Plus, the SEC agrees to drop a lawsuit against crypto exchange Coinbase. And BE Semiconductor Industries Q4 results miss expectations.
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[00:00:00] Adobe Express makes it quick and easy to create everything I need for my business. From social posts, TikToks and flyers, all in just a few clicks. Get Adobe Express for free. Search for Adobe Express to find out more. Here's your TNB Tech Minute for Friday, February 21st. I'm Charlotte Gartenberg for The Wall Street Journal.
[00:00:22] Apple removed its Advanced Data Protection Feature in the U.K. after the government reportedly requested access to user data on its iCloud service. The company said that the service, which ensures only users can access files such as photos and documents encrypted on Apple's iCloud storage, will no longer be available to new users. Current U.K. users will need to eventually disable the security feature. The spokesperson for the company said, quote,
[00:00:48] We are gravely disappointed that the protections provided by ADP will no longer be available to our customers in the U.K., given the continuing rise of data breaches and other threats to customer privacy. The Securities and Exchange Commission has agreed to drop a lawsuit against Coinbase that sought to regulate the company as a stock exchange, marking the end of years of hardline enforcement against the crypto market.
[00:01:11] The crypto exchange had fought the suit, which was filed during the Biden administration, arguing the law didn't support equating crypto assets with securities. Dismissing the Coinbase lawsuit still requires a commission vote, which the company expects to happen next week. And BE Semiconductor Industries Q4 results missed expectations. The company now faces a reset of 2025 earnings expectations, but a gradual recovery seems likely from now on, says an ING analyst in a research note.
[00:01:42] The Dutch supplier to the semiconductor industry said it is cautiously optimistic heading into 2025, with a recovery likely to start in the second half. For a deeper dive into what's happening in tech, check out Monday's Tech News Briefing podcast. the tallest market available on the önществTwitter. The Dutch Quarterly page is by the мелed man of North Star. The Dutch Quarterly page. The Dutch Quarterly page has confirmed to feature all the elements of the cryptocurrencies of the United States of the United States. The Dutch Quarterly page is brought up to the Atlantic, the blackest world and the message that we have led to theנהğini-car. The Dutch Quarterly page is brought to the top of the United States ship. The Dutch Quarterly text to the channel.