Facebook Inc. could be fined as much as $1.63 billion by the European Union over a data breach revealed Friday that compromised the accounts of 50 million users. The Wall Street Journal suggested the figure Sunday, reporting that Ireland’s Data Protection Commission, which is charged with investigating Facebook on behalf of the EU, has demanded information from ...

Elon Musk is out as the chairman of Tesla Inc., but will remain chief executive, as part of a settlement of a lawsuit filed by the U.S. Securities and Exchange Commission that threatened to ban him as a director or executive of any public company. The suit, filed in federal district court in the Southern District ...

The U.S. Federal Bureau of Investigation and Department of Homeland Security have been called in to investigate a ransomware attack that has crippled the computer network of the Port of San Diego. In a statement statement Wednesday, the Port Authority said that experienced “a serious cybersecurity incident that has disrupted the agency’s information technology systems.” The ...

Content delivery network provider Cloudflare Inc. is seeking to disrupt the domain name registration market with a new service that promises to only charge the wholesale cost, without profit, for domain names. Cloudflare Registrar, pitched Thursday as “domain registration you can love,” sees the company offers support for .com, .net and hundreds of other top ...

SEBA Crypto AG, a Swiss startup founded by former UBS Group AG managers has raised 100 million Swiss francs ($102 million) in funding to build what is described as a “cryptobank.” The funding came from domestic and foreign institutional and private investors, including BlackRiver Asset Management and Summer Capital. The company is headed by former UBS managers Guido ...

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 ...