People Are Nominating to Replace Elon Musk on Twitter! UK Ad Regulator Bans Turtle United NFT And Crypto.Com Ads.

People are nominating to replace Elon Musk on Twitter, from a pet and Messi! Read more tech news

Good Morning tech fam, here are some quick tech updates for you to catch on to!

What’s New Today: Twitter is under scrutiny from the FTC for its privacy and security practices. The agency has enquired about the privacy consent decree.

Fast-Track Insights: Next financial crisis will come from crypto, says RBI governor, speaking at the BFSI Insight Summit 2022 hosted by Business Standard

Elon Musk, the CEO of Tesla, is no stranger to the news these days. Musk has constantly irritated the internet with his radical alterations to the microblogging site since buying Twitter. But when Musk organized, a poll asking whether or not he should resign, all hell broke loose. Unsurprisingly, the billionaire did not fare well in the findings. Elon Musk announced that he would resign as CEO once he found a replacement, thus this story did not end there. People have now begun recommending candidates in their tweets for the position of Twitter CEO, ranging from Messi to a cat.

According to Bloomberg News on Tuesday, which cited persons familiar with the situation, the Federal Trade Commission (FTC) of the United States is expanding its investigation into Twitter’s privacy and data security procedures. According to the article, the FTC’s attorneys have recently questioned two former corporate executives about whether the social networking site complies with the agency’s 2011 consent agreement. A person with knowledge of the situation told Reuters last week that the agency has inquired of the corporation about whether it has the necessary capabilities to abide by the privacy consent decree.

It appears that Elon Musk’s Tesla company will shortly announce yet another round of layoffs. More layoffs are planned, and Tesla has begun alerting staff about them, according to persons familiar with the situation who spoke to the Electrek news website. According to the quoted source, the layoff will occur in the next quarter, which essentially means in early 2023. Additionally, it is said that Tesla has also stopped hiring, however, it is not clear if this is for all positions or just a few. According to the stated source, the IT giant is getting ready to grow in several production regions, where it might feel the need to hire more staff.

The UK’s Advertising Standards Authority (ASA) has rejected advertisements for non-fungible token (NFT) promotions by Turtle United and Crypto.com. According to the ASA’s Dec. 21 decision on Foris DAX Global and Turtle United NFT, both companies failed to completely disclose transaction fees or adequately describe the dangers of participating in NFTs. The decision relates to paid Facebook advertisements that both businesses ran in July. The ASA has told both businesses not to run the adverts in the same manner again, even though its decision is just a warning.

Private cryptocurrencies will cause the next financial catastrophe if their growth is unregulated, according to RBI governor Shaktikanta Das on Wednesday. Speaking at the Business Standard-hosted BFSI Insight Summit 2022, Das stated that he continues to believe that cryptocurrencies should be outlawed since they have no intrinsic value and present dangers to macroeconomic and financial stability. The RBI has long opposed legalizing the use of private cryptocurrencies because it believes they pose a threat to stability. The central bank recently began testing its digital currency, the digital rupee, as a defence against them.