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Here's your afternoon TNB Tech Minute for Thursday, October 23rd. I'm Julie Chang for the Wall Street Journal.

We exclusively report that President Trump has pardoned Champang Jiao or CZ, the convicted founder and

former CEO of Crypto Exchange Binance. In 2023, the company pleaded guilty to violating U.S.

anti-money laundering requirements and was barred from operating in the U.S. CZ left prison in

September last year after serving four months on related charges.

Yesterday's pardon follows months of efforts by CZ to boost the Trump family's own

crypto company, World Liberty Financial, and Binance has been one of the main drivers of the growth

of World Liberty's dollar-pegged cryptocurrency, USD1.

Three European aerospace and defense giants plan to join their space activities into a new

company to take on Elon Musk's SpaceX, as well as enhance Europe's autonomy in space.

Airbus, Leonardo, and Talas's new entity doesn't have a name yet, but the companies say it'll

employ about 25,000 people and be operational in 27 should it obtain antitrust approval from the

EU. Airbus will hold a 35% stake, while Leonardo and Talis will each own 32 and a half percent.

Still, the three companies will have equal control.

Company executives say they expect demand for space services and infrastructure in Europe to

increase over the coming years. And Intel is showing progress in its turnaround effort.

Today, it reported sales growth in its core product line of PC processors

and shrinking costs, which were the results of cuts. The chipmaker posted income of $4.1 billion

for the third quarter. Intel shares are up more than 85% so far this year, with almost all

of the gains coming since August when the U.S. government announced

a 10% equity stake in the company. For a deeper dive into what's happening in tech, check out

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