Apple just marked the end to one of the most important product lines in its history. The company has discontinued the iPod touch, which will only be available in stores “while supplies last.” Not surprisingly, the company maintained that the “spirit of iPod” continues in other products, including the iPhone, iPad and Apple Watch.
The move has been expected for a long time. Apple last updated the iPod touch in 2019, and that was just to provide a faster processor in a design that hadn’t fundamentally changed since 2012. The iPod hasn’t played an important role in Apple’s product strategy for a long time, and it was increasingly a niche product aimed at kids and those who didn’t want to use their phones for remote controls or workouts. Apple dropped the iPod classic in 2014, and scrapped both the iPod nano and iPod shuffle in 2017.
Even so, it’s a sad moment that closes a vital 20-year chapter in Apple’s history. The company introduced the first iPod in October 2001, at a time when the firm was highly dependent on computers and still on shaky financial ground. While the Mac requirement limited interest for the first couple of years, sales exploded after Windows users joined the fray — Apple figured out the recipe for an easy-to-use MP3 player, and did a good job of marketing that concept to customers (see its well-known silhouette ads as an example).
The iPod effectively made Apple the general consumer electronics giant it is today. It quickly dominated the MP3 player market, and iPods represented 40 percent of its revenue by 2006. Apple not only turned its fortunes around, but became a household name after years of being written off as a dying brand. The iPhone’s much-hyped 2007 launch was helped in no small part by the iPod’s success. People were looking for the “iPod phone,” and the iPhone’s media capabilities were arguably its strongest selling point in its early days.
The iPhone helped start the iPod’s downfall, of course. Many people only needed one device in their pocket, the smartphone, and iPod sales were in freefall by the early 2010s. Nonetheless, the iPod’s legacy remains intact. It’s the device that gave Apple a second chance, and laid the groundwork for a modern era where digital media devices are virtually ubiquitous.
You can forget about playing Gotham Knights on previous-gen consoles. Alongside a 13-minute gameplay demo (below), WB Games Montreal has revealed that its Batman-adjacent open world game will no longer be released for PS4 or Xbox One. You’ll need a PS5 or Xbox Series X/S to save Gotham City from your living room. The studio said it was cutting the older machines to offer the “best possible gaming experience,” although we wouldn’t be surprised if this helped WB make the game’s October 25th release date.
WB unveiled Gotham Knights in summer 2020, but delayed the game to 2022 less than a year later. The company settled on the October launch this March.
The gameplay demo, meanwhile, offers a good look at the variety you can expect. Each of the four superheroes plays very differently. You might pick Nightwing for acrobatic, melee-focused combat, while Red Hood thrives on his (non-lethal) guns. Crime-solving may rely on anything from straight-up brawling to motorcycle chases and augmented reality sleuthing. Crafting and skill advancement will be useful like they are in so many recent titles. In many ways, this is the DC Comics/WB response to Insomniac’s Spider-Man games — it’s a bid to combine free-roaming action with a meaningful narrative.
Russia’s alleged cyberattack campaign against Ukraine appears to have continued up to the very minutes before the invasion. Reutersreports the US, UK and European Union have formally blamed Russia for a large-scale cyberattack that disrupted Viasat’s satellite internet service an hour ahead of the February 24th assault. The hacking efforts permanently destroyed “tens of thousands” of satellite terminals, Viasat said, while the UK noted that the attack affected central European internet users and wind farms in addition to the Ukranian military and some civilian customers.
The accusations come in response to “new UK and US intelligence” linking Russia to the cyberattack, according to the UK’s Foreign Office. Russia hadn’t responded to the claims as of this writing, but has historically denied cyberattacks regardless of evidence.
The hack targeting Viasat likely had its intended effect. Ukraine cybersecurity official Victor Zhora disclosed in March that the anti-satellite effort led to a “huge loss” in communications at the very start of the war. With that said, Ukraine has been better-prepared in at least some instances. It claims to have fended off an attack against an energy provider in April, for example. While this latest attribution won’t dissuade Russia from conducting more attacks, it might signal that Ukraine and its allies are more aware of how to defend themselves online.
