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DOJ Pushes For Google To Divest Chrome In Latest Antitrust Salvo

by THEFUTURE.TEAM

November 20, 2024

In a seismic shift for the tech industry, the U.S. Department of Justice (DOJ) is gearing up to request a federal court to compel Google to sell off its Chrome web browser. This dramatic move, reported by Bloomberg, marks a critical escalation in the ongoing antitrust battle against the search giant.

Chrome Divestiture: A Game-Changing Proposal

The DOJ’s recommendation to Federal Judge Amit Mehta, who previously ruled on Google’s search monopoly, aims to force the sale of Chrome – a cornerstone of Google’s multi-billion dollar advertising empire. This proposal comes after a summer 2024 ruling that found Google guilty of illegally maintaining a monopoly in the search market.

Beyond Browser Sales: Additional Measures on the Table

Justice Department officials are not stopping at Chrome’s sale. They’re also pushing for Google to license Chrome’s data and results while giving websites enhanced control over their content’s use in Google’s AI products. These measures are designed to create a more competitive digital landscape.

Chrome’s Dominance by the Numbers

Chrome’s market supremacy is stark: it commands a whopping 66.7% of the browser market share, dwarfing competitors like Safari (18%), Edge (5%), and Firefox (3%). This dominance underscores the browser’s critical role in Google’s ecosystem.

The Financial Stakes

The potential sale of Chrome could significantly impact Google’s bottom line. Last quarter alone, Google’s core advertising business, deeply intertwined with Chrome, generated $65.9 billion – a substantial portion of the company’s $88.3 billion total revenue.

A Long Road Ahead

This latest development is part of a broader antitrust saga. Judge Mehta’s August ruling found Google guilty of anti-competitive practices through exclusive distribution agreements and inflated ad pricing. As Google prepares to appeal, the court is set to consider the DOJ’s proposed changes in April 2025, with a final decision expected by August 2025.

As this legal battle unfolds, the tech world watches with bated breath, potentially reshaping the digital landscape and setting new precedents for tech industry regulation.

Bitcoin Surpasses $94,000 For The First Time

by THEFUTURE.TEAM

November 20, 2024

Bitcoin surged to a historic high of over $94,000, fueled by reports that Donald Trump’s media company is negotiating to acquire the crypto trading firm Bakkt. The news has raised optimism for a cryptocurrency-friendly environment under the incoming Trump administration.

The world’s largest cryptocurrency has more than doubled in value this year, last trading at $92,104 during Wednesday’s Asian session after hitting $94,078 late the previous day.

According to *The Financial Times*, Trump Media and Technology Group, the operator of Truth Social, is nearing an all-stock deal to acquire Bakkt, a firm backed by Intercontinental Exchange, the owner of the New York Stock Exchange.

Tony Sycamore, a market analyst at IG, credited Bitcoin’s new record to the Trump deal reports and the first day of options trading on the Nasdaq for BlackRock’s Bitcoin ETF.

Cryptocurrencies have been rallying since the U.S. election on November 5, as traders anticipate a more relaxed regulatory approach under President-elect Trump. This has injected new momentum into Bitcoin following months of stagnation.

The excitement has propelled the global cryptocurrency market’s value to an all-time high of over $3 trillion, according to CoinGecko.

Chris Weston, head of research at Australian broker Pepperstone, noted strong buying pressure for Bitcoin, adding, “Another kick higher should bring in fresh interest from those who chase strength.”