![]() earlier this year or Google’s proposed deal to buy Fitbit Inc., the Microsoft and TikTok deal doesn’t raise the same sort of antitrust concerns because of Microsoft’s smaller role in the existing social media market, Kimmelman said. (which runs Uber Eats) was reportedly looking to purchase GrubHub Inc. But despite the historic congressional hearing where Democrats equated the power of those large technology companies to monopolies, many are now instead saying Microsoft’s potential acquisition of TikTok doesn’t raise any immediate antitrust concerns.Ĭompared to when Uber Technologies Co. as part of a 14-month investigation into their alleged anti-competitive practices - such as acquiring rivals to protect their own market power. 15.Īll of this comes just one week after House lawmakers spent hours questioning the chief executives of Alphabet Inc., Inc., Apple Inc. Last weekend, President Donald Trump threatened to ban TikTok, only to later toss his support behind Microsoft’s acquisition interest so long as the deal is completed by Sept. The potential deal comes as TikTok, which is owned by Beijing-based ByteDance Ltd., continues to face regulatory scrutiny in Washington over national security concerns regarding the personal information of Americans being collected by an app owned by a Chinese company. “While it involves a big company, the fact that it’s a big company doesn’t mean it’s anti-competitive to acquire new assets,” said Gene Kimmelman, former chief counsel at the Justice Department’s antitrust division and now a senior adviser at Public Knowledge, which opposes monopolies in the tech industry. Some congressional aides and antitrust experts, in fact, say the potential deal could be one of the rare instances where Big Tech buying a smaller, fast-growing firm could instead spur competition. The initiation of probes doesn’t necessarily mean that anyone will be accused of wrongdoing.Microsoft Corp.’s discussions about buying TikTok have thrown a wrench in the narrative that Washington antitrust hawks will automatically gawk at any and all mergers and acquisitions taken on by large U.S. Read: ‘I’m sorry, I f-ed up’: Inside the FTX collapse The SEC’s scrutiny started months ago as a probe into the FTX US platform and its crypto-lending activities, but in recent days has expanded. US regulators have been looking into whether FTX.com mishandled customer funds, and reviewing the global trading platform’s relationships with other Bankman-Fried’s businesses. Bankman-Fried, 30, didn’t immediately respond to a request for comment nor did the FTX US exchange. Representatives for the SEC and FTX.com declined to comment. As the crisis deepened on Thursday, the securities regulator for the Bahamas, where FTX.com is based, said it was freezing the firm’s assets and appointing a provisional liquidator. The SEC is scrutinising Bankman-Fried’s involvement in recent moves that helped push FTX.com, one of the world’s largest exchanges, into a liquidity crisis, said the person, who asked not to be named discussing the confidential inquiry. The US justice department is also looking into the situation. Sam Bankman-Fried is being investigated by the US Securities and Exchange Commission for potential violations of securities rules as the regulator deepens its probe into his crumbling FTX crypto empire, according to a person familiar with the matter.įTX, the American platform FTX US, and Bankman-Fried’s trading house Alameda Research are already under investigation by the SEC.
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