Reddit Partners With Crypto Exchange FTX 🤝
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Here’s what’s happening:
- Zoom Updates Mac App with an important security fix
- Instagram now lets users remove weight loss ads
- Crypto platform BlueBenx halts withdrawal of funds
- Positive Food Co. raises funds
- Reddit Partners With Crypto Exchange FTX
Zoom Updates Mac App With an Important Security Fix 🩹
Video conferencing platform Zoom has rolled out a new version of its macOS app with a fix for a security vulnerability affecting the app's automatic updates feature.
In a security bulletin, Zoom said version 5.7.3 to version 5.11.3 of its macOS app contains vulnerabilities in the auto-update process that can be exploited by a local low-privileged user to gain root privileges to the operating system.
The good thing is that the vulnerability has been patched in version 5.11.5 of the Zoom app for macOS.
How did Zoom discover the flaw?
Patrick Wardle, a security researcher and founder of the Objective-See Foundation, a nonprofit that creates open-source macOS security tools, first uncovered the flaw and presented it at the Def Con hacking conference a few days ago.
Despite following responsible disclosure protocols and informing Zoom in December 2021, Wardle found that attempts to fix the exploitable bug by Zoom fell a little short.
After multiple attempts, zoom has now released a new patch to try and kill off the exploit.
Instagram Now Lets Users Remove Weight Loss Ads 🚫
Instagram now allows users to filter out weight loss-related ads on their news feeds.
What has Instagram done?
Instagram has updated its Sensitive Content Control feature that the platform introduced last summer by allowing users to filter content on more than just their Explore page.
The “body weight control” topic is the latest that Instagram has included on the list of topics that can be filtered out of users’ daily feeds.
What does Instagram have to say?
“In addition to Explore, you will now be able to control the amount of sensitive content and accounts you see in Search, Reels, Accounts You Might Follow, Hashtag Pages, and In-Feed Recommendations,” the company said in a statement.
Why has Instagram updated its feature?
It’s unclear if Instagram is following TikTok’s initiative or made its changes due to a petition created by a body-neutral influencer, Katie Budenberg, to include an option for filtering weight loss ads. Other social media apps have made similar decisions in recent years.
Crypto Platform Bluebenx Halts Withdrawal of Funds ❌
This Brazilian crypto lending platform has reportedly halted all fund withdrawals following a hack that drained it of a whopping $32 million.
How many users are affected?
BlueBenx has reportedly blocked all of its 22,000 users from withdrawing their funds.
What’s worse is that the company also has allegedly laid off most of its employees without making any details about the hack.
The What and Why?
With this news, BlueBenx has joined the growing list of crypto companies that failed to deliver on their promise of exorbitant yield returns this crypto winter.
The crypto lender promised up to 66% returns for users investing in cryptocurrencies via various in-house earning avenues.
Reports from local news suggest that the “extremely aggressive” lending practices led toBlueBenx halting all fund withdrawals.
What are investors doing?
Since safety is becoming a big question when it comes to high-yield services, more investors are moving on to lower-risk crypto yields as they ensure better safety and reliability.
Positive Food Co. Raises Funds 💰
Positive Foods Co. has raised $7 million in its latest funding round.
Who invested in the round?
The funding round saw participation from BlueYard Capital, Western Tech, Y Combinator, and Gaingels.
A flock of entrepreneurs, including Thrive Market CEO Nick Green, Instacart co-founder Max Mullen, Fitbit CEO James Park, Docker co-founder Solomon Hykes, Faire CTO Marcelo Cortes, Season CEO Josh Hix, Exactuals CEO Mike Hurst, Foursquare co-founder Naveen Selvadurai, WordPress co-founder Matt Mullenweg, Timehop co-founder Jonathan Wegener, and Behance founder Scott Belsky also participated in the round.
What will Positive Foods do with the money?
The company will use the capital to expand logistics and new channels beyond Whole Foods.
In addition, the funds will be used to gain more engagement, develop more products, and capitalize on new opportunities.
About Positive Food Co.
Founded in 2018 by James Chan, Schuyler Deerman, and Tomaz Stolfa, Positive Food Co. is a food company that is on a mission to make eating fresh & healthy food convenient & affordable.
The startup’s vertical integration expertise is primarily carried out in-house, together with manufacturing and a cold-chain logistics community.
Reddit Partners With Crypto Exchange FTX 🤝
US-based social media company Reddit has partnered with crypto exchange FTX's payment platform to manage their blockchain-based community points.
Under the partnership, Reddit users can now use the firm’s payment system, FTX Pay, to pay gas fees on transactions using community points.
That’s a wrap for today, ladies & gents. See ya next week!
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