2 Founders of $32 Million Centra Virtual Currency Project Are Arrested

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2 Founders of $32 Million Centra Virtual Currency Project Are Arrested

SAN FRANCISCO — Federal authorities have arrested two founders of a virtual currency that raised $32 million from investors last year and won an endorsement from the boxer Floyd Mayweather.
The co-founders of the Centra virtual currency, Sam Sharma and Robert Farkas, were arrested on Sunday, a day before the Securities and Exchange Commission released a complaint against the men and announced that it was halting the project.
Centra raised $32 million last summer and fall in a so-called initial coin offering, a method of fund-raising in which companies sell custom virtual currencies. The Centra team said at the time that the Centra token would give investors access to a new virtual currency exchange and a virtual currency debit card that would operate on the Visa and Mastercard networks.
The S.E.C. said in its complaint that the Centra team had never received approval from Visa and Ma..

To Trump, It’s the ‘Amazon Washington Post.’ To Its Editor, That’s Baloney.

Supported by Media To Trump, It’s the ‘Amazon Washington Post.’ To Its Editor, That’s Baloney. Photo Jeff Bezos, the chief executive of Amazon, bought The Washington Post in 2013, but Amazon itself has no role in the ownership of the newspaper. Credit Justin T. Gellerson for The New York Times Amazon does not own The Washington Post. President Trump, however — impervious to certain facts and armed with a Twitter account — has tried hard to convince the public otherwise.
On more than one occasion, the president has called the newspaper the “Amazon Washington Post.” He has also accused it of being used as a “scam” to keep Amazon’s taxes low. And on Twitter over the weekend, he escalated his attack, declaring the “Fake Washington Post” a “lobbyist” for Amazon and demanding that it “REGISTER.”
Jeff Bezos, the founder and chief executive of Amazon, bought The Post for $250 million in 2013. Under his ownership, the paper has flourished. Buoyed by new resources, it has added more than 20..

DealBook: Facebook Should Consider a ‘Why Me?’ Button

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Facebook Should Consider a ‘Why Me?’ Button

“One of our biggest responsibilities is to protect data.”
That’s what Mark Zuckerberg, Facebook’s chief executive and co-founder, said just over a week ago after revelations that the data research firm Cambridge Analytica had gained access to the profiles of 50 million Facebook users.
Over the past year, the downside of social media companies — Facebook foremost among them — has become glaringly apparent. They have been platforms for information campaigns that influenced elections and endangered lives. They have failed to keep users’ personal information private. And the carefully targeted ads that appear on them can be, well, creepy.
Now the drumbeat for regulation of social media on both sides of the aisle — and from many in Silicon Valley — is getting louder by the day. “I think that this certain situation is so dire and has become so large that probably some well-crafted regulation is necessary,” Tim Cook, Apple’s chie..

New York Envisions a State-Run Retirement Plan for Private Workers

Supported by Business Day New York Envisions a State-Run Retirement Plan for Private Workers Photo The state budget that Gov. Andrew M. Cuomo is expected to sign includes a program to create a state retirement option for private sector employees without 401(k)-like programs at work.
Credit Jeenah Moon for The New York Times New York is close to joining a growing list of states that are creating a retirement plan option for private sector employees who do not have access to 401(k)-like programs at work.
The New York program was included in Friday’s budget deal, which Gov. Andrew M. Cuomo is expected to sign. The plan would enable businesses to provide workers with access to Roth individual retirement accounts overseen by the state. An estimated 3.5 million private sector employees in New York work for employers that do not offer a pension, a 401(k) plan or another savings option, according to AARP, which has lobbied in support of the plans.
“For years, we have been working to devel..

Potential Cosby Jurors Are Asked About #MeToo Bias

Supported by Television Potential Cosby Jurors Are Asked About #MeToo Bias Photo Bill Cosby, center, arriving at the Montgomery County Courthouse for jury selection in his sexual assault trial in Norristown, Pa. Credit Corey Perrine/Associated Press NORRISTOWN, Pa. — Bill Cosby sat in a courtroom here Monday. So too, in a way, did hundreds of women who have accused other powerful men of sexual assault in recent months as the #MeToo movement swept across America.
As jury selection got underway in Mr. Cosby’s criminal trial, no one could ignore that the atmosphere surrounding the case was much different than it had been last summer, during Mr. Cosby’s first trial, before one famous figure after another fell in the face of accusations of sexual misconduct or harassment.
Judge Steven T. O’Neill made that clear as he questioned the 120 potential jurors gathered at the Montgomery County Courthouse on a variety of potential conflicts.
“Do you have knowledge, have you read or seen anythin..