Social Media

EU Commission targets X over ‘dissemination of illegal content’

X owner Elon Musk told advertisers to “go f— yourself” on Nov. 29 after many left the social media platform in response to antisemitic content and a report on hate speech.

The European Commission said it had opened formal proceedings to investigate X — formerly Twitter — over content related to the terrorist group Hamas’ attacks against Israel.

In a Dec. 18 notice, the commission said it planned to assess whether X violated the Digital Services Act for its response to misinformation and illegal content on the platform. According to the government body, X was under investigation for the effectiveness of its Community Notes — comments added to specific tweets aimed at providing context — as well as policies “mitigating risks to civic discourse and electoral processes.”

“The opening of formal proceedings empowers the Commission to take further enforcement steps, such as interim measures, and non-compliance decisions,” said the notice. “The Commission is also empowered to accept any commitment made by X to remedy on the matters subject to the proceeding.”

Read more

Chainlink Labs enters into a strategic collaboration with Cointelegraph Accelerator to support Web3 startups

Cointelegraph Accelerator is excited to announce a strategic collaboration with Chainlink Labs, the primary contributing developer of the industry-standard decentralized computing platform Chainlink.

Cointelegraph Accelerator is excited to announce a strategic collaboration with Chainlink Labs, the primary contributing developer of the industry-standard decentralized computing platform Chainlink. This collaboration will align the Cointelegraph Accelerator and Chainlink BUILD programs, helping drive innovation and accelerate the growth of next-gen Web3 projects.

The Cointelegraph Accelerator is a global program that supports early-stage and up-and-coming Web3 startups. As part of the collaboration with Chainlink Labs, the Cointelegraph Accelerator will provide Chainlink BUILD projects with marketing support, media strategy, social media playbooks, user acquisition guides, access to the largest industry events, and other benefits that help accelerate their growth.

On the other hand, Chainlink Labs will engage with projects under the wing of the Cointelegraph Accelerator by offering technical support, mentorship and providing access to Chainlink’s decentralized computing platform and expanding their builder communities.

Read more

Hashing It Out: A case for Web3 chat apps with Push Protocol’s Harsh Rajat

Harsh Rajat, founder and project lead of Push Protocol, explains the surge in the development of Web3 chat applications on the latest episode of Hashing It Out.

Episode 39 of Hashing It Out features an interview with Harsh Rajat, founder and project lead of Push Protocol, who talks about the Ethereum ecosystem and the future of on-chain chat apps.

Rajat articulates that his innovations in the cryptocurrency industry were inspired by his background working on mobile applications.

Rajat believes the Ethereum ecosystem is where innovation happens in the blockchain space.

On recent developments in the Ethereum ecosystem, Rajat says that having multiple layer-2 networks is a good thing.

Another development that Rajat is more familiar with is the surge in chat applications built on Ethereum.

“Web3 relies on communication before it can even rely on features.”

The rest of the episode discusses wallets as Web3 identities, the use cases of token-gated group chats and the future of the Ethereum ecosystem.

Magazine: Pudgy Penguins GIFs top 10B views, CEO sets sights on Disney, Hello Kitty: NFT Creator

Read more

Over 30% TikTok videos on crypto investments are misleading: Research

TikTok videos sporting popular crypto-related hashtags — such as crypto, cryptok, cryptoadvice, cryptocurrency, cryptotrading and cryptoinvesting — have cumulatively churned over 6 billion views.

More than 1 out of 3 influencers on TikTok, the go-to social media platform for the young generation, have been found to post misleading videos about Bitcoin (BTC) and cryptocurrency investments in a recent study. 

TikTok has been widely adopted as a video-based alternative to Google searches. However, some influencers have been found to share unvetted misinformation on the social media platform about crypto investments, often trying to convince unwary viewers to put their (or their parents) hard-earned money into loss-making cryptocurrencies.

TikTok influencers use the hashtag ‘#cryptok’ while posting crypto-related content. An analysis of over 1,161 such TikTok videos — conducted by dappGambl — revealed that over one in three videos on crypto TikToks were misleading. The research also found that merely 1 in every 10 cryptok accounts or videos contained some form of disclaimer that warned users about the risk of investments.

