FTX Ordered To Pay $12.7 Billion To Customers, US CFTC Says

FTX has been ordered to pay $12.7 billion in relief to its customers, according to the Commodity Futures Trading Commission (CFTC). In a statement, CFTC Chairman Rostin Behnam said the crypto exchange drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to make its own risky investments. Reuters reports: The repayment order implements a settlement between the CFTC and the bankrupt crypto exchange, which has committed to a bankruptcy liquidation that will repay customers whose deposits were locked during its late 2022 collapse. FTX has said that its customers will receive 100% recovery on their claims against the company, based on the value of their accounts at the time it filed for bankruptcy. The CFTC agreement resolves a potential roadblock to that repayment, ensuring that the government’s lawsuit against FTX will not reduce the funds available to its customers. The CFTC agreed not to collect any payment from FTX until all its customers are repaid, with interest.

The CFTC settlement requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be used to further compensate victims for losses suffered during the exchange’s collapse. […] FTX is currently soliciting votes on its bankruptcy proposal but faces opposition from some customers who feel short-changed by the decision to repay them based on much-lower cryptocurrency prices from November 2022. Votes are due on Aug. 16, and FTX intends to seek final approval of its wind-down plan on Oct. 7.

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M4 Mac Mini To Become Apple’s Smallest Ever Computer With Complete Redesign

According to Bloomberg’s Mark Gurman (paywalled), Apple plans to launch a completely redesigned Mac mini with M4 and M4 Pro chips later this year. MacRumors reports: The new Mac mini will be the first major design change to the machine since 2010, making it Apple’s smallest ever desktop computer. The new Mac mini will apparently approach the size of an Apple TV, but it may be slightly taller than the current model, which is 1.4 inches high. It will continue to feature an aluminum shell. Individuals working on the new device apparently say that it is “essentially an iPad Pro in a small box.”

Apple is said to have tested Mac mini models with at least three USB-C ports on the back, as well as an area for the power cable and an HDMI port. There will continue to be two versions of the Mac mini: one with the standard M4 chip, similar to the iPad Pro, and one with an M4 Pro chip. The base model is set to begin shipping from suppliers this month ahead of release later in the year, while the high-end model will not be ready until October.

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Crunchyroll Passes 15 Million Monthly Paid Subscribers

Sony’s Crunchyroll streaming service dedicated to anime has passed 15 million monthly paid subscribers. “Today marks an exciting milestone not only for Crunchyroll, but for the entire anime industry,” Rahul Purini, president of Crunchyroll, said in a press release. “It is proof that the rich stories, characters and experiences that our partners create are resonating deeply with fans at record numbers all over the world. As the number of people excited about anime continues to explode and the breadth of content continues to widen, we believe it has never been a better time to be an anime fan.” TheWrap reports: Currently, the streamer has the world’s largest streaming library dedicated to anime, including 50,000 episodes and more than 25,000 hours of anime series, music and films. Every season, the streamer brings in between 45 and 60 new and returning series to its service. Those include series such as “Demon Slayer Kimetsu no Yaiba,” “JUJUTSU KAISEN,” “One Piece,” “Chainsaw Man” and “Solo Leveling.” Last year, the streamer also partnered with SMEJ (Sony Music Entertainment Japan) to bring anime-related music to the platform, a collaboration that has resulted in 3,300 music videos and concerts so far.

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UK Royal Mint To Extract Gold From E-Waste

“The Royal Mint, which has produced coins since the 9th Century, has begun to recover gold from electronic waste as the use of cash has declined and fewer new coins are needed,” writes Slashdot reader newcastlejon. “In 2022, construction began on a new site in Llantrisant, Wales. This facility will now be used to initially produce gold for jewelry and later for commemorative coins.” The BBC reports: At the Royal Mint plant, piles of circuit boards are being fed into the new facility. First, they are heated to remove their various components. Then the array of detached coils, capacitors, pins and transistors are sieved, sorted, sliced and diced as they move along a conveyor belt. Anything with gold in it is set aside. The gold-laden pieces go to an on-site chemical plant. They’re tipped into a chemical solution which leaches the gold out into the liquid. This is then filtered, leaving a powder behind. It looks pretty nondescript but this is actually pure gold — it just needs to be heated in a furnace to be transformed into a gleaming nugget. “Traditional gold recovery processes are very energy intensive and use very toxic chemicals that can only be used once, or they go to high energy smelters and they’re basically burnt,” says Leighton John, the Royal Mint’s operations director. “The groundbreaking thing for us is the fact that this chemistry is used at room temperature, at very low energy, it’s recyclable and pulls gold really quickly.”

“Our aim is to process over 4,000 tonnes of e-waste annually,” says Leighton John. “Traditionally this waste is shipped overseas but we’re keeping it in the UK and we’re keeping those elements in the UK for us to use. It’s really important.”

The report notes that the UK is the second biggest producer of tech trash per capita, beaten only by Norway. According to the UN, e-waste is a rapidly growing problem, with 62 million tons discarded in 2022. That’s expected to increase by a third by 2030.

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