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Justice Department Opens Criminal Probe Into Silicon Valley Spy Allegations

By: BeauHD
The U.S. Department of Justice has opened a criminal investigation into Deel over allegations that it recruited a spy inside rival Rippling, according to documents seen by The Wall Street Journal. From the report: An Ireland-based Rippling employee, Keith O'Brien, alleged in an affidavit filed in April that Deel Chief Executive Alex Bouaziz recruited him and gave him instructions for what information to take from Rippling. O'Brien alleged that other executives were involved in the spying plot, including Bouaziz's father, who is Deel's executive chairman and chief strategy officer. A spokeswoman for Deel said the company isn't aware of a criminal investigation but is willing to cooperate with authorities. The company has previously said: "We deny all legal wrongdoing and look forward to asserting our counterclaims." Unsealed court documents allege that an entity tied to Deel transferred $6,000 to an account owned by the wife of Chief Operating Officer Dan Westgarth, and that the same amount was forwarded from the account to O'Brien seconds later.

Read more of this story at Slashdot.

Ethereum Funding Rates Pushing Towards Negative: What’s Going On?

Ethereum is currently trading under pressure after failing to push above the $3,000 level again over the past 24 hours, a move that is reflecting trader sentiment across the derivatives markets. ETH is currently trading at $2,925, down 2.7% on the day, after moving within a 24-hour range capped at $3,012.99 and finding lows around $2,909.60, according to price data from CoinGecko.Β 

As price action weakens, a notable change has been developing, with on-chain data showing funding rates drifting toward negative territory and derivative positioning beginning to tilt more defensively.

Funding Rates Slide As Shorts Gain Ground

Ethereum’s failure to hold above $3,000 is an important psychological break for traders, especially after several failed attempts to hold above that level in January. Price action over the past week shows sellers maintaining control after ETH rejected around $3,360 on January 18, followed by a steady push lower toward the high-$2,900s.Β 

Although the pullback has so far been orderly above $2,900, this decline has come alongside fading momentum across the derivatives market.

One of the clearest signals for this can be seen in Ethereum’s OI-weighted funding rate, which has been steadily compressing and is now edging toward negative levels. At the time of writing, Ethereum’s OI-weighted is at 0.0008%, close to breaking into negative territory and far below readings around 0.009%, which it registered earlier in the month.

Ethereum

Funding rates turning negative typically indicate that short positions are paying longs, meaning stronger demand for downside exposure. Funding spikes that previously accompanied the price rebound in early January have faded, and the overall trend suggests bearish positioning is slowly gaining the upper hand.

Open Interest, Liquidations, And What’s Next

Although Ethereum’s price action fell below $3,000, derivatives traders have stayed in the market, keeping total open interest at high levels. Data from CoinGlass shows aggregate Ethereum open interest increasing by 0.68% in the past 24 hours, which shows that many traders are not exiting Ethereum entirely. At the time of writing, the total open interest is sitting at about 13.36 million ETH, equivalent to roughly $39.19 billion.

Looking across major exchanges, Binance has the largest share of ETH open interest, accounting for about $8.95 billion, but it is down by 0.8% in the past 24 hours. CME follows with approximately $5.73 billion in open interest, up by 3.72% in the past 24 hours. Gate comes next at around $4.01 billion, while MEXC comes in close at $3.51 billion worth of ETH open interest.

Over the past 24 hours, Ethereum liquidations totaled $64.34 million, with long positions ($52.52 million) accounting for the majority of losses.

A hold above $2,900 could allow Ethereum’s funding rates to normalize and open the door for another rebound attempt to $3,000. However, a continued fall in funding rates into negative territory could see bearish control pushing Ethereum below $2,900.

Ethereum

A $540 discount makes this robot vacuum and mop hard to ignore

Robot vacuums are at their best when they quietly remove a chore from your week. The problem is most β€œcheap” ones still ask for constant attention, which defeats the purpose. This bObsweep Dustin self-empty robot vacuum and mop is $189.99, saving you $540 off the $729.99 compared value. At this price, it’s less of a […]

The post A $540 discount makes this robot vacuum and mop hard to ignore appeared first on Digital Trends.

Toronto Man Posed as Pilot To Rack Up Hundreds of Free Flights, Prosecutors Say

By: msmash
A Toronto man posed as a pilot for years in order to fool airlines into giving him hundreds of free flights, prosecutors have alleged, in a case that has prompted comparisons to the Hollywood thriller Catch Me If You Can. From a report: Authorities in Hawaii announced this week that Dallas Pokornik, 33, had been charged with wire fraud after he allegedly fooled three major US carriers into giving him free tickets over a span of four years. Airlines typically offer standby tickets to their own staff and those with rival airlines as a way of ensuring the broader industry can effectively move employees across continents. According to court documents, Pokornik was a flight attendant for a Toronto-based airline from 2017 to 2019, but then used an employee identification from that carrier to obtain tickets, "which he in fact knew to be fraudulent at the time it was so presented." The only Toronto-based airline, Porter, told reporters it was "unable to verify any information related to this story." On one occasion, Pokornik is alleged to have requested a jumpseat in an aircraft's cockpit, which are normally reserved for off-duty pilots, even though he was not a pilot and did not have an airman's certificate. Federal rules prohibit the cockpit jumpseats from being used for leisure travel.

Read more of this story at Slashdot.

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