Meta has revealed more of how NFTs will work on Instagram. In the US-based test, you can show what you’ve bought or created for free by connecting your Instagram account to a compatible digital wallet and posting for the world to see. If you like, the social network can automatically tag both creator and collector using public blockchain data. You can display info like a description, too. And yes, as mentioned, NFTs will shimmer to help you flaunt your art collection.
Instagram will initially support wallets from MetaMask, Rainbow and Trust Wallet. Coinbase, Dapper and Phantom are “coming soon.” Public data will come from Ethereum and Polygon at first, with the previously promised Flow and Solana support arriving in the near future.
The social site also stressed that NFTs were still subject to community rules. It was also aware that NFTs, like cryptocurrency and other blockchain products, can be harmful to the environment. The company hoped to offset the CO2 emissions from displaying digital artwork by purchasing renewable energy.
Meta will expand NFT support to Facebook, and will let Instagram users display their pieces as augmented reality stickers in Stories. There will be “additional features” for both creators and collectors, the company added. Whether you think NFTs are fads or permanent fixtures, it’s clear Meta will be invested them for a while as it builds out its vision of the metaverse.
Google’s I/O developer conference is finally returning as an (limited) in-person keynote for 2022, but that’s not the biggest story likely to emerge from the event. This year, in addition to the customary Android update, it’s likely to involve some of the company’s most important hardware introductions in recent memory — including the first Pixel smartwatch. Here’s what to expect when Sundar Pichai and crew take the stage.
It will be easy to tune in, we’d add. Google is streaming the presentation live through its YouTube channel on May 11th at 1PM Eastern, including in a version with American Sign Language interpretation. You can expect coverage and commentary from Engadget during and after the keynote.
Pixel Watch and Wear OS 3
Android Central
The true star of I/O may have already been outed despite Google’s attempts to keep it under wraps. Rumors of an official Google smartwatch have circulated for years, but the company now appears close to introducing one in the form of the Pixel Watch. A prototype of the device was apparently found at a restaurant by an Android Central source, but Google has also filed for a Pixel Watch trademark in recent weeks. It may be just a matter of when the timepiece arrives, not “if.”
The prototype may speak volumes about Google’s plans. True to past rumors, the Pixel Watch appears to have a sleek rounded case, a rotating crown and virtually no bezels. Think of it as Android’s answer to the Apple Watch’s elegant design, just with a circular screen. Much like its rival, the smartwatch would use proprietary but easily swappable bands to help you customize the look. Photos also suggest there will be at least some form of heart rate monitoring, while a previous code leak from 9to5Google hinted at an Exynos processor inside.
However, the real centerpiece may be the software. The Pixel Watch is believed to serve as a showcase for Wear OS 3, a major smartwatch interface developed with help from Samsung. It’s expected to include easier navigation, Tiles support (read: widgets) for third-party apps, improved performance and more customization for watchmakers. Fitbit activity tracking will be key to the experience, and code discovered in the new OS’ emulator hinted the fitness app might be integrated into some watch faces. While Wear OS has long included some exercise-friendly functionality, the Pixel smartwatch might not need any aftermarket apps to deliver truly robust tracking.
There’s no guarantee Google will debut the Pixel Watch at I/O, and details like pricing remain a mystery. However, reporter Jon Prosser, who generally has a strong track record with leaks, has claimed the watch could arrive on May 26th, just a couple of weeks after I/O. If so, we’d expect Wear OS 3 to roll out to compatible third-party watches (such as recent examples from Fossil, Mobvoi and Samsung) in the weeks ahead.
Pixel 6a
OnLeaks/91Mobiles
Google hasn’t introduced a meaningfully new mid-range phone since 2020’s Pixel 4a 5G (the Pixel 5a was virtually identical), so we’re overdue for new hardware. Thankfully, that might just be in the pipeline. Murmurs have persisted for months of a Pixel 6a that would bring the Pixel 6 aesthetic and key features to a more affordable handset.
