Cryptocurrency News Updates

The court overseeing the proceedings authorized the sales of Embed and other FTX assets after the company filed for bankruptcy. But the highest bidder for the platform only made a $1 million offer. The lawyers noted in the filing that, “Embed’s vaunted software platform was essentially worthless,” hence the FTX lawsuit against Sam Bankman-Fried. Money is just information: Musk With several problems plaguing the traditional financial landscape, a new system with tailor-made specifics may elevate convenience for consumers. Musk also stressed that it doesn’t make sense to unnecessarily disrupt things. “If there’s a better product, that’s great,” he said. However, the need of the hour is to create a much more well-equipped system. Elaborating on the same, he said that to fill that real-time, it’s possible to have an even more efficient, homogenous real-time data system. Musk went on to exclaim that “money is just information.” He added, “That’s the only thing that’d be poetic to fulfill automatically the vision that I have for X.” For context, Elon Musk intends to convert Twitter into an “everything app” called X. Alongside, it is worth noting that the platform has already started applying for regulatory licenses to enter into the U.S. payments business. As reported by Watcher Guru, Twitter is designing the software to eventually introduce payments throughout the platform. In fact, Esther Crawford, a high-ranking Twitter employee, has started to map out the architecture needed to facilitate payments on the platform, alongside a small team of employees.