Tech News (07/09/2025)
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Tech News (07/09/2025)
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Musk noted. In the same announcement, Musk added that the first Tesla vehicle capable of driving itself from the Gigafactory Texas directly to a customer’s home could be ready by June 28. Tesla has operated out of Austin since 2021, with its Texas manufacturing hub opening in 2022.
Geofenced Launch and Expansion Plans.
During a May interview with CNBC, Musk explained that the initial fleet of autonomous vehicles will be geofenced to operate only in the safest zones of Austin and will be remotely monitored. He also shared plans to expand the service to other major cities, including Los Angeles, San Antonio, and San Francisco.
Investor Reaction and Stock Performance.
Despite the announcement, Tesla’s stock saw minimal movement. On June 11, shares traded at approximately $324, slightly down from the previous day’s close of $326. The stock had previously peaked at $491 in December 2024 but dipped following Musk’s brief involvement with the Trump administration. Still, it remains well above its November 5 price of $251.
Competition in AI Transportation.
Tesla enters a competitive AI transportation landscape. Alphabet’s Waymo already operates autonomous ride-hailing services in Austin, Los Angeles, Phoenix, and San Francisco, with testing underway in Atlanta and Miami. Other players like Amazon-backed Zoox and Toyota-supported May Mobility are also scaling up their self-driving efforts. Safety and Regulatory Challenges. While Musk envisions over a million Teslas with full self-driving capability on U.S. roads by the end of next year, federal regulators have raised questions about safety in adverse conditions like fog and glare. Currently, there are no national standards for fully autonomous vehicles without traditional controls like steering wheels or pedals. “Passengers won’t need to pay attention to the road,” Musk said. “It’ll be like falling asleep and waking up at your destination.”
In Other news, last May of this year, Coinbase confirmed a major data breach affecting up to 97,000 users, stemming from insider collusion with overseas contractors. Hackers accessed sensitive personal information—including names, addresses, partial Social Security numbers, and government ID images—but did not compromise login credentials, private keys, or customer funds. The attackers attempted to extort $20 million from Coinbase, which the company refused, opting instead to cooperate with law enforcement and offer voluntary reimbursements to affected users.
To bolster defenses, Coinbase announced the creation of a new U.S.-based support hub and launched a $20 million reward fund for information leading to the hackers’ arrest. The company also warned customers to remain vigilant against impersonation scams, reiterating that it will never request passwords, 2FA codes, or wallet transfers via calls or texts. The breach triggered a 7.2% drop in Coinbase stock and intensified scrutiny around centralized exchange vulnerabilities.
The incident occurred amid a surge in crypto theft, with blockchain security firm CertiK reporting $1.67 billion in losses during Q1 2025 alone—a 300% increase from the previous quarter. A single event, the Bybit hack, accounted for $1.45 billion of those losses. The breach, traced to North Korea’s Lazarus Group, exploited infrastructure during a routine transfer, despite multiple security checks. The fallout from Bybit’s breach has rattled the crypto industry, prompting regulators and analysts to call for stronger safeguards at centralized exchanges. As threats grow more sophisticated, platforms like Coinbase and Bybit face mounting pressure to reinforce internal systems and prevent future exploits
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.