Crypto in Russia, Apple’s Lobbying Blitz, and Extremism on X
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** CfA's August 9, 2024 Newsletter
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With your support, Campaign for Accountability is working to expose corruption and hold the powerful accountable.
** This Week's Updates:
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Russia Turns to Crypto as Sanctions Tighten
Yesterday, Russian president Vladimir Putin signed ([link removed]) a law legalizing international payments via cryptocurrencies, meaning Russian businesses may soon be able to use crypto to evade US sanctions and continue doing business across borders. The law has been framed as a “patriotic effort,” according ([link removed]) to crypto analyst and Russia expert Valerie Kennedy, designed to shore up the country’s wartime economy amidst a sharp downturn ([link removed]) . Some Russian arms dealers are already ([link removed]) evading sanctions using “stablecoins,” which are pegged to the value of the US dollar and kept safe from fluctuations experienced by currencies like Bitcoin. Now, the increasingly
isolated Russian government is moving to formalize this relationship, and give corporations formal permission to engage in sanctions evasion.
Apple CEO Tim Cook Steps Up Lobbying Efforts as Antitrust Enforcement Looms
On Monday, Judge Mehta of U.S. District Court for the District of Columbia ruled ([link removed]) that Google had acted as a monopolist to retain its dominance over the search engine market, illegally suppressing the development of competitors and extracting inflated profits from advertisers. Documents published as part of the lawsuit revealed that Google had spent billions ([link removed]) of dollars to ensure that its search engine was set as the default on web browsers and devices, locking in users who may not have otherwise chosen its products. These deals enriched companies like Apple, which collected ([link removed]) $20 billion from Google in 2022. If Google’s appeal fails, these companies will no longer be able to count on default payments from Google or any other entity.
Now, independent experts tell The Financial Times ([link removed]) that Apple will bear the brunt of Google’s monopoly judgement, as it may forgo default payments for the first time in decades. FT’s analysis also cites a new report ([link removed]) from CfA’s Tech Transparency Project (TTP), which explains how Apple CEO Tim Cook became his company’s most prominent lobbyist in the fight against antitrust enforcement and other regulatory threats. Visitor logs reveal that Cook has attended at least 11 events at the White House, in addition to three state dinners and multiple private meetings with Biden’s senior aides. TTP’s full report ([link removed]) contains more information on Cook’s lobbying activities around the world, including a
previously-unreported communications with EU officials.
Social Media Platforms Inflame Anti-Immigrant Violence in UK
On July 30, a group of far-right activists organized an anti-immigrant rally in Southport, a seaside town in the UK which had recently been the site of a mass-stabbing ([link removed]) that left three young girls dead. A series of viral social media posts ([link removed]) falsely claimed that the attacker was a recent asylum-seeker, and extremist organizations were quick to turn the rally into a riot ([link removed]) . From there, violence exploded across the country, as anti-immigrant mobs looted ([link removed]) immigrant-owned businesses and attacked hotels ([link removed]) that they
believed to be housing asylum seekers. As of today, nearly 500 ([link removed]) rioters have been arrested.
Home secretary Yvette Cooper, who oversees immigration and national security, has criticized ([link removed]) social media companies for failing to remove posts that spread disinformation and incited violence. White supremacist groups appear to have used barely-moderated platforms like Telegram ([link removed]) to coordinate messaging, which spread even further on X. As British authorities sought to contain the violence, X CEO Elon Musk shared ([link removed]) far-right disinformation and declared ([link removed]) that civil war was “inevitable” in the UK. Meanwhile, an X account owned by British white supremacist Tommy Robinson
([link removed]) has exploded in popularity; his posts have been viewed more than 434 million times since the riots began, and have attracted attention ([link removed]) from Musk.
Similar forces are at play in the United States, where white supremacist groups have taken advantage of the war in Gaza to spread antisemitic and Islamophobic conspiracy theories. Last week, Rep. Dan Goldman (D-NY) cited TTP’s research ([link removed]) in a letter ([link removed]) to Speaker Mike Johnson (R-LA), urging him to investigate X’s failure to contain hate speech and deplatform terrorist groups like Hamas and Hezbollah.
What We're Reading
Don’t waste your energy on a solar scam ([link removed])
IRS to start ‘intensifying audits’ on bogus employee retention claims ([link removed])
Oklahoma Crisis Pregnancy Centers See Big State Funding Boost ([link removed])
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Be on the lookout for more updates about our work in the upcoming weeks. Thanks again for signing up to be a part of CfA!
Sincerely,
Michelle Kuppersmith
Executive Director, Campaign for Accountability
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