X is sold, who is the buyer who gave Elon Musk Rs 28,23,43,71,00,00?

Elon Musk first bought Twitter, then changed its name to X and now sold X. But the question is who is the new owner of X who gave billions of rupees to Elon Musk for this deal. Let us tell you the name of the new buyer and also tell you what the company that has bought X does?

Elon Musk surprises the world with his decisions, this is his old habit. This time also he has taken a decision which surprised everyone, in fact Elon Musk has recently sold the microblogging platform X to his own company XAI. This deal has been done for 33 billion dollars (about Rs 28,23,43,71,00,00), note that this is a stock deal.

What does Musk have to say on the deal?

Elon Musk recently shared a post on X in which he said that the future of X and XAI is interconnected. Today we are taking steps towards bringing together models, zeta, distribution, compute and talent. Regarding this deal, Elon Musk says that the vast reach of X and the advanced AI capabilities of xAI, together, will open the doors to immense possibilities.

Putting forth his point, Elon Musk said, our goal is to discover the truth and increase knowledge. Along with this, we will work to provide more useful and better experiences to billions of people.

What is XAI buying X?

XAI is a US-based American public benefit corporation that works in the field of artificial intelligence. This company was started by Elon Musk himself in 2023, the headquarters of this company is located in San Francisco, California.

How much did Elon Musk buy Twitter for?

Tesla and SpaceX CEO Elon Musk bought Twitter in 2022 for $44 billion. After buying Twitter, he made many major changes to the platform and one of these major changes was regarding the name. Twitter was renamed to X, not only the name changed but Musk changed the policy on hate speech and user verification and misinformation.

ALERT – SBI Warns Customers to save their Bank Balance

SBI Warns Customers to Protect Their Finances

The State Bank of India (SBI) has issued a warning to its customers and the general public regarding misleading videos circulating on social media that falsely depict its senior officials. These videos incorrectly assert that the bank’s top management is endorsing investment schemes with unrealistic returns.

SBI has confirmed that neither the institution nor its officials are associated with these schemes. The bank urges everyone to exercise caution and avoid falling victim to these scams.

In a recent post on X (formerly Twitter), SBI issued a public notice alerting users about these deceptive videos, stating: “ALERT – PUBLIC CAUTION NOTICE.”

Understanding Deepfake Videos

Deepfake videos are convincingly realistic but fabricated clips created using artificial intelligence (AI) and advanced technologies.

These videos can manipulate or alter a person’s face or voice, making it appear as though they are saying or doing things they never actually did.

Often, deepfakes are used maliciously, including spreading misinformation, impersonating individuals, or orchestrating scams. Their realistic appearance makes it challenging to distinguish them from authentic content.

SBI’s Message on X

ALERT – PUBLIC CAUTION NOTICE: BE AWARE OF DEEPFAKE VIDEOS

The State Bank of India warns all customers and members of the public that Deepfake videos of its top management are being disseminated on social media, falsely claiming the launch or endorsement of certain investment schemes.

These videos attempt to lead individuals into investing their money in dubious schemes through the use of sophisticated technology.

Biggest Movers: DOGE Down 8% as Twitter Removes Logo

Dogecoin was once again in the red on Friday, as Twitter finally removed the doge icon as its logo. The meme coin raced to a four-month high earlier in the week, after the social media giant unexpectedly added a cartoon image of doge on its website. Overall, crypto markets were mostly lower, with xrp a notable exception.

Dogecoin (DOGE)

Dogecoin (DOGE) fell for a fourth consecutive session on Friday, as Twitter finally removed the doge icon as its logo.

DOGE/USD surged to a high of $0.1048 on Tuesday, however as sentiment shifted, the meme coin fell to a low of $0.08185 earlier today.

Bears appear to be pushing doge towards a long-term floor at $0.0780, with prices down by nearly 9% today.

Looking at the chart, the latest drop in price coincided with the 14-day relative strength index (RSI) falling below support at 55.00.

Currently, price strength is tracking at the 52.85 mark, with a lower floor at 50.00 a possible target for sellers.

Despite the recent downward trend, the 10-day (red) moving average continues to trend higher.

XRP

Despite the cryptocurrency market cap trading mostly lower on Friday, XRP, formerly ripple, was a notable exception.

Following a low of $0.4968 the day prior, XRP/USD moved to a peak at $0.5129 earlier today.

As a result of the move, bulls pushed the token away from a recent support point at the $0.4950 mark.

This comes as the RSI also moved away from a floor of its own at 59.00. It is currently tracking at 61.17.

Should this momentum continue into the Easter weekend, the next visible ceiling will be at the 65.00 mark.

If this point is reached, there is a good chance that XRP will be trading above $0.5200.

World’s Richest Person Elon Musk Bought Stake in Twitter

Elon Musk Buys 9.2% Stake Of Twitter: According to a report released on Monday, the world’s richest man and Tesla CEO Elon Musk has bought a 9.2 percent stake in micro-blogging site Twitter Inc. Under this, the billionaire businessman has bought about 74 lakh shares of the company.

Twitter India removes MD Manish Maheshwari

Twitter India has removed its MD Manish Maheshwari from the post. He has been sent to America as a senior director. He will oversee revenue, strategy and operations in new markets.

While Manish’s MD in India, Twitter was embroiled in many controversies. It is being told that Twitter’s Sales Head in India Kanika Mittal and Business Head Neha Sharma Katyal will lead Twitter India in place of Manish.

His tenure was in controversies

  • On June 25, Twitter blocked the account of Law Minister Ravi Shankar Prasad for an hour. Twitter cited the American Copyright Act as the reason behind this action.
  • The Government of India had stopped getting any kind of security regarding the content. After this, the sword of action under the sections of IPC hanged above Twitter.

