FutemaxApp: Breaking Tech News Delivered Straight to Your Screen https://futemaxapp.net Get the Hottest Tech Scoops and Stay Informed with FutemaxApp. Thu, 31 Aug 2023 18:08:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Elon Musk’s X Faces Lawsuit Alleging Age Bias in 2022 Layoffs; Judge Declines Dismissal https://futemaxapp.net/elon-musks-x-faces-lawsuit-alleging-age-bias-in-2022-layoffs-judge-declines-dismissal/ https://futemaxapp.net/elon-musks-x-faces-lawsuit-alleging-age-bias-in-2022-layoffs-judge-declines-dismissal/#respond Thu, 31 Aug 2023 18:08:34 +0000 https://futemaxapp.net/?p=867 In a recent development, a federal judge in California has declined to dismiss a lawsuit accusing the social media platform X (formerly known as Twitter) of disproportionately laying off older employees following Elon Musk’s acquisition of the company last year.

Elon Musk's X Faces Lawsuit Alleging Age Bias in 2022 Layoffs; Judge Declines Dismissal

US District Judge Susan Illston ruled on Tuesday that the plaintiff, John Zeman, had presented sufficient evidence to support his claim that the mass layoffs had a more significant impact on older workers. This allows Zeman to continue pursuing the proposed class action.

Zeman alleges that X laid off around 60 percent of workers aged 50 or above and nearly 75 percent of those over 60, in contrast to 54 percent of employees below 50.

Judge Illston’s ruling affirmed that federal law against workplace age bias permits plaintiffs to bring “disparate impact” claims in a class action, a matter that has generated varying interpretations within the legal sphere.

While dismissing a claim that X deliberately targeted older workers for layoffs, the judge granted Zeman a month to amend his lawsuit to further elaborate on this assertion.

Shannon Liss-Riordan, Zeman’s attorney, noted that “this decision affirms the arguments we are presenting, enabling the discrimination claims to move forward.”

X has not provided a comment in response to this development.

The lawsuit is one among several that X is currently facing due to Elon Musk’s decision to reduce Twitter’s workforce by around 50 percent, which commenced in November of the previous year.

These legal cases encompass a range of allegations, including claims that X laid off employees and contractors without complying with mandatory advance notice and that Musk compelled workers with disabilities to exit by rejecting remote work options and urging a more “hardcore” approach.

Additionally, at least two lawsuits contend that the company owes former employees a collective sum of at least $500 million in severance pay. Twitter has denied any wrongdoing in connection to these cases.

Shannon Liss-Riordan also represents roughly 2,000 former Twitter employees who have initiated similar legal proceedings against the company through arbitration channels.

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Microsoft Decides to Separate Teams from Office Product Amid EU Antitrust Concerns https://futemaxapp.net/microsoft-decides-to-separate-teams-from-office-product-amid-eu-antitrust-concerns/ https://futemaxapp.net/microsoft-decides-to-separate-teams-from-office-product-amid-eu-antitrust-concerns/#respond Thu, 31 Aug 2023 18:01:21 +0000 https://futemaxapp.net/?p=863 Microsoft has announced plans to decouple its chat and video application, Teams, from its Office suite, as well as enhance compatibility with rival products, in an effort to avert potential antitrust penalties from the European Union (EU).

Microsoft Decides to Separate Teams from Office Product Amid EU Antitrust Concerns

The move comes in response to an investigation initiated by the European Commission after a complaint filed by Slack, a workspace messaging app owned by Salesforce, in 2020.

Despite initial attempts to address concerns, Microsoft’s preliminary concessions were deemed insufficient. The EU competition authority refrained from providing further commentary on Microsoft’s announcement.

Teams was integrated into Office 365 in 2017 at no additional cost. It eventually supplanted Skype for Business and gained traction during the pandemic due to its video conferencing capabilities.

Nanna-Louise Linde, Microsoft’s Vice President for European Government Affairs, conveyed that the adjustments aim to tackle two primary EU concerns: the ability for customers to choose an Office suite without Teams at a reduced cost, and improved interoperability between competing communication and collaboration solutions alongside Microsoft 365 and Office 365 packages.

Commencing from October 1, the changes will be applicable in Europe and Switzerland. Office packages excluding Teams will be available at a reduced price, lowering the cost by EUR 2 per month or EUR 24 annually for core enterprise customers.

