🛑 Senators Voice Their Concerns on Facebook’s Novi Wallet Project, Asks to Discontinue It

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Senators Voice Their Concerns on Facebook’s Novi Wallet Project, Asks to Discontinue it

Just hours after the launch of Facebook’s Novi Wallet pilot project that it launched in partnership with Coinbase, five senators asked Facebook to discontinue it.

The most vocal critic against Facebook’s ambitious crypto wallet project was senator Elizabeth Warren. She sent a letter to Mark Zuckerberg, Facebook’s CEO, urging him to “immediately discontinue’ the project.

In her letter to Zuckerberg, Senator Elizabeth Warren wrote:

“Given the scope of the scandals surrounding your company, we write to voice our strongest opposition to Facebook’s revived effort to launch a cryptocurrency and digital wallet, now branded ‘Diem’ and ‘Novi,’ respectively.”

Previously known as Libra, which was later rebranded into Diem, is known widely as Facebook’s ambitious crypto project. Due to regulatory pressure, Libra was delayed for many years, which led to the rebranding of the project as Diem.

As for Novi, it is Facebook’s crypto wallet meant to hold Diem tokens, along with other stablecoins. The Novi pilot project is limited to the US & Guatemala markets for now.

Coinbase, with whom Facebook has partnered for the project, will be providing crypto custodial services. Under the pilot project, Novi’s users can receive and send Pax Dollars, popularly referred to as USDP.

Google Pixel Phone Users can Access Android 12 now

Many Android fans were eagerly waiting to try out Android 12 & its features. For the last few weeks, access to the final version of Android 12 was limited to AOSP.

Now, any user with Pixel 3 and above model phones can install Android 12 right away. It will also be rolled out to Pixel 6 and Pixel 6A phones later on.

As for other mobile phone devices like Xiaomi, OnePlus, Samsung, Vivo, among others, Android 12 will be available for download later this year.

The new Material You design is the most exciting feature in Android 12. It allows users to play around with their home screen as per their preference.

Co-Authoring & Sharing Content Soon to Become a Reality on Instagram

Instagram is rolling out a new feature on its platform, known as Collab. This feature will allow two users to jointly own a single Instagram post or Reel.

The Collab feature will be tested initially by adding a nonprofit fundraiser to a post. On Thursday, this feature will be extended to the creation of photos and videos, but only on the desktop. At the same time, this feature will also be available to users creating music-focused reels.

To enable the Collab feature, the user will have to visit the tagging screen. Once enabled, the user with whom you want to share the post or Reel, should accept the invite.

Social Media Giant Twitter Acquires Sphere, a Group Chat Application

Twitter has acquired Sphere, known for operating an eponymous chat app for groups. This move is one of many that the social media giant has taken to diversify its product offerings.

Founded by Nick D’Aloisio, known for being the founder of Summly, a popular news summary app, acquired by Yahoo at an alleged price of $30 million.

Commenting on Twitter’s acquisition of Sphere, the group chat app startup mentioned in its blog:

“Much like others, we’ve been watching and admiring Twitter’s growing investment in community-building with the release of Communities, Spaces, and features that promote safety.”

It added: “When we met the team, we were even more impressed by how seriously they are pursuing interest-based community and how much they believe in its potential impact.”

As per the deal, Sphere will pull the plug on its standalone app next month.

Around the Web

⚖️ UK’s Competition and Markets Authority (CMA) Fines Facebook: The social media behemoth will have to cough up $69 million in fines to UK’s competition watchdog for failing to comply with an order imposed by the authority. The order mandated that Giphy and Facebook continue to compete against each other as they did before the acquisition.

😊 To Expand its Cartoon Influencer Universe, Superplastic Nabs $20M in Funding: Superplastic, which is known for its universe full of weird, yet cute cartoon influencers, raised $20M funding from various investors. With this successful funding round, Superplastic has now raised $38M in total.

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