China raising the flag of U.S. protectionism after recent cross border corporate takeovers were scuttled over national security concerns. This comes after Alibaba's Ant Financial scrapped its acquisition of MoneyGram. Axios Media Reporter Sara Fischer explains what this means for the future of data security and technology.
"Media is becoming so technology and data focused so any business move to take over a company that would give a Chinese internet company data not only affects those companies in trade, but it affects media and technology," explains Fischer.
The Committee for Foreign Investments in the United States is now taking a closer look at investments Chinese companies and private equity firms are making in U.S. technology companies. Fischer explains CFIUS is concerned giving foreign interests so much access to data would be a national security problem.
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A First Amendment group sued Texas Governor Greg Abbott and others on Thursday over the state’s TikTok ban on official devices, arguing the prohibition – which extends to public universities – is unconstitutional and impedes academic freedom.
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Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.
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