Where previous budget Pixels typically preserved the camera tech of high-end models while using slower processors, Google might reverse its strategy with the 6a. The 6.2-inch phone will reportedly use the same speedy Tensor chip as in the Pixel 6, but rely on the 5a’s 12-megapixel main rear camera instead of the Pixel 6’s more advanced 50MP unit.
There would also still be an OLED screen with a (hopefully improved) under-display fingerprint reader, and fast millimeter wave 5G could be available with at least one variant. However, you might have to wave goodbye to the headphone jack on lower-cost Google phones.
As with the Pixel Watch, there are hints Google might unveil the Pixel 6a at I/O and launch it soon afterward. FCC filings for the 6a emerged last month, suggesting the company might ship the phone sometime in May. The biggest unknown at this stage is the price: Google sold the 5a for $449, but it’s not clear if the follow-up will be just as affordable.
Android 13
It’s no secret that Google will reveal more about Android 13 at I/O 2022. The company has been testing developer previews of the new operating system since February, and it historically uses I/O to share many of a future Android revision’s user-facing features for the first time, such as Android 12’s Material You interface. All the minor, developer-focused tweaks you’ve seen so far likely won’t represent everything you’ll get when the OS is finally ready (likely late summer).
There haven’t been many clues as to what those larger changes will entail, but Google has so far focused on minor interface revisions and under-the-hood technology upgrades. The Android 13 beta already includes expanded Material You theming, an improved media playback box, a speedier QR code reader and (at least for some users) smart home control while the device is locked.
Behind the scenes, you’ll also see more conveniences as well as greater respect for both your privacy and free time. Android 13 will introduce Bluetooth LE audio support, and Fast Pair should be built-in to help you quickly set up earbuds and other accessories. A form of spatial audio might also be available, too. Apps, meanwhile, won’t have quite so much free rein. Software built for the new platform will have to request permission for media access and notifications. Even Google’s photo picker is now more restrictive. You should see fewer apps overstepping their boundaries, not to mention nagging you with unwanted alerts and promos.
It won’t be at all surprising if there are more substantial changes in store. From all the evidence so far, however, Android 13 is more of an iteration of Android 12 than a radical rethink. And that’s okay – Google now has more of an opportunity to polish its code and address complaints about last year’s overhaul.
Wildcards: Pixel Buds Pro, Nest Hub tablet and a foldable
Billy Steele/Engadget
While there are only a few expected hardware unveilings at I/O this year, we wouldn’t rule out some out-of-left-field teasers. Most recently, Jon Prosser floated the possibility of Pixel Buds Pro earbuds that would come in a range of colors. While he didn’t provide details or images, the “Pro” badging might hint at active noise cancellation and other features that haven’t found their way into existing Pixel Buds. While they might not appear at I/O (if ever), they would make sense given Android 13’s support for spatial audio and Bluetooth LE music.
We also wouldn’t completely rule out the oft-rumored Pixel foldable. Google designed Android 12L with foldables and tablets in mind, and the company’s leaked “Pipit” could demonstrate what that software could do. Don’t count on it arriving at this month’s event, though. Although 9to5Googleunearthed camera code implying a 2022 release, there haven’t been any real signs alluding to an I/O appearance. If Pipit is still on track, it might not arrive until late in the year.
We wouldn’t hold out hope for a rumored detachable Nest Hub where the screen can be removed and used like a tablet. The first discussions of this convertible Nest model only surfaced in March, and Google has frequently reserved its Nest announcements for the fall.
Instead, the most likely surprises are those you most often see at I/O. You might well see Google update Android TV (plus its Google TV front-end), and it’s easy to see upgrades coming to services like Maps and Photos. AI-based products using Duplex and similar technologies could appear at the conference. And then there’s the more audacious experiments — few would have anticipated the Project Starline AR video chat booth, even in the throes of a pandemic.
