Why did Google Sue Sonos Again? The Crypto Market Raised US$30.3 Billion in H1 2022! Tech Market Roundup

Here are some quick tech catch for you so that you stay updated with the latest crypto and tech news

Good morning Tech Fam, here's a quick tech update for you to catch on:

What's new today: The crypto market raised US$30.3 billion in H1 2022; Google on Monday sued high-tech speaker and audio technology company Sonos again.

Fast-Trach Insights: The impact of the Treasury Department's crackdown on Tornado Cash; Chinese tech firm Alibaba fired around 10,000 employees last month; Literacy tech tools come to the classroom to boost reading!

The crypto market has raised US$30.3 billion in funding in the first half of this financial year as reported by "India Today". This amount will outpace the total funding of US$30.2 billion received in 2021 despite the ongoing slowdown in the crypto market. The figure was raised in decentralized finance (DeFi), centralized finance (CeFi), and nonfungible tokens (NFTs) through 1,199 funding rounds in H1 2022 with US$10.3 billion going to the centralized funding sector. The NFT gaming sector, on the other hand, raised more than DeFi at US$4 billion. DeFi raised just US$1.8 billion.

The US Department of the Treasury has added the Tornado Cash crypto mixer to a list of sanctioned organizations, barring all US citizens from interacting with it and requiring that US assets belonging to Tornado Cash be reported to the Office of Foreign Assets Control. This was meant to stop criminals. But a lot of ordinary crypto investors with honest intentions are now at risk.

Google on Monday sued high-tech speaker and audio technology company Sonos again, alleging that the company infringed on its patents around smart speakers and voice control technology. The tech giant filed two lawsuits in the US District Court for the Northern District of California, and plans to file similar lawsuits with the US International Trade Commission soon, reports The Verge.

Some educators are beginning to test technology that could help them offer individualized learning tracks. Speech-recognition software would become a natural part of reading education, incorporated alongside physical books. Students would be assessed by the technology constantly without knowing it, helping teachers offer individualized learning tracks and empower students rather than moving everyone ahead regardless of how many have mastered the prior skills.

As per media reports, Chinese tech firm Alibaba has fired around 10,000 employees as a part of cost-cutting measures amid the slowing economy. To be specific, the tech company fired more than 9,241 employees during the June quarter, the report coming from South China Morning Post noted. The report also stated that with the recent lay off Alibaba trimmed the overall headcount to around 245,700.