Hera are the top trending stories from the world of technology. News that we feel every tech enthusiast should keep a tab on.
1)
Tesla Dumps most of its Bitcoin holding
Elon Musk’s EV car manufacturing company Tesla has sold nearly 75% of its Bitcoin holding. This move seems to be the direct fallout of the recent heavy crash witnessed in the prices of all cryptos including Bitcoins. Apparently, Tesla made over $1Bn of investment in Bitcoin during last year, when the crypto was looking pretty solid. However, after dumping nearly 75% of its Bitcoin holding, Tesla’s total investment in Bitcoin has now dropped to merely $220 Mn. But Tesla has categorically stated that it is still holding on the Dogecoin, which is actually meme based crypto.
2)
Threatened by TikTok, Facebook makes Sweeping Changes to its app
Meta is all set to bring unprecedented changes to its Facebook app. Going forward, users will get to see more & more TikTok like videos on Facebook’s home page. On other hand, content posted by your families and friends will be now less visible on the home page. Most experts argue that Facebook is now trying to imitate TikTok. Notably, TikTok’s growing popularity is proving to be a huge bane for Facebook. Due to TikTok’s growing traction, Meta’s social media platform is witnessing sluggish growth in its active users. In fact, earlier this year Facebook had announced the first ever drop in its active users in its history.
3)
Joe Biden Tests positive for COVID-19
White House announced on Thursday that the U.S. President Joe Biden has been tested positive for COVID-19. Biden is currently showing only mild symptoms and has been put on medication. The U.S. president has been diagnosed with coronavirus despite getting fully vaccinated. Biden took the vaccine dose shortly after taking charge of the office. He took the first dose in September last year while taking the second dose in March this year. Biden will continue to remain in isolation in the White House until he fully recovers.
4)
Gautam Adani overtakes Bill Gates to become fourth Richest man
Indian business tycoon Gautam Adani has overtaken Microsoft co-founder Bill Gates to become the fourth wealthiest man in the world. According to Forbes, Adani’s total wealth currently stands at estimated $115 Bn, surpassing Bill Gates whose fortunes are currently estimated to be around $104 Bn. Since last one year Adani’s various businesses have been thriving and growing at a spectacular growth. And thanks to this spectacular growth, today this Gujarati businessman owns more wealth than many powerful businessmen and tycoons including Warren Buffet, Google Larry Page and China’s Jack Ma.
5)
Auto Giant Ford to lay off 8,000 employees
U.S car manufacturer Ford is all set to opt for lay-offs as part of its cost-cutting measure, according to the U.S. media reports. Ford is reportedly planning to cut 4,000 jobs in the coming weeks while the company is expected to trim another 4,000 jobs in the ensuing months. These lay-offs, as per reports, will not only help Ford in cutting down its expenses but also help in intensifying its focus on the electric vehicle space. Turns out, Ford has pretty big ambitions for the electric vehicle space where it competes with none other than Elon Musk’s company Tesla.