Out of the lot, 47% of TikTok creators were found trying to push services to make money. Mainstream influencers, including Kim Kardashian, Jake Paul and Soulja Boy were also previously accused of promoting cryptocurrencies to their millions of fans without disclosing payments received.

The United States Securities and Exchange Commission forced Kim Kardashian to pay $1.26 million in penalties for the promotion of EthereumMax (EMAX). While TikTok influencers have a smaller reach than their mainstream counterparts, the potential financial risk for unwary investors remains equally high.

The research also found that 1 in 3 misleading videos on TikTok mention Bitcoin. Moreover, videos on TikTok sporting popular crypto-related hashtags — such as crypto, cryptok, cryptoadvice, cryptocurrency, cryptotrading and cryptoinvesting — have cumulatively churned over 6 billion views.

Viewers often oversee the ill-intent of their favorite influencers and end up trusting their content purely based on the high number of views or likes. Both new and seasoned investors are advised to do extensive research on crypto projects prior to making any form of investment.

Follow Cointelegraph’s TikTok account for the most recent news about crypto industry.

Related: How a TikTok ban in the US could affect the crypto industry

On April 2, a $1 billion lawsuit was filed against crypto exchange Binance, its CEO Changpeng “CZ” Zhao and three crypto influencers for promoting unregistered securities.

“This is a classic example of a centralized exchange, which is promoting the sale of an unregistered security,” read the lawsuit filed by the Moscowitz Law Firm and Boies Schiller Flexner.

As Cointelegraph reported, the lawsuit alleges that “millions” of people could be eligible for damages.

Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable

Over 30% of TikTok videos on crypto investments are misleading: Research

TikTok videos tagged with popular crypto-related hashtags — such as #crypto, #cryptok and #cryptoadvice — have cumulatively garnered over 6 billion views.

More than one-third of crypto influencers on TikTok, the go-to social media platform for the younger generation, have posted misleading videos about Bitcoin (BTC) and other cryptocurrency investments, according to a recent study.

Many people now rely on TikTok as their first source of information rather than going to Google for answers, but the recent study from daapGamble alleges that many influencers are sharing unvetted misinformation about crypto investments, often trying to convince unwary viewers to put their — or their parents’ — hard-earned money into cryptocurrencies that will lose them money.

Many TikTok influencers use the hashtag “#cryptok” while posting crypto-related content. DaapGambl analyzed 1,161 such TikTok videos and found that more than one in three were misleading. The research also found that just one out of 10 “cryptok” accounts or videos contained some form of disclaimer that warned users about the risks of investing.

47% of the crypto TikTok creators were found to be trying to make money by pushing services. Meanwhile, mainstream influencers such as Kim Kardashian, Jake Paul and Soulja Boy were also previously accused of promoting cryptocurrencies to their millions of fans without disclosing the payments they had received.

The United States Securities and Exchange Commission forced Kim Kardashian to pay $1.26 million in penalties for promoting EthereumMax (EMAX). While crypto influencers have a smaller reach than their mainstream counterparts, the potential financial risk for unwary investors remains equally high.

The research also found that one in three misleading videos on TikTok mention Bitcoin. Moreover, videos on TikTok sporting popular crypto-related hashtags — such as #crypto, #cryptok, #cryptoadvice, #cryptocurrency, #cryptotrading and #cryptoinvesting — have cumulatively garnered over 6 billion views.

Viewers often overlook the ill intent of influencers and trust their content purely based on its high number of views or likes. Both new and seasoned investors are advised to do extensive research on crypto projects prior to making any form of investment.

Follow Cointelegraph’s TikTok account for the latest crypto industry news.

Related: How a TikTok ban in the US could affect the crypto industry

On April 2, a $1 billion lawsuit was filed against crypto exchange Binance, CEO Changpeng Zhao and three crypto influencers for allegedly promoting unregistered securities.

