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Joe Biden unhappy with Elon Musk for buying platform that 'spits out lies'

Published on

January 5, 2023
Read Time:1 Minute, 30 Second

The relevance of social media platforms in world politics was first highlighted with the rise of Fb (later renamed Meta), which has been accused of manipulating info primarily based on consumer demographics. Twitter, lately acquired by Elon Musk, misplaced out when US President Joe Biden accused the positioning of spreading lies.

Biden attended a Chicago fundraiser for the upcoming election, the place he denounced Elon Musk for getting Twitter. He specified:

"What are all of us fearful about now? Elon Musk goes out and buys an outfit that sends and spits out lies everywhere in the world.”

Whereas the Biden administration has beforehand clarified its stance on selling the suppression of hate speech and misinformation on social media platforms, the president highlighted the shortage of monitoring on Twitter, including:

“There are not any extra editors. There are not any editors. How can we count on youngsters to know what's at stake?”

For the reason that launch of Bitcoin (BTC) in 2010, the crypto neighborhood selected Twitter as their residence to debate varied nuances and construct consensus on the selections made. Musk's $44 billion acquisition of Twitter got here with a promise of free speech. Nonetheless, with the rise of hate speech, quite a few advertisers have pulled out of doing enterprise with Twitter over issues about content material moderation.

Musk's rapid plan of action for Twitter consists of charging a $8 month-to-month payment for customers who need to hold their account verification.

Associated: Elon Musk faces class motion lawsuit over Twitter mass layoffs

Changpeng "CZ" Zhao, the CEO of crypto trade Binance, backed Musk's Twitter acquisition drive and invested $500 million in fiat foreign money.

Binance has introduced plans to type a staff to help Twitter's blockchain efforts, nevertheless, it's at present awaiting an official assertion.

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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : January 5, 2023
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