Paxos Trust reaches $48.5 million settlement with New York related to Binance
The settlement calls for Paxos to pay a $26.5 million fine and spend $22 million to improve its compliance program and address deficiencies, New York financial services superintendent Adrienne Harris said.
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GM Plans to Resurrect Self-Driving Car Project With a Twist
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Lexus stepped up its game with the 2025 NX, and after a week behind the wheel of the 2025 NX 350 F Sport, I have some interesting thoughts… GM is bringing Cruise back to life after its dramatic end General Motors (GM) has begun reigniting its defunct self-driving Cruise business by approaching some of the subsidiary's former employees for recruitment. However, the automaker is said to be pivoting from Cruise's original mission of creating a robotaxi into manufacturing autonomous cars for personal use, Bloomberg reports. The Cruise revival would begin with GM developing a vehicle with hands-free, eyes-free driving with a human in the driver's seat. Next, Cruise would create a car capable of operating without a human behind the wheel. Former Tesla Autopilot chief Sterling Anderson, now GM's Executive Vice President of Global Product and Chief Product Officer, detailed Cruise's updated roadmap during a meeting on August 6, according to those familiar with the matter. GM confirmed with Bloomberg that it's using human-led vehicles equipped with lidar on public roads to gather data for its upcoming self-driving technology. GM spokesperson Chaiti Sen said: 'We're accelerating the development of autonomous driving technology capable of operating without active human oversight,' according to Bloomberg. The original rise and fall of GM's Cruise Technology entrepreneur Kyle Vogt started Cruise in 2013, and the company was acquired by GM in 2016 for $1 billion. Subsequently, Cruise received a $30 billion valuation in 2021 and collected over $7 billion in investments. In 2022, Cruise said that over the next few years, it would launch tens of thousands of its Origin self-driving pods that were essentially a lounge on wheels. This ambition came to a grinding halt when a series of collisions involving Cruise's autonomous Chevrolet Bolt test cars in San Francisco captured the public's attention and led to California revoking its testing permits in late 2023. The most notable collision occurred in October 2023 when a woman was struck by a human-led vehicle in a crosswalk and thrown in the path of a Cruise car. The Cruise model then ran the pedestrian over and dragged her over 20 feet as it attempted to pull over. Cruise later paid a $500,000 fine to the United States Attorney's Office for the Northern District of California after omitting reference to the event's secondary movement and dragging of a pedestrian in a National Highway Traffic Safety Administration (NHTSA) report. GM spent over $10 billion on Cruise after acquiring the company in 2016. While Cruise suspended its robotaxi operations in late 2023 after having its California permits revoked, it folded the division into its in-house work on advanced driver assistance systems (ADAS) like Super Cruise. In February, GM let around half of its Cruise staff go after it was reported that the subsidiary had nearly 2,300 employees at the end of 2024. Final thoughts The robotaxi business's increasingly competitive landscape and GM's previous losses in the niche have put Cruise on a different path in the self-driving race. While many manufacturers appear to be prioritizing partnerships with companies like Uber and Lyft to integrate their autonomous technology into the rideshare industry, GM is one of the few legacy automakers looking to make a serious push to achieve Level 5 autonomy in passenger vehicles. While the renewed initiative is in its early phases, it positions GM uniquely among its rivals. About the Author Cody Carlson View Profile
Auto Blog
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By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Lexus stepped up its game with the 2025 NX, and after a week behind the wheel of the 2025 NX 350 F Sport, I have some interesting thoughts… BMW sought to purchase Rolls-Royce as part of its expansion in the late 1990s. Widely considered the best M5 manual transmission model, the E39 M5 wasn't the most powerful, but it was the most engaging. Sony Honda Mobility's first electric vehicle, the Afeela 1, has entered pre-production at Honda's East Liberty Auto Plant in Ohio. Engineers at the facility are using this stage to fine-tune part fit, paint finish, and assembly precision ahead of full production, scheduled to begin in 2026. The move brings the tech-heavy sedan one step closer to market after more than two years of joint development between the two companies. What is the Sony Honda Mobility Afeela 1? Watch More From Concept To Factory Floor The Afeela 1 was first shown in concept form in 2023, promising an emphasis on connected technology, advanced driver assistance, and entertainment features powered by Sony's electronics expertise. The production car will be offered in two trims: Origin, starting around $89,900, and Signature, from about $102,900. Both use dual 180-kW motors for all-wheel drive, a 91-kWh battery, and target roughly 300 miles of range. Deliveries for the Signature are expected in mid-2026, with the Origin following in 2027. By providing your email address, you agree that it may be used pursuant to Arena Group's Privacy Policy. We may receive compensation. High-Tech Manufacturing Goals East Liberty, long known for building the Honda CR-V and Acura models, is integrating new assembly techniques to accommodate the sedan's unique design and sensor-laden body. Over 40 sensors, including LiDAR, will feed data to the car's driver-assist systems, while Sony's AI-based interface is designed to personalize the in-car experience. The company says pre-production allows its engineers to validate these systems in a real-world manufacturing environment before the first customer cars roll off the line. Reservations in California are already open for $200 deposits, as detailed in our earlier coverage of whether the Afeela 1 can compete with Tesla. Market Context And Challenges Honda's EV strategy has been under close scrutiny. With demand growth slowing and tariffs looming on some imported models, the automaker is re-evaluating parts of its electric rollout. Those considerations affect its U.S. plants as well, making the Afeela 1's success an important test case for the partnership's future. As noted in our recent report on how Honda is shifting gears on EVs, the company is trying to balance ambitious technology projects with shifting consumer demand and cost pressures. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Looking Ahead The Afeela 1 is positioned for the premium EV market, where established players and new entrants are vying for buyers who expect both cutting-edge tech and top-tier build quality. Pre-production in Ohio is the clearest sign yet that Sony Honda Mobility is confident in its manufacturing readiness, though the next year will determine if the project can meet its ambitious timelines and performance promises. About the Author Max Taylor View Profile
