"What if the big tech companies achieved their ultimate business goal — maximizing engagement on their platforms — in a way that has undermined our ability to function as an open society?"

That's the question being asked by Chuck Todd, chief political analyst for NBC News: What if they realized that when folks agree on a solution to a problem, they are most likely to log off a site or move on? It sure looks like the people at these major data-hoarding companies have optimized their algorithms to do just that. As a new book argues, Big Tech appears to have perfected a model that has created rhetorical paralysis. Using our own data against us to create dopamine triggers, tech platforms have created "a state of perpetual disagreement across the divide and a concurrent state of perpetual agreement within each side," authors Frank McCourt and Michael Casey write, adding: "Once this uneasy state of divisive 'equilibrium' is established, it creates profit-making opportunities for the platforms to generate revenue from advertisers who prize the sticky highly engaged audiences it generates."

In their new book, "Our Biggest Fight," McCourt (a longtime businessman and onetime owner of the Los Angeles Dodgers) and Casey are attempting a call to action akin to Thomas Paine's 18th century-era "Common Sense." The book argues that "we must act now to embed the core values of a free, democratic society in the internet of tomorrow." The authors believe many of the current ills in society can be traced to how the internet works. "Information is the lifeblood of any society, and our three-decade-old digital system for distributing it is fatally corrupt at its heart," they write. "It has failed to function as a trusted, neutral exchange of facts and ideas and has therefore catastrophically hindered our ability to gather respectfully to debate, to compromise and to hash out solutions.... Everything, ultimately, comes down to our ability to communicate openly and truthfully with one another. We have lost that ability — thanks to how the internet has evolved away from its open, decentralized ideals...."

Ultimately, what the authors are imagining is a new internet that essentially flips the user agreement 180 degrees, so that a tech company has to agree to your terms and conditions to use your data and has to seek your permission (perhaps with compensation) to access your entire social map of whom and what you engage with on the internet. Most important, under such an arrangement, these companies couldn't prevent you from using their services if you refused to let them have your data... Unlike most anti-Big Tech books, this one isn't calling for the breakup of companies like Meta, Amazon, Alphabet, Microsoft or Apple. Instead, it's calling for a new set of laws that protect data so none of those companies gets to own it, either specifically or in the aggregate...

The authors seem mindful that this Congress or a new one isn't going to act unless the public demands action. And people may not demand this change in our relationship with tech if they don't have an alternative to point to. That's why McCourt, through an organization he founded called Project Liberty, is trying to build our new internet with new protocols that make individual data management a lot easier and second nature. (If you want to understand the tech behind this new internet more, read the book!)
Wait, there's more. The article adds that the authors "envision an internet where all apps and the algorithms that power them are open source and can be audited at will. They believe that simply preventing these private companies from owning and mapping our data will deprive them of the manipulative marketing and behavioral tactics they've used to derive their own power and fortunes at the expense of democracy."

And the NBC News analyst seems to agree. "For whatever reason, despite our societal fear of government databases and government surveillance, we've basically handed our entire personas to the techies of Silicon Valley."

Come 2029, all cars sold in the U.S. "must be able to stop and avoid contact with a vehicle in front of them at speeds up to 62 mph," reports Car and Driver.

"Additionally, the system must be able to detect pedestrians in both daylight and darkness. As a final parameter, the federal standard will require the system to apply the brakes automatically up to 90 mph when a collision is imminent, and up to 45 mph when a pedestrian is detected." Notably, the federal standardization of automated emergency braking systems includes pedestrian-identifying emergency braking, too. Once implemented, the NHTSA projects that this standard will save at least 360 lives a year and prevent at least 24,000 injuries annually. Specifically, the federal agency claims that rear-end collisions and pedestrian injuries will both go down significantly...

"Automatic emergency braking is proven to save lives and reduce serious injuries from frontal crashes, and this technology is now mature enough to require it in all new cars and light trucks. In fact, this technology is now so advanced that we're requiring these systems to be even more effective at higher speeds and to detect pedestrians," said NHTSA deputy administrator Sophie Shulman.
Thanks to long-time Slashdot reader sinij for sharing the article.

The world's highest astronomical site is officially open for business after being in the works for 26 years. Space.com reports: The Japanese University of Tokyo Atacama Observatory, or TAO, which was first conceptualized 26 years ago to study the evolution of galaxies and exoplanets, is perched on top of a tall mountain in the Chilean Andes at 5,640 meters (18,500 feet) above sea level. The facility's altitude surpasses even the Atacama Large Millimeter Array, which is at an elevation of 5,050 meters (16,570 feet).

