AdvertisementBusinessUnited States Federal Communications Commission logo and U.S. flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration24 Jun 2026 02:47AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST June 23 : The U.S. Federal Communications Commission said Thursday an auction of wireless mid-band spectrum raised more than $3.5 billion, which will largely be used to fund the replacement of Chinese telecom equipment.The FCC said up to $3.3 billion of the auction’s proceeds will be used to cover funds borrowed to support the FCC’s "Rip and Replace” program to purge Huawei and other Chinese gear from their wireless networks and other programs.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST