Erratic genius Elon Musk’s days as the head of Tesla Inc. may be numbered as the U.S. Securities and Exchange Commission today not only sued him but is seeking to have him banned as an officer or director of any public company. The lawsuit, filed in federal district court in the Southern District of New ...

Chinese cryptocurrency hardware maker and miner Bitmain Technologies Inc. is going public, filing paperwork today for an initial public offering with The Stock Exchange of Hong Kong. Founded in 2013, Bitmain manufactures its own cryptocurrency mining equipment and also operates the world’s largest bitcoin mining operation. Mining involves computers processing transactions on the bitcoin blockchain with a reward ...

Ride-hailing startup Lyft Inc. is booming as it heads toward an initial public offering next year, according to a report published Wednesday. Quoting internal Lyft documents, The Information reported that Lyft more than doubled its revenue in the first half of the year, to $909 million, while at the same time the growth of its losses ...

Bitcoin and blockchain startup Circle Internet Financial Inc. is the latest company to jump on the stablecoin bandwagon with the launch USD//Coin (USDC), a cryptocurrency linked to the price of the U.S. dollar. Announced by the company in May, USDC has been developed in conjunction with the company’s CENTRE affiliate consortium, a new group developed to provide independent oversight ...

Machine learning cybersecurity startup Darktrace Ltd. said today it has raised $50 million in new late-stage funding on a valuation of $1.65 billion to further international expansion and development. The Series E round was led by Vitruvian Partners and included existing investors KKR and 1011 Ventures. Founded in 2013, Darktrace pitches itself as the leader in “Enterprise Immune System Technology” with a cybersecurity ...

Payment technology company Stripe Inc. today said it has raised $245 million in new funding on a massive $20 billion valuation as it moves toward a possible initial public offering in 2019 or 2020. The round was led by Tiger Global Management and included DST Global, Sequoia, Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst and ...

Online women’s fashion retailer SHEIN Group Ltd. is the latest victim of hacking ,with 6.42 million customer records stolen. Waiting a month to tell customers, SHEIN said that it had become aware on Aug. 22 “that certain personally identifiable information of its customers was stolen during a concerted criminal cyberattack on its computer network.” The ...

A former U.S. National Security Agency employee has been sentenced to five and a half years in prison for taking home classified information that was then allegedly obtained by Russian government agents. Nghia Hoang Pho, 68 from Ellicott City, Maryland and previously a coder for the NSA’s Tailored Access Operations unit, a unit tasked with hacking computer systems, pleaded ...

In a case of potential irony given that Monero is the favored cryptocurrency of hackers worldwide, a recently discovered bug in its code could have allowed bad actors to obtain funds from exchanges illegally. Described as a “burning bug,” the vulnerability potentially allowed a user to deliberately “burn” Monero, also known as XMR, by sending multiple payments ...

Google LLC has partially backflipped its stance on cryptocurrency advertising, rescinding a decision to ban all cryptocurrency advertising that it announced in March. The ban, which went into effect in June, prohibited all cryptocurrency advertising over concerns about illegal activities. The ban extended across all Google-owned platforms, including YouTube, its DoubleClick web ad serving system and ...