TAO is located on the summit of Atacama's Cerro Chajnantor mountain, whose name means "place of departure" in the now-extinct Kunza language of the indigenous Likan Antai community. The region's high altitude, sparse atmosphere and perennially arid climate is deadly to humans, but makes an excellent spot for infrared telescopes like TAO as their observational accuracies rely on low moisture levels, which render Earth's atmosphere transparent in infrared wavelengths.

TAO's 6.5-meter telescope consists of two science instruments designed to observe the universe in infrared, which is electromagnetic radiation with a wavelength longer than visible light but shorter than microwaves. One of the instruments, named SWIMS, will image galaxies from the very early universe to understand how they coalesced out of pristine dust and gas, a process whose specifics remain murky despite decades of research. The second, named MIMIZUKU, will aid the overarching science goal by studying primordial disks of dust within which stars and galaxies are known to form, according to the mission plan. Constructing the telescope on the summit of Mt. Chajnantor "was an incredible challenge, not just technically, but politically too," Yuzuru Yoshii, a professor at the University of Tokyo in Japan who spearheaded TAO since 1998, said in a statement. "I have liaised with Indigenous peoples to ensure their rights and views are considered, the Chilean government to secure permission, local universities for technical collaboration, and even the Chilean Health Ministry to make sure people can work at that altitude in a safe manner."

"Thanks to all involved, research I've only ever dreamed about can soon become a reality, and I couldn't be happier," he added.

An anonymous reader quotes a report from Wired: Join your localMilitia or III% Patriot Group," a post urged the more than 650 members of a Facebook group called the Free American Army. Accompanied by the logo for the Three Percenters militia network and an image of a man in tactical gear holding a long rifle, the post continues: "Now more than ever. Support the American militia page." Other content and messaging in the group is similar. And despite the fact that Facebook bans paramilitary organizing and deemed the Three Percenters an "armed militia group" on its 2021 Dangerous Individuals and Organizations List, the post and group remained up until WIRED contacted Meta for comment about its existence.

Free American Army is just one of around 200 similar Facebook groups and profiles, most of which are still live, that anti-government and far-right extremists are using to coordinate local militia activity around the country. After lying low for several years in the aftermath of the US Capitol riot on January 6, militia extremists have been quietly reorganizing, ramping up recruitment and rhetoric on Facebook -- with apparently little concern that Meta will enforce its ban against them, according to new research by the Tech Transparency Project, shared exclusively with WIRED.

Individuals across the US with long-standing ties to militia groups are creating networks of Facebook pages, urging others to recruit "active patriots" and attend meetups, and openly associating themselves with known militia-related sub-ideologies like that of the anti-government Three Percenter movement. They're also advertising combat training and telling their followers to be "prepared" for whatever lies ahead. These groups are trying to facilitate local organizing, state by state and county by county. Their goals are vague, but many of their posts convey a general sense of urgency about the need to prepare for "war" or to "stand up" against many supposed enemies, including drag queens, immigrants, pro-Palestine college students, communists -- and the US government. These groups are also rebuilding at a moment when anti-government rhetoric has continued to surge in mainstream political discourse ahead of a contentious, high-stakes presidential election. And by doing all of this on Facebook, they're hoping to reach a broader pool of prospective recruits than they would on a comparatively fringe platform like Telegram. "Many of these groups are no longer fractured sets of localized militia but coalitions formed between multiple militia groups, many with Three Percenters at the helm," said Katie Paul, director of the Tech Transparency Project. "Facebook remains the largest gathering place for extremists and militia movements to cast a wide net and funnel users to more private chats, including on the platform, where they can plan and coordinate with impunity."

Paul has been monitoring "hundreds" of these groups and profiles since 2021 and found that they have been growing "increasingly emboldened with more serious and coordinated organizing" in the past year.

Senior Department arms control official Paul Dean on Thursday urged China and Russia to declare that artificial intelligence would never make decisions on deploying nuclear weapons. Washington had made a "clear and strong commitment" that humans had total control over nuclear weapons, said Dean. Britain and France have made similar commitments. Reuters reports: "We would welcome a similar statement by China and the Russian Federation," said Dean, principal deputy assistant secretary in the Bureau of Arms Control, Deterrence and Stability. "We think it is an extremely important norm of responsible behaviour and we think it is something that would be very welcome in a P5 context," he said, referring to the five permanent members of the United Nations Security Council.