New enterprise clients will have the option to acquire Teams separately for EUR 5 monthly or EUR 60 yearly, while existing enterprise customers with a Teams-inclusive suite can decide whether to retain their current package or switch to a Teams-excluded version.

Enhanced resources will be introduced to assist customers and independent software vendors in migrating data from Teams to other products. Microsoft also intends to develop a methodology for hosting Office web applications within competing applications, similar to its approach with Teams.

For Microsoft, the stakes are considerable. The company incurred EUR 2.2 billion in EU antitrust fines during the prior decade for bundling products, prompting it to adopt a more cooperative stance with regulators in recent times.

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Leaked Design Renders Showcase Motorola Edge 40 Neo; Report Uncovers Specifications and Color Choices https://futemaxapp.net/leaked-design-renders-showcase-motorola-edge-40-neo-report-uncovers-specifications-and-color-choices/ https://futemaxapp.net/leaked-design-renders-showcase-motorola-edge-40-neo-report-uncovers-specifications-and-color-choices/#respond Thu, 31 Aug 2023 17:58:12 +0000 https://futemaxapp.net/?p=859 Motorola is reportedly preparing to expand its Edge 40 smartphone series by introducing a new member, potentially named the Motorola Edge 40 Neo. Recent speculations and leaks have pointed towards this addition.

Leaked Design Renders Showcase Motorola Edge 40 Neo; Report Uncovers Specifications and Color Choices

While awaiting an official announcement from the company, a recent report has disclosed 360-degree renders of the device, showcasing its color variations and key features. The leaked images reveal a potential dual-camera setup with an accompanying LED flash on the rear panel. Notably, the primary sensor is expected to boast 50 megapixels.

A comprehensive 360-degree video of the supposed Motorola Edge 40 Neo has been released by MySmartPrice. This video provides a thorough look at the design and color options of the phone.

The leaked renders indicate that the forthcoming handset could share design elements with the previously launched Edge 40. According to the leaked video, the Motorola Edge 40 Neo will house a dual-camera configuration on the back, highlighted by a 50-megapixel main sensor. Adjacent to the cameras, an LED flash is likely to be situated within a rectangular camera module.

The front of the device is anticipated to host a centrally positioned hole-punch cutout, accommodating a selfie camera at the upper part of the display. Furthermore, the Motorola Edge 40 Neo is projected to feature flat edges and minimal bezels. Physical controls, consisting of a volume rocker and power button, are visible on the right edge, while the left side appears unadorned.

The lower section of the phone is expected to house a USB Type-C port, a microphone, a SIM tray slot, and a speaker grille.

In addition to its design, the Motorola Edge 40 Neo is showcased in three distinctive color variants: Caneel Bay, Black Beauty, and Soothing Sea.

This upcoming smartphone will join the existing Motorola Edge 40 lineup, which presently includes the Motorola Edge 40 and the Edge 40 Pro. The initial Edge 40 model debuted earlier in the year, featuring a 6.50-inch touchscreen display with a 144Hz refresh rate.

Operating on Android 13 out of the box, the device is powered by a non-removable 4500mAh battery with 68W Turbo Charge fast charging support.

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Apple Set to Discontinue Chat Support for Users on X and YouTube: Report https://futemaxapp.net/apple-set-to-discontinue-chat-support-for-users-on-x-and-youtube-report/ https://futemaxapp.net/apple-set-to-discontinue-chat-support-for-users-on-x-and-youtube-report/#respond Thu, 31 Aug 2023 17:53:55 +0000 https://futemaxapp.net/?p=855 Apple is reportedly discontinuing its human assistance service for users on social media platforms X (formerly known as Twitter) and YouTube. This change, scheduled for October, is expected to halt the Apple chat-based support service on these platforms.

Apple Set to Discontinue Chat Support for Users on X and YouTube: Report

The Apple Support account on X will cease to provide human responses to support requests via direct messages. This adjustment will also extend to YouTube and the Apple Support Community online forum. Instead, users will receive automated messages guiding them to the help center for assistance. This development coincides with the upcoming iPhone 15 launch.

A recent report from MacRumors, based on an unnamed source, indicated that Apple plans to phase out social media support advisor positions on X, YouTube, and the Apple Support Community forum, starting October 1.

Consequently, users will no longer receive human-generated replies to their inquiries in the comment sections of these platforms. Instead, they will receive automated responses directing them to alternative avenues to engage with Apple’s customer support.

