A roundup of cryptocurrency news from around the world this week!
✅ India explores the possibility of using CBDC for international payments
The Reserve Bank of India aims to enhance the potential of external trade without relying on dollar reserves. It is currently known that the RBI is in discussions with representatives from at least 18 countries about the possibility of conducting international payments using digital rupee.
Shaktikanta Das, the Governor of the Reserve Bank of India, stated, "Cross-border payments will become significantly faster, smoother, and highly efficient from an economic standpoint. This is another area that deserves great attention. We are constantly engaging with other central banks that have already implemented or are planning to implement CBDC."
✅ Twitter receives license for payments in 3 states
Twitter Payments LLC, a subsidiary of the media conglomerate, has obtained a license to facilitate payment transfers in three states. Approvals were granted in Michigan, New Hampshire, and Missouri. This brings the platform one step closer to realizing Elon Musk's global strategy of creating an "app for everything." In addition to payments, Musk also plans to introduce features such as calling, video chat, and a range of other innovations.
✅ Twitter prepares to sue Meta for using proprietary technologies
On July 6, Meta unveiled its Threads project, a new social network that has been dubbed a replacement for Twitter. However, Twitter swiftly accused Meta of industrial espionage and sent a letter to Meta's CEO, Mark Zuckerberg, regarding their intention to file a lawsuit against the company.
The letter stated that Meta deliberately hired and then engaged former Twitter employees to work on Threads. These individuals allegedly abused their positions to appropriate "electronic devices" and documentation containing internal information and developments. Elon Musk himself commented on the news on his Twitter page, saying, "Competition is great, but fraud is not."
✅ Justin Bieber loses over $1 million on NFTs
In January 2022, renowned Canadian singer Justin Bieber decided to invest his money in NFTs. He spent 500 ETH (equivalent to $1.3 million at the time) to acquire a single NFT from the popular Bored Ape Yacht Club collection. Shortly after, the value of the digital artwork plummeted to $59,000. Interestingly, Bieber was not the only one who suffered losses due to the high volatility in the NFT market. Other notable figures who experienced failed investments in BAYC include Neymar, Eminem, and even Madonna. However, for Bieber himself, these losses do not pose a significant problem. As of September 2021, his wealth was estimated at $285 million.
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