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Bluesky adds 1 million new users in 3 days amid X ban in Brazil

The decentralized microblogging platform has seen traffic and user numbers surge following the X expulsion from Brazil. 

American decentralized microblogging social platform Bluesky has seen a surge in adoption and user growth in Brazil following the country’s ban on Elon Musk’s social media platform X.

In a post on X on Sept. 1, Bluesky Social, also known as Bsky — which looks and feels very similar to Musk’s rival platformreported that it had accrued a million new users over the past three days. 

On Aug. 30, a Brazilian Supreme Court justice ordered the suspension of X in the country after Elon Musk refused to name a legal representative for the firm.

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Brazil Supreme Court upholds judge’s decision to suspend Elon Musk’s X

The Tesla CEO has used his platform on X to hint that Brazilian residents should defy the judge’s order using VPNs despite the risk of fines. 

A Brazilian Supreme Court panel has upheld a decision from one of its justices to suspend operations of social media platform X in the country.

In a unanimous decision on Sept. 2, a panel of five Supreme Court justices upheld Justice Alexandre de Moraes’ Aug. 30 ruling suspending X in Brazil. Moraes’ decision followed X owner Elon Musk’s refusal to name a legal representative for the firm’s operations in Brazil. 

In the months before Moraes’ decision, Musk heavily criticized the Supreme Court judge on X, claiming he was “evil” and a “dictator” for his alleged “illegal political censorship” of the social media platform. It’s unclear how the X owner may respond to the court ruling now that four other justices agreed with Moraes’ ruling.

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Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon Musk

Government Overspending Puts US in the ‘Fast Lane to Bankruptcy,’ According to Elon MuskIn recent times, Elon Musk, the owner of X and the CEO and product architect at Tesla, Inc., has been voicing his concerns about inflation. This discussion became especially prominent after he interviewed former U.S. President Donald Trump. Just two days ago, Musk took to X, declaring that the United States is “in the fast […]

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Brazilian Supreme Court Bans X, Imposes Fines for VPN Circumvention

Brazilian Supreme Court Bans X, Imposes Fines for VPN CircumventionThe Brazilian Supreme Court ordered a nationwide ban on X after a prior order mandating the social platform to assign a local representative was ignored. Brazilians began to lose access to the site on Saturday, as the Supreme Court prohibited citizens from using virtual private network (VPN) software to circumvent the blockage, establishing fines of […]

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Dogecoin Manipulation Lawsuit Against Elon Musk and Tesla Dismissed

Dogecoin Manipulation Lawsuit Against Elon Musk and Tesla DismissedElon Musk and Tesla Inc. successfully had a lawsuit dismissed that accused them of manipulating the price of dogecoin (DOGE) for personal gain. A U.S. District Judge in Manhattan ruled that the plaintiffs failed to provide convincing evidence, despite multiple revisions of their claims. The lawsuit alleged that Musk’s social media influence caused a 36,000% […]

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US Judge Dimisses Class Action Dogecoin (DOGE) Lawsuit Against Elon Musk and Tesla

US Judge Dimisses Class Action Dogecoin (DOGE) Lawsuit Against Elon Musk and Tesla

A US judge tossed the class action lawsuit accusing Elon Musk and his company Tesla of manipulating the Dogecoin (DOGE) market. A group of disgruntled DOGE investors sued Musk in 2022, accusing the business magnate of orchestrating a pump-and-dump via a series of public comments about the popular memecoin. Musk’s lawyers have filed multiple motions […]

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What the California AI ‘killswitch’ bill means for decentralized AI

The AI industry is split over new legislation in California that would implement a sort of emergency stop in AI systems.

Industry figures are divided on a contentious Californian artificial intelligence bill that passed on Aug. 28. 

The new legislation will compel AI firms to implement new safety protocols, including an “emergency stop” button for AI models.

The Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (SB 1047) passed the California Senate 29–9 on Aug. 28.

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Elon Musk Supports Efforts to Free Telegram CEO Pavel Durov

Elon Musk Supports Efforts to Free Telegram CEO Pavel DurovFollowing Telegram founder Pavel Durov’s arrest, Tesla CEO Elon Musk posted the hashtag #FreePavel on his social media platform X. The hashtags #FreePavel and #FreeDurov emerged as supporters protested Durov’s arrest and called for his release. Durov is known for his strong stance on privacy and free speech, often clashing with government authorities over his […]

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Elon Musk’s Twitter buyout is going so poorly that banks had to issue pay cuts

The “hung” loans have led to bankers calling it the worst buyout since 2008.

There have been thousands of corporate buyouts in the 14 years since the 2008 banking crisis. And, according to the banks holding the loans, none of them have been worse than Elon Musk’s takeover of Twitter. 

A report from the Wall Street Journal indicates that approximately $13 billion in loans used in the purchase of Twitter (now X) are stuck on banks’ balance sheets.

The typical practice for this type of debt financing is for banks to sell that debt to other investors. Since X is a private company, this practice allows investors who weren’t involved in the initial financing phase to become stakeholders.

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Donald Trump Plans To Offer Bitcoin Advocate Elon Musk Cabinet Position if He Wins Presidential Race: Report

Donald Trump Plans To Offer Bitcoin Advocate Elon Musk Cabinet Position if He Wins Presidential Race: Report

Former President Donald Trump is reportedly open to offering Elon Musk a cabinet or advisor position if he wins the presidential election in November. Trump reportedly told Reuters on Monday that the Tesla chief executive is a “brilliant guy” and said he “certainly would” consider Musk for a position. Musk endorsed Trump in July, hours […]

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