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Back in December last year Injective Protocol, launched the testnet for its DeFi protocols for cross-chain derivatives trading, with backing from giant crypto exchange Binance. It has now raised $10 million in a “party” funding round. Participating in the round was Pantera Capital, BlockTower, Hashed, Cadenza Ventures (formerly BitMex Ventures), CMS, and QCP Capital. Billionaire NBA team owner and Shark Tank judge Mark Cuban has also made a strategic investment into Injective, according to my sources.
Injective’s main competitors (centralized and decentralized exchanges) include CME Group, BitMEX, LedgerX and OKEx, among others. The advantage of the approach used by Injective (it says) combines the advantages of decentralized exchanges: resistance to front running, scams, and hacks, with the speed, low transaction fees, and no gas fees associated with centralized platforms. Developers can also create their own derivatives and markets to trade.
Eric Chen, CEO of Injective Protocol said in a statement: “Legacy institutions and practices create a number of artificial delays and middlemen that prevent innovation in the financial markets ecosystem. At Injective, our goal is to enable an unparalleled decentralized trading experience, whereby retail traders globally can for the first time access limitless markets without the typical predatory fees and slow transaction times”.
The background to this is that Injective is essentially trying to build a decentralized competitor to Robinhood, because their platform allows the creation of synthetic tokens that represent stock in public companies like Apple and indices like S&P 500. This means meaning trading can happen 24/7 with instant finalization, as DeFi promises.
“Why do I invest in Injective: the whole stop out because of the capital requirements, Robinhood didn’t do it on purpose to hurt traders, they just didn’t have enough equity and they would have gone bankrupt because they had too many customers. But if you’re doing it in a decentralized manner every investor gets to see how much Injective has of all of this, there’s no hiding it and that creates an opportunity”, said Mark Cuban on his investment in Injective.
The potential here is that brokers wouldn’t be able to block trades on certain stocks, as they did with GameStop, as pointed out by Cuban above.
Injective’s team is drawn from Stanford University, came up with its project in 2018, and Chen was working at hedge funds and worked in cryptographic research at a blockchain-focused fund.
Today, Apple is holding a (virtual) keynote at 10 AM PT (1 PM in New York, 6 PM in London, 7 PM in Paris). And you’ll be able to watch the event right here as the company is streaming it live.
Rumor has it that Apple plans to unveil a brand new iPad Pro. In particular, Apple’s tablet could get a big display update as the company could switch to mini-LED displays. You can expect some better specifications as well.
But that’s not all, we expect to see a refreshed iPad mini. Apple could also be ready to release AirTags after many months of rumors and leaks. As always, the only way to find out is by watching the event.
You can watch the live stream directly on this page, as Apple is streaming its conference on YouTube.
If you have an Apple TV, you don’t need to download a new app. You can open the Apple TV app and find the Apple Events section. It lets you stream today’s event and rewatch old ones.
And if you don’t have an Apple TV and don’t want to use YouTube, the company also lets you live stream the event from the Apple Events section on its website. This video feed now works in all major browsers — Safari, Firefox, Microsoft Edge and Google Chrome.
One after another, Chinese tech giants have announced their plans for the auto space over the last few months. Some internet companies, like search engine provider Baidu, decided to recruit help from a traditional carmaker to produce cars. Xiaomi, which makes its own smartphones but has stressed for years it’s a light-asset firm making money from software services, also jumped on the automaking bandwagon. Industry observers are now speculating who will be the next. Huawei naturally comes to their minds.
Huawei seems well-suited for building cars — at least more qualified than some of the pure internet firms — thanks to its history in manufacturing and supply chain management, brand recognition, and vast retail network. But the telecom equipment and smartphone maker repeatedly denied reports claiming it was launching a car brand. Instead, it says its role is to be a Tier 1 supplier for automakers or OEMs (original equipment manufacturers).
Huawei is not a carmaker, the company’s rotating chairman Eric Xu reiterated recently at the firm’s annual analyst conference in Shenzhen.
“Since 2012, I have personally engaged with the chairmen and CEOs of all major car OEMs in China as well as executives of German and Japanese automakers. During this process, I found that the automotive industry needs Huawei. It doesn’t need the Huawei brand, but instead, it needs our ICT [information and communication technology] expertise to help build future-oriented vehicles,” said Xu, who said the strategy has not changed since it was incepted in 2018.
