Technology
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Technology
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Why Trump's antitrust agenda could spell trouble for Big Tech
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The Trump administration is moving forward with several Biden-era antitrust lawsuits, policies and positions, signaling a continued focus on aggressive antitrust enforcement that could spell trouble for Big Tech.
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© AP Photo/Julia Demaree Nikhinson, Pool
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Despite President Trump's seemingly close relationship with tech leaders in his second term, his administration doesn’t appear keen to let up on antitrust enforcement, which has increasingly taken aim at the industry’s biggest players in recent years.
“Overall, what we’re seeing is largely continuity between the Biden and Trump antitrust regimes,” said Nidhi Hegde, executive director at the American Economic Liberties Project, a non-profit that advocates for strong antitrust enforcement.
The Department of Justice (DOJ) indicated earlier this month it is still seeking a breakup of Google, even after Trump hinted that he might oppose such a move last fall.
While the then-presidential candidate suggested in October that a breakup was “dangerous” and could stand to benefit China, his DOJ largely maintained the Biden administration’s proposal, which would require Google to divest from its Chrome browser.
“The Trump DOJ affirming its commitment to the structural breakup of Google, structural remedies, it was a big signal that we are going to see in continuity from one administration to another,” Hegde told The Hill.
The Federal Trade Commission (FTC), which leads the administration’s antitrust policy alongside the DOJ, also said in February that it would continue to use the merger guidelines established in 2023 under former President Biden.
While FTC Chair Andrew Ferguson noted in a letter to agency staff last month that the guidelines are not “perfect,” he said they are largely a “restatement of prior iterations,” emphasizing the importance of stability.
“Stability across administrations of both parties has thus been the name of the game,” Ferguson said.
“I have been asked a number of times about the fate of the 2023 Guidelines now that I am Chairman," he added. "I think the clear lesson of history is that we should prize stability and disfavor wholesale.”
Read more in a full report at TheHill.com tomorrow morning.
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Welcome to The Hill’s Technology newsletter, we're Miranda Nazzaro and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley.
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How policy will be impacting the tech sector now and in the future:
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The Vancouver International Auto Show removed Tesla products a day before the slated event over safety concerns. “The Vancouver Auto Show’s primary concern is the safety of attendees, exhibitors, and staff,” said Eric Nicholl, executive director of the Vancouver Auto International Show, in a statement. “This decision will ensure all attendees can be solely focused on enjoying the many positive elements of …
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The White House on Wednesday condemned Democrats for not speaking out about attacks on Tesla dealerships and cars, doubling down on the Trump administration’s criticism over the recent targeting of Elon Musk’s company. “We certainly think it’s despicable the violence that is taking place against Tesla, the company, its employees, and also just Americans who have chosen to drive an electric vehicle,” White House …
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Attorney General Pam Bondi labeled the recent vandalism targeting Tesla dealerships and cars as “domestic terrorism” and added the Department of Justice (DOJ) has already charged “several” alleged perpetrators. Some could face up to five years in prison. “The swarm of violent attacks on Tesla property is nothing short of domestic terrorism. The Department of Justice has already charged several perpetrators with that in …
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Former Secretary of State Hillary Clinton told an audience in Berlin, Germany, on Tuesday the Trump administration “has thrown in its lot with the autocrats.” “Autocracy is on the march,” Clinton said, apparently at the World Forum on the Future of Democracy, Tech and Humankind. “And we now have a government in the United States that has thrown in its lot with the autocrats, which has made a choice to support those …
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News we've flagged from the intersection of tech and other topics:
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Boeing's Starliner spacecraft may have to fly third uncrewed mission (Reuters)
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Oracle meets with top Capitol Hill aides as software firm emerges as top contender for TikTok deal (The New York Times)
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© Photo by Silas Stein/picture alliance via Getty Images
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Ripple CEO Brad Garlinghouse said Wednesday that the Securities and Exchange Commission (SEC) plans to drop its appeal against his crypto firm.
"The Gensler SEC was really trying to bully and continue lawfare, filing lawsuits and lawsuits and lawsuits, against crypto companies," Garlinghouse said in an interview with Bloomberg, referring to former SEC Chair Gary Gensler.
"That's over now, and I think that's great for the U.S. crypto industry and frankly crypto at large," he continued.
The SEC initially sued Garlinghouse and his crypto platform in 2020, alleging various securities violations.
A federal judge ruled partially in Ripple's favor in 2023, finding its XRP token was not itself a security and that several transactions involving XRP did not violate securities law.
However, U.S. District Judge Analisa Torres also found that Ripple's sales to institutional buyers constituted unregistered securities, and the crypto firm was later ordered to pay $125 million.
Both Ripple and the SEC appealed the decision. While the agency appears set to drop its appeal, it's unclear whether the crypto firm will follow suit.
"We now are in the driver's seat to determine how we want to proceed," Garlinghouse said.
When asked if Ripple will drop the appeal, he said, "We're going to see. It feels a lot better to be on the offense than the defense."
The SEC's apparent decision to drop the Ripple appeal comes amid a larger realignment at the agency on crypto.
Under President Trump, the SEC has closed several investigations and cases into other crypto firms, including Coinbase, Robinhood, Uniswap Labs and Consensys.
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Crypto Corner is a daily feature in The Hill's tech newsletter focused on digital currency and its outlook in Washington. Have a tip? Email us.
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Branch out with other reads on The Hill:
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FBI warns of possible Outlook, Gmail cyberattacks
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The FBI is warning users of popular email services such as Outlook and Gmail that they could be subject to cyberattacks by ransomware called Medusa, which has impacted more than 300 victims from a number of sectors, including technology, legal, medical and manufacturing. Medusa, a ransomware-as-a-service that was first identified in June, was spotted as recently last month, according to an advisory released last week …
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Two key stories on The Hill right now:
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A federal judge on Wednesday declined to temporarily block the Department of Government Efficiency’s (DOGE) takeover of the U.S. Institute of Peace … Read more
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President Trump has put his foot firmly back on the gas of getting revenge against his political enemies and those who don’t comply with his wishes. … Read more
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Opinion related to tech submitted to The Hill:
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You're all caught up. See you tomorrow!
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