Bitcoin doubled in value over the last three months — a run fueled by new interest from institutional investors like venture capital firms. In a watershed moment, the nine-year-old alternative currency crossed $10,000 in value. Here’s how this cryptocurrency phenomenon happened. [Theodore Schleifer / Recode]
Recode Daily: Bitcoin is having a watershed moment
Plus, Cyber Monday was the first $2 billion mobile shopping day, Ajit Pai scolds Cher — and, say, what’s the theme for the White House holiday decorations?
Photo by Dan Kitwood/Getty Images
In an early sign of momentum for a massive private stock sale, two of Uber’s largest shareholders — Benchmark and Menlo Ventures — agreed on Tuesday to sell some of their shares in Uber. Investors and early employees have 20 business days to decide whether they want to sell their ownership in the company at a $48 billion valuation, or instead wait for the company to go public in 2019. [Theodore Schleifer / Recode]
Cyber Monday wasn’t just the biggest online shopping day in U.S. history — it was also the first $2 billion mobile shopping day. Sales totaled $6.6 billion as around 81 million Americans shopped online on the Monday after Thanksgiving — compared with 66 million on Black Friday. Purchases made on smartphones accounted for about $1.4 billion of sales. [Jason Del Rey / Recode]
FCC Chairman Ajit Pai rebuked everyone from Twitter to Cher for opposing his efforts to repeal net neutrality rules. Pai’s move to roll back the Obama-era regulations has been criticized recently by Kumail Nanjiani, a star of HBO’s “Silicon Valley”; Mark Ruffalo, who played the Hulk in “The Avengers”; and even noted telecom expert and Twitter maven Cher; Pai had something to say to all of them. A vote is slated for December. [Tony Romm / Recode]
In its first formal legal response to the U.S. government, AT&T told a federal judge that its $85 billion proposed merger with Time Warner would not harm its rivals. AT&T further pledged that if the deal is allowed to go through, no CNN and TBS channels would go dark on pay TV services in future fee disputes. [Tony Romm / Recode]
New evidence has surfaced in the Alphabet versus Uber self-driving trade secrets case — which means another delay of the trial, which was to begin jury selection on Dec. 4. And Uber’s security practices have again come under fire — a former Uber employee claims that some of the company’s security officers used ephemeral messaging services to avoid creating a paper trail. [Johana Bhuiyan / Recode]
Top stories from Recode
Facebook is giving some publishers a “breaking” label for news posts
The announcement could come as soon as January’s Consumer Electronics Show.
Montana came in last place, with just 2 percent of the state’s AP high schools offering computer science.
Europe’s commissioner for competition explains why the world’s governments must fight “greed and fear” on the latest episode of Recode Decode.
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This article originally appeared on Recode.net.
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