The report further mentioned that Apple is offering current chat support employees the opportunity to transition to phone-based support roles within the company. This transition is expected to affect numerous employees.

Additionally, the report highlighted that the company has imposed restrictions on employees shifting to other chat-based support roles unless they have valid medical reasons.

Furthermore, the report outlined Apple’s plan to provide training to employees undertaking the phone-based support roles, with the process anticipated to conclude by November. Apple introduced customer support on X (formerly Twitter) in 2016, sharing product usage tips and addressing user queries on the platform.

Meanwhile, Apple is gearing up to unveil its latest iPhone lineup, the iPhone 15 series, during its ‘Wonderlust’ event scheduled for September 12. The event is expected to showcase a range of products, including the iPhone 15 series, Apple Watch Series 9, and Apple Watch Ultra 2. Additionally, Apple is set to reveal launch dates for iOS 17 and watchOS 10. Enthusiasts can tune in to the live-streamed event on apple.com and the Apple TV app.

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JSW Group in Early Conversations for Technology License to Establish Electric Vehicle Production in India https://futemaxapp.net/jsw-group-in-early-conversations-for-technology-license-to-establish-electric-vehicle-production-in-india/ https://futemaxapp.net/jsw-group-in-early-conversations-for-technology-license-to-establish-electric-vehicle-production-in-india/#respond Thu, 31 Aug 2023 17:49:05 +0000 https://futemaxapp.net/?p=851 India’s diversified conglomerate JSW Group, known for its presence in sectors ranging from steel to energy, is reportedly engaged in preliminary discussions with Chinese automaker Leapmotor to potentially license technology for manufacturing electric vehicles (EVs) in India.

JSW Group in Early Conversations for Technology License to Establish Electric Vehicle Production in India

Sources familiar with the talks revealed that under the envisaged technology licensing agreement, JSW Group would leverage Leapmotor’s platform, which serves as the foundational structure for a vehicle, to produce EVs in India under its own brand. This marks JSW Group’s second endeavor to enter the burgeoning EV industry.

Sources indicate that JSW Group is likely to adopt a unified platform for the creation of at least three mid-sized sport-utility vehicles (SUVs), with engineering support from Leapmotor to tailor these vehicles for the Indian market. However, the timeline for initiating production remains undisclosed at this stage.

While JSW Group’s discussions with Leapmotor are ongoing, the company’s aspirations in the EV domain have also included talks regarding a potential stake acquisition in MG Motor India, a subsidiary of China’s SAIC Motor. However, progress on those negotiations is said to have slowed.

The Indian EV market, while modest at present, is witnessing rapid growth. Tata Motors holds a dominant position, with EV sales constituting less than 2 percent of total car sales in the previous fiscal year. Nonetheless, India’s government aims to escalate EV sales to comprise 30 percent of total car sales by 2030.

JSW Group’s intention to develop and sell EVs under its own brand underscores its focus on acquiring technology and expertise rather than merely investing in or forming partnerships with established carmakers. The conglomerate is reported to have held discussions with other Chinese automakers as well.

While neither JSW nor Leapmotor provided official comments, JSW’s Chairman, Sajjan Jindal, has expressed interest in venturing into the EV sector and has acknowledged discussions with MG Motor. This isn’t JSW Group’s first foray into EVs; it initially explored this domain in 2016.

In recent reports, JSW has also been linked to discussions with Chinese entities for technology, along with considerations to acquire Ford Motor Co’s defunct southern India plant.

Leapmotor, founded in 2015, holds a small share of China’s fragmented EV market. It has unveiled a new EV platform and aims to license it to other automakers. Collaborating with JSW Group would provide Leapmotor access to India’s market, a significant opportunity amidst challenges Chinese companies face in setting up manufacturing due to tighter foreign investment rules.

Tesla, another major player, is also exploring the Indian market and is in talks with the government about establishing a manufacturing facility for affordable EVs. The Indian government is working on a scheme to attract EV manufacturers through reduced import taxes in exchange for local manufacturing investment.

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Chinese Tech Titans Unveil Public Launch of ChatGPT-Inspired Chatbots: Baidu, ByteDance, and Beyond https://futemaxapp.net/chinese-tech-titans-unveil-public-launch-of-chatgpt-inspired-chatbots-baidu-bytedance-and-beyond/ https://futemaxapp.net/chinese-tech-titans-unveil-public-launch-of-chatgpt-inspired-chatbots-baidu-bytedance-and-beyond/#respond Thu, 31 Aug 2023 17:45:15 +0000 https://futemaxapp.net/?p=847 Five prominent Chinese technology companies, including Baidu and SenseTime Group, have officially launched their artificial intelligence (AI) chatbots to the public following government clearance. This move aligns with China’s strategic aim to expand the usage of AI products, as it competes with the United States in the AI realm.

