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Tesla is initiating a recall of nearly 700,000 vehicles due to a malfunction in the warning light associated with the tire pressure monitoring system.

As stated in a letter from the National Highway Traffic Safety Administration on Thursday, the recall affects specific models, including the 2024 Cybertruck, the 2017-2025 Model 3, and the 2020-2025 Model Y.

The concern lies in the tire pressure monitoring system’s warning light, which may not consistently illuminate between driving cycles, thereby failing to alert the driver to low tire pressure. Operating a vehicle with inadequately inflated tires heightens the risk of an accident.

Tesla, led by Elon Musk, has announced that it will offer a complimentary software update to rectify this issue.

Owner notification letters are scheduled to be dispatched on February 15, 2025. For further inquiries, Tesla customer service can be contacted at 1-877-798-3752. Additionally, individuals may reach out to the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 or visit their website at www.nhtsa.gov.

Throughout the year, Tesla has been addressing various recalls. The Cybertruck has now experienced its seventh recall this year, with the most recent one affecting approximately 2,400 vehicles.

In November 2023, Tesla began delivering the first batch of its innovative Cybertruck pickups to customers, a full two years later than initially planned.

In July, the company issued a recall for over 1.8 million vehicles due to a hood malfunction that could elevate the risk of an accident. Earlier, in February, Tesla recalled nearly 2.2 million vehicles in the United States because certain warning lights on the instrument panel were deemed too small.

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DuckChain collaborates with prominent cryptocurrency entities

DuckChain collaborates with prominent cryptocurrency entities to propel the next generation of decentralized applications and announces the Yellow Duck Mission hackathon. Notable investors such as dao5, Offchain Labs, Kenetic Capital, DWF Ventures, Oak Grove Ventures, Skyland Ventures, GeekCartel, Gate.io, and Presto have participated in a $5 million funding round for DuckChain, a layer-2 project within the TON ecosystem.

As DuckChain aims to enhance the scalability and functionality of the TON blockchain, this investment marks a significant milestone for the initiative. The funding will facilitate improvements in EVM compatibility, enabling it to attract new users from various blockchain communities, increase liquidity, and cultivate a diverse ecosystem for both DuckChain and the broader TON network.

It has announced strategic partnerships with prominent industry players such as Arbitrum, OKX Wallet, and OnePieceLab to enhance its presence in the blockchain sector. In collaboration, they are launching the Yellow Duck Mission hackathon, which aims to attract developers, creators, and innovators to design the next generation of decentralized applications within the ecosystem.

The hackathon, scheduled to run from December 15, 2024, to January 15, 2025, features a total prize pool of $1 million in DuckChain Tokens, with the objective of fostering innovative solutions across various domains, including DeFi protocols, AI-driven applications, and meme-centric platforms.

Participants will have access to various tracks, including Meme dApps, DeFi applications, Telegram-powered dApps, AI solutions, and infrastructure tools. The submission period will commence on December 15, 2024, and interested individuals can register through the DuckChain Hackathon Portal.

DuckChain serves as a layer-2 solution that is EVM-compatible and designed specifically for the TON blockchain. Developed with the support of TonScale Labs and Arbitrum, it aims to enhance scalability and liquidity. By bridging the TON network with the Ethereum Virtual Machine (EVM) and Bitcoin ecosystems, seeks to attract a diverse user base, addressing scalability challenges and enhancing interoperability.

With robust financial backing and strategic alliances, It is strategically positioned to make a substantial impact on the growth of the TON ecosystem by fostering decentralized solutions that are efficient, scalable, and inclusive.

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Party City, which has faced significant challenges since the onset of the COVID-19 pandemic

Party City has filed for Chapter 11 bankruptcy protection in the United States for the second time in two years, as it intends to cease its retail and wholesale operations. The retailer, established for over four decades and known for offering a wide range of party supplies, including themed decorations and holiday costumes, announced that all of its 700 stores across the nation will remain operational while it initiates a liquidation sale.

The company, along with certain subsidiaries, submitted its Chapter 11 filing to the U.S. Bankruptcy Court for the Southern District of Texas. In its court documents, Party City Holdco reported assets and liabilities estimated between $1 billion and $10 billion, with more than 10,000 creditors.

According to a statement from the Woodcliff Lake, New Jersey-based company, senior lenders will provide the necessary financial support to sustain operations throughout the winding-down process.

Retailers in distress frequently pursue bankruptcy protection during the holiday season to capitalize on potential cash flow from recent sales.

Party City, which operates both physical stores and an online platform, indicated that it plans to retain the majority of its 12,000 employees during the liquidation period to facilitate the wind-down process.

The company initially filed for Chapter 11 bankruptcy protection in January of the previous year. Later that year, it successfully implemented a plan to exit bankruptcy, which included the cancellation of approximately $1 billion in corporate debt.

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