A bipartisan group of senators, led by Jeff Merkley, John Kennedy, and Roger Marshall, is advocating for limitations on the Transportation Security Administration's use of facial recognition technology due to concerns about privacy and civil liberties. PBS reports: In a letter on Thursday, the group of 14 lawmakers called on Senate leaders to use the upcoming reauthorization of the Federal Aviation Administration as a vehicle to limit TSA's use of the technology so Congress can put in place some oversight. "This technology poses significant threats to our privacy and civil liberties, and Congress should prohibit TSA's development and deployment of facial recognition tools until rigorous congressional oversight occurs," the senators wrote.

The effort, led by Sens. Jeff Merkley, D-Ore., John Kennedy, R-La., and Roger Marshall, R-Kan., "would halt facial recognition technology at security checkpoints, which has proven to improve security effectiveness, efficiency, and the passenger experience," TSA said in a statement. The technology is currently in use at 84 airports around the country and is planned to expand in the coming years to the roughly 430 covered by TSA.

The UK government's climate action plan is unlawful, the high court has ruled, as there is not enough evidence that there are sufficient policies in place to reduce greenhouse gas emissions. From a report: The energy secretary, Claire Coutinho, will now be expected to draw up a revised plan within 12 months. This must ensure that the UK achieves its legally binding carbon budgets and its pledge to cut emissions by more than two-thirds by 2030, both of which the government is off track to meet. The environmental charities Friends of the Earth and ClientEarth took joint legal action with the Good Law Project against the Department for Energy Security and Net Zero (DESNZ) over its decision to approve the carbon budget delivery plan (CBDP) in March 2023.

In a ruling on Friday, Mr Justice Sheldon upheld four of the five grounds of the groups' legal challenge, stating that the decision by the former energy security and net zero secretary Grant Shapps was "simply not justified by the evidence." He said: "If, as I have found, the secretary of state did make his decision on the assumption that each of the proposals and policies would be delivered in full, then the secretary of state's decision was taken on the basis of a mistaken understanding of the true factual position."

The judge agreed with ClientEarth and Friends of the Earth that the secretary of state was given "incomplete" information about the likelihood that proposed policies would achieve their intended emissions cuts. This breached section 13 of the Climate Change Act, which requires the secretary of state to adopt plans and proposals that they consider will enable upcoming carbon budgets to be delivered. Sheldon also agreed with the environment groups that the central assumption that all the department's policies would achieve 100% of their intended emissions cuts was wrong. The judge said the secretary of state had acted irrationally, and on the basis of an incorrect understanding of the facts. This comes after the Guardian revealed the government would be allowing oil and gas drilling under offshore wind turbines, a decision criticised by climate experts as "deeply irresponsible."

Microsoft is making security its number one priority for every employee, following years of security issues and mounting criticisms. The Verge: After a scathing report from the US Cyber Safety Review Board recently concluded that "Microsoft's security culture was inadequate and requires an overhaul," it's doing just that by outlining a set of security principles and goals that are tied to compensation packages for Microsoft's senior leadership team. Last November, Microsoft announced a Secure Future Initiative (SFI) in response to mounting pressure on the company to respond to attacks that allowed Chinese hackers to breach US government email accounts.

Just days after announcing this initiative, Russian hackers managed to breach Microsoft's defenses and spy on the email accounts of some members of Microsoft's senior leadership team. Microsoft only discovered the attack nearly two months later in January, and the same group even went on to steal source code. These recent attacks have been damaging, and the Cyber Safety Review Board report added fuel to Microsoft's security fire recently by concluding that the company could have prevented the 2023 breach of US government email accounts and that a "cascade of security failures" led to that incident. "We are making security our top priority at Microsoft, above all else -- over all other features," explains Charlie Bell, executive vice president for Microsoft security, in a blog post today. "We will instill accountability by basing part of the compensation of the company's Senior Leadership Team on our progress in meeting our security plans and milestones."

A Miami-based CEO will serve over six years in prison for selling counterfeit Cisco equipment to numerous buyers on Amazon and eBay, with some of the shoddy hardware ending up in sensitive US government systems. From a report: On Wednesday, 40-year-old Onur Aksoy was sentenced to six years and six months in prison for raking in at least $100 million from the counterfeit sales. Aksoy committed the fraud from at least 2013 to 2022 -- the year he was arrested -- by buying the fake Cisco equipment from suppliers in China. The counterfeits were then resold as legitimate Cisco products for an estimated retail value of over $1 billion.