Chinese Tech Titans Unveil Public Launch of ChatGPT-Inspired Chatbots: Baidu, ByteDance, and Beyond

Baidu, a prominent player in China’s online search domain, revealed that its chatbot, Ernie Bot, resembling ChatGPT, is now accessible to the public. Similarly, SenseTime’s chatbot, SenseChat, is also fully available for user engagement.

Three emerging AI startups, namely Baichuan Intelligent Technology, Zhipu AI, and MiniMax, have concurrently announced the public release of their chatbots.

Notably, Baidu and SenseTime’s shares experienced positive gains in Hong Kong trading, with increments of 2.1 percent and 2.3 percent respectively, amid a broader market that was slightly down by 0.55 percent.

Unlike other countries, China mandates that companies must undergo security assessments and obtain official clearance before launching mass-market AI products. With the technology being a focal point of competition with the United States, Chinese authorities have expedited their support for domestic AI development.

Reports from Chinese media indicate that a total of 11 firms have secured government approvals for their AI initiatives, including ByteDance (owner of TikTok) and Tencent Holdings. However, both companies have not yet responded to requests for comments regarding their AI plans.

Baidu’s CEO Robin Li emphasized the significance of releasing Ernie Bot to the broader public, highlighting the value of real-world human feedback to enhance the chatbot’s capabilities. Furthermore, Baidu plans to introduce a series of “AI-native apps.”

The race to be the first to market holds immense importance in China’s competitive internet industry. Notably, Baidu’s Ernie Bot swiftly climbed to the top position in the free app category on Apple’s App Store in China after the announcement.

Analysts perceive the approved companies as having an early mover advantage, enabling them to refine their products more efficiently than competitors. Kai Wang, an analyst at Morningstar, acknowledged this dynamic.

Amid these developments, ChatGPT developer OpenAI, backed by Microsoft, is projected to generate revenue exceeding $1 billion in the next 12 months, according to The Information.

The government’s anticipated approvals align with new interim regulations for public use of generative AI products that came into effect on August 15. These regulations expand the scope of AI product testing and marketing, signaling a substantial shift from the previous limited-scale public tests. Notably, products targeting businesses do not require prior government approval.

Shawn Yang, an analyst at Blue Lotus Capital Advisors, foresees that the government’s approval of AI products could lead to industry consolidation. He highlighted the potential for those with strong data and technological capabilities to drive the industry forward.

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In a Lunar Milestone, Chandrayaan-3’s Pragyan Rover Identifies Sulphur on Moon, ISRO Explores Hydrogen Clues https://futemaxapp.net/in-a-lunar-milestone-chandrayaan-3s-pragyan-rover-identifies-sulphur-on-moon-isro-explores-hydrogen-clues/ https://futemaxapp.net/in-a-lunar-milestone-chandrayaan-3s-pragyan-rover-identifies-sulphur-on-moon-isro-explores-hydrogen-clues/#respond Thu, 31 Aug 2023 09:32:50 +0000 https://futemaxapp.net/?p=843 ISRO reported on Tuesday that the Laser-Induced Breakdown Spectroscope (LIBS) instrument equipped on the ‘Pragyan’ rover of Chandrayaan-3 has definitively confirmed the presence of sulphur on the lunar surface near the south pole through groundbreaking in-situ measurements.

In a Lunar Milestone, Chandrayaan-3's Pragyan Rover Identifies Sulphur on Moon, ISRO Explores Hydrogen Clues

The instrument also identified elements such as aluminium, calcium, iron, chromium, titanium, manganese, silicon, and oxygen, aligning with expectations.

In its statement, the space agency explained that the LIBS technique involves analyzing material composition by subjecting it to intense laser pulses.

A high-energy laser pulse is directed at the material’s surface, creating a highly localized plasma. This plasma’s emitted light is captured, resolved spectrally, and then detected by devices like Charge Coupled Devices. The distinct wavelengths of light emitted by each element in a plasma state facilitate the determination of the material’s elemental composition.

