Tech Week: Big Tech Seeks to Block CA’s New Child Online Protections, Nuclear Fusion Breakthrough & More

Big Tech Sues to Block CA Child Online Protection Law

The tech industry group NetChoice is suing to block California’s new Age-Appropriate Design Code Act (AB 2273), which is aimed at making the internet safer for kids. NetChoice, which includes Amazon, Google, Meta and Twitter, contends the law violates the First Amendment. The group has also sued Florida and Texas over laws passed in those states seeking to hold social media platforms accountable for removing posts on political grounds. (CNBC)

Scientists Achieve Nuclear Fusion Breakthrough

Last week scientists with the Department of Energy carried out a nuclear fusion reaction that generated more energy than was put in to initiate it for the very first time, duplicating the process that powers stars. But experts cautioned that numerous challenges still have to be overcome before nuclear fusion starts replacing fossil fuels, starting with determining whether scientists can even replicate what it took decades for them to accomplish just once. (NEW YORK TIMES, CNBC)

FTX Founder Arrested in Bahamas

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, was arrested by Bahamian authorities last week after being alerted of an impending indictment by the U.S. Attorney for the Southern District of New York. The arrest came the day before Bankman-Fried was scheduled to testify before Congress about the collapse of one of the world’s biggest crypto exchanges. (REUTERS, CNBC)

TikTok Ban Introduced in Congress

A bipartisan group of congressional lawmakers introduced legislation that would bar the use of the Chinese-owned TikTok social media platform in the United States. According to the text of The Averting the National Threat of Internet Surveillance, Oppressive Censorship, and Influence, and Algorithmic Learning by the Chinese Communist Party Act, or ANTI-SOCIAL CCP Act, it would apply to any social media company substantially controlled by a “country of concern,” including the People’s Republic of China, Cuba, Iran, North Korea, Russia and Venezuela. (HILL)

Lawsuit Targets Popular NFT Creator, Celebrity Promoters

Yuga Labs Inc., creator of the popular Bored Ape Yacht Club NFT collection, and celebrity promoters of those NFTs, including Justin Bieber, Paris Hilton and Madonna, are the targets of a proposed class-action lawsuit claiming Yuga used the A-listers to misleadingly promote its products. The suit follows at least three others targeting celebrities, including Stephen Curry and Tom Brady, for promoting failed crypto exchange FTX. (BLOOMBERG)

-- Compiled by KOREY CLARK