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WSJ Tech News Briefing

TNB Tech Minute: Some FTX Customers in Limbo Over Foreign Crypto Crackdown

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 7 July 2025

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: Artificial intelligence company CoreWeave to acquire Core Scientific in $9 billion deal. And, Tesla stock closes down after CEO Elon Musk says he’s creating a new political party. Julie Chang hosts. Programming note: Starting this week, Tech News Briefing episodes will be released on Tuesdays and Fridays, and the TNB Tech Minute will be released twice on weekdays, in the morning and afternoon. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Oh, that's my prime delivery.

0:01.6

What, already?

0:02.7

Only one thing can match the buzz of Prime's fast delivery.

0:06.2

And that's the buzz of Prime's entertainment.

0:09.0

What are we watching?

0:09.7

Heads of state, that new action comedy with Idris Elber as the Prime Minister,

0:13.3

John Sina as the president, and Priyanka Chopra Jonas, as their only hope.

0:17.0

It looks like a blast.

0:18.3

From fast delivery to explosive entertainment, it's on Prime. For only

0:23.0

899 a month, join now. Content includes limited ads, subscription, or to renews. For more information,

0:28.2

go to amazon.com.uk.U.K.S. Prime. Here's your afternoon TNB Tech Minute for Monday,

0:34.5

July 7th. I'm Julie Chang for the Wall Street Journal. FtX customers who live in

0:39.5

places where cryptocurrency transactions are restricted may not get their money back. The crypto

0:45.2

exchange collapsed and filed for bankruptcy in late 2022 after a surge in customer withdrawals

0:51.2

triggered a liquidity crisis. As part of its bankruptcy plan, the company would

0:55.6

repay customers with interest, but FTX says hundreds of millions of dollars of customer claims are

1:01.0

at risk of being held up or potentially not being paid because the account holders live in China,

1:06.6

Afghanistan, or other areas that restrict cryptoactivity. The foreign payments represent 5% of the

1:12.9

value of the allowed claims in FTX's bankruptcy case. Artificial intelligence company CoreWeave will

1:19.7

acquire Core Scientific in an all-stock transaction valued at about $9 billion. CoreWeave went

1:26.7

public earlier this year. It said the deal will help

1:29.4

verticalize its data setter footprint. Core scientific shareholders will get a fraction of a share

...

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