Top Tech News Today: CES 2023: Russian Exhibitors Barred from Tech Show At Las Vegas! Silvergate In Trouble: Crypto Bank Cuts Staff By 40% Amid Crypto Deposits Declining By 68%

Update from CES 2023, Russian exhibitors barred from tech show of gadgets! Read more tech news

Good Morning Tech fam, here are some quick tech updates for you to catch on to!

What's New Today: Employees Who Were Laid Off in Bulk by Twitter Are Still Waiting for Severance Offers Two Months Later.

Fast-Track Insights: Alex Mashinsky, CEO Of Celsius Network, Is Sued In New York On Charges of Cryptocurrency Fraud.

Due to Russia's invasion of Ukraine, CES is not allowing Russian companies to exhibit their products at the yearly gadget exhibition. The decision has only affected one possible exhibitor, according to a representative for the Consumer Technology Association, the trade association organising the event in Las Vegas. The spokeswoman added that while there were no Russian exhibitors at the show the year before, there were four there virtually in 2021. About 30 nations have sanctioned Russia as a result of the invasion, including the United States. Some Ukrainian tech companies and start-ups will showcase their products during the Las Vegas expo, according to CTA President and CEO Gary Shapiro, who earlier referred to the Russian incursion as a "tragic and criminal assault on the people and independent nation of Ukraine."

Employees of Twitter Inc. who were let go soon after Elon Musk took over are still waiting for information about their severance packages months after being fired, putting the new owner in further legal difficulties. On Nov. 4, a week after assuming control of the firm, Musk fired approximately half of Twitter's more than 7,000 employees. According to paperwork submitted to the state, nearly 1,000 of those fired lived in California. Both state and federal law compelled those employees to continue receiving regular paychecks for the previous two months.

A security researcher reported on Wednesday that hackers had amassed and uploaded the email addresses of more than 200 million Twitter users to a hacking website. Users whose personal information has been disclosed should be concerned about this development since it may increase the likelihood that hackers may target them. Alon Gal, the co-founder of Hudson Rock, calls it "one of the most major leaks" he has ever seen and predicts that it would result in an increase in cyberattacks including hacking, phishing, and doxxing.

Silvergate, a cryptocurrency bank, is in trouble as it reduces personnel by 40% and sells assets at a loss to cover $8.1 billion in customer withdrawals. Additionally, the company's crypto-related deposits decreased by 68% in the final quarter of 2017. The Wall Street Journal reported on Thursday that Silvergate had a run after the abrupt demise of FTX, requiring the bank to liquidate assets at a significant loss in order to fund the roughly $8.1 billion in user withdrawals.

The founder of Celsius Network, Alex Mashinsky, is being sued by the attorney general of New York for allegedly defrauding investors out of billions of dollars in digital currency by concealing the deteriorating state of his now-insolvent cryptocurrency lending platform. Letitia James, the attorney general, filed a complaint alleging that Mashinsky continued to promote Celsius as a secure alternative to banks while concealing hundreds of millions of dollars in losses on risky investments and offering interest rates as high as 17% on deposits.