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Google to Pay $118 Million to Settle 🤝 Gender Discrimination Case
Google has agreed to pay $118 million to settle a class-action gender discrimination case in the U.S. that includes nearly 15,500 women in over 200 job titles.
“As a woman who’s spent her entire career in the tech industry, I’m optimistic that the actions Google has agreed to take as part of this settlement will ensure more equity for women,” said Plaintiff Holly Pease in a statement.
“Google, since its founding, has led the tech industry. They also have an opportunity to lead the charge to ensure inclusion and equity for women in tech,” she added.
The lawsuit first emerged in 2017 after several former Google employees accused the company of paying women less than men for equivalent positions and assigning women lower positions than men with similar experiences because they had previously earned smaller salaries.
The plaintiffs won class-action status last year.
As part of the settlement, the tech giant is also required to have an independent labor economist evaluate its hiring practices and pay equity studies.
DeFi Lending Platform Celsius puts Breaks on Withdrawals And Transfers ❌
Celsius, a DeFi platform built for passive income by lending and staking cryptos, has stopped all withdrawals, swaps, and transfers between accounts, citing market conditions as well as the need for stabilizing liquidity.
In a blog post, the company said, “Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.”
The platform has offered high-interest rates for its customers, particularly for its own Celsius token (CEL).
But the price of the token has plummeted sharply in the last week. The fall in price follows the aftermath of the Terra collapse and the crypto market turmoil.
Celsius says it is working to protect and preserve assets to meet customer obligations.
It also said that its ultimate objective is stabilizing liquidity and restoring withdrawals, swaps, and transfers between accounts as quickly as possible.
Circle to Acquire Web 3 Infrastructure Platform CYBAVO 💡
Peer-to-peer financial services firm Circle has signed an agreement to acquire CYBAVO, a Taiwan-based digital asset infrastructure platform that focuses on custody and blockchain application development, for an undisclosed amount.
As part of the deal, Circle will continue to invest, develop, and operate the products and services of CYBAVO and add them as a new product pillar.
The acquisition will also help Circle to offer “infrastructure as a service” for companies looking to build on Web 3, allowing developers to work on their products without needing to worry about digital asset security, operations, and blockchain infrastructure management.
“With CYBAVO, we can advance our own technology capabilities, adding more advanced security, workflows and protocol support to the Circle Account and API capabilities our customers need, while also offering a much broader suite of enterprise and developer services for those building on USDC and Web3 infrastructure,” Circle said in a statement.
The acquisition of CYBAVO is expected to offer a wider suite of enterprise and developer services for customers building its stablecoin as well as Web3 infrastructure.
Deep-Learning Research Startup Charm Therapeutics Nabs $50 Million in Series A 💰
CHARM Therapeutics, a 3D deep-learning research startup discovering & developing transformational medicines, has raised $50 million in its Series A funding round.
The funding was co-led by F-Prime Capital and OrbiMed, along with participation from General Catalyst, Khosla Ventures, Braavos, and Axial.
Founded in 2021 by David Baker and Laksh Aithani, CHARM Therapeutics uses deep learning on 3D molecular configurations to develop molecule therapeutics to target pathogenic proteins.
By using revolutionary 3D deep learning, the company develops a pipeline of truly novel small molecule inhibitors targeting cancers and other diseases with high unmet medical needs.
The startup’s proprietary platform — DragonFold, uses end-to-end 3D deep-learning to predict the co-crystal structure of a protein-ligand complex based on a protein’s primary sequence and the ligand’s chemical structure.
The platform is building a robust engine to translate 3D predictions into novel small molecule therapeutics that modulate challenging targets with the potential to transform the lives of patients.
CHARM Therapeutics plans to use the fresh funds to further develop its ambitions of positive identification of effective medications.
Around the Web 🌐
MoneyGram Launches USDC Transfer Services: Cross-border transfer service MoneyGram has launched its stablecoin-powered payment channel to give users the ability to send USD Coin (USDC) payments. The service is currently available across different key remittance markets, including the United States, Canada, Kenya, and the Philippines.
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