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Good morning tech fam, here are some quick tech updates for you to catch on to!
What's New Today: 31 people in India suffer heavy financial losses after they made investments through a crypto cloud mining app.
Fast-Track Insights: Epic Games alleges that Google has paid off developers and has stopped them from developing apps for alternate stores.
Google has approved the former US President's Truth Social app for distribution and is now available on the Play Store. The Trump Media and Technology Group designed the Truth Social app to become an alternate technology-based social media platform. Initially, the app was not launched in the US due to insufficient content moderation. Even Google expressed concerns earlier, but now all Android users can download the app.
Epic Games has alleged that Google has paid off software developers to persuade them from making apps for alternate stores. The charges mainly revolve around Google's Project Hug, which was later renamed 'Apps and Games Velocity program'. Apparently, Google spent millions of dollars to keep Andriod app developers on Play Store and deter them from making apps for third-party stores.
Indian startup funding dries up! Indian tech companies reached massive valuations last year, but due to the high inflation level and interest rate hikes, several overseas companies are shooting down operations to save company revenues. Venture capitalists and technology chiefs have expressed their concerns over the situation. The startup ecosystem in India has been growing dramatically but, over the past three months, funding around the startup ecosystem has declined, making IT employees worried.
31 people from Maharashtra's Solapur City have been cheated of Rs. 45 lakh after investing through a crypto cloud mining application. Crypto crimes are rising in India, the law enforcement claimed that a case will be registered against three people who have lured people to download the app and invest money through it, under the pretext that they will gain hefty returns.
Cryptocurrency platform, Crypto.com will set up regional headquarters in Paris! The firm will invest around 150 million euros, which is approximately US$145 million, in France to support the establishment of its market operations. The goal is to add to the local economy and hire local talents in the fields of compliance, business development, and product.
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