Plus, Tencent builds another Indonesian data center. And FTX’s estate sues Binance for $1.8 billion. James Rundle hosts.
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[00:00:16] Here's your TNB Tech Minute for Monday, November the 11th. I'm James Rundle for The Wall Street Journal.
[00:00:22] We're exclusively reporting that a Google executive hired to lead the company's relationships with news publishers has resigned.
[00:00:28] That's according to people familiar with the situation. Shailesh Prakash, Vice President and General Manager for Google News, joined the company in 2022 from the Washington Post.
[00:00:38] He brought an inside view of publishers' frustrations as newsrooms have battled with the search giant over compensation for the use of their content.
[00:00:46] A current point of contention between publishers and Google is the advent of generative AI. Google declined to comment on Prakash's departure.
[00:00:53] Meanwhile, Chinese tech giant Tencent Holdings is building a third data center in Indonesia, amid a wave of trade agreements between the nation and China.
[00:01:02] Tencent has committed to around $500 million of investment in Southeast Asia's largest economy by 2030, according to a joint statement.
[00:01:11] And, FTX's bankruptcy estate is suing cryptocurrency exchange Binance to recover almost $1.8 billion.
[00:01:19] FTX had sold a 20% stake in the company to Binance executives in 2019.
[00:01:24] Alameda Research, a trading firm owned by FTX CEO Sam Bankman-Fried, bought it back in 2021 using customer funds from FTX.
[00:01:34] The FTX estate argues that as the transaction was fraudulent, it should be able to claw back the money.
[00:01:40] Binance described the lawsuit's claims as meritless and said it would defend itself.
[00:01:44] For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.
[00:01:48] For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.