Elon Musk announced on the X platform that the AI model Grok from xAI will be launched to X Premium+ users with the latest application version.
Elon Musk's company, formerly known as Twitter and now called X, has been granted three additional money transmitter licenses in South Dakota, Kansas, and Wyoming, bringing the total number of states where the company is allowed to engage in money transfers to twelve. The company plans to turn X into an "everything app" that includes its own payments system, putting it in competition with PayPal. Musk has previously spoken about his plans to morph X into a payments platform, where users can send money to others on the platform, extract their funds to authenticated bank accounts, and perhaps later, a high-yield money market account. However, X's ability to monetize via ads has taken a downturn in recent days due to an advertiser exodus prompted by Musk's endorsement of an antisemitic post on the platform.
US Securities and Exchange Commission (SEC) submitted a document to the San Francisco Federal Court on Thursday stating that Elon Musk should testify in its investigation into his $44 billion acquisition of social media giant Twitter (now called X). Last month, the SEC stated that it was investigating Musk's purchase of Twitter stock in 2022 and his statements related to the acquisition. The SEC stated that Musk refused to participate in the September interview, and in its latest filing, the agency said that it has the legal right to seek testimony and documents during its investigation.
Elon Musk, owner of the X app, has questioned why the Wikimedia Foundation is soliciting donations, stating that Wikipedia does not require so much funding to operate. Musk has asked the nonprofit organization to explain to its readers what the money is meant for. Despite his controversial nature, founder of Wikipedia, Jimmy Wales, has made it clear that the company is not for sale and Musk's comments have not affected its operations. The Wikimedia Foundation claims to have raised $165.2m in fiscal year 2022 from over 13 million donations.
Social app X, formerly known as Twitter, has started charging new users $1 in an attempt to reduce spam, manipulation and bot activity. However, previous attempts to charge users have not been successful in preventing phishing scams by verified accounts on the platform. Crypto-focused bot armies and scammers extensively use X's premium service, which costs $8 a month and rewards a blue tick to users. Market observers believe that other measures, such as enhancing reporting measures and using blockchain, may be more effective in mitigating the bot problem.
Elon Musk's social media platform, X, has launched a new subscription program called 'Not A Bot', requiring new users in New Zealand and the Philippines to pay a $1 annual fee to post content and interact with other users. The aim of the program is to combat spam and bot activity, and while existing users will remain unaffected, the move marks a shift from the traditional model of free social media access.
Elon Musk, the CEO of Tesla and SpaceX, recently took to Twitter to express his view that fiat currencies are an outright "scam." This is not the first time Musk has voiced skepticism about fiat, as he has previously stated his support for cryptocurrency. Musk's own social media platform, X, plans to enable money transfers in fiat currency before potentially expanding into crypto transactions. Unlike fiat, Bitcoin has a limited supply and is decentralized, providing independence from government overreach and inflationary policies.
Elon Musk has denied rumors that his social media platform X (previously known as Twitter) will introduce an "X coin" to reward creators. A post from an X account called "X News Daily" suggested that the platform may be considering launching a coin for creators, but Musk responded with a simple "no." <br>
Twitter, under the name X, has been granted a currency transmitter license by regulators in Rhode Island. This license is necessary for companies involved in financial activities related to sending and receiving money, including both fiat and crypto assets. The approval allows X to custody, transfer, and exchange digital currencies.
Elon Musk, CEO of Tesla, praised Vitalik Buterin's analysis of Community Notes on Twitter. Buterin, co-founder of Ethereum, had written a blog post dissecting the concept of Community Notes, which seeks to provide a more democratic and community-driven system for discussing contentious topics on platforms like Twitter. <br>