenya’s scepticism around the controversial Web3 project, Worldcoin, seems to be growing with each passing day. Over the weekend, Kenyan authorities reportedly raided the office of Worldcoin in Nairobi, only to confiscate all the stored information of the users who registered with the project. The development followed an official government order there, which suspended Worldcoin-related activities indefinitely, for the time being. The controversial project is the brainchild of Sam Altman, the founder of ChatGPT parent firm, OpenAI.

Officially launched on July 24, Altman’s Worldcoin project is aiming to create a network of ‘real humans’ and no robots. The San Francisco, US-based company is looking to assign ‘World IDs’ to global citizenry. Altman aims to give real humans a ‘global identity of personhood’, which will eliminate the need for them to reveal their personal details just to interact with websites. To do so, the project requires people to submit their eye scans as a biometric verification, which Worldcoin is obtaining via its own spherical machine, called the Orb.

As part of its raid, the Kenyan law enforcement officers have reportedly seized Worldcoin’s records and machines. The confiscated items have been taken to Kenya’s Directorate of Criminal Investigations headquarters for due analysis.

Tools for Humanity, the parent company of Worldcoin, has been accused of not disclosing its true intentions when it registered in Kenya. Immaculate Kassait, the commissioner of Kenya’s Office of the Data Protection, is overseeing the investigations.

The Kenyan authorities shifted its focus to Worldcoin after hundreds of people began queuing to get registered for the project since its official launch in July. All registered nationals have submitted their iris scans into the Orbs. Videos of them doing so have emerged on social media.

People who sign up for their World IDs are also eligible to claim the WLD token, which is the native cryptocurrency of the Ethereum blockchain-based project. In the backdrop of this ongoing Worldcoin controversy, the pricing of the WLD token dropped from $2.26 (roughly Rs. 187) on August 4, to $1.92 (roughly Rs. 158) on August 8.

Crypto founders and industry insiders remain sceptical of Worldcoin as well. Sathvik Vishwanath, Co-Founder and CEO of Unocoin crypto exchange, said the Worldcoin project raises “serious privacy concerns” over its collection of biometric data. “Although the project team, led by OpenAI CEO Sam Altman, said Orb does not store user data, sceptics remained wary,” Vishwanath added.

Worldcoin has reached India as well. Several metro stations in and around the National Capital Region (NCR) and some spots in tech hub Bengaluru have Worldcoin booths with people queuing up for registrations.

Indian authorities have not yet joined France, Germany, and Kenya in opening probes against Worldcoin.


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Global Video Gaming Revenue Expected to Hit $187.7 Billion in 2023 as Console Sales Rise by Over 7 Percent

The global video games market would return to growth in 2023 on the back of strong sales of consoles such as Sony’s PlayStation 5, according to gaming market research firm Newzoo.

Newzoo said it expects industry revenue to rise 2.6 percent to $187.7 billion (roughly Rs. 15,54,231 crore) in 2023, driven by a 7.4 percent rise in console sales in the year. Gaming revenue fell 5 percent in 2022, according to the research firm’s data.

“Many highly anticipated delayed titles launched in 2023, with more scheduled for release in H2 (second half), and the supply of new consoles has finally caught up to demand,” said Newzoo analyst Tom Wijman.

PlayStation maker Sony said in July it expects to sell 25 million units of PS5 consoles this year, a record for any PlayStation devices, as supply chain issues ease.

Market research firm Circana said US consumer spending on video game hardware was up by 23 percent in the first half of 2023. But spending on video game content was flat during the period, as gamers stuck with proven franchises such as Activision Blizzard’sCall of Duty“.

Earlier this month, “Apex Legends” publisher Electronic Arts forecast downbeat net bookings for the September quarter due to lower in-game spending on items such as character skins. However, the company maintained its 2024 bookings forecast as it expects to debut “EA Sports FC”, its football franchise game, in September.

Newzoo expects mobile games to account for nearly 50 percent of global gaming revenues in 2023 even as privacy policies of Apple and Google hamper their monetization.

Newzoo also said cloud gaming, which allows gamers to stream titles directly on devices irrespective of their technical specifications, has the potential to rack up 43.1 million paying users by the end of the year. 

© Thomson Reuters 2023   


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Call of Duty: Modern Warfare III Release Date Set for November 10

This year’s Call of Duty has been revealed as Modern Warfare III, and it’s coming November 10. Publisher Activision dropped a brief teaser, featuring an abstract mosaic of familiar characters from the franchise — Captain Price and Vladimir Makarov — and a voiceover saying, “Never bury your enemies alive.” There’s also the mention of ‘heads of snakes,’ which possibly alludes to the ultranationalist Russian Makarov, who also served as the main antagonist of the original MW3 (2011). Sledgehammer Games is taking the lead on developing the sequel, which is part of a trilogy of Modern Warfare soft reboots, which started back in 2019.

Call of Duty: Modern Warfare 3’s release date matches a report from May, which suggested that Activision was planning a reveal sometime in early August, also implying that it was a continuation of Call of Duty: Modern Warfare 2’s arc. The publisher had originally decided against dropping a standalone title this year, skipping its annual release cycle, and instead focusing on a ‘premium expansion’ that included a campaign DLC and a classic map pack. As per Bloomberg games reporter Jason Schreier, the company had a change of heart earlier this year and decided to launch it as a full-price game. The teaser is short on details, though a recent tweet from the Call of Duty account seems to indicate that weapons and operators from Modern Warfare 2 would carry over to the sequel.

This is big news for the multiplayer crowd as they won’t have to leave behind unlocked rewards and paid items from the older instalment. The method seems quite similar to a live-service experience, which was suggested by an Activision spokesperson in 2022, so it gets regularly updated with new content. Sledgehammer Games was previously in charge of developing Call of Duty: Vanguardreceived poorly — with additional support from Treyarch and Infinity Ward. The publisher rotates between these three studios for its annual releases, breaking the cycle last year and moving Treyarch’s planned title from 2023 to 2024.

Reports also claimed that Call of Duty Modern Warfare 3 would get at least two beta weekends for multiplayer testing, with the first one solely aimed at PlayStation — set to run from October 6–10. This special treatment may change, taking Microsoft’s ongoing buyout of Activision for $69 billion (about Rs. 5,71,316 crore) into consideration. The second beta weekend will allegedly run from October 12–16 and grants entry to Xbox and PC players, as well. Keeping in tradition, a campaign early access is also expected for pre-order customers, reportedly going live on November 2. For now, there’s no telling if MW3 would also fall under the $70 category, though the franchise will be available on PlayStation for another 10 years, at least.

Activision hasn’t confirmed platforms yet, but Call of Duty Modern Warfare 3 is expected to make its way to PC, PS4, PS5, Xbox One, and Xbox Series S/X.


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Norway Regulator to Fine Facebook Parent Meta $98,500 per Day Over Privacy Breaches From August 14

Facebook owner Meta Platforms will be fined 1 million crowns ($98,500) per day over privacy breaches from August 14, Norway’s data protection authority told Reuters on Monday, a decision that could have wider European implications.

The regulator, Datatilsynet, had said on July 17 that the company would be fined if it did not address privacy breaches the regulator had identified.

Meta Platforms did not immediately reply to a request for comment.

Datatilsynet had said Meta cannot harvest user data in Norway, such as users’ physical locations, and use it to target advertising at them, called behavioral advertising, a business model common to Big Tech.

It had until August 4 to prove to the regulator that it had addressed the issue.

“As of next Monday, a daily fine of 1 million crowns will start to apply,” Tobias Judin, head of Datatilsynet’s international section told Reuters.

The fine will run until November 3. Datatilsynet can make it permanent by referring its decision to the European Data Protection Board, which has the power to do so if it agrees with the Norwegian regulator’s decision.

That could also widen the decision’s territorial scope to the rest of Europe. Datatilsynet had yet to take this step.

Meta last week said it intends to ask users in the European Union for their consent before allowing businesses to target advertising based on what they view on its services such as Facebook and Instagram.

Judin said that step was not enough. Meta had to stop the processing of personal data immediately, and until that consent mechanism was up and running.

“According to Meta, this will take several months, at the very earliest, for them to implement … And we don’t know what the consent mechanism will look like,” Judin said.

“And in the (meantime), peoples’ rights are being violated, every single day.”