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Karnataka High Court Grants Interim Relief to Twitter India Head

In a temporary relief to Twitter India’s Managing Director Manish Maheshwari, the High Court of Karnataka, on Thursday, restrained the Uttar Pradesh police from taking any coercive action against him till June 29 on a criminal case related to the Ghaziabad incident of uploading a video of an assault on an elderly Muslim man.

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Nigeria adopts Indian Koo app by banning Twitter

After banning the microblogging website Twitter in the country, the Nigerian government has given permission to start India’s ‘Koo’ app. Angered by the removal of a post by the President of Nigeria, the government has banned Twitter in the country indefinitely.

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Twitter needs to comply with the laws of the land

The Government strongly controverts the claims made by Twitter today in its press release. India has a glorious tradition of free speech and democratic practices dating back centuries. Protecting free speech in India is not the prerogative of only a private, for-profit, foreign entity like Twitter, but it is the commitment of the world’s largest democracy and its robust institutions.

Twitter’s statement is an attempt to dictate its terms to the world’s largest democracy. Through its actions and deliberate defiance, Twitter seeks to undermine India’s legal system. Furthermore, Twitter refuses to comply with those very regulations in the Intermediary Guidelines on the basis of which it is claiming a safe harbour protection from any criminal liability in India.

The larger question is, if Twitter is so committed then why did it not set up such a mechanism in India on its own? Twitter representatives in India routinely claim that they have no authority and that they and the people of India need to escalate everything to the Twitter Headquarter in the USA. The purported commitment of Twitter, to its Indian user base, thus not only sounds hollow but completely self-serving.

Twitter has a large user base in India, it earns significant revenue from its Indian operations but is also the most reluctant to appoint an India based grievance redressal officer and mechanism, chief compliance officer and nodal officer to whom its own users can complain, when they are subjected to offensive Tweets.

The Rules empower the ordinary users who become victims of defamation, morphed images, sexual abuse and the whole range of other abusive content in blatant violation of law, to seek redress.

These Rules were finalized after widest possible consultations including with representatives of social media platforms. The Ministry of Electronics and IT put the draft Rules in public domain and invited public comments. The Ministry received a large number of comments from individuals, civil society, industry associations and organizations. A significant number of counter comments to these comments were also received. There are also various judicial orders by various courts including the Supreme Court of India directing the Government to take appropriate steps. There are also several Parliamentary debates and recommendations to take appropriate measures.

Freedom of Speech and Expression is a Fundamental Right under the Indian Constitution. The Government of India respects the right of people to ask questions and also criticize on these social media platforms including on Twitter. The Government equally respects the right of privacy. However, the only instance  of scuttling free speech on Twitter is Twitter itself and its opaque policies, as a result of which people’s accounts are suspended and tweets deleted arbitrarily without recourse.

Twitter needs to stop beating around the bush and comply with the laws of the land. Law making and policy formulations is the sole prerogative of the sovereign and Twitter is just a social media platform and it has no locus in dictating what should India’s legal policy framework should be.

Twitter has claimed that it is committed to the people of India. Ironically, this commitment of Twitter has been most invisible in recent times. It is pertinent to share some recent examples:

  • Twitter chose to show the geo-location of certain locations in the Union Territory of Ladakh as part of People’s Republic of China at a time when India and China were engaged in peaceful resolution of border related issues through bilateral dialogue. Twitter took several days, that too only after repeated reminders, to rectify this blatant disrespect to India’s sensitivity and territorial integrity.
  • Twitter chose to take suo-moto action against those users who it considered as perpetrators of violence at the Capitol Hill in the USA. But, just a few days after the unlawful incidents on Red Fort in Delhi, Twitter refused to take prompt action on the lawful request made by the Government of India to block contents that sought to incite violence on the pretext of a fake genocide plan. Later, it chose to comply, that too partially, .when the damage had been done.
  • Twitter’s lack of responsibility has led to rampant proliferation of fake and harmful content against India and Indians. Promoting vaccine hesitancy has been rampantly done through the use of Twitter platform and yet Twitter has taken no action. Is this commitment to the people of India?
  • Discriminatory behavior has been practiced against Indiansand people of Indian origin because of malicious tagging of B.1.617 mutant as ‘Indian variant’ name despite strict WHO guidelines against it. Again, Twitter has taken no action against such fake narratives and Tweets while grandiosely claiming to serve the people of India.

Twitter Inc., a USA based private company, in its communique says that it seeks “constructive dialogue”, “collaborative approach” from the government of a sovereign democratic republic to “safeguard interests of the public”. It is time that Twitter disabuses itself of this grandiosity and comply with the laws of India. 

The Government also wishes to emphatically assure that representatives of social media companies including Twitter are and will always remain safe in India and there is no threat to their personal safety and security. Government condemns the unfortunate statement issued by Twitter as totally baseless, false and an attempt to defame India to hide their own follies. The Delhi Police has also issued a detailed press release, pertaining to an ongoing investigation, which answers the completely baseless allegations raised by Twitter.

 

 

Twitter rolls out larger image previews on iOS and Android

Micro blogging site Twitter has recently introduced bigger image previews on iOS and Android. As per twitter, images with 2:1 and 3:4 aspect ratios will now show in full, however, if a user posts an incredibly tall image, it will still get cropped. The company started testing this feature back in March, however, now it is rolling out to everyone, This feature only works on the mobile, and on the contrary, on the web, the images still get cropped as before, even though most people have more screen real estate on the web than on their phone. Twitter said, its working to bring this feature to the web “soon”.