TechPression

Tag: America

  • Trump pledges to make U.S. the world’s crypto capital

    Trump pledges to make U.S. the world’s crypto capital

    U.S. President Donald Trump vowed on Thursday to position America as a global leader in cryptocurrency, promising to make the nation a trailblazer that sets the pace for others in a world that is leaning towards digital assets..

    In a video address at the Digital Asset Summit in New York, Trump pledged to make America the “undisputed Bitcoin superpower and the crypto capital of the world.”

    “With the right legal framework, institutions large and small will be liberated to invest, innovate, and take part in one of the most exciting technological revolutions in modern history,” Trump said.

    Read also: Trump vows to make U.S. global cryptocurrency leader at first-ever White House Crypto Summit

    Pushing for regulatory clarity

    During his remarks, Trump emphasised the need for clear regulations to support the crypto industry’s growth. He urged Congress to pass legislation that would create a stable legal framework for digital assets, particularly stablecoins.

    “I’ve called on Congress to pass landmark legislation bringing simple, common-sense rules for stablecoins and market structure,” he said, adding that such measures would encourage innovation and investment.

    The president also spotlighted the first-ever White House Digital Asset Summit, an event aimed at fostering dialogue between government officials and industry leaders. “Just two weeks ago, we brought together many of the world’s top crypto leaders at the White House for a conversation led by our AI and Crypto Czar,” Trump noted.

    The president further announced the creation of a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile to ensure the federal government retains and maximises its cryptocurrency holdings.

    “Instead of foolishly selling them for a fraction of their long-term value, as was done in the past, we are going to ensure America benefits from its Bitcoin holdings,” he said.

    He reaffirmed his administration’s stance against excessive regulations, vowing to end restrictive policies that he believes have hindered the crypto sector.

    “We are ending the last administration’s regulatory war on crypto and Bitcoin, including stopping Operation Choke Point 2.0,” he declared. “As of January 20, 2025, all of that is over.”

    Read also: Gold surpasses $3,000 as U.S. trade tensions, global instability fuel surge

    A vision for crypto leadership

    Trump’s statements signal a notable shift in U.S. policy toward cryptocurrency, positioning his administration as the most crypto-friendly in history. He concluded his address with a strong message to the crypto community.

    “Together, we will ensure America remains at the forefront of financial innovation. It’s going to happen right here in the U.S.A.—the good old U.S.A.,” Trump said.

  • DeepSeek under threat from US-originated cyber attacks

    DeepSeek under threat from US-originated cyber attacks

    Chinese media reports claim that the US is responsible for the January 3 cyberattacks against China’s AI model DeepSeek.

    According to cybersecurity specialists, the attacks peaked earlier this week with a big brute-force attempt coming from US IP addresses.

    Distributed Denial-of-Service (DDoS) attacks were used in the attack’s first phase in an effort to overload DeepSeek’s servers and interfere with its business activities.

    Read also: DeepSeek’s emergence worries Trump, serves as wakeup call to U.S. tech companies

    Cyber attacks aim to gain understanding of how DeepSeek works 

    According to a report by China’s cybersecurity company QAX Technology Group, as the attacks developed, they switched to brute-force techniques meant to break user IDs and passwords in order to gain a better understanding of how the model worked.

    The supremacy of US-based behemoths like OpenAI, Google, and Meta was questioned earlier this month when DeepSeek released their open-source AI model, R1.

    Compared to its Western competitors, DeepSeek’s language model uses fewer resources, which has led to its quick rise in popularity.

    Major Western tech companies like Nvidia have seen large market losses as a result of its growth.

  • Mexico resists Google’s plan to rename Gulf of Mexico to Gulf of America

    Mexico resists Google’s plan to rename Gulf of Mexico to Gulf of America

    President Claudia Sheinbaum of Mexico said Wednesday that her government would write to Google, the US tech giant, protesting President Donald Trump’s executive order to rename the Gulf of Mexico as the “Gulf of America.”

    Sheinbaum spoke at a press conference, stressing that Mexico will not accept the US attempt to rename the body of water, especially since a large portion of it is in international waters, and she raised concerns about the implications for international law and the naming authority overseas.

    Read also: Google Maps’ decision to rename the Gulf of Mexico sparks debate

    Google to obey Trump’s executive order to rename Gulf of Mexico to Gulf of America for US users 

    In compliance with Donald Trump’s executive orders, Google has announced that it will rename the Gulf of Mexico the “Gulf of America” on its Maps app.

    Although Google acknowledged that it would rename the Gulf for its US users, keeping the original name in Mexico and displaying both names for users outside of the US and Mexico, Sheinbaum reaffirmed that the US government does not have the authority to make such changes.

    Google announced on Monday that the adjustments will take effect as soon as the Geographic Names Information System (GNIS) is updated and are consistent with its policy of adhering to official US government geographic designations.

    Shortly after taking the oath of office on January 20, Trump issued executive orders renaming the Gulf of Mexico.

  • TikTok to ‘go dark’ for millions of Americans on Sunday

    TikTok to ‘go dark’ for millions of Americans on Sunday

    TikTok announced late Friday that its 170 million American users would “go dark” on Sunday due to a U.S. ban over concerns that its Chinese ownership could jeopardise national security.

    TikTok stated, “Unfortunately, TikTok will be forced to go dark on January 19” unless the Biden administration ensures Apple, Google, and other companies won’t be fined for providing its United States services.

