💻 Apple Updates App Store Guidelines to Solve Concerns of Developers

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Apple Updates App Store Guidelines to Solve Concerns of Developers

Apple has announced the introduction of new App store guidelines after prolonged discussions around the rights of developers.

One of the changes is a result of an earlier announced settlement agreement with a class of U.S. app developers.

The changes clarify that developers will be allowed to communicate with their customers about other payment options available outside their app.

The second guideline, which is related to the first guideline, explains that apps may request customer information such as name and email address, but the request must be kept optional for the users and should not prevent them from using the app.

Finally, the third guideline is unrelated to legal action and only provides details on how developers can use a new App Store feature, in-app events, which will be launched in the next week.

Apple has updated the new set of guidelines after its developers demanded fair play from the company.

These guidelines in the settlement will address a long-standing issue of Apple developers that called out Apple on dominating the payment methods made available to users.

CoinMarketCap Hack Leaks 3.1 Million Email Addresses

CoinMarketCap, the premier price-tracking website for cryptocurrencies, had reportedly fallen prey to a hack that leaked email addresses of about 3.1 million users.

The news of the breach came to light after the hacked email addresses were discovered to be traded and sold on several hacking forums and publicized by Have I Been Pwned, a website that allows users to check hacks and compromised online accounts.

According to Have I Been Pwned, the database of CoinMarketCap was breached on October 12. The website said that the breach resulted in the stealing of email addresses; however, passwords of users were not compromised or stolen during the hack.

The fact that no passwords were compromised during the leak gives a big relief to the users affected.

However, the leak of email addresses has compromised the privacy of users and could lead to several targeted cyber-attacks on customers, including phishing.

Sommelier Raises $23 Million in Its Series A Funding

U.S.-based decentralized and automated DeFi portfolio manager software, Sommelier, has raised $23 million in its Series A funding round.

The funding was led by Polychain Capital and included participation from existing investors Alameda Ventures. The round also saw participation from new investors Zola Ventures, Secure Ventures, D1 Ventures, Byzantine Ventures, Tendermint Ventures, and Ferngrove Ventures.

Founded in 2020 by Zaki Manian, Sommelier is a blockchain protocol that helps automate liquidity providers’ (LPs’) capital allocation to maximize yields.

The startup’s software acts as a co-processor to the Ethereum Virtual Machine (EVM) and gives DeFi Liquidity Providers (LPs) unprecedentedly powerful tools for authorizing and automating complex liquidity management transactions without the need of an intermediary.

With the latest proceeds, the startup plans to upgrade its protocol and launch “Cellars” to help manage liquidity across DeFi protocols. Sommelier Cellars is a layer of liquidity management software that targets the top Ethereum and Ethereum Virtual Machine compliant blockchains as well as the rapidly growing Layer 2 liquidity pools.

Samsung to Build EV Battery Plant in The United States

South Korea’s Samsung SDI and Stellantis have entered into a preliminary agreement on a joint venture to manufacture electric vehicle (EV) battery cells and modules in the United States.

This announcement confirms the earlier reports that the two companies recently signed a contract, which provides Samsung SDI to join its domestic rivals, such as LG Energy Solution and SK On, to build EV batteries in the U.S.

Under this agreement, Samsung SDI and Stellantis will start manufacturing EV battery cells and modules in the first half of 2025, with an initial annual battery production capacity of 23-gigawatt hours (GWh).

In the future, the joint venture’s annual battery production capacity could increase to 40 GWh.

The location of the factory is still under review, and no financial details on the investment amount and the size of the battery plant were disclosed.

However, the batteries manufactured at the U.S. plant will be supplied to Stellantis’ factories in the United States, Canada, and Mexico.

Around The Web

☁️ U.S.-based startup Rhombus Systems Raises $10 Million: Rhombus Systems, a provider of cloud-managed video security solutions for enterprises, has raised $10 million in its latest funding round. The round was led by Cota Capital and included participation from MSD Partners, Lemnos Labs, and Promus Ventures.

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This installment of my newsletter covers all business, tech and finance. I send this email / post this daily.

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