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All you need to know today<\/em><\/p>\n Long story short, the German fintech giant is up to something. The company is reportedly missing $2 billion. The payments processor said that it couldn\u2019t publish its financials for 2019, as auditors at EY couldn\u2019t account for the $2 billion on the balance sheet.<\/p>\n Following that, it was announced that CEO Markus Braun had resigned \u201cwith immediate effect\u201d.<\/p>\n There’s a long story behind Wirecard’s string of fraudulent claims and accusations.<\/p>\n The company processes electronic payments for merchants such as FedEx and Fitbit. It pursued some aggressive international expansion strategies, such as launching an Asia-Pacific subsidiary in Singapore and reaching into the US market through the acquisition of Citigroup\u2019s prepaid card services division.<\/p>\n Stories began circulating last year about how Wirecard forged and backdated contracts at its Singapore office to inflate revenue.<\/p>\n Wirecard says that if it cannot produce audited financials this week, about 2 billion euros worth of loans could be terminated.<\/p>\n Now, to the news of the missing money, shares of Wirecard is down 46% last Friday, from Thursday’s 62% loss.<\/p>\n Facebook has made another splurge. This time, it’s acquired Mapillary, a Swedish mapping startup that uses software to tell what is in photos taken at ground level.<\/p>\n The company then lets other map builders use this street-level data to improve their own maps.<\/p>\n Mapillary\u2019s street-level data could help Facebook to bolster its map function against Google and Apple, by improving accuracy.<\/p>\n The terms of investment was not disclosed, but Mapillary has raised $24.5 million from investors over the last seven years from investors such as Sequoia and BMW iVentures.<\/p>\n Facebook is trying to ramp up its mapping efforts to compete with other big tech players. It is using a combination of machine learning, satellite imagery and partnerships with mapping communities to improve its maps.<\/p>\n With the acquisition, Mapillary\u2019s users will still be able to continue uploading imagery and using the map data from images on the platform.<\/p>\n This weekend, China released a blueprint of its National Security Law, the law that re-sparked a series of protests in Hong Kong last month.<\/p>\n Critics say the law threatens political and civil freedoms in Hong Kong and broadens Beijing’s direct control on the city.<\/p>\n According to the blueprint, Beijing would be able to override Hong Kong’s prized independent legal system and mainland officials will establish a national security office in Hong Kong, further eroding the city’s autonomy.<\/p>\n The draft is being reviewed by China’s top legislature.<\/p>\n And while Hong Kong courts will preside over national security criminal cases, mainland Chinese security organs will have the power to “exercise jurisdiction” that threatens national security over special circumstances.<\/p>\n The proposed legislation has been criticized by opposition lawmakers in Hong Kong, human rights groups and politicians worldwide.<\/p>\n If passed, China will have a significant power hold over Hong Kong in matters of the law.<\/p>\n The rising power of TikTok.Hundreds of teenage TikTok users and K-pop fans say they\u2019re at least partially responsible for President Trump’s underwhelming rally in Tulsa, Oklahoma.<\/p>\n Apparently, the campaign had fielded more than a million ticket requests, but reporters at the event noted the attendance was much lower than expected.<\/p>\n TikTok users and K-Pop fans claimed to have registered potentially hundreds of thousands of tickets for Mr. Trump\u2019s campaign rally as a prank. Thousands of other users posted similar tweets and videos to TikTok that racked up millions of views.<\/p>\n \u201cIt spread mostly through Alt TikTok, we kept it on the quiet side where people do pranks and a lot of activism,\u201d said YouTuber Elijah Daniel.<\/p>\n \u201cTrump has been actively trying to disenfranchise millions of Americans in so many ways, and to me, this was the protest I was able to perform,\u201d said 18 year old Erin Hoffman to the New York Times.<\/p>\n We can imagine Trump is furious with Chinese owned TikTok now, the next possible target after Twitter.<\/p>\n","protected":false},"excerpt":{"rendered":" All you need to know today 1. Wirecard is missing $2 billion, CEO resigns Long story short, the German fintech giant is up to something. The company is reportedly missing $2 billion. The payments processor said that it couldn\u2019t publish its financials for 2019, as auditors at EY couldn\u2019t account for the $2 billion on […]<\/p>\n","protected":false},"author":2,"featured_media":633,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[89,55,56,124,120,122,121,115,92,119,123],"yoast_head":"\n1. Wirecard is missing $2 billion, CEO resigns<\/h4>\n
2. Facebook buys mapping app, Mapillary<\/h4>\n
3. Details of China’s Security Law for Hong Kong released<\/h4>\n
4. Trump’s Tulsa rally was pranked by TikTok<\/h4>\n