Kendrick Lamar is out to show that deepfakes are useful for more than misinformation and creepy porn. The rapper has shared a music video for his “The Heart Part 5” single that revolves exclusively around deepfake celebrity faces superimposed on Kendrick’s body as he spits bars. The clip seamlessly transitions between AI-based visages of famous and occasionally notorious figures in recent Black culture, including Kanye West, OJ Simpson, Will Smith and late icons like Kobe Bryant and Nipsey Hussle.
Deep Voodoo, a studio formed by South Park creators Trey Parker and Matt Stone, was responsible for the deepfake imagery. The video was directed by Kendrick and Dave Free.
As with the lyrics themselves, the overlaid faces serve as commentary on the Black experience. They represent different aspects of a common voice, and appear alongside key verses (such as Kanye for bipolar disorder, and Nipsey for murder). In that sense, Kendrick’s video is a reminder that deepfake technology is just a tool, and can be useful for artistic expression in the right hands.
There’s a good chance you have enough devices with wireless charging support that a single-device pad or stand just won’t cut it. However, buying a multiple-item charger can be a headache. You not only have to contend with varying levels of support, but different designs — the last thing you want is something that won’t fit on your nightstand. Don’t fret, though. We’ll walk you through what you need to know while shopping for a multi-device charger, and recommend a few models that belong on your short list.
Future-proofing
It won’t be shocking to hear that your phone choice influences your choice in chargers. Only iPhone owners will need to consider Apple Watch compatibility. Likewise, you’ll need an Android phone if you expect to power a Galaxy Watch. Buy an iPhone 12 or newer and you can attach your phone magnetically using MagSafe, while the latest Android phones often have some form of fast wireless charging.
However, it’s not simply a question of getting the fastest charger. You should consider what you might buy in the future. Don’t buy a two-device charger if you have an iPhone and AirPods, but have been eyeing an Apple Watch. And if you think you might switch to Android (or vice versa), you’ll want to get something more generic that doesn’t lock you into any one ecosystem.
Some chargers include cradles, trays and other features that are heavily optimized for particular products, and might not even account for year-to-year changes. Some vertical stands are too tall for small phones like the iPhone 13 mini, for instance. While you can never completely guarantee that next year’s phone or watch will work, it’s worth buying something more likely to last.
Having said all this, don’t be afraid to get a charger with vendor-specific features if you’re fiercely loyal to one brand. Apple isn’t expected to ditch MagSafe any time soon, and Samsung will likely keep making Galaxy Watches for a while to come.
Where and how will you use it?
Sebastian Bednarek on Unsplash
You’re probably buying a multi-device charger with one location in mind. It might sit on your nightstand or on your desk. Not everyone buys a charger just for themselves, though; you might want to use one as a shared station for you and a partner.
If the charger will sit on your nightstand, you’ll likely want a compact, stable unit that won’t swallow all your free space or tumble to the floor. You may also prefer a lay-flat phone pad so your screen is less likely to keep you awake. The Apple Watch and some other smartwatches can double as tiny alarm clocks, so you might want a vertical charging option for any wristwear.
At a desk, however, you may want a vertical phone stand so you can check notifications. Will the charger sit on a low table? Horizontal pads may make it easier to grab your devices in a hurry. Travel chargers should fold up or otherwise protect the pads while they’re in your bag. And, yes, aesthetics count. You may want something pretty if it’s likely to sit in a posh room where guests will see it.
If it’s a shared charging station, you’ll want something with multiple generic surfaces, and you’ll probably have to forgo charging more than one watch at a time. In those cases, consider the handful of 4-in-1 chargers on the market, or models with USB ports.
Performance
It’s no secret that wireless charging is typically slower than wired, and powering multiple devices adds a new wrinkle. As these chargers often have to support a wide range of hardware, you’ll have to forget about the fastest, device-specific options from brands like Google, OnePlus and Samsung.