"Aksoy sold hundreds of millions of dollars' worth of counterfeit computer networking equipment that ended up in US hospitals, schools, and highly sensitive military and other governmental systems, including platforms supporting sophisticated US fighter jets and military aircraft," Principal Deputy Assistant Attorney General Nicole Argentieri said in a statement.

Dan Goodin reports via Ars Technica: A maximum severity vulnerability that allows hackers to hijack GitLab accounts with no user interaction required is now under active exploitation, federal government officials warned as data showed that thousands of users had yet to install a patch released in January. A change GitLab implemented in May 2023 made it possible for users to initiate password changes through links sent to secondary email addresses. The move was designed to permit resets when users didn't have access to the email address used to establish the account. In January, GitLab disclosed that the feature allowed attackers to send reset emails to accounts they controlled and from there click on the embedded link and take over the account.

While exploits required no user interaction, hijackings worked only against accounts that weren't configured to use multi-factor authentication. Even with MFA, accounts remained vulnerable to password resets. The vulnerability, tracked as CVE-2023-7028, carries a severity rating of 10 out of a possible 10. The vulnerability, classified as an improper access control flaw, could pose a grave threat. GitLab software typically has access to multiple development environments belonging to users. With the ability to access them and surreptitiously introduce changes, attackers could sabotage projects or plant backdoors that could infect anyone using software built in the compromised environment. An example of a similar supply chain attack is the one that hit SolarWinds in 2021, infecting more than 18,000 of its customers. Other recent examples of supply chain attacks are here, here, and here. These sorts of attacks are powerful. By hacking a single, carefully selected target, attackers gain the means to infect thousands of downstream users, often without requiring them to take any action at all. According to Internet scans performed by security organization Shadowserver, more than 2,100 IP addresses showed they were hosting one or more vulnerable GitLab instances. In order to protect your system, you should enable MFA and install the latest patch. "GitLab users should also remember that patching does nothing to secure systems that have already been breached through exploits," notes Goodin.

The FBI cut its warrantless searches of American data in half in 2023, according to a government report released on Tuesday. From a report: According to the Office of the Director of National Intelligence's annual transparency report, the FBI conducted 57,094 searches of "US person" data under Section 702 of the Foreign Intelligence Surveillance Act last year -- a 52 percent decrease from 2022.

In a press briefing, a senior FBI official said that the drop was due to reforms the agency implemented in 2021 and 2022, The Record reports. Despite the drop in overall searches of Americans' data, the report also notes that the number of foreign targets whose data could be searched in the Section 702 database rose to 268,590, a 9 percent increase from the previous year. The number of "probable cause" targets also increased significantly, from 417 in 2022 to 759 in 2023. Of those, 57 percent are estimated to be "US persons," which includes US citizens and permanent residents.

Google is making its last attempt to fight back against a historic effort by the US Department of Justice to break the tech giant's grip on online search, as the most significant antitrust trial in 25 years comes to a close in Washington. From a report: A federal court in Washington began hearing closing arguments on Thursday after a 10-week trial in which the DoJ accused Alphabet, the parent company of Google, of suppressing search rivals by paying tens of billions annually for anti-competitive agreements with wireless carriers, browser developers and device manufacturers. During the hearing on Thursday, John Schmidtlein, a lawyer from Williams & Connolly representing Google, sought to push back on claims that it had hindered rivals' efforts to gain a foothold in online search, and argued that users had plenty of alternatives.

Unsealed court documents revealed this week that Alphabet paid Apple $20bn in 2022 alone to be the default search engine for its iPhone and Safari browser on its other devices. "Google winning agreements because it has a better product is not a harm to the competitive process, even if it gives it scale to improve its product," Schmidtlein told the court. A lawyer for the government, Kenneth Dintzer, told the court that Google's "anti-competitive conduct harms competition and is self perpetuating." Defaults "are a powerful way to drive searches, otherwise Google wouldn't pay billions of dollars for them," he added.

Amit Mehta, the judge hearing the case, noted that search "today looks a lot different than it didâ 10 to 15 years ago. He pushed back on the DoJ's contention that the quality of search had suffered due to the lack of competition, although he also noted that only two "substantial competitors" had entered the search market in the past decade. "Doesn't that tell us all we need to know in terms of barriers of entry," he asked.