“This is a classic example of a centralized exchange, which is promoting the sale of an unregistered security,” said the lawsuit, filed by the Moscowitz Law Firm and Boies Schiller Flexner.

As Cointelegraph reported, the lawsuit alleges that “millions” of people could be eligible for damages.

Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable

‘BitBoy Crypto’ intentionally misses court appearance to address alleged harassment

YouTuber and Crypto Twitter personality Ben Armstrong openly mocked a federal judge’s authority, tweeting pictures of himself on a beach during an ordered court appearance.

Ben Armstrong, also known as “BitBoy Crypto,” missed a court appearance ordered by a federal magistrate judge in response to the YouTuber’s alleged harassment of counsel in a lawsuit involving several crypto influencers.

Judge Melissa Damian had ordered Armstrong and his counsel to appear on April 20 to address the YouTuber’s “harassment towards plaintiffs’ counsel.” However, Armstrong openly mocked the order on social media, instead tweeting pictures of himself on a beach in the Bahamas.

According to various reports, Judge Damian warned Armstrong’s attorney — who was in attendance, as ordered — that she would issue a warrant for the YouTuber’s arrest if he failed to appear by April 24. The harassment case against Armstrong moved forward without him, with the judge reportedly referring the matter to the FBI.

Individuals affected by the collapse of FTX filed a class-action lawsuit against Armstrong and several other YouTubers in March for allegedly promoting fraud through the exchange “without disclosing compensation.” Moskowitz, the lead attorney representing the plaintiffs in that case, claimed that Armstrong harassed the legal team with “endless phone calls, tweets and emails,” voicemails “full of vulgarities,” and social media posts suggesting threats.

Amid court proceedings on April 20, the YouTuber continued to mock the harassment case and Moskowitz. However, he said that he was “not flying by the seat of [his] pants,” hinting that his absence from court may have been with the advice of counsel. He reportedly offered through counsel to appear before the judge in May.

As part of the judge’s order on April 20, Armstrong will reportedly be barred from tweeting about Moskowitz and the plaintiffs in the case. He previously compared the lawyer to an ambulance chaser and a pig in addition to largely dismissing the basis of the lawsuit. Cointelegraph reached out to Moskowitz for comment, but did not receive a response at the time of publication.

Related: Multiple Silvergate lawsuits over alleged FTX ties combined by judge

A crypto influencer with more than 1 million followers on Twitter and 1.4 million YouTube subscribers, Armstrong is no stranger to online controversy. He has insulted high-profile figures, including European Central Bank President Christine Lagarde and U.S. Securities and Exchange Commission Chair Gary Gensler, in addition to others affecting policy in the space.

Magazine: Get your money back: The weird world of crypto litigation

Metaverse for youth: Meta urged to ban minors from virtual world

Currently allowing users from 18, Meta also wants to open up its metaverse app Horizon Worlds to users aged 13 to 17.

Advocacy organizations and safety groups have urged Mark Zuckerberg’s social media giant Meta to halt plans to allow minors into the metaverse.

Online safety groups and experts sent a letter to the Meta CEO on April 14, calling out the firm to scrap its plans to invite teenagers and young adults to join its metaverse app, Horizon Worlds. The letter was signed by major safety groups, including Airplay, the Center for Countering Digital Hate, Common Sense Media and others, according to a report by Bloomberg.

The activists argued that Meta must first assess the potential risks of allowing youth in the metaverse, as minors will likely face harassment and privacy violations on its virtual reality app.

“Meta must wait for more peer-reviewed research on the potential risks of the metaverse to be certain that children and teens would be safe,” the advocates wrote in the letter.

The statement referred to a March report from the Center for Countering Digital Hate that found users under 18 have already been facing harassment from adults on the app. The study specifically witnessed 19 episodes of abuse directed at minors by adults, including sexual harassment, during 100 visits to the most popular worlds within Horizon Universe.

The safety experts argued that Meta should create a new path with its metaverse project to protect the youth, stating:

“Should Meta throw open the doors of these worlds to minors rather than pause to protect them, you would, yet again, demonstrate your company to be untrustworthy when it comes to safeguarding young people’s best interests.”