There are three major roles in auto production: branded vehicle manufacturers like Audi, Honda, Tesla, and soon Apple; Tier 1 companies that supply car parts and systems directly to carmakers, including established ones like Bosch and Continental, and now Huawei; and lastly, chip suppliers including Nvidia, Intel and NXP, whose role is increasingly crucial as industry players make strides toward highly automated vehicles. Huawei also makes in-house car chips.
“Huawei wants to be the next-generation Bosch,” an executive from a Chinese robotaxi startup told TechCrunch, asking not to be named.
Huawei makes its position as a Tier 1 supplier unequivocal. So far it has secured three major customers: BAIC, Chang’an Automobile, and Guangzhou Automobile Group.
“We won’t have too many of these types of in-depth collaboration,” Xu assured.
Arcfox, a new electric passenger car brand under state-owned carmaker BAIC, debuted its Alpha S model quipped with Huawei’s “HI” systems, short for Huawei Inside (not unlike “Powered by Intel”), during the annual Shanghai auto show on Saturday. The electric sedan, priced between 388,900 yuan and 429,900 yuan (about $60,000 and $66,000), comes with Huawei functions including an operating system driven by Huawei’s Kirin chip, a range of apps that run on HarmonyOS, automated driving, fast charging, and cloud computing.
Perhaps most eye-catching is that Alpha S has achieved Level 4 capabilities, which Huawei confirmed with TechCrunch.
That’s a bold statement, for it means that the car will not require human intervention in most scenarios, that is, drivers can take their hands off the wheels and nap.
There are some nuances to this claim, though. In a recent interview, Su Qing, general manager for autonomous driving at Huawei, said Alpha S is L4 in terms of “experience” but L2 according to “legal” responsibilities. China has only permitted a small number of companies to test autonomous vehicles without safety drivers in restricted areas and is far from letting consumer-grade driverless cars roam urban roads.
As it turned out, Huawei’s “L4” functions were shown during a demo, during which the Arcfox car traveled for 1,000 kilometers in a busy Chinese city without human intervention, though a safety driver was present in the driving seat. Automating the car is a stack of sensors, including three lidars, six millimeter-wave radars, 13 ultrasonic radars and 12 cameras, as well as Huawei’s own chipset for automated driving.
“This would be much better than Tesla,” Xu said of the car’s capabilities.
But some argue the Huawei-powered vehicle isn’t L4 by strict definition. The debate seems to be a matter of semantics.
“Our cars you see today are already L4, but I can assure you, I dare not let the driver leave the car,” Su said. “Before you achieve really big MPI [miles per intervention] numbers, don’t even mention L4. It’s all just demos.”
“It’s not L4 if you can’t remove the safety driver,” the executive from the robotaxi company argued. “A demo can be done easily, but removing the driver is very difficult.”
“This technology that Huawei claims is different from L4 autonomous driving,” said a director working for another Chinese autonomous vehicle startup. “The current challenge for L4 is not whether it can be driverless but how to be driverless at all times.”
L4 or not, Huawei is certainly willing to splurge on the future of driving. This year, the firm is on track to spend $1 billion on smart vehicle components and tech, Xu said at the analyst event.
A 5G future
Many believe 5G will play a key role in accelerating the development of driverless vehicles. Huawei, the world’s biggest telecom equipment maker, would have a lot to reap from 5G rollouts across the globe, but Xu argued the next-gen wireless technology isn’t a necessity for self-driving vehicles.
“To make autonomous driving a reality, the vehicles themselves have to be autonomous. That means a vehicle can drive autonomously without external support,” said the executive.
“Completely relying on 5G or 5.5G for autonomous driving will inevitably cause problems. What if a 5G site goes wrong? That would raise a very high bar for mobile network operators. They would have to ensure their networks cover every corner, don’t go wrong in any circumstances and have high levels of resilience. I think that’s simply an unrealistic expectation.”
Huawei may be happy enough as a Tier 1 supplier if it ends up taking over Bosch’s market. Many Chinese companies are shifting away from Western tech suppliers towards homegrown options in anticipation of future sanctions or simply to seek cheaper alternatives that are just as robust. Arcfox is just the beginning of Huawei’s car ambitions.