That’s not to say these will be slow, but there just isn’t much separating them on the speed front. As a general rule, the quickest multi-device chargers tend to top out at 15W for phones. And you’ll need a MagSafe charger if you want to get that full 15W on an iPhone.
It’s rare that you’ll find a truly slow example, mind you. Even some of the most affordable options we’ve seen will recharge your phone at a reasonable 7.5W or 10W, and the 5W for other devices is more than enough. If you’re only docking overnight or while you work, speed won’t make a huge difference. Just be sure that whatever you buy is powerful enough for a phone in a case. It’s also worth noting that fast charging for other devices is rare, although you’ll occasionally find speedier options for the Apple Watch Series 7.
Quality, box contents and small details
Melvin Thambi on Unsplash
The difference between a good charger and a great one often boils down to little details. You won’t always need to pay extra to get those, but a larger outlay may be worthwhile to avoid frustrations for years to come.
A textured surface like rubberized plastic or fabric will reduce the chances your expensive gadgets will slide off their charging points. The base should have enough grip and weight that the charger won’t easily shift out of place. Any floating or vertical stands should be sturdy — steer clear if there’s any wobble.
You’ll also want to make a note of what’s included in the box. Some chargers don’t ship with power adapters, and we’ve seen numerous models whose Apple Watch “stands” are merely holders for your existing charging puck.
Then there’s helpful touches like status lights for confirming correct placement, although you’ll want to make sure they dim or shut off after a certain amount of time. And while it’s still true that cradles and trays can limit compatibility, you do want your devices to stay where you put them. Shelves and lips can prevent your phone or watch from sliding. Oh, and be wary of floating smartwatch mounts, as heavier timepieces might sag.
Engadget picks
At this stage, you should have a good sense of what you want and what to look for. Now, it would be impossible for us to test every charger, but we’ve tried numerous models and have a few favorites.
Best premium 3-in-1 charger: Belkin BoostCharge Pro 3-in-1 Wireless Charging Pad with MagSafe
Jon Fingas/Engadget
It doesn’t get much better than Belkin’s most advanced model if you’re an Apple devotee. The BoostCharge Pro 3-in-1 pad offers 15W MagSafe charging for your iPhone, fast charging for the Apple Watch Series 7 and a space for AirPods or other earbuds with Qi-compatible cases. The base is weighty, covered in rubberized plastic and includes a discreet status light for your earbuds. More importantly, it supports more devices than you might think. Although the Pro pad uses MagSafe, the horizontal layout lets you charge virtually any phone at reduced speeds. We also have to give Belkin kudos for one of the most convenient Apple Watch chargers we’ve seen. It not only works horizontally and vertically, but includes a knob to adjust for different sizes and third-party cases.
This is quite large compared to some 3-in-1 chargers, so it’s not the greatest choice for a nightstand. Consider the smaller footprint of its counterpart, the BoostCharge Pro 3-in-1 Wireless Charger with MagSafe 15W, if you have an iPhone 12 or newer. You also won’t find USB ports, and the indented earbud pad rules out a second phone. Still, it’s easily worth the $150 asking price.
There are many quality high-end chargers to choose from, but Logitech’s Powered 3-in-1 Dock offers a few features that help it rise above. It consumes relatively little space, and the rubberized horizontal and vertical chargers deliver up to 10W while gripping your devices tightly, so both you and your partner can top off.
It has a few limitations, though. The vertical stand isn’t well-suited to the iPhone 13 mini and other small phones. And while the floating stand works with most Apple Watches, heavier ones tend to sag (such as this author’s steel Series 5 with a Leather Link strap) and might not charge properly. If those aren’t issues, though, your $130 will be well-spent.
Best budget 3-in-1 charger: Anker 533 Wireless Charger
Anker
You can find plenty of more affordable 3-in-1 chargers. Few, however, offer quite as much for the money as the Anker 533 Wireless Charger 3-in-1 Stand. It folds up for travel, offers an adjustable-angle 10W vertical stand and lets you charge an Apple Watch either horizontally or vertically. There’s also a 20W USB-C power adapter in the box, so you won’t have to buy an aftermarket brick (or rely on proprietary cabling) to get started.
