The game of basketball hasn’t fielded this much controversy since your family reunion pickup game got you banned from the YMCA.

Two massive gambling busts are ripping through the NBA just as its regular season begins this week: The FBI arrested Miami Heat guard Terry Rozier, former player and coach Damon Jones, and Portland Trail Blazers Head Coach Chauncey Billups yesterday for allegedly participating in two illegal gambling operations.

First, the insider trading allegations…prosecutors allege that Rozier and Jones provided nonpublic information like players’ injuries to individuals who would then place prop bets on games:

• In one instance, Rozier and a co-conspirator allegedly split hundreds of thousands of dollars from a bet the individual made after Rozier told them he would leave the game early because of an injury:
• The indictment also accuses Jones of leaking the injury status of LeBron James before a February 2023 game.
• Federal officials claim that bets were placed on the Charlotte Hornets, Portland Trail Blazers, Los Angeles Lakers, and the Toronto Raptors, which an official mistakenly referred to as the “Toronto Rangers” in a press conference.

But the wildest allegations come from the second case. Prosecutors say a mafia-linked illegal poker game got Billups and Jones to act as celebrity players to attract victims to be swindled out of their money. The games were rigged with table X-ray machines, secret cameras in card trays, and a card shuffler machine that fed info to someone behind the scenes. Players in the scheme also allegedly wore contact lenses and glasses that enabled them to read pre-marked cards.

Not a great look as the NBA cozies up to gambling companies. More than 30 people were arrested in 11 states yesterday, and FBI Director Kash Patel said tens of millions of dollars were stolen over the course of the scams. The NBA, which has partnerships with betting companies like FanDuel and DraftKings, said in a statement that Rozier and Billups were placed on immediate leave from the league. Rozier’s lawyers said he would fight the charges and that the FBI publicly arrested him for a “photo op.” Jones and Billups have yet to release statements.—MM

Trump pardoned Binance founder CZ. Changpeng Zhao, the Chinese-born billionaire crypto founder who was convicted in 2023 of money-laundering violations, was granted clemency by President Trump this week, the White House said. Zhao, who goes by CZ, served four months in prison last year after admitting that Binance allowed terrorist groups, including ISIS and Al Qaeda, and child sex abusers to move money on the crypto exchange. After being released from prison, CZ hired lawyers and lobbyists close to Trump to seek a pardon. Per the Wall Street Journal, Binance has been a major supporter of the Trump family’s World Liberty Financial crypto enterprise, which “has driven a huge leap in the president’s personal wealth.” The pardon could allow Binance to return to the US, with CZ as CEO.

European defense giants are joining forces to take on Elon Musk in space. Airbus, Leonardo, and Thales are combining their space businesses into a single company in a move that could create a European alternative to Musk’s SpaceX. Airbus will be the majority owner with a 35% stake, the companies said, and the joint venture will employ 25,000 people across Europe. French President Emmanuel Macron and others have championed the idea of a European satellite competitor that could be a substitute for SpaceX’s Starlink system. One expert told CNBC that it’s “the first tangible evidence of Europe addressing its waning technological sovereignty.”

Apple reportedly cutting iPhone Air production due to low demand. The iPhone Air could be on its way to “RIP 2025–2025” meme status. Apple is telling supply partners to slash production of the skinny iPhone after it posted weak sales in its first few weeks on the market, Nikkei Asia reported. The other models in the new iPhone 17 lineup are reportedly selling well, and Apple plans to maintain its current production estimates. The Air has been criticized by techies for its relatively low battery life and single camera, though some have applauded its light weight. Experts say it could serve as the forerunner to the oft-rumored foldable iPhone.—AE

Quantum computing companies’ stocks are surging on a report that Uncle Sam might become a shareholder.

Markets opened yesterday to a Wall Street Journal report that the Trump administration is negotiating with several quantum computing companies about taking a potential stake in exchange for at least $10 million each in funding from the Biden-era CHIPS Act.

Though the Commerce Department told several outlets it was merely considering loans rather than taxpayer-funded stakes (like those recently taken in Intel and rare earths miner MP Materials), shares of several quantum companies still popped yesterday. IonQ closed up 7%, D-Wave soared ~14%, Quantum Computing rose 7%, and Rigetti Computing gained ~10%.

Not your glitchy laptop

Computers harnessing the principles of quantum mechanics are orders of magnitude more powerful than their mightiest classical counterparts, which makes them promising for expedited drug development or turbocharged cybersecurity.

While no commercially viable applications exist yet:

• There have been several recent breakthroughs in research. This week, Google published a paper describing a quantum computer that solves problems 13,000x faster than a traditional computer.
• McKinsey projects that the industry’s revenue and funding could grow from $4 billion in 2024 to $37 billion by 2030.

The US is in a race with China…which is estimated to have allocated $15 billion to fund quantum computing R&D so far.—SK

The world’s biggest footwear company teased new products yesterday that will probably appeal more to Oura ring enthusiasts than AF1 lovers—which is the whole point. Nike is throwing a bunch of sci-fi at the wall in an attempt to defibrillate its lagging revenue by re-centering fitness over lifestyle.

Their upcoming hi-tech releases include:

E-bike for your feet. The buzziest prototype that Nike unveiled is a bionic-looking sneaker with a detachable, mechanized arm that’s designed to lightly propel each step. It’s intended for middle-of-the-road athletes—i.e., 10-to 12-minute milers—and anyone else who wants to run or walk more comfortably. They won’t hit shelves until at least 2028.

“Neuroscience-based” shoes. With pre- and postgame in mind, Nike is dropping a sneaker and a slipper in January that have 22 foam nubs on the soles. The company claims they’ll stimulate the feet and brain.

Heat-focused fits. Team USA is set to debut Air Milano, an inflatable jacket, at the 2026 Winter Olympics in Italy. Next summer, Nike-federated FIFA World Cup teams will compete in new kits that Nike says are 100% recycled and extra sweat-wicking.

Zoom out: With Nike’s new leadership intent on reigniting stalled innovation, the company’s current internal slogan is reportedly “Create Epic Shit, Make Athletes Better.” Its stock is down ~5% so far this year after dropping nearly 30% in 2024.—ML

If you ever get caught looking at OnlyFans at work, just say you’re doing research for a white paper on the creator economy. Keily Blair, the CEO of the predominantly pornographic platform, told Bloomberg that the company has paid out $25 billion to its creators since its founding in 2016:

• As of last year, the platform had 4.6 million creators and 377.5 million users.
• OnlyFans takes a 20% cut of all subscriptions and content sold.
• It’s been exploring a sale at an $8 billion valuation, Bloomberg reported.

In recent years, the company has tried to appeal to new users by expanding into comedy, sports, and cooking. Blair said that OnlyFans is not simply adult content, but rather, in a critical distinction, “content for adults.”—AE

The feeling of getting a 5/5 on the Brew’s Weekly News Quiz has been compared to vacuuming that clump of dust that’s been sitting in the corner of the room for eight months.

It’s that satisfying. Ace the quiz.