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Mobility

Volvo withdraws EX90, ES90 lidar features, offers cash compensation to existing buyers

Volvo is halting development of lidar-based functions for its electric EX90 SUV and ES90 sedan and has begun compensating existing buyers. The vehicles have lidar hardware, but the related software features will not be released. Volvo has ended its partnership with supplier Luminar, a company spokesperson in Norway said. Compensation varies by country, including payments in Norway and cash-equivalent options in the United States, as well as refunds in Europe and Canada.

Crypto

Sam Altman\'s biometric authentication startup World raises $52.5 million from cryptocurrency sale

World, an online authentication startup co-founded by Sam Altman, raised $52.5 million by selling WLD tokens to strategic investors, with a 12-month lockup, TechCrunch reported. Investors cannot sell or trade WLD for a year. World said the condition reflects long-term investment in its growth and expanding utility. Proceeds will go to the Cayman Islands-based World Foundation. Pantera Capital led the purchase, with other firms participating.

Crypto

Grayscale moves to launch spot Worldcoin ETF, pending SEC and Nasdaq approval

Asset manager Grayscale has begun procedures to launch a spot exchange-traded fund based on the Worldcoin token, WLD. It filed a registration statement with the U.S. Securities and Exchange Commission for the Grayscale Worldcoin ETF, which would track a CoinDesk benchmark rate and list on Nasdaq under the symbol GWLD. The filing details custody and administration partners and flags regulatory risks, token volatility and ownership concentration.