The limitations mostly stem from the cost-cutting measures. You probably won’t have room for a second phone. And like some chargers we’ve seen, the Apple Watch mount is a bring-your-own-cable affair that only supports older USB-A connections. The included cable with your Series 7 or SE won’t work here. At $60, though, this is a good bargain.
Runner-up: Otterbox 3-in-1 Charging Station for MagSafe
Jon Fingas/Engadget
If you’re willing to spend a bit more and live in Apple’s universe, the Otterbox 3-in-1 Charging Station for MagSafe is worth your attention. The extremely small footprint is ideal for nightstands. You can tuck your phone, earbuds and Apple Watch into an area normally reserved for a single device. The company supplies a surprisingly powerful 36W USB-C power adapter in the box that serves as a fast wired option in a pinch.
The caveats are clear. The floating MagSafe stand rules out Android phones and older iPhones. You’ll need to bring your own Apple Watch cable, and the USB-A port won’t work with the USB-C cables bundled with newer watches. The horizontal-only watch mount also rules out clock functionality. The overall balance of space and utility is still difficult to top for $80.
Best 2-in-1 charger: Mophie Dual Wireless Charging Pad
Mophie
The 2-in-1 field is highly competitive and makes it difficult to choose an absolute winner. However, Mophie’s Dual Wireless Charging Pad hits many of the right marks. It can charge two devices at up to 10W each, making it a great pick for a two-phone household. The fabric surface with rubberized trim should keep your gadgets steady, and the status lights will confirm accurate placement. There’s even a USB-A port to plug in your watch charger or any other wired hardware.
The complaints are few. You won’t charge at 15W, and we’d rather have USB-C than USB-A. It’s nonetheless a safe choice at $80, and worth buying over less expensive options.
Runner-up: Samsung Super Fast Wireless Charger Duo
Jon Fingas/Engadget
Multi-device chargers from phone manufacturers tend to be either compromised or highly proprietary, but Samsung’s Super Fast Wireless Charger Duo (sometimes known as the 15W Duo Fast Wireless Charger) bucks that trend. It’s compact and delivers high-speed charging for one phone and an accessory, whether it’s a Galaxy Watch or another manufacturer’s earbuds. The status lights will even dim at night, and change color to indicate when your batteries are full.
This won’t help for two-phone households, and Samsung only guarantees 15W charging for some of its own phones (the Galaxy Note 10, Galaxy S20 and later). You’ll also want to be mindful of which version you buy, as there are variants with and without a power adapter in the box. Neither is cheap at respective prices of $90 and $70. This remains an elegant charger for nightstands and travel, though, and the pads are sufficiently device-agnostic.
Best charger for two people: Mophie 4-in-1 Wireless Charging Mat
Mophie
There are few wireless chargers built with more than one person in mind, but Mophie’s 4-in-1 Wireless Charging Mat is the most well-rounded of the bunch. The pad can handle up to four devices wirelessly at 10W, including two phones and two accessories. There’s also a spare USB-A port for charging earlier Apple Watch models (using the included mount and your own cable) or wired items. A fabric surface, subtle device trays and indicator lights will also take the mysteries out of charging.
This is a giant charger compared to most, and you might find it limiting if your home has more than one Apple Watch or accessories that won’t fit the smaller charging pads. Even so, Mophie is offering considerable value for $150. The 4-in-1 does more than some 3-in-1 chargers at that price, and it doesn’t suffer the compatibility issues of rivals like Nomad’s Base Station Pro.
Today is a good day to get started building a connected home theater. Amazon has the Roku Streambar on sale for just $99, well below its usual $130 price. If you crave improved sound, the more powerful Streambar Pro is back down to $150 ($30 off). And don’t worry if you already have good speakers and just want an advanced media hub — the current-generation Apple TV 4K with 32GB of storage is still on sale for $150 (normally $179).