ISRO revealed that initial analysis disclosed the presence of elements like Aluminium (Al), Sulphur (S), Calcium (Ca), Iron (Fe), Chromium (Cr), and Titanium (Ti) on the lunar surface.

Further measurements indicated the existence of manganese (Mn), silicon (Si), and oxygen (O). The agency also mentioned that ongoing investigations are exploring the presence of Hydrogen.

The LIBS instrument was developed at the Laboratory for Electro-Optics Systems at Peenya Industrial Estate in Bengaluru, where India’s first satellite was fabricated back in 1975.

On August 23, ISRO achieved a significant milestone as the Lander Module (LM) of Chandrayaan-3 successfully landed on the lunar surface. This accomplishment positioned India as the fourth nation to achieve a soft landing on the Moon and the first to reach the uncharted south pole of Earth’s satellite.

Prime Minister Narendra Modi announced the designation of the Chandrayaan-3 Vikram lander’s landing site as ‘Shiv Shakti Point,’ and the location where the Chandrayaan-2 lander experienced a crash landing in 2019 would be recognized as the “Tiranga Point” .

August 23 was declared ‘National Space Day’ to celebrate the day when the Chandrayaan-3 lander touched down on the lunar surface, as per Modi’s announcement.

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IT Minister Ashwini Vaishnaw: Dell, HP, Lenovo, and 29 Others Submit Applications to Produce Laptops in India https://futemaxapp.net/it-minister-ashwini-vaishnaw-dell-hp-lenovo-and-29-others-submit-applications-to-produce-laptops-in-india/ https://futemaxapp.net/it-minister-ashwini-vaishnaw-dell-hp-lenovo-and-29-others-submit-applications-to-produce-laptops-in-india/#respond Thu, 31 Aug 2023 09:28:41 +0000 https://futemaxapp.net/?p=839 Over 32 International Electronics Companies Apply for India’s Incentive Program to Boost Local Electronics Manufacturing

IT Minister Ashwini Vaishnaw: Dell, HP, Lenovo, and 29 Others Submit Applications to Produce Laptops in India

In a significant development, more than 32 international electronics companies have formally submitted applications for India’s incentive program, designed to bolster the domestic production of laptops, tablets, and servers. This move comes shortly after the Indian government unveiled restrictions on the import of laptops, marking a clear push towards enhancing domestic manufacturing capabilities.

Under the leadership of Prime Minister Narendra Modi, the Indian government is actively promoting the “Make in India” initiative, which seeks to boost the country’s indigenous manufacturing capacities. Many global corporations are either establishing their own production units or forming strategic partnerships with Indian companies to align with this initiative.

The surge in applications from electronics companies is in response to India’s $2 billion (approximately Rs. 16,500 crore) production-linked incentive (PLI) program, specifically focused on incentivizing the production of information technology hardware. The announcement was made in May, and the program falls under the jurisdiction of Information Technology Minister Ashwini Vaishnaw.

This recent development coincides with the Indian government’s move to introduce licensing requirements for the import of laptops, tablets, and personal computers. This decision is widely seen as an effort to stimulate local manufacturing and reduce dependency on imports.

Prominent global players such as Hewlett Packard Enterprise, Dell Technologies, Asus, Acer, and Lenovo have applied to be part of this significant initiative aimed at local production of laptops and associated products. Minister Vaishnaw confirmed these applications through a video feed from ANI news agency, in which Reuters holds a minority stake.

The PLI program for IT hardware is projected to attract an additional investment of Rs. 24.3 billion and is anticipated to generate approximately 75,000 direct employment opportunities, according to the minister’s statements.

In light of the new licensing requirements for laptop, tablet, and personal computer imports, India’s trade regulator has introduced a transitional period of approximately three months before the new licensing framework takes effect. This adjustment is seen as a response to concerns raised following the initial decision to implement the licensing requirement immediately.

The government issued a notification stating, “Import consignments can be cleared till October 31 without a license, and a government permit would be required for clearance of import from November 1.”

As India takes decisive steps to strengthen its local manufacturing landscape, the electronics industry is set to witness transformative changes in the near future.