Surprise! It’s another Apple Event. Gone are the days of getting a few weeks’ notice before these events now that they’re entirely virtual (at least until 2022, most likely). Instead, the company just dropped the news last week.
Thankfully, there have been plenty of rumors leading up to tomorrow’s big event — and perhaps even a few hints in the invite itself. After skipping last year’s spring event, due to cresting COVID-19 numbers in the U.S., the company has grown much more comfortable dropping semi-regular livestreamed events. As ever, we’ll be covering the event as it unfolds, starting at 10AM PT/1PM ET. But here’s what we expect to see, along with the customary high-production-value sweeping-drone transitions.
The closest thing we have to a surefire bet is the arrival of new iPads, keeping in line with what looks to be a finger-drawn image on the invite. Specifically, the iPad Pro is leading the way. The high-end tablet has been rumored to be getting a refresh at some point this season, so no time like the present.
The biggest news is likely to be the addition of a mini-LED display for the 12.9-inch model (a refresh to the 11-inch is coming sometime down the road). Benefits include increased brightness, better battery life and less potential for image burn-in. The tech would arrive in the place of the OLED currently found on iPhone models.
The improved screen technology is said to add a bit of thickness to the design, which otherwise is largely unchanged. Supply constraints could ultimately put a damper on availability, so there’s a possibility that the product could be announced tomorrow, but delayed for a later date.
There’s likely to be a processor update, as well. Rumor has it that the A14X will utilize the same technology that forms the foundation of the M1 chip found on recent Macs. That could, in turn, bring a real big performance bump.
At the other end of the spectrum is the iPad mini. The 8.4-inch tablet would be getting its first major boost in two years. The updates are said to be less pronounced than on the Pro. The classic iPad design language will remain, though the device is said to be getting a performance boost courtesy of new chips. A new Apple Pencil is rumored to be on the way, as well, though details are scarce.
And could this be the event where Apple finally gives the world AirTags? All signs point to “definitely maybe.” After several delays, the company’s Tile competitor is said to finally be arriving. At the very least, the timing makes sense. After all, the company just opened up third-party “Find My” access, along with a bunch of compatible devices. That includes direct competitor, the Chipolo ONE Spot.
Also on the maybe pile is a new Apple TV featuring a Find My compatible remote. That seems like a slam dunk, as one of the most frequently lost products in history. With Apple on a two-year line-wide refresh, some new silicon Macs could be on the list. The most likely candidate? At the moment it seems to be a long-awaited refresh to the iMac line.
The era of cloud gaming hasn’t arrived with the intensity that may have seemed imminent a couple years ago when major tech platforms announced their plays. In 2021, the market is still pretty much non-existent despite established presences from nearly all of tech’s biggest players.
Microsoft has been slow to roll out its Xbox Cloud Gaming beta to its users widely across platforms, but that’s likely because they know that, unlike other upstart platforms, there’s not a huge advantage to them rushing out the gate first. This week, the company will begin rolling out the service on iOS and PC to Game Pass Ultimate users, sending out invited to a limited number of users and scaling it up over time.
“The limited beta is our time to test and learn; we’ll send out more invites on a continuous basis to players in all 22 supported countries, evaluate feedback, continue to improve the experience, and add support for more devices,” wrote Xbox’s Catherine Gluckstein in a blog post. “Our plan is to iterate quickly and open up to all Xbox Game Pass Ultimate members in the coming months so more people have the opportunity to play Xbox in all-new ways.”
The service has been available in beta for Android users since last year but it’s been a slow expansion to other platforms outside that world.
A big part of that slowdown has been the result of Apple playing hardball with cloud gaming platform providers, whose business models represent a major threat to App Store gaming revenues. Apple announced a carve-out provision for cloud-gaming platforms that would maintain dependency on the App Store and in-app purchase frameworks but none of the providers seemed very happy with Apple’s solution. As a result, Xbox Cloud Gaming will operate entirely through the web on iOS inside mobile Safari.
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The era of cloud gaming hasn’t arrived with the intensity that may have seemed imminent a couple years ago when major tech platforms announced their plays. In 2021, the market is still pretty much non-existent despite established presences from nearly all of tech’s biggest players.
