Welcome to the Tech Mem Ride Home for Monday, July 26, 2021.

I'm Brian McCullough.

Today is the DOJ probing tether for bank fraud.

When might face ID come to the MAC?

What do leaked photos tell us about the next Surface Duo?

And I will spend the entire second half of the show trying my best to explain the seeming

tech apocalypse happening right now in China.

Here's what you miss today in the world of tech.

crypto is having a bit of a rebound morning this morning in spite of at least

thus far this news according to sources the US Department of Justice is

probing weather executives at Tether committed bank

fraud in the early stages of that product.

This is a big deal, not just because Tethers in circulation are worth around 62 billion dollars but

also because and you read this right for various reasons tether underpins around 50% of

all existing Bitcoin trades at the moment.

Quoting Bloomberg.

Teather's pivotal role in the crypto ecosystem

is now well known because the token is widely used

to trade Bitcoin, but the Justice Department investigation is

focused on conduct that occurred years ago when Tether was in its more nascent

stages. Specifically federal prosecutors are scrutinizing whether Tether concealed from banks that transactions were linked to crypto, said three people with direct knowledge of the matter who asked not to be named because the probe is confidential.

Criminal charges would mark one of the most significant developments in the US government's crackdown on virtual currencies.

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