Elon Musk's Take On Cryptocurrency

THE PROFITS💸

• Elon Musk’s Take On Cryptocurrency

• Robot Dogs

• A Settlement of $1.4 billion

• When Exactly Will TikTok Get Banned?

Read Time: 3.5 mins

THE BIG PROFITS💸
Elon Musk’s Take On Cryptocurrency
What Elon Thinks About the American Dollar and How Cryptocurrencies will Effect it.

Robot Dogs
LIG Group’s Stake in the U.S. based, Ghost Robotics.

A Settlement of $1.4 billion
A lawsuit filed in 2022.

When Exactly Will TikTok Get Banned?
TikTok’s Warning from the U.S.

Elon Musk

Elon Musk’s Take On Cryptocurrency

Elon Musk has recently expressed renewed interest in bitcoin, stating he sees "some merit" in it, while also showing support for dogecoin.

The bitcoin price has surged past its late 2021 peak, driven by Wall Street adoption and Donald Trump's favorable stance on crypto.

Musk's past actions, such as adding and then selling off Tesla's bitcoin, have significantly influenced the market, and Tesla still holds nearly 10,000 bitcoin.

Additionally, Musk is hinting at integrating crypto into his social media platform X, which could potentially revolutionize the market.

Robot Dogs

Robot Dogs

LIG Nex1, a South Korean defense company, acquired a 60% stake in U.S.-based Ghost Robotics for $240 million, valuing the robot maker at $400 million.

This investment, partly funded by Korea Investment Private Equity, aligns with the rising demand for unmanned and automated military technologies.

Ghost Robotics, known for its four-legged robots used in defense and disaster relief, operates globally in countries including the U.S., U.K., and South Korea.

The acquisition highlights the trend of South Korean firms, like Samsung and Hyundai, investing in robotics amid labor shortages and an aging population.

Facebook

A Settlement of $1.4 Billion

Meta, the parent company of Facebook, has agreed to a $1.4 billion settlement with Texas over allegations of using users' biometric data without consent, violating state laws.

The lawsuit, filed in early 2022, targeted Facebook’s "tag suggestions" feature, which used facial recognition software on uploaded photos without users' knowledge.

Texas Attorney General Ken Paxton emphasized the importance of holding tech giants accountable for privacy violations, marking this settlement as the largest from a single state lawsuit.

Meta expressed satisfaction with the resolution and indicated potential future investments in Texas, including data centers.

Tech Poll

TikTok

When Exactly Will TikTok Get Banned?

The U.S. may lock up TikTok and throw away the key on January 19, 2025, if it doesn't secure a US company to manage its data and prevent it from being accessed by China.

The ban could be delayed by up to 90 days if there is progress toward a sale, and if TikTok is sold before the deadline, the ban will be lifted.

Legal challenges from TikTok’s owner, ByteDance, and potential changes in the US administration could also affect the outcome.

The Biden administration's push for the ban is due to national security concerns over data privacy and potential Chinese government influence.

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