Top Tech News Today: Elon Musk Plans on Auctioning Usernames to Get More Revenue for Twitter! Major Media Wants to Know Who Guaranteed Sam Bankman Fried’s $250 Million Bond
Online auctions on Twitter, Elon Musk plans on auctioning usernames! Read more tech news
Good Morning Tech fam, here are some quick tech updates for you to catch on to!
What’s New Today: Tim Cook feels his salary is too high, Apple reduces it by nearly half. Tim Cook’s revised salary will be USD 49 million, according to Apple.
Fast-Track Insights: The Financial Secretary Claims, Hong Kong’s Status as A “International Financial Centre” Puts It Ahead of The Competition as City Moves Toward Becoming a Digital Currency Hub.
Elon Musk anticipates that Twitter will delete approximately a billion inactive accounts, freeing up a large number of usernames. Some of these usernames are quite unique, and Musk intends to auction them off to generate more revenue for Twitter. Two Twitter employees with first-hand knowledge of the plan spoke to New York Times reporters, revealing that Twitter employees have been talking about selling some user names for the service since at least December. Engineers have discussed holding online auctions for user names, which are the words, numbers, or string of characters that follow the @ sign and are used to identify accounts on the platform.
A CEO’s pay package has rarely been deemed “too high”. Apple CEO Tim Cook, on the other hand, is an exception because, according to recent reports, he has requested a pay cut and will receive a nearly 50% reduction in his compensation package at the company. Apple stated in an SEC filing that Tim Cook’s revised salary will be USD 49 million in total going forward. This includes a USD 3 million base salary, a USD 6 million bonus, and a USD 40 million equity value. Furthermore, Cook’s percentage of stock units, which is linked to Apple’s performance, will increase from 50% to 75%.
Cognizant announced that Ravi Kumar S has been named CEO and a member of the Board of Directors, effective immediately. Kumar takes over both roles from Brian Humphries. Humphries will remain with the Teaneck-based IT major as a special advisor until March 15, 2023, according to a stock exchange filing by the Teaneck-based IT major. Cognizant announced last year that Kumar will join the company after a 20-year career at Infosys, where he most recently served as President from January 2016 to October 2022.
Eight major media outlets have asked the US judge overseeing Sam Bankman- Fried’s criminal case to make public the names of two people who helped guarantee the $250 million bond of the FTX cryptocurrency exchange founder. The public interest, lawyers for the outlets, including Reuters, said, “cannot be overstated,” and that the public’s right to know Bankman-guarantors Fried’s outweighed their privacy and safety rights. Bankman-lawyers Fried’s claimed that since FTX’s early November collapse and bankruptcy, their client’s parents, who co-signed the $250 million bond, had been harassed and received physical threats.
According to the financial secretary, Hong Kong is moving toward becoming a digital currency hub. Despite the market turmoil, Hong Kong’s plans to take the lead in the digital asset industry have received a boost in recent weeks. In a speech at the POWER Hong Kong Web 3 Innovators Summit, the region’s Financial Secretary Paul Chan confirmed that several firms had expressed strong interest in establishing offices in the city. While Chan did not reveal the names of the interested parties, he did state that they were enticed by the number of policies implemented by the government.
