BEWARE: Scammers Exploit Fake Social Media Accounts Impersonating Airlines 👾

Good morning. It's Monday, Jun. 10, and we're covering Scammers Exploit Fake Social Media Accounts Impersonating Airlines, Microsoft Unveils All-Digital Xbox Consoles, Benny Gantz Quits Netanyahu Government, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.53 Trillion, a 0.31% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $50.74B, which makes a 3.74% decrease.

• The total volume in Defi is currently $4.59B, 9.04% of the total crypto market 24-hours.

• The volume of all stablecoins is now $47.01B, which is 92.65% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 54.14%, a decrease of 0.25% over the day.

BUSINESS & FINANCE

Scammers Exploit Fake Social Media Accounts Impersonating Airlines

Holidaymakers are being cautioned about a surge in scams involving fake social media accounts posing as airlines, with every major UK airline reportedly affected. According to consumer watchdog Which?, these bogus accounts on X (formerly Twitter) are used to deceive customers into divulging personal information. The scam typically occurs when customers seek assistance from airlines on social media platforms, and scammers respond, hoping to trick users into providing sensitive data or visiting phishing websites.

Why it matters: Airlines risk damage to their reputation if customers become victims of scams through fake accounts impersonating their brand. Trust in the airline's online presence may erode if consumers perceive it as unsafe or untrustworthy. ( Read Deeper )

Norway's Wealth Fund Opposes Musk's $56 Billion Pay Package

Norway's $1.7 trillion sovereign wealth fund, one of Tesla's largest shareholders, announced its decision to vote against ratifying Elon Musk's $56 billion pay package. This package, initially approved in 2018, was invalidated earlier this year by a Delaware judge who deemed it excessive. The fund, which owns 0.98% of Tesla, expressed concerns about the size, performance triggers, dilution, and key person risk associated with the award.

Takeaway: The wealth fund will support a shareholder proposal for Tesla to adopt policies on freedom of association and collective bargaining, reflecting ongoing labor disputes and broader concerns about corporate governance and executive compensation. ( Read Deeper )

TECHNOLOGY & SCIENCE

Microsoft Unveils All-Digital Xbox Consoles

Microsoft unveiled new all-digital versions of their Xbox Series X and S consoles, along with trailers for multiple games, including the next "Call of Duty" installment and "Doom: The Dark Ages." The showcase highlighted Microsoft's push for Xbox Game Pass, with many games available on the service at launch. Additionally, a special feature showcased the upcoming "Call of Duty: Black Ops 6," detailing its features and gameplay.

Takeaway: This event comes at a crucial time for Xbox and Microsoft as the gaming industry faces challenges such as softer sales and studio shutdowns. Microsoft's focus on digital consoles and its Game Pass subscription service reflects its strategy to adapt to changing consumer preferences and economic conditions in the gaming market. ( Read Deeper )

European Advocacy Group Challenges Meta's AI Training Policy Over Privacy Concerns

The European advocacy group NOYB has filed complaints in 11 countries over Meta's new AI policy, which would allow the company to scrape old user data from Facebook to train its artificial intelligence models. The policy change, set to go live in late June, has raised concerns about user privacy and compliance with data protection laws in Europe. NOYB argues that Meta's approach violates users' rights and undermines data-protection regulations outlined in the European Union's General Data Protection Regulation. Meta, however, asserts that its policy follows the law and is consistent with the practices of other tech companies.

Why it matters: The complaints filed by NOYB highlight concerns over Meta's policy change and its potential impact on user privacy, raising questions about the balance between technological advancement and personal data protection. If successful, this challenge could influence the approach of other tech companies operating in Europe and shape the future landscape of AI development and data privacy regulations globally. ( Read Deeper )

AROUND DE WORLD & POLITICS

Benny Gantz Quits Netanyahu Government Amid Gaza Conflict

The Israeli centrist minister Benny Gantz resigned from Prime Minister Benjamin Netanyahu's emergency government amid the ongoing Gaza conflict. His departure removes the centrist element from Netanyahu's far-right coalition, increasing Netanyahu's reliance on ultra-nationalist factions. Gantz, a former army commander and defense minister, criticized Netanyahu for letting political considerations overshadow strategic decisions and demanded a clear post-war strategy for Gaza by June 8, which Netanyahu dismissed.

Why it matters: Benny Gantz's resignation disrupts the political balance within Netanyahu's government, potentially escalating the Gaza conflict, straining international relations, influencing public opinion and future elections, and impacting regional stability and security. ( Read Deeper )

Swiss Summit On Ukraine Seeks Path To Peace Amid Russian Absence

Switzerland is hosting a conference on Ukraine this weekend, gathering world leaders to explore avenues for achieving peace, despite Russia's non-participation. The summit follows the G7 meeting in Italy, where discussions on Ukraine are also anticipated. Notable attendees include French President Emmanuel Macron, US Vice President Kamala Harris, and other global leaders. The summit aims to inspire a future peace process and solicit contributions from all participating states toward a just and lasting peace in Ukraine.

Takeaway: The conference seeks to address key issues such as territorial sovereignty, humanitarian concerns, and prisoner exchanges. While Russia's absence presents a challenge, organizers remain hopeful that progress can be made toward eventual Russian involvement in peace negotiations. ( Read Deeper )

ENTERTAINMENT & SPORTS

Premier League 2024-25: Key Dates And Information

The 2024-25 Premier League season is set to kick off on the weekend of 17-18 August, featuring 33 weekends of play, with special arrangements for festive fixtures to avoid congestion. Fixture details will be released at 09:00 BST on Tuesday, 18 June, while the summer transfer window opens on Friday, 14 June and closes on Friday, 30 August at 23:00 BST. Fans are encouraged to stay updated on club news and transfer deals through notifications. ( Read Deeper )

Jennifer Hudson Opens Up About Romance With Common

Jennifer Hudson recently shared an update on her relationship with rapper Common, expressing that "everything is wonderful" without divulging further details. The couple had previously sparked dating rumors, and Common confirmed their relationship during an appearance on Hudson's talk show, "The Jennifer Hudson Show." While both remain private about their personal lives, Common expressed admiration for Hudson's accomplishments and hinted at the possibility of marriage in the future. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• DOJ targets Nvidia, Meme stock comeback, Trump fundraiser in SF, Apple/OpenAI ( Listen )

EXTRA BREVITI

• William A. Anders, the astronaut renowned for capturing the iconic "Earthrise" photo during the Apollo 8 mission, has passed away at 90. ( Read More )

• Sextortion is the fastest-growing scam affecting teenagers globally and has been linked to more than 27 suicides in the US alone. ( Read More )