Microsoft has been slow to roll out its Xbox Cloud Gaming beta to its users widely across platforms, but that’s likely because they know that, unlike other upstart platforms, there’s not a huge advantage to them rushing out the gate first. This week, the company will begin rolling out the service on iOS and PC to Game Pass Ultimate users, sending out invited to a limited number of users and scaling it up over time.
“The limited beta is our time to test and learn; we’ll send out more invites on a continuous basis to players in all 22 supported countries, evaluate feedback, continue to improve the experience, and add support for more devices,” wrote Xbox’s Catherine Gluckstein in a blog post. “Our plan is to iterate quickly and open up to all Xbox Game Pass Ultimate members in the coming months so more people have the opportunity to play Xbox in all-new ways.”
The service has been available in beta for Android users since last year but it’s been a slow expansion to other platforms outside that world.
A big part of that slowdown has been the result of Apple playing hardball with cloud gaming platform providers, whose business models represent a major threat to App Store gaming revenues. Apple announced a carve-out provision for cloud-gaming platforms that would maintain dependency on the App Store and in-app purchase frameworks but none of the providers seemed very happy with Apple’s solution. As a result, Xbox Cloud Gaming will operate entirely through the web on iOS inside mobile Safari.
Apple will reinstate Parler on its App Store following its multi-month ban, according to a letter Apple has sent to Sen. Mike Lee and Rep. Ken Buck, which was made public this morning via a post on Congressman Buck’s Twitter. TechCrunch also obtained the letter from Apple directly to confirm. The lawmakers had earlier written to Apple on March 31, 2021 to ask for additional information about why the app, which is heavily favored by conservatives, had been removed from the App Store. Apple’s response explains how Parler violated its policies but said it [Apple] has engaged in extensive conversions with Parler’s team since the app’s removal. It also says Parler’s proposed updates to the app, its content and its moderation practices will allow it to be approved for reinstatement to the App Store immediately update its release.
On March 31, @SenMikeLee and I sent a letter demanding answers about why Apple removed Parler from the App Store.
Today, we received a response: Parler will be reinstated on the App Store. Huge win for free speech. pic.twitter.com/FQBDSSSFGk
Google and Amazon also quickly banned Parler from their respective platforms after the Capitol riot.
In Apple’s case, the company had first given Parler notice the app would be removed unless the company submitted a content moderation improvement plan. But Parler’s then-CEO John Matze posted to his own Parler account that he would not cave to Apple’s ultimatums and the app, having failed to meet Apple’s requirements, was banned. In the weeks that followed, Matze was fired by Parler’s board, controlled by Republican Party donor Rebekah Mercer.
Parler has been working to obtain re-entry to the App Store since its removal, but those efforts continued to fall short. Bloomberg reported last month, for example, that Parler had submitted new guidelines in February that were insufficient to comply with the App Store rules due to issues with violating content. That letter, addressed to Parler’s chief policy officer on February 25, stated: “There is no place for hateful, racist, discriminatory content on the App Store.”
According to Apple’s new letter, released today, things have changed. It says that Apple has now informed Parler as of April 14, 2021 that its proposed moderation practices will qualify it for reinstatement. The letter, signed by Timothy Powderly, Apple’s senior director of Government Affairs in the Americas, says:
In the period since Apple removed the Parler app from the App Store, Apple’s App Review Team has engaged in substantial conversations with Parler in an effort to bring the Parler app into compliance with the Guidelines and reinstate it in the App Store. As a result of those conversations, Parler has proposed updates to its app and the app’s content moderation practices, and the App Review Team has informed Parler as of April 14, 2021 that its proposed updated app will be approved for reinstatement to the App Store. Apple anticipates that the updated Parler app will become available immediately upon Parler releasing it.
The letter also notes that it did not consult with Google or Amazon in respect to its original decision to remove Parler — a response meant to put to rest the false claims of a coordinated effort between tech giants to silence conservatives.
Apple did not detail what specific changes Parler had agreed to, but earlier this year, the app was still non-compliant with Apple’s guidelines for allowing user profile pictures that featured swastikas and white nationalist imagery, and because it had permitted usernames and posts that were misogynistic, homophobic and racist, Bloomberg said at the time.
Today, we received a response: Parler will be reinstated on the App Store. Huge win for free speech. 