    Read also: U.S. Supreme Court upholds TikTok ban ahead of Trump’s inauguration

    Supreme court ruling seals TikTok ban

    TikTok released the statement on Friday in an attempt to convince the administration to reconsider the ban affirmed by the Supreme Court on Friday that would ban its service starting Sunday.

    This law prohibits app shops and major cloud computing providers from selling TikTok to U.S. consumers unless ByteDance sells the company to a non-Chinese owner.

    TikTok did not say what would happen on Sunday, including if it would shut down voluntarily or wait till app shops disconnect it from the devices of American users.

    Biden has previously indicated that Apple, Google, and other businesses would not be instantly prosecuted under the law.

    After bipartisan congressional approval, President Biden signed the TikTok prohibition measure in April. Lawmakers warned Beijing could force ByteDance to collect sensitive American user data or influence TikTok content for its benefit.

    TikTok claims the Chinese government has no participation in the company and that the video app has spent billions of dollars to guarantee security for its over 100 million  U.S. users, majority of whom were young people. 

    But prosecutors argued that the Chinese laws allowed the government to summon companies for information regardinf its operations and users, a risk that the U.S. could not take.

    On Friday, the Supreme Court justified the government’s ban based on national security concerns. The majority opinion highlighted “TikTok’s extensive reach and vulnerability to foreign adversarial influence, in conjunction with the substantial amounts of sensitive data that the platform gathers.”

    After the Supreme Court’s ruling, Deputy Attorney General Lisa Monaco said the procedure would take “over time.” According to White House press secretary Karine Jean-Pierre, the incoming Trump administration, which takes office on Monday, will enforce the law.

    Read also: TikTok denies sale to Elon Musk amid looming U.S. ban deadline

    TikTok’s fight for clarity on legal distribution

    TikTok argued those comments were insufficient to reassure other companies that they could legally distribute and operate the app. After the ban, erring corporations can get fined as high as $5,000 per any U.S. who accesses the video app.

    “The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to the service providers that are integral to maintaining TikTok’s availability to over 170 million Americans,” the company said.

    Influencers shift to new platforms amid uncertainty

    TikTok’s loss of that user base would be considerable but not the worst. In 2020, it was outlawed in 200-million-user India. Like the U.S., India banned TikTok for national security reasons.

    President-elect Donald J. Trump supports TikTok, but his administration’s approach is unknown. He said on social media that he respected the Supreme Court verdict.

    “My decision on TikTok will be made in the not-too-distant future,” Mr Trump said, “but I must have time to review the situation.”

    Meanwhile, some creators are already starting to share their content on other platforms like Instagram Reels and YouTube Shorts. One influencer explained, “I want my audience to find me if TikTok goes away.”

    In anticipation of Sunday, millions of Americans are thinking about TikTok—a place for creativity, connection, and enjoyment. For many, losing TikTok is like losing part of their lives.

  • David Steward: The tech entrepreneur who became the richest black person in America

    David Steward: The tech entrepreneur who became the richest black person in America

    In the Forbes’ prestigious list of the richest Americans, David Steward was ranked the wealthiest Black person in America. 

    The list, which was released in early October, named the tech entrepreneur as the richest black person in America with a net worth of $11.4 billion.

    The Missouri-based icon rose from $7.6 billion barely a year ago to his current net worth, a testament of the remarkable success of his multinational technology company, World Wide Technologies (WWT).

    Read also: Tech CEO of the week

    One of only four black individuals to make the list

    Mr Steward’s inclusion in the Forbes list was a significant accomplishment, but he wasn’t the only black person on the list.

    Black billionaires that featured on Forbes list include Robert Smith, Palantir co-founder Alexander Karp, who debuted with a net worth of $3.6 billion, and legendary basketball icon, Michael Jordan, boasting a networth of approximately $3.5 billion.

    David Steward’s story

    David Steward’s journey to greatness is reminiscent of a typical grass to grace story.

    He was born in 1951 in Chicago, Illinois and grew up in a small, segregated town in Missouri. His family struggled financially, and Mr Steward often recounts the hard work his parents put in so their family could survive.

    This early brush with poverty moulded his character and fuelled his determination to be successful.

    Under his leadership, WWT became a global powerhouse in the IT industry, hiring over 8,000 employees and netting billions in annual revenue. Some of their biggest clients are Boeing, AT & T, and the U.S. government.

    This had not always been the case as WWT started as a small tech firm with just a few number of employees.

    Read also: Nigeria at 64: Technology’s role in economic hardship

    Education and contribution to society

    Mr Steward earned a business degree from the Central Missouri State University and held many sales positions in organisations like the Federal Express (FedEx).

    He, however, suffered discrimination and encountered many challenges in the corporate environment and this gave him the boost he needed to start his own company, the WWT.

    His discrimination encounters propelled him to become a passionate advocate of inclusion and diversity in the workspace, stressing the need to create more opportunities for black people, particularly for individuals in the tech industry.

    Having established the David and Thelma Steward Family Foundation, the techpreneur and his wife provide economic and educational opportunities for underserved communities. 

    The foundation also makes donations to charity groups that support minority education and entrepreneurship. 

    Continuing his legacy

    Mr Steward shares two children with his wife, Thelma. 

    According to tech mogul, his family has been a great system of support throughout his entrepreneurial journey.