#social media

Binance, a leading crypto exchange by trading volume, announced the launch of a new asset, BFUSD. The news has been actively shared on social media, with many users on X assuming BFUSD is a stablecoin.

Following a conflict with local authorities over accusations of spreading disinformation, the social media platform X is set to relaunch in Brazil. Elon Musk had to comply with court orders to unblock access to the platform. In legal battles with independent judicial systems, it becomes clear that charisma and wealth don't protect anyone from accountability.

Devin Finzer, CEO and co-founder of OpenSea, revealed on the social media platform X that the U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to the NFT marketplace, signaling that the SEC may pursue legal action against OpenSea.

The European regulator may impose a fine equivalent to 6% of the total revenue on Elon Musk’s social media platform X for its failure to address illegal content. This measure will be considered if the company does not implement the necessary changes following its next official warning.

Project Liberty has teamed up with SOAR to propose a user-driven alternative to centralized social media platforms.

Fidelity, an investment company, reports that the value of X has plummeted by 4х since Elon Musk's purchase. Musk bought the social platform for $44 billion, utilizing personal funds, loans, and other resources, before taking the company private—removing it from the stock market.

The U.S. Federal Trade Commission (FTC) criticized several social media companies, including Meta, Google, and ByteDance, for collecting and processing user data without sufficient oversight or transparency. The collected data often includes age, gender, language, income, and other information of interest to advertisers.

The South Korean government has reached out to social media platforms, including the messaging app Telegram, demanding the removal of deepfake sexual content from their servers. Officials have identified Telegram as a major conduit for the distribution of such material.