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Meta’s Twitter rival Threads appears to be struggling to hold on to users as its daily active user count is down by about four-fifth since its launch – just days after it broke records as the fastest-growing app ever. Within a few days of its launch, Instagram’s threads reached 100 million users, making it the most rapidly growing app ever developed. In comparison, OpenAI’s ChatGPT, which was the previous fastest-growing app, took two months to reach 100 million users. Growing at such a rapid rate, Threads easily became the leading competitor of X (formerly Twitter) with about three times as many users as all other rivals combined within hours of launching. But new data assessed by market research firm Sensor Tower suggests Threads is facing challenges in retaining its user base. The firm’s analysis points out that the daily active user count of Threads is down by 82 per cent since the app’s launch as of 31 July, CNN reported. Fewer users are opening the app and doing so less frequently, apart from spending less time there, according to Sensor Tower. Citing the market research firm, CNN said users spent barely three minutes per day on Threads, compared to nearly 20 minutes during its initial launch. Analysis by another firm Similarweb also pointed out that Threads is struggling to retain its users. While the app’s usage peaked on 7 July – immediately after its launch – with over 49 million daily active users on Android alone, this number had fallen to 12.6 million by 23 July, according to a blog post by Similarweb. At its peak, Threads reportedly had over a third of X’s audience on that platform, but by 23 July, this had dropped to about 12 per cent of the users on the Elon Musk-owned platform. Sensor Tower noted that Threads’ daily active user count is still falling at about 1 per cent each day. “Threads took off like a rocket, with its close linkage to Instagram as the booster. However, the developers of Threads will need to fill in missing features and add some new and unique ones if they want to make checking the app a daily habit for users,” Similarweb noted in its blog post. Despite falling numbers, Meta chief Mark Zuckerberg is “quite optimistic” about the app, intending now to focus on “retention and improving the basics”, according to CNN. “And then after that, we’ll focus on growing the community to the scale we think is possible,” Mr Zuckerberg said. Read More Meta is secretly building an AI chatbot with the personality of Abraham Lincoln Are you a Facebook user? Here’s how to claim your share of $725m settlement in privacy lawsuit Elon Musk red-faced as police halt Twitter sign removal leaving company called ‘ER’ Mark Zuckerberg reveals his 4,000 calorie diet and large McDonald’s order Meta is secretly building an AI chatbot with the personality of Abraham Lincoln Here’s how to claim your share of $725m settlement in Facebook’s privacy lawsuit

DALLAS & FORT WORTH, Texas--(BUSINESS WIRE)--Aug 7, 2023--

PayPal has launched a new cryptocurrency that is tied to and backed by the US dollar. PayPal USD, issued by Paxos Trust Company, is a type of digital currency called a stablecoin, which differs to other cryptocurrencies like bitcoin as their values are tied to traditional fiat currencies like dollars, pounds or euros. “The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the US dollar,” said PayPal chief executive Dan Schulman. “Our commitment to responsible innovation and compliance, and our track record delivering new experiences to our customers, provides the foundation necessary to contribute to the growth of digital payments through PayPal USD.” The new crypto token will roll out first to US PayPal customers, offering the ability to send and transfer PayPal USD to other people, as well as fund purchases when checking out at online stores. The new cryptocurrency comes at a time of increased scrutiny at the crypto industry, with regulators looking to avoid a repeat of the TerraUSD stablecoin collapse that wiped tens of billions of dollars from markets in 2022. The TerraUSD token was also pegged to the US dollar, however unlike PayPal USD it was not backed up by any dollar reserves. Instead, it used a partner cryptocurrency to maintain its value algorithmically, which ultimately caused both cryptocurrencies to crash in tandem. Other companies have also attempted to launch stablecoins, including Facebook’s Libra project, which was shut down last year after facing push back from regulators. The US House Financial Services Committee has since advanced a bill aiming to set up a federal framework for stablecoins in order to integrate them into modern payment systems. “We are currently at a crossroads to keep America at the forefront of digital asset innovation,” US Representative Patrick McHenry, who chairs the committee, said in a statement following PayPal’s announcement. “Congress is making significant, bipartisan progress on legislation to ensure the US leads the financial system of the future.” Read More What is Elon Musk’s ‘everything app’ X? Kenya suspends eyeball-scanning crypto worldcoin

Banned from using popular Western apps, Iranians have been left with little choice but to take up state-backed alternatives, as the authorities tighten internet restrictions for...

The mother of murdered two-year-old James Bulger has condemned “sick” AI-generated clips of her son circulating on social media three decades after his death. An animated version of the dead toddler discussed his abduction and murder by two 10-year-old boys in 1993, in videos shared on TikTok which James’ mother Denise Fergus condemned as “disgusting” in an interview with The Mirror. The social media app said the clips have since been removed for violating its guidelines. James was tortured and killed by Jon Venables and Robert Thompson after they snatched him from a shopping centre in Bootle, Merseyside, on February 12 1993. The pair were jailed for life but released on licence with new identities in 2001. Venables, 40, was sent back to prison in 2010 and 2017, the latter for possessing indecent images of children, and was turned down for parole in 2020. The videos on TikTok showed animated children, including one depicting James, detailing his abduction and murder. James’ body was found on a railway line two days after his abduction and some of the animated clips reportedly showed an avatar by train tracks. A slew of AI-generated likenesses of other missing or murdered children had also been shared on TikTok, according to reports. Others showed Madeleine McCann, who disappeared aged three while on a holiday in Portugal in 2007; 11-year-old Rhys Jones, who was murdered in Liverpool as he walked home from school in 2007, and Peter Connelly, also known as Baby P, who died after months of abuse in 2007. Ms Fergus, 55, told The Mirror the clips were “disgusting” and she is reportedly particularly upset by an avatar which looked like a photo of James and appeared to speak. She told the paper: “It is one thing to tell the story, I have not got a problem with that. “Everyone knows the story of James anyway. “But to actually put a dead child’s face, speaking about what happened to him, is absolutely disgusting. “It is bringing a dead child back to life. “It is wrong. “To use the face and a moving mouth of a child who is no longer here, who has been brutally taken away from us, there are no words. “I think these people must be disturbed. “They have got to be. “It is not just not nice for the parents to see. “I don’t think anyone at all should be able to see stuff like this. “To see his little face moving when he is no longer here, it is disgusting. “It all should be taken down and stopped. “It is not fair on the people who have lost children, or lost anyone. “We are not just saying take James down, we are saying take it all down. “It is beyond sick. “Who can sit there and think of such a thing?” Ms Fergus’ husband Stuart reportedly contacted one produce of the animated videos, who appeared to be in the Philippines, and asked for the videos to be removed. The Mirror reported that the clips were often voiced in American accents, and also had Spanish and French versions. A TikTok spokesperson said: “We want TikTok to be a welcoming place for everyone, and there is no place on our platform for disturbing content of this nature. “Our community guidelines are clear that we do not allow synthetic media that contains the likeness of a young person. “We continue to remove content of this nature as we find it.”

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By Blake Brittain The California Institute of Technology has reached an agreement to end a patent lawsuit against