Good morning tech fam, here are some quick tech updates for you to catch on to!
What's New Today: The metaverse means nothing to Britons. However, that actually presents a tremendous opportunity for start-ups and businesses.
Fast-Track Insights: As the FTX cryptocurrency exchange collapses, lawmakers are questioning San Diego's Silvergate Capital.
Elon Musk becomes upset as a NASA astronaut calls out his transphobia and conspiracy theories after Musk tweeted something offensive, and Kelly intervened. An abhorrent combination of transphobia and COVID denial! And who better than fellow Space Dude and Outspoken Guy Scott Kelly to call Musk out on his really disgusting behaviour and the billionaire said, "I strongly disagree." "It is neither good nor kind to anyone to force your pronouns upon others when they haven't asked, and to tacitly exclude those who don't." Musk went on to say.
The metaverse is undoubtedly seen negatively, although it seems that this is largely due to confusion. Surprising no one, it turns out that, compared to the rest of the globe, the UK doesn't really care about the metaverse. However, this apathy really presents a chance for start-ups and businesses. But first, the information. According to research from the law firm Gowling WLG, 10% of UK customers have no interest in the metaverse, and 20% don't think it will catch on. In addition, many people worry about its drawbacks.
In 2023, the EU will provide funding to digital firms totalling €1.13 billion. Scientists and innovators who can scale up ground-breaking inventions and develop new markets will receive €1.6 billion in financing under the European Innovation Council's (EIC) recently approved 2023 work programme. Notably, this sum (€1.13 billion) has been set aside 70% for the EIC Accelerator, which helps entrepreneurs and SMEs create and market high-impact inventions.
Binance Holdings Ltd., a digital asset exchange, announced on Tuesday that it has "temporarily stopped" withdrawals of the significant stablecoin USDC. On Twitter, Changpeng Zhao, the CEO of Binance, stated: "On USDC, we have witnessed a spike in withdrawals." Further, according to the CEO of Binance, exchanging USDC Coin for Paxos Standard and Binance USD necessitates utilising conventional currency at a bank in New York.
As the FTX cryptocurrency exchange collapses, lawmakers are questioning San Diego's Silvergate Capital. It established itself as one of the few conventional banks offering deposits, fund transfers, security, and other services for the cryptocurrency trading sector in recent years. The little financial institution's shares have plummeted, and politicians have focused their attention on it because of two high-profile crypto-exchange bankruptcy, one of which is suspected to have involved fraud.
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