Australia Takes On Facebook | The $600 Million Crypto Hack | Collectibles’ Tech Revolution

Plus: Did The Son Of The World’s Third-Richest Person Trade NFTs With Inside Information?

Good morning.

Facebook’s parent company is facing troubles Down Under for allegedly failing to crack down on scams using the name of celebrities on the social media platform. We’re also covering a massive new crypto heist, and the company changing the game in the sports card collectibles business. Finally, don’t miss this story about suspicious NFT trading activities—some involving the scion of Europe’s wealthiest family—that underscores the lack of regulation in the space. 

In The News Today

The U.S. and Ukraine are skeptical that Russia will keep its promise to scale down fighting near Kyiv, but in the meantime battered Russian troops have been forced to return to Belarus and Russia to “reorganize and resupply,” according to British intelligence. 

Former President Donald Trump’ son-in-law Jared Kushner is expected to testify before the House committee investigating the January 6 Capitol riot on Thursday after the White House waived executive privilege for him and his wife Ivanka Trump.  

Top Take-Aways

Australia’s second-richest person Andrew Forrest and the country’s competition regulator are both suing Facebook’s parent company over claims it hasn’t done enough to protect consumers from scams using the names of celebrities on the social media platform.

Gaming-focused blockchain platform Ronin Network announced it was hit by hackers last week who stole cryptocurrencies now valued at more than $600 million—the second-biggest hack ever in the burgeoning cryptocurrency space.

Each year, some 12 million tons of asphalt shingles, which represent the primary type of roofing in the United States, end up in landfills. In an effort to tackle the problem, Standard Industries’ GAF has developed a new version of its asphalt shingles that contain 15% recycled materials.

Elon Musk’s invitation to the United Auto Workers to attempt to organize Tesla’s California assembly plant hasn’t yielded any progress yet, and the billionaire's recent tweet accusing the labor group of stealing money from its members made that even less likely.

March Madness Cinderella team St Peter’s University’s defeat allowed bookmakers across the country to finally breathe easy—had the Peacocks won, they would have been on the hook for tens of millions of dollars. No matter which Final Four team triumphs in New Orleans this weekend, the host city will be a big winner.

Old sports cards moldering in an attic may soon be authenticated, graded, stored safely and sold at auction by a disruptive force called Collectors, the company leading a tech revolution in the once dusty field.

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An ice shelf the size of New York collapsed in Antarctica earlier this month, an unprecedented event for the region that follows a period of extremely high temperatures for the south pole. 

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