| ZTE pays a $1 billion fine to avoid going out of business, Amazon unveils a new streaming device and Instagram is building its own video hub. All that and more in The Daily Crunch for June 7, 2018. 1. ZTE fined $1 billion U.S. Secretary of Commerce Wilbur Ross confirmed this morning that Chinese telecom giant ZTE has agreed to a $1 billion fine. In addition, the company will supposedly make personnel changes and work with a team of Americans who will monitor ZTE's compliance with the law. A deal with the Trump Administration would help ZTE avert a shutdown, after the company was found to have violated U.S. sanctions by selling technology to Iran and North Korea. Earlier this year, U.S. companies were banned from selling crucial components to ZTE. 
2. Amazon's Fire TV Cube is a set top box crossed with an Echo
The Cube differentiates itself by bridging the gap between Fire TV and Echo. Past set top offerings from Amazon have incorporated Alexa control, but this latest addition folds in the full smart speaker experience. 3. Instagram plans to launch Snapchat Discover-style video hub According to multiple sources, Instagram will offer a dedicated space featuring scripted shows, music videos and more in vertically oriented, full-screen, high-def 4K resolution. The company has been meeting with popular social media stars and content publishers to find out how their video channels elsewhere would work within its app. 4. Valve says removing controversial games from Steam is hard so it's not going to The company says it won't remove games from the store unless the content is actually illegal or, as they put it, "straight up trolling." 5. Lyft redesigns rider app to encourage shared rides Currently, 35 percent of Lyft rides are shared, but the company says its goal is to reach 50 percent shared rides by 2020. The app is also getting transit integration, so that riders can get public transit trip details from within Lyft. 6. Coinbase is acquiring a securities dealer in order to trade your startup tokens Specifically, it's acquiring securities dealer Keystone Capital, a California-based FINRA-registered broker-dealer that can operate as a registered investment adviser and run an alternative trading system. 7. Facebook is funding news programs from CNN, Fox News, Univision and others While these shows are being produced by outside media organizations, it's actually Facebook that's funding them. They'll get a dedicated section in Watch, the social network's initiative around original video content. | 