An anonymous reader quotes a report from Reuters: Microsoft said on Thursday it will invest $2.2 billion over the next four years in Malaysia to expand cloud and artificial intelligence (AI) services in the company's latest push to promote its generative AI technology in Asia. The investment, the largest in Microsoft's 32-year history in Malaysia, will include building cloud and AI infrastructure, creating AI-skilling opportunities for 200,000 people, and supporting the country's developers, the company said.

Microsoft will also work with the Malaysian government to establish a national AI Centre of Excellence and enhance the nation's cybersecurity capabilities, the company said in a statement. Prime Minister Anwar Ibrahim, who met Nadella on Thursday, said the investment supported Malaysia's efforts in developing its AI capabilities. Microsoft is trying to expand its support for the development of AI globally. Nadella this week announced a $1.7 billion investment in neighboring Indonesia and said Microsoft would open its first regional data centre in Thailand. "We want to make sure we have world class infrastructure right here in the country so that every organization and start-up can benefit," Microsoft Chief Executive Satya Nadella said during a visit to Kuala Lumpur.

An anonymous reader quotes a report from Ars Technica: The Federal Communications Commission chair today made a final plea to Congress, asking for money to continue a broadband-affordability program that gave out its last round of $30 discounts to people with low incomes in April. The Affordable Connectivity Program (ACP) has lowered monthly Internet bills for people who qualify for benefits, but Congress allowed funding to run out. People may receive up to $14 in May if their ISP opted into offering a partial discount during the program's final month. After that there will be no financial help for the 23 million households enrolled in the program.

"Additional funding from Congress is the only near-term solution for keeping the ACP going," FCC Chairwoman Jessica Rosenworcel wrote in a letter to members of Congress today. "If additional funding is not promptly appropriated, the one in six households nationwide that rely on this program will face rising bills and increasing disconnection. In fact, according to our survey of ACP beneficiaries, 77 percent of participating households report that losing this benefit would disrupt their service by making them change their plan or lead to them dropping Internet service entirely." The ACP started with $14.2 billion allocated by Congress in late 2021. The $30 monthly ACP benefit replaced the previous $50 monthly subsidy from the Emergency Broadband Benefit Program.

The National Archives and Records Administration (NARA) told employees Wednesday that it is blocking access to ChatGPT on agency-issued laptops to "protect our data from security threats associated with use of ChatGPT," 404 Media reported Wednesday. From the report: "NARA will block access to commercial ChatGPT on NARANet [an internal network] and on NARA issued laptops, tablets, desktop computers, and mobile phones beginning May 6, 2024," an email sent to all employees, and seen by 404 Media, reads. "NARA is taking this action to protect our data from security threats associated with use of ChatGPT."

The move is particularly notable considering that this directive is coming from, well, the National Archives, whose job is to keep an accurate historical record. The email explaining the ban says the agency is particularly concerned with internal government data being incorporated into ChatGPT and leaking through its services. "ChatGPT, in particular, actively incorporates information that is input by its users in other responses, with no limitations. Like other federal agencies, NARA has determined that ChatGPT's unrestricted approach to reusing input data poses an unacceptable risk to NARA data security," the email reads. The email goes on to explain that "If sensitive, non-public NARA data is entered into ChatGPT, our data will become part of the living data set without the ability to have it removed or purged."

The US could lose out on valuable AI and tech talent if some of its immigration policies are not modernized, Google says in a letter sent to the Department of Labor. From a report: Google says policies like Schedule A, a list of occupations the government "pre-certified" as not having enough American workers, have to be more flexible and move faster to meet demand in technologies like AI and cybersecurity. The company says the government must update Schedule A to include AI and cybersecurity and do so more regularly.

"There's wide recognition that there is a global shortage of talent in AI, but the fact remains that the US is one of the harder places to bring talent from abroad, and we risk losing out on some of the most highly sought-after people in the world," Karan Bhatia, head of government affairs and public policy at Google, tells The Verge. He noted that the occupations in Schedule A have not been updated in 20 years.

Companies can apply for permanent residencies, colloquially known as green cards, for employees. The Department of Labor requires companies to get a permanent labor certification (PERM) proving there is a shortage of workers in that role. That process may take time, so the government "pre-certified" some jobs through Schedule A. The US Citizenship and Immigration Services lists Schedule A occupations as physical therapists, professional nurses, or "immigrants of exceptional ability in the sciences or arts." While the wait time for a green card isn't reduced, Google says Schedule A cuts down the processing time by about a year.

