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Recession Concerns Ignite Amid US Economic Slowdown and Market Volatility

Recession Concerns Ignite Amid US Economic Slowdown and Market VolatilityIn recent weeks, both economists and technical indicators have hinted that the U.S. may be on the brink of a recession, causing anxiety to ripple through the markets. Meanwhile, over on X, the topic of recession is gaining more traction by the day, with users discussing the likelihood of an economic downturn. Social Media Buzzes […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Durov announces disabling personal geolocation from Telegram

Telegram’s “People Nearby” feature has been suspected of being a way for state authorities to locate and track dissidents.

Telegram founder Pavel Durov revealed in a Sept. 6 announcement that Telegram is cutting certain features from the platform, including media uploads to the platform’s “Telegraph” blog and disabling the “People Nearby” feature.

Durov told his followers that media uploads to the blogging platform were “misused” by malicious actors, explaining that the vast majority of the Telegram community was not abusing these features. However, Durov made it clear that the “0.001% involved in illicit activities” pose a disproportionate risk to the vast majority of law-abiding users on Telegram.

The Telegram co-founder also announced that the individual geolocation tracking would be ditched for a “businesses nearby” option. Durov likewise claimed that this personal geolocation feature was only used by a tiny minority of Telegram users.

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Durov announces disabling personal geolocation from Telegram

Telegram’s “people nearby” feature has been suspected of being a way for state authorities to locate and track dissidents.

Telegram founder Pavel Durov revealed that Telegram is cutting certain features from the platform—including media uploads to the platform’s “Telegraph” blog and disabling the “people nearby” feature—in a Sept. 6 announcement.

Durov told his followers that media uploads to the blogging platform were “misused” by malicious actors, explaining that the vast majority of the Telegram community was not abusing these features. However, Durov made it clear that the “0.001% involved in illicit activities” pose a disproportionate risk to the vast majority of law-abiding users on Telegram.

The Telegram co-founder also announced that the individual geolocation tracking would be ditched for a “businesses nearby” option. Durov likewise claimed that this personal geolocation feature was only used by a tiny minority of Telegram users.

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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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% […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Tanzania Reportedly Blocks X Amid Opposition Crackdown

Tanzania Reportedly Blocks X Amid Opposition CrackdownThe East African nation of Tanzania has reportedly restricted access to the social media platform X (formerly Twitter). This ongoing outage has been confirmed by Netblocks, an internet observatory organization. The incident coincides with a police alert regarding alleged plans by the opposition party to raid police stations. Prominent politician Tundu Lissu and four other […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

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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2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

New Hampshire Regulator Orders Cease and Desist Against Finstate Investment for Crypto Fraud

New Hampshire Regulator Orders Cease and Desist Against Finstate Investment for Crypto FraudThe New Hampshire Bureau of Securities Regulation has issued a cease and desist order against Finstate Investment LLC, accusing it of defrauding investors via a fraudulent cryptocurrency investment website. Finstate allegedly misrepresented account activity and offered illegal guarantees against losses. A retired New Hampshire resident, persuaded via Facebook to invest $3,526 in cryptocurrency with Finstate, […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

Speculation Grows on Joe Biden’s Whereabouts; Polymarket Bets 57% Chance of Tuesday Address

Speculation Grows on Joe Biden’s Whereabouts; Polymarket Bets 57% Chance of Tuesday AddressFollowing U.S. President Joe Biden’s withdrawal from the 2024 election, many Americans are curious about his whereabouts since he has not spoken to the nation following his letter posted to X on Sunday. On Tuesday, a Polymarket bet is predicting whether Biden will “make an appearance today” after his campaign resignation. The betting odds on […]

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum