Genesis Global Trading has been eerily silent after announcing last week that its crypto lending unit would halt services in light of FTX’s collapse. From a report: Five days have passed since its lending unit ceased withdrawals and new loan originations. And the lack of communication has opened the door to speculation about the health of the overall firm, as well as its parent Digital Currency Group and sister unit Grayscale Investments. If Genesis were dealing with insolvency concerns and were to file for bankruptcy, that would imperil Digital Currency Group.

It is only speculation. There has been no reporting to suggest this outcome. Digital Currency Group, or DCG, founded by Barry Silbert in 2015, is among the largest crypto companies, sporting a valuation of $10 billion just last year. It holds investments in some 165 companies, from public companies including Coinbase Global to well-known private shops Ripple and Ledger. In other words, a hurt DCG would have industrywide repercussion

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Source: Slashdot – Silence From Digital Currency Group’s Genesis Spooks Crypto

An anonymous reader shares a report: A little more than a year ago, Amazon, specifically Amazon Web Services, flashed its stacks of cash as it announced it was buying up the end-to-end encrypted messaging app Wickr. AWS users could suddenly use Wickr’s services, and some reporters speculated Amazon could have been trying to make a move in the increasingly crowded encrypted messaging space. That’s much more unlikely now as Amazon announced Monday it was nixing its secure messaging app Wickr Me.

The tech giant said that Wickr would instead be focused on business and public sector communications, specifically through AWS Wickr and Wickr Enterprise. The company will no longer allow registrations for Wickr Me after Dec. 31, and a year later, at the tail end of 2023, the app will be but a puff of smoke and a memory. Wickr was worth in the ballpark of $60 million when it was purchased, but just a few years ago Wickr was spouting off about its features that encrypted conference calls, which was a major evolution in the encrypted messaging space. Amazon’s other messaging app, Chime, does videoconferencing without encryption. In September, Amazon finally added end-to-end encryption for the data sent to users through its Ring doorbells.

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Source: Slashdot – Amazon Plans To Close Up Shop on Wickr’s User-Centric Encrypted Messaging App

The U.K.’s Competition and Markets Authority (CMA) is initiating an investigation into Broadcom’s proposed $61 billion deal to buy virtualization software giant VMware. From a report: The news comes shortly after news emerged that the European Commission (EC) was also proceeding with an investigation into what would be one of the biggest tech acquisitions of all time. In the companies’ domestic U.S. market, meanwhile, the Federal Trade Commission (FTC) last month progressed its investigation into a deeper second review phase, which means that the FTC saw enough during its initial analysis to warrant a more extensive look. The crux of the deal is chip giant Broadcom seeking to diversify by expanding deeper into the enterprise infrastructure software fray. While VMware’s shareholders greenlighted the proposal a couple of weeks back, a deal of this size was always going to garner regulatory scrutiny, so there is little surprise that we’re seeing multiple authorities look into the deal. Broadcom had previously stated that it hoped to close the deal by October, 2023, so it was aware that this was going to be a long journey.

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Source: Slashdot – Broadcom’s Proposed Billion VMware Acquisition Scrutinized by UK Regulators