#media

The Wall Street Memes (WSM) meme token is slated for listing on OKX Exchange, happening today at 10:00 GMT. A similar event with PEPE saw the token's price soar with a 15x increase. But what exactly is Wall Street Memes? Originating from Reddit a few years back, this meme community has grown to nearly 800,000 members across different social media platforms, humorously dissecting crypto and financial news. Before rolling out the WSM token in May, they were renowned for their Wall Street Bulls NFT collection. Their token's presale has drawn to a close, amassing approximately $25 million with the token's cost fixed at $0.0337.

At the Intersekt 2023 fintech conference, top executives from Australian crypto firms addressed the growing concern of fraud in the sector. Their consensus? Educating users about scammers' tactics can drastically cut down on fraud incidents. Instead of simply responding to issues, the focus should be on proactive prevention. The discussion also pointed out that the responsibility for curbing crypto scams doesn't just fall on the crypto industry — it's shared by banks, social media platforms, and telecom companies as well.

The country intention to seek a court-ordered shutdown of Facebook unless the social media giant takes decisive action to address alleged investment and cryptocurrency scam advertisements on its platform. According to the Ministry of Digital Economy and Society, over 200,000 individuals fell victim to deceptive Facebook ads. The ministry highlighted that common tactics employed by scammers included crypto investment and trading schemes, often featuring images of celebrities and prominent financial figures, and promising daily returns of up to 30%. The ministry is in the process of gathering evidence regarding these scam advertisements, with their number estimated to be over 5,300.

Social media giants, like Facebook, rely on a vast global moderation teams to sift out damaging content, from child pornography materials to severe violence. The implementation of GPT-4 might be the key to revolutionizing this workflow. "The process [of content moderation] is inherently slow and can lead to mental stress on human moderators. With this system, the process of developing and customizing content policies is trimmed down from months to hours," assert OpenAI representatives. Access to the OpenAI API now enables individuals to forge their distinct AI-driven moderation frameworks.

The world's richest individuals sparring on social media is pure entertainment. Zuckerberg proposed August 26 for the showdown, but Musk hasn't fully committed yet. Instead, he mentioned not having time for workouts; hence, he's lifting weights at work. And get this, Musk's combat style of choice is wrestling! Can you imagine the spectacle that would be?! Musk even suggested a charity fundraiser, but Zuckerberg countered by advocating for a "trustworthy" platform, hinting at avoiding X (Twitter). These clever marketing tactics have definitely sparked social media engagement! But will the face-off actually happen? What do you think?

FriendTech, a crypto-based social media platform, has introduced email-based accounts as an alternative to phone numbers. This move comes in response to multiple reports of SIM swap attacks targeting FriendTech users.

Local media in Nairobi reports that the police have raided a Worldcoin warehouse, confiscating documents to probe into the company's conduct. The Data Commissioner alleges that the company failed to disclose its actual goals when registering. The data from iris-scanning technology becoming compromised is a rising fear among industry specialists. Nevertheless, Worldcoin maintains that they've safeguarded all pertinent data.

But officials are concerned about potential negative impacts on consumers, according to Semafor media. The fear is that an indictment could trigger a run on the exchange, leading to consumer losses and causing panic in the crypto markets, similar to what happened with FTX, which eventually went bankrupt. As a result, prosecutors are exploring alternative options such as fines and deferred or non-prosecution agreements.