Happy Friday to you, Austin. Hope your Christmas prep is all done and you are ready to enjoy the holiday.
As we close out the week, here’s a look at some of the tech-related stories making headlines around the Internet this morning:
Suddenly, some bumps in the road for Bitcoin
A bitcoin sell-off that began at the beginning of the week is gaining momentum, with a quarter of its value evaporating in just the past 24 hours.
Shortly before U.S. markets opened Friday, bitcoin was trading at $13,659.85, according to the tracking site CoinDesk. The cost had soared to nearly $20,000 as of Sunday.
That is a radical price change in just one month. In mid-November, the bitcoin was trading at less than $6,000.
The cryptocurrency has been notoriously volatile, with a significant crash every quarter. Yet this week has been a particularly unstable, and could be biggest sell-off for bitcoin in years.
Changes at the top for Alphabet
In case you missed it, Eric Schmidt said late Thursday that he is stepping down as executive chairman of Google parent company Alphabet.
Schmidt, who took over as CEO in 2001 three years after investors demanded more mature leadership for the fast-growing tech giant, said he will leave his current position in January. Schmidt said he will act as a technical adviser and will continue to sit on the company’s board.
A big deal in the mobile world
In a major mobile deal for Europe, T-Mobile says its Austria-based unit, Deutsche Telekom, will purchase cable operator UPC Austria in a deal that values the company at 1.9 billion euros ($2.3 billion.)
T-Mobile said Friday that buying UPC Austria, an indirect subsidiary of Liberty Global plc, will help it to mount a stronger challenge to current market leader A1 Telekom Austria.
It will allow the unit of Germany's Deutsche Telekom to offer a broader range of mobile, fixed-line, internet and TV services.
T-Mobile says it expects the deal, which still needs approval from antitrust authorities, to close in the second half of next year.
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