Science and Technology

Jerry Yu has the trappings of what the Chinese call second-generation rich. He boasts a Connecticut prep-school education. He lives in a Manhattan condominium bought for $8 million from Jeffrey R. Immelt, the former General Electric chief executive. And he is the majority owner of a Bitcoin mine in Texas, acquired last year for more than $6 million.Mr. Yu, a 23-year-old student at New York University, has also become — quite unintentionally — a case study in how Chinese nationals can move money from China to the United States without drawing the attention of authorities in either country.The Texas facility,…

Under pressure from critics who say Substack is profiting from newsletters that promote hate speech and racism, the company’s founders said Thursday that they would not ban Nazi symbols and extremist rhetoric from the platform.“I just want to make it clear that we don’t like Nazis either — we wish no one held those views,” Hamish McKenzie, a co-founder of Substack, said in a statement. “But some people do hold those and other extreme views. Given that, we don’t think that censorship (including through demonetizing publications) makes the problem go away — in fact, it makes it worse.”The response came…

A man involved in a brazen plot to manipulate the stock price of a New Jersey deli’s parent company pleaded guilty to securities fraud on Wednesday.James T. Patten, 64, of North Carolina, admitted to orchestrating a series of misleading trades in an apparent bid to enrich himself and two co-defendants in U.S. District Court in Camden, N.J.Mr. Patten faces up to 20 years in prison and a fine of up to $5 million for securities fraud. He also pleaded guilty to a charge of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison and…

On Dec. 11, NASA engineers anxiously gathered at the Jet Propulsion Laboratory in Pasadena, Calif., to view a cat video, wondering if it would be in the pristine high definition for which they had hoped.To their relief, it was. For the first time, high-definition video — this one of a lab employee’s cat named Taters — was streamed from 18.6 million miles away, or roughly 80 times the distance from the Earth to the moon, the farthest ever.The demonstration was part of NASA’s Deep Space Optical Communications experiment, aimed at improving the infrastructure for communication beyond the Earth’s orbit. As…

The European Union on Monday announced a formal investigation into X, the social media platform owned by Elon Musk, for failure to counter illicit content and disinformation, a lack of transparency about advertising and “deceptive” design practices.The inquiry is perhaps the most substantial regulatory consequence to date of X, which has scaled back its content moderation policies since Mr. Musk bough the service, once known as Twitter, last year. The company’s new policies have led to a rise in incendiary content on the platform, according to researchers, causing brands to scale back advertising.In going after X, the European Union is…

Higher for (not much) longer The “everything rally” has gone global, sending stocks and bonds soaring in Asia and Europe and lifting U.S. stock futures, after investors got their clearest signal yet that the Fed would begin cutting interest rates soon. Hopes are growing, too, on Thursday that other central banks will follow suit.The Fed delivered an unexpectedly dovish forecast on Wednesday, penciling in three rate cuts next year. Those moves are projected to lower the Fed’s prime lending rate to 4.6 percent, a notable drop from the central bank’s last estimate in September.The revision sent the Dow Jones industrial…