Meta said the change was made to address regulatory requirements in the region and stems from an order in January by Ireland’s Data Protection Commissioner, Meta’s lead EU regulator, to reassess the legal basis for how it targets ads.

Norway is not a member of the European Union but is part of the European single market. 

© Thomson Reuters 2023 


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Meet with Samsung Next and other pivotal partners at TechCrunch Disrupt 2023

TechCrunch Disrupt 2023, which runs September 19–21 in San Francisco, is the startup world’s big tent. It draws founders, venture partners, CEOs, engineers, scientists, policy makers, researchers and entrepreneurs, product managers, CMOs, corporate M&A directors, MBA candidates and business developers who form the entire backbone of the startup ecosystem.

The basic gist: It’s where startups go to grow. And it’s where you’ll find our many partner companies to help you realize that growth.

Avoid the price hike: Buy your pass now, and you’ll save up to $600. Prices increase on August 11 at 11:59 p.m. PDT. Who doesn’t like to save money?

Peruse the pivotal partners at TechCrunch Disrupt 2023

We’re fortunate to partner with some of the startup world’s leading companies to help make magic at Disrupt. We say fortunate because they’re passionate, thoroughly engaged and hands-on. They consistently deliver highly relevant content, educational expertise, resources and connection to the event. Their participation elevates, engages and supports early-stage founders.

You’ll find earlier partner announcements from April, May and June, and today we’re announcing another fantastic group of our partners ready to help you move your early-stage startup to the next level.

The AI Stage

Kognitos

Breakout sessions

Worthix

Builder Stage

The Fintech Stage

Navan

The SaaS Stage

Katmai Tech

Roundtable discussions

Respondology

The TechCrunch Disrupt exhibition floor

And hey — the lanyard to which you’ll clip your essential Disrupt pass? Courtesy of Lucid Software. It takes a village, people!

TechCrunch Disrupt 2023 takes place on September 19–21 in San Francisco, and our partners will help make it the best one yet. Don’t forget, prices go up on May 12 at 11:59 p.m. PDT. Buy your pass now and save.

Is your company interested in sponsoring or exhibiting at TechCrunch Disrupt 2023? Contact our sponsorship sales team by filling out this form.

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CMF by Nothing Tipped to Have Received BIS Approval for Smartwatch, Earphones in India

Nothing was previously reported to have announced the launch of its sub-brand names CMF by Nothing. The new startup aims at providing access to more affordable devices. Now, it seems like India will be one of the First Nations where CMF by Nothing will be launching its upcoming products. A new tips hints that the UK-based company has already registered two products in India. These products — smartwatch and headphones — have also been reportedly approved by the Bureau of Indian Standards (BIS).

A post on X by tipster Sudhanshu Ambhore (@Sudhanshu1414) shares images of two products on the BIS certification site.The products mentioned are B163, which are described as wireless earphones, and D395, mentioned under smartwatch category. While the smartwatch seems to have received its approval on June 16, the earphones have been granted inclusion on July 23. 

Previously, tipster Mukul Sharma (@stufflistingsspotted a power adopter listed by CMF by Nothing on the BIS certification site. The products, listed as C332, was suggested to be a charger for the smartwatch by the tipster. 

There are no further details on the specifications or the design of the products. While Nothing has previously launched its TWS earbuds in India, the smartwatch from CMF by Nothing will be the first one from the company to be launched in the country. However, Nothing CEO Carl Pei has previously stated that both companies will be handled by separate teams.

Nothing previously launched the Nothing Ear 2, Nothing Ear 1 and Nothing Ear Stick (TWS) earbuds in India. While the Ear 2 are priced at Rs. 8,999, Nothing Ear Stick costs Rs. 4,999 in the country. 

The company has recently launched Nothing Phone 2, which starts at Rs. 44,999. The smartphone is powered by a Snapdragon 8+ Gen 1 SoC, along with up to 12GB of RAM and up to 512GB of inbuilt storage. It is backed by a 4,700mAh battery that support 45W PPS wired, 15W Qi wireless, and 5W wireless reverse charging. Nothing Phone 2 sports a dual rear camera setup led by a 50-megapixel primary camera. 


Will the Nothing Phone 2 serve as the successor to the Phone 1, or will the two co-exist? We discuss the company’s recently launched handset and more on the latest episode of Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
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