Pinterest Will Spend $50M ? on Developing Diverse & Inclusive Workplace to Settle a Lawsuit ⚖

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Pinterest Will Spend $50M ? on Developing Diverse & Inclusive Workplace to Settle a Lawsuit ⚖

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In November 2020, one of Pinterest stakeholders filed a lawsuit against the image sharing and social media service Pinterest.

The stakeholder claimed that the social media giant failed to take any action against the complaints regarding rampant race and gender discrimination.

The complaint especially accused the CEO of the company of marginalizing women and their opinions that challenged the white male panel of Pinterest board members.

To settle the lawsuit, Pinterest has now agreed to spend $50 million to make its workplace ecosystem more diverse and inclusive.

On top of that, despite a non-disclosure agreement, the company agreed to let the affected people speak about the discrimination they faced.

US Banking Regulators ? Finally set a Deadline for Regulating Crypto

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According to a joint statement issued by the Federal Reserve, the Federal Deposit Insurance Corporation, and the Comptroller of the Currency, their goal is to clarify the rules and regulations governing banks’ use of crypto assets in the coming year.

According to the agencies, they want to make sure that when it comes to crypto-related activities, banks will operate responsibly.

Their primary objective is to define expectations around how the banks should handle cryptocurrency, allow customers to obtain cryptocurrency, and create their own stablecoins.

The OCC was quick to make a move. The acting comptroller issues a letter enclosing all decisions that they made in 2020-2021. Prior to entering certain crypto segments, the banks will now need permission from regulators.

The United States ?? Take Tough Stance Against a Dozen Chinese Companies on Account of National Security  

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The US government, led by Biden, blacklisted several Chinese companies on Wednesday, because of national security and policy concerns.

Eight Chinese companies were blacklisted for allegedly assisting the Chinese government in their quantum computing efforts.

The officials in the U.S were always of the opinion that the Chinese companies are operating to draw sensitive information for the Republic of China.

However, the Chinese Communist Party has previously declared that they do not ever indulge or encourage industrial espionage.

“Global trade and commerce should support peace, prosperity, and good-paying jobs, not national security risks”, Said Gina Rainmodo, The U.S Secretary of Commerce.

Coinbase Acquires a Part of BRD’s Team to Work on its Wallet ?

Coinbase Buys Crypto Wallet Firm BRD | PYMNTS.com

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Earlier this week, BRD’s owner and founder had announced that part of the company’s team would be moving to Coinbase in order to continue working on Crypto wallets.

Coinbase, too, made an announcement on Twitter, adding that this move will help them accelerate web3 adoption and provide ‘self-custody’ expertise.

The BRD CEO Adam Traidman and Co-founder Aaron Voisine reiterated that there will be no changes in the BRD wallet app and the funds are safe and secure as always.

The Founder and CEO also added, “ In the future, BRD wallet users will have an optional migration path to self custody with Coinbase wallet.”

Around the Web

Crypto Lending Platform Celsius Expands Funding to $750 Million: On account of oversubscription in the company’s capital raise, Celsius Network will expand its October funding to $750 million. Already valued at $3.5 billion during previous funding rounds, it is believed that Celsius’ valuation will go up to $7 billion to $10 billion by 2022.


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