Instagram is launching its own Video Editing App

Here are today’s top trending news from the world of technology and AI.

1)

Instagram is launching its own video editing app

In a rather surprising move, Instagram has announced the launch of an new video editing app called ‘Edits.’ The app has been designed to compete directly with existing and popular Instagram focused editing tools like CapCut. The app is currently available for pre-order on the IOS App Store, with Android version expected soon. Reports indicate that the app could be potentially launched in February or March. Adam Mosseri, head of the Instagram, said that the Edits has been designed for serious content creators and not casual users. This means, like CapCut, it will have many advanced editing features.

2)

TikTok says it is reinstating its service in the U.S

TikTok has announced that it is in the process of reinstating its service in the US after the shutdown on the app was enforced due to a federal ban that became effective from January 19^th, 2025. Google Play Store and Apple App Store had already removed the app in order to comply with the federal ban. TikTok’s announcement comes following assurances from President-elect Donald Trump, who indicated he would issue an executive order to delay the enforcement of the ban. This executive order aims to provide a window for negotiations regarding the app’s future in the US market. Trump’s assurance has given a huge boost to TikTok’s desperate attempt to survive in the US, which is its largest market. The Chinese video sharing app has nearly 170 Mn users in the US.

3)

Donald Trump’s wife launches her own rival cryptocurrency  

Melania Trump has officially launched her own cryptocurrency, named $Melania, just days after her husband and president-elect Donlad Trump launched his own cryptocurrency $TRUMP. Following the launch of $Melania, a significant negative impact was seen on the market value of $TRUMP. Reports indicate that $TRUMP experienced a dramatic drop of nearly 40% in value. This caused a loss of approximately $7.5 Bn in market capitalization. Meanwhile, $MELANIA saw an impressive surge in its value, reaching over $5 Bn in market capitalization shortly after its launch.

4)

xAI launches a free web version of its Grok chatbot    

Elon Musk’s xAI has launched a web version of its Grok AI chatbot, making it freely accessible to users without the need for an account on the social media platform X. Users will have to visit Grok.com for accessing the Grok chatbot. They have the option to sign in using existing X accounts, Google, or email addresses. The web version includes capabilities for real-time information gathering, question answering, and image generation. Users can manipulate responses through various modes such as Auto, Visualize, and Search. However, those signing in without an X Premium account will face restrictions similar to a free plan, including limits on image generation and analysis.