The massive volumes of debt piling up around the globe forced the president of the World Economic Forum to reach back more than 200 years for a comparable period. Fortune: In an interview Sunday with CNBC at a WEF conference in Saudi Arabia, Borge Brende warned overall debt is approaching the world's total economic output. "We haven't seen this kind of debt since the Napoleonic Wars," he said. "We're getting close to 100% of global GDP in debt."

According to the International Monetary Fund last year, global public debt hit $91 trillion, or 92% of GDP, by the end of 2022. That was actually a dip from pandemic-era debt levels but remained in line with a decades-long trend higher. Data on global debt during the Napoleonic Wars, which took place in the early 1800s, is harder to come by. But for comparison, some estimates put British government debt at more than 200% of GDP by 1815.

Brende also told CNBC that governments need to take fiscal measures to reduce their debts without triggering a recession. For now, global growth is about 3.2% annually, which isn't bad, but it's also below the 4% trend growth the world had seen for decades, he said earlier in the interview. That risks a repeat of the 1970s, when growth was low for a decade, Brende added. But the world can avoid such an outcome if it continues to trade and doesn't engage in more trade wars. "Trade was the engine of growth for decades," he said.

An anonymous reader quotes a report from Bloomberg: U.S. wind power slipped last year for the first time in a quarter-century due to weaker-than-normal Midwest breezes, underscoring the challenge of integrating volatile renewable energy sources into the grid. Power produced by turbines slipped 2% in 2023, even after developers added 6.2 gigawatts of new capacity, according to a government report Tuesday. The capacity factor for the country's wind fleet -- how much energy it's actually generating versus its maximum possible output -- declined to an eight-year low of 33.5%. Most of that decline was driven by the central US, a region densely dotted with turbines.

Wind is a key component of the effort to cut carbon emissions, but the data highlights the downside of relying on intermittent energy sources tied to the effects of global weather. Last year's low wind speeds came during El Nino, a warming of the equatorial Pacific that tends to weaken trade winds. La Nina, the Pacific cooling pattern that dominated in 2022 and is poised to return later this year, usually has the opposite effect. The U.S. Energy Information Administration shared the findings in a report published earlier today.

Kaiser Permanente is the latest healthcare giant to report a data breach. Kaiser said 13.4 million current and former insurance members had their patient data shared with third-party advertisers, thanks to an improperly implemented tracking code the company used to see how its members navigated through its websites. Dark Reading reports: The shared data included names, IP addresses, what pages people visited, whether they were actively signed in, and even the search terms they used when visiting the company's online health encyclopedia. Kaiser has reportedly removed the tracking code from its sites, and while the incident wasn't a hacking event, the breach is still concerning from a security perspective, according to Narayana Pappu, CEO at Zendata.

"The presence of third-party trackers belonging to advertisers, and the oversharing of customer information with these trackers, is a pervasive problem in both health tech and government space," he explains. "Once shared, advertisers have used this information to target ads at users for complementary products (based on health data); this has happened multiple times in the past few years, including at Goodrx. Although this does not fit the traditional definition of a data breach, it essentially results in the same outcome -- an entity and the use case the data was not intended for has access to it. There is usually no monitoring/auditing process to identify and prevent the issue."

Binance founder Changpeng Zhao has been sentenced to four months in prison after pleading guilty to charges related to enabling money laundering through his cryptocurrency exchange. CNBC reports: The sentence handed down to Zhao in Seattle federal court was significantly less than the three years that federal prosecutors had been seeking for him. The defense had asked for five months of probation. The sentencing guidelines called for a prison term of 12 to 18 months. In November, Zhao struck a deal with the U.S. government to resolve a multiyear investigation into Binance, the world's largest cryptocurrency exchange. As part of the settlement, Zhao stepped down as the company's CEO.

Zhao, who wore a dark navy suit with a light blue tie to court, is accused of willfully failing to implement an effective anti-money laundering program as required by the Bank Secrecy Act, and of allowing Binance to process transactions involving proceeds of unlawful activity, including between Americans and individuals in sanctions jurisdictions. The U.S. ordered Binance to pay $4.3 billion in fines and forfeiture. Zhao agreed to pay a $50 million fine.