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Snapdragon 8 Gen 3 Chip Speculated as Powerhouse for Samsung Galaxy S24 Ultra: In-Depth Overview https://futemaxapp.net/snapdragon-8-gen-3-chip-speculated-as-powerhouse-for-samsung-galaxy-s24-ultra-in-depth-overview/ https://futemaxapp.net/snapdragon-8-gen-3-chip-speculated-as-powerhouse-for-samsung-galaxy-s24-ultra-in-depth-overview/#respond Thu, 31 Aug 2023 09:15:56 +0000 https://futemaxapp.net/?p=834 Rumors point to Samsung’s plans of unveiling the next installment of its flagship Galaxy S series smartphones in 2024. Though official details are scant regarding the successor to the Galaxy S23 series, speculations have shed light on anticipated features and specifications for the upcoming Galaxy S24 lineup. A recent report has hinted at the possibility of the Galaxy S24 Ultra incorporating a Snapdragon chipset. Notably, prior information indicated that the Galaxy S24 series, including the Galaxy S24, Galaxy S24+, and Galaxy S24 Ultra, would sport the Exynos 2400 SoC, primarily in the European market.

Snapdragon 8 Gen 3 Chip Speculated as Powerhouse for Samsung Galaxy S24 Ultra: In-Depth Overview

A fresh leak from a Weibo user known as Instant Digital, translated from Chinese, proposes that the premium-tier Galaxy S24 Ultra will be universally equipped with the Snapdragon 8 Gen 3 SoC, while the other two models, the Galaxy S24 and Galaxy S24+, might carry the Exynos 2400 SoC in specific markets. This leak contradicts a prior report that stated the entire Galaxy S24 series, even the top-tier Galaxy S24 Ultra, would adopt the Exynos 2400 SoC for European markets.

According to this leak, the Exynos 2400 SoC will feature cores with clock speeds of 3.16GHz, 2.9GHz, 2.6GHz, and 1.95GHz for these phones. Additionally, details suggest that the Galaxy S24+ could boast a WQHD+ screen, boasting a resolution of 3120×1440 and a peak brightness of 2,500 nits.

On another note, leaks have also surfaced regarding the storage capacities of the Galaxy S24 Ultra. The information hints at potential built-in storage options of up to 2TB. The device might also be available in RAM and storage configurations of 12GB + 256GB and 8GB + 128GB.

Adding to the mix, a prior report indicated that the Galaxy S24+ might incorporate Snapdragon chips specifically for the US market. This speculation gained support when the device was spotted on the Geekbench website, seemingly equipped with Qualcomm’s yet-to-be-released Snapdragon 8 Gen 3 SoC.

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Currency Transmitter License Obtained by Elon Musk’s X, Signaling Possible Crypto Payment Adoption https://futemaxapp.net/currency-transmitter-license-obtained-by-elon-musks-x-signaling-possible-crypto-payment-adoption/ https://futemaxapp.net/currency-transmitter-license-obtained-by-elon-musks-x-signaling-possible-crypto-payment-adoption/#respond Thu, 31 Aug 2023 09:01:36 +0000 https://futemaxapp.net/?p=830 Elon Musk’s company, referred to as “X,” has successfully obtained a currency transmitter license in a US state, suggesting potential plans for the integration of cryptocurrency and fiat payment processing on the microblogging platform, formerly known as Twitter. This license empowers the company to facilitate the custody, transfer, and exchange of digital currencies. Elon Musk, who acquired X last year, envisions transforming it into a comprehensive “everything app.” The platform aims to encompass communication, content sharing, and potentially payment processing.

Currency Transmitter

As reported by CoinTelegraph, X has secured a currency transmitter license in the state of Rhode Island. This license is a mandatory regulatory requirement for companies involved in money transfers within the United States.

Initial indications suggest that the payment feature on X might initially be limited to transactions in traditional fiat currencies. However, as the platform undergoes further enhancements, it could potentially expand to enable the exchange and transfer of cryptocurrencies.

The announcement had a positive impact on the cryptocurrency market, with the sector’s total valuation experiencing an overnight increase of four percent, reaching a total value of $1.09 trillion (approximately Rs 90,07,269 crore), as reported by CoinMarketCap.

Interestingly, Elon Musk’s preferred alternative cryptocurrency, Dogecoin, also saw a price surge of over three percent following this news, reaching a trading value of $0.066 (about Rs. 5.42). Despite the development, Musk himself has not shared any related updates on the license acquisition.

Noteworthy is the fact that Rhode Island is not the sole US state granting this money transmitter license to X. In the same vein, states like Michigan, Missouri, and New Hampshire, among others, have previously approved the license for X. Rhode Island now becomes the seventh state to do so, as outlined by CoinTelegraph’s report.

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