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Congress urges firms to fight crypto fraud, Apple's privacy head departs, Army grounds helicopters

Notable business headlines include Congress urging firms to fight against crypto fraud, Apple’s Chief Privacy Officer leaving the tech giant, and the U.S. Army grounding its Chinook helicopters over several engine fires.

Video Transcript

- Let's get down to business here, look at some of the top headlines moving markets this morning. Congress amping up the pressure on federal agencies and exchanges to fight fraud. The House Committee on Oversight and Reform sending letters to a long list that includes the FTC, the CFTC, Treasury, SEC, Coinbase, Binance, and Kraken, all asking what measures are being put into place to prevent and fight fraud in crypto. The letters, they ask for documents that show that efforts are actually being made and what efforts are being used to counter crypto scams.

Also, Apple's chief privacy officer, Jane Horvath, is leaving the tech giant for a new position at a law firm. This is according to Bloomberg. The shift comes as Apple increasingly focuses on privacy, including several marketing campaigns and the rollout of major changes to how apps and advertisers identify and track users. Those moves causing a seismic shift, we should note, in advertising, with social media companies like Facebook and Snap attributing recent layoffs to, in part, Apple's changes.

And bird down-- the US Army grounding its heavy-lift Chinook helicopter fleet after several engine fires. The grounding focused on Boeing-made models with Honeywell engines according to "The Wall Street Journal." None of the incidents resulted in injuries or deaths with one of the fires occurring recently. A spokesperson for Honeywell told the "Journal" that certain components were not up to spec and that it was working closely with the Army to replace the parts.