The Roku Streambar represents one of the easier ways to drag an older TV into the modern era. You’re getting both a 4K HDR-capable streaming device and a solid speaker upgrade in a compact package. Roku’s platform offers access to a wide range of services (including support for AirPlay, HomeKit, Alexa and Google Assistant), and you can even use the Streambar as a Bluetooth speaker if you just want to play tunes from your phone. This might be an ideal fit for a small apartment, a dorm or a bedroom TV.
The base Streambar has only modest bass, and none of Roku’s soundbars has Dolby Vision HDR support or an Ethernet jack for wired networking. You can improve audio quality with the Streambar Pro, however, and there are kits to add surround sound or a subwoofer (all of them $30 off) if you have the money to spend. It’s safe to say even the entry model is a significant upgrade over the usual built-in speakers, and might offer apps beyond what your TV allows.
Follow @EngadgetDeals on Twitter for the latest tech deals and buying advice.
Cryptocurrency mixers are sometimes used to help online criminals launder their stolen money by hiding its true origins, and the US Treasury is now ready to clamp down on them when hostile governments are involved. The department has issued its first sanctions against a Bitcoin mixer, Blender.io, for allegedly and “indiscriminately” helping North Korea launder over $20.5 million in crypto from the $620 million Axie Infinity heist and other crimes.
The measures block all Blender property in the US (or controlled by US residents), as well as US-linked transactions and any entities where blocked people have majority control. On a basic level, blocks create an audit trail and prevent sanctioned entities’ funds from changing hands.
The sanctions come after officials pinned the Axie Infinity theft on Lazarus Group, an outfit frequently linked to the North Korean government’s cybercrime and cyberwarfare efforts. North Korea has been repeatedly accused of hacking banks and cryptocurrency holders to evade international sanctions and finance its weapons programs.
The Treasury’s Office of Foreign Assets Control also used the opportunity to identify four digital wallets Lazarus reportedly used to launder the rest of the Axie Infinity crypto. The perpetrators relied on one “getaway” wallet for the crime itself.
The agency stressed that most cryptocurrency activity was legal, and that it was only targeting mixers that aid criminals. However, there’s a not-so-subtle warning here: the US is willing to sanction crypto service providers if they tolerate state-backed hackers, not just the nations directing those hacks.
It’s no secret these days that GPU makers profited from the early cryptocurrency mining boom, but NVIDIA is now facing some repercussions as a result. The company is paying $5.5 million to settle US Securities and Exchange Commission charges it failed to disclose that crypto mining played a “significant” role in its surging revenue from GPU sales throughout fiscal 2018. NVIDIA allegedly violated both the Securities Act and Securities Exchange Act when it didn’t reveal that its success was tied to a “volatile business,” potentially misleading investors who might have thought this was the result of the firm’s usual gaming-focused strategy.
The SEC’s order also said NVIDIA misled investors by acknowledging that crypto demand did affect other aspects of its business at the time. That implied mining wasn’t a significant part of the gaming business’ success where it was for other products, according to the regulator. NVIDIA will have to abide by a cease-and-desist barring it from future rule-breaking.
An NVIDIA spokesperson declined to comment. The brand has increasingly seen crypto mining as more of a liability to its gaming GPU sales than a benefit, though. It started limiting the mining capabilities of RTX GPUs in 2021 in a bid to free up cards for the intended audience. The company even launched dedicated mining cards that year in a bid to satisfy crypto fans without cutting into demand for its GeForce GPU line.
The payment is tiny for a company that made $7.6 billion in its most recently reported quarter. With that said, the modest settlement was somewhat expected given an unsuccessful past attempt to demand compensation. Tom’s Hardwarenoted in March 2021 that a judge dismissed a lawsuit accusing NVIDIA of deceiving investors — it was no secret many GPUs were destined for crypto miners, the judge ruled. While the SEC found wrongdoing, it was going to have a harder time showing that NVIDIA caused enough damage to warrant a large penalty.
