ED Has Finally Unfrozen the Bank Accounts of WazirX; The Future of Metaverse Could be Lucrative in the Years to Come! Tech Market Roundup

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What's new today: Cryptocurrency exchange WazirX said that the Enforcement Directorate (ED) had unfrozen its bank accounts; The metaverse is anticipated to proliferate to become a US$679 billion industry by 2030.

Fast-Trach Insights: Foreign companies struggle to meet tech specifications of the submarine plan; Sun's solar switchback mystery is solved, courtesy of this tech marvel.

Cryptocurrency exchange WazirX on Monday said that the Enforcement Directorate (ED) had unfrozen its bank accounts which were frozen as part of the agency's probe into illegal Chinese loan apps. "WazirX is now in a position to continue its banking operations as usual," the exchange said in a statement.

With the U.S. dollar restrained and the Ethereum blockchain's software upgrade known as the Merge almost here, stars seem to be aligned in favor of ether (ETH). And yet, the native token of Ethereum has been underperforming bitcoin (BTC) since Friday.

A report by IT research firm Everest Group has predicted the future of the metaverse industry could be lucrative in the years to come. According to the report, the metaverse is anticipated to grow quickly to become a US$679 billion industry by 2030. However, this growth has implications for trust and safety (T&S), including threats to user security, increased abuse, the proliferation of objectionable content, and financial fraud.

The Indian Navy's plan to build six conventional submarines in India could get stalled with foreign technology partners finding it difficult to meet critical specifications for underwater endurance and stealth, besides having concerns on technology transfer.

The European Solar Orbiter, has solved the mystery of the origin of a magnetic phenomenon called a solar switchback i.e, sudden and large deflections of the solar wind's magnetic field. The findings reveal their physical formation mechanism that might help accelerate the solar wind. The spacecraft provides a full view of the structure, which appears to have an S-shaped character as predicted in the past.