📈 Bluesky Hits 20M Users As People Leave X (Twitter)

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• Google’s Gemini chatbot can remember things now

• Coinbase announces delisting of Wrapped Bitcoin

• Bluesky is adding millions of users post-election

• Elon Musk's X adds Twitch to boycott lawsuit

Let’s dive in!

STORIES MAKING A SPLASH

^_AI
Google’s Gemini chatbot can remember things now

Google’s Gemini chatbot now remembers details about your life, work, and preferences, adding context to conversations. For instance, if you tell it your favorite foods, it can suggest restaurants that match your taste. This feature is currently rolling out to select users and is similar to ChatGPT’s memory capability.

Available only through the $20-per-month Google One AI Premium plan, Gemini’s memory is limited to its web client and supports English-language prompts. Users can manage or delete stored memories anytime, and Google confirms this data is not shared or used for training the AI model.

However, memory features like this raise security concerns. Earlier this year, researchers demonstrated how hackers could implant false memories in AI, potentially exposing users’ data indefinitely, emphasizing the need for robust safeguards.

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^_CRYPTO
Coinbase announces delisting of Wrapped Bitcoin

Coinbase will suspend trading of Wrapped Bitcoin (WBTC) on December 19, 2024, due to undisclosed issues with the token meeting its listing standards. WBTC trading on Coinbase is now limited to existing limit orders, with no new market trades allowed. Withdrawals remain unaffected, ensuring users can access their funds anytime.

WBTC, a token representing Bitcoin on other blockchains, has faced scrutiny. In August, BitGo, the custodian managing WBTC’s Bitcoin reserves, granted partial control of its multisignature wallet to BiT Global, sparking concerns over the involvement of Justin Sun and the potential misuse of collateral.

Despite these controversies, WBTC remains the most popular Bitcoin wrapper, with over $13 billion in total value locked, according to DefiLlama. However, Coinbase’s decision highlights ongoing challenges for maintaining trust in tokenized Bitcoin assets.

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TECH SPECIAL

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Bluesky is adding millions of users post-election

Bluesky, a rising competitor to X (formerly Twitter), has surged past 20 million users, fueled by discontent over X’s recent changes. Its rapid growth has positioned it as a strong contender, with users flocking to the platform at an impressive rate. Market analytics show that Bluesky is narrowing the gap with Instagram Threads in daily active user and website visits.

Despite Threads’ larger base of 275 million monthly users, Bluesky has seen a 519% spike in U.S. daily activity since the elections, with similar trends in the U.K. Notably, Bluesky has overtaken Threads in daily website visits in these regions, underscoring its growing appeal.

Having opened to the public this year, Bluesky’s user base now grows by 100,000 daily. As frustrations mount over X’s policies, like data sales for AI, Bluesky is poised to challenge X’s dominance.

^{_{TECH SPECIAL}}
Elon Musk's X adds Twitch to boycott lawsuit

Elon Musk’s X has expanded its lawsuit against former advertisers, now including Amazon-owned Twitch. The legal battle targets members of the defunct Global Alliance of Responsible Media (GARM), accusing them of orchestrating an ad boycott against X, formerly Twitter, after Musk’s 2022 acquisition.

According to the lawsuit, Twitch has not advertised on X in the U.S. since November 2022. X also cites a GARM document referencing Twitch’s support for the alliance’s brand safety standards. Initially filed in August, the lawsuit previously included Unilever, which has since reached an undisclosed settlement with X.

Despite GARM’s disbandment, the World Federation of Advertisers plans to contest the claims. Meanwhile, X continues to face declining ad revenue, with a reported 40% drop in the first half of 2023, further strained by controversies and high-profile advertiser withdrawals.

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THE WAVES

^{_{OTHER NEWS}}
More Stories Surfing The Web

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