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Top stories today:
- Tether launches aUSDT, 1st decentralized stablecoin backed by gold
- Adobe sued by DOJ over āannual, paid monthlyā default, other practices
- Runway announces text-to-video AI Gen-3 Alpha
- Acrobat AI chatbot adds multi-document analysis, image generation
0. Data and calendar
All values as of 1 AM ET / 10 PM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Tether launches aUSDT, 1st decentralized stablecoin backed by gold (XAUT)
Our view: more sustainable than ETH-backed stablecoins, as goldās price is more stable and its depositors do not expect massive yields.
2. Adobe sued by DOJ over āannual, paid monthlyā default, other practices
Adobe āhas harmed consumers by enrolling them in its default, most lucrative subscription plan without clearly disclosing important plan terms,ā says the DOJ.
Government scrutiny previously halted Adobeās $20B purchase of Figma. Now, standard SaaS subscription techniques are the target.
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4. Runway announces text-to-video AI Gen-3 Alpha, still less capable than OpenAIās Sora
10-second videos: what Gen-3 Alpha can do, vs. minutes for Sora.
Both are unreleased and have no release date scheduled.