As previously reported, Meta started planning to open Horizon Worlds to users aged 13 to 17 in February. The company opened Horizon Worlds to users from 18 in 2021 but has struggled to keep users returning to the platform.

Related: France’s metaverse consultation seeks input on alternative to tech ‘giants’

According to Bloomberg, Meta currently doesn’t intend to abandon its plans for miners in the metaverse but is preparing to adopt some extra measures to protect such users from any metaverse-related violations, Meta’s Joe Osborne said.

“Before we make Horizon Worlds available to teens, we will have additional protections and tools in place to help provide age-appropriate experiences for them,” Osborne noted, adding:

“Quest headsets are for people 13+ and we encourage parents and caretakers to use our parental supervision tools, including managing access to apps, to help ensure safe experiences.”

The latest initiative to protect minors in virtual reality is not the first callout on Meta to reconsider its plans on allowing youth into the metaverse. Previously, Senators Ed Markey and Richard Blumental demanded Meta to scrap plans to expand access to the app for teens aged 13 to 17 in a joint letter issued in early March.

Magazine: NFT Creator, Sarah Zucker: The Sarah Show’s analog past meets dizzying digital future

Judge orders YouTuber ‘BitBoy Crypto’ to appear and address alleged harassment

Ben Armstrong was ordered to appear in a Florida court to address allegations he threatened and harassed lawyers behind a class-action lawsuit against him and other crypto influencers.

A federal magistrate judge has signed an order requiring BitBoy Crypto YouTuber Ben Armstrong to appear in Florida as part of a status conference related to a lawsuit involving several crypto influencers.

In an April 12 filing in the United States District Court for the Southern District of Florida, Judge Melissa Damian ordered Armstrong and his counsel to appear on April 20 along with the legal team representing the influencers. According to the order, the conference was aimed at bringing awareness of “Armstrong’s harassment towards plaintiffs’ counsel.”

Armstrong, along with several other YouTubers, were named in a $1-billion lawsuit filed on March 15 for allegedly promoting “FTX crypto fraud without disclosing compensation.” Adam Moskowitz, representing plaintiff Edwin Garrison and others in the class-action lawsuit, has claimed that Armstrong harassed the legal team with “endless phone calls, tweets and emails,” voicemails “full of vulgarities,” and social media posts suggesting threats.

An April 5 filing showing cause for a hearing with Armstrong detailed “daily violent threats” by the YouTuber in addition to responses to emails with threats and insults before being served with process papers. The legal team also reported in a March 20 filing that one of Armstrong’s voicemails included the YouTuber allegedly threatening to surround Moskowitz’s home with protesters “24/7 day and night.”

“The scope of the attacks (including death threats), which examples are provided in those filings and which continue on a daily basis since, necessitated Undersigned Counsel to open an FBI investigation into Armstrong, as well as the investigation files by local police authorities for Plaintiffs’ counsel and their families,” said Moskowitz.

Twitter posts from Armstrong claimed the original lawsuit regarding disclosure of compensation from FTX had “absolutely no merit.” The crypto influencer is no stranger to online controversy, regularly insulting high-profile figures, including European Central Bank president Christine Lagarde and being generally dismissive of the class-action lawsuit.

Related: YouTube appoints Web3-friendly exec as new CEO

In August 2022, Armstrong filed a defamation suit against YouTuber Erling Mengshoel Jr. — also known as Atozy — in response to a video Mengshoel posted claiming that “This YouTuber scams his fans… Bitboy Crypto.” Armstrong dropped the lawsuit after Mengshoel raised more than $200,000 in a campaign for his defense in less than 24 hours.

Magazine: Get your money back: The weird world of crypto litigation

Crypto users react to Satoshi Nakamoto’s 48th birthday

Once again, the Bitcoin creator’s age increased by one year on their P2P Foundation profile — suggesting a birthday of April 5, 1975.

The legendary creator of Bitcoin, Satoshi Nakamoto, turned 48 years old today, at least according to information provided to the global network P2P Foundation when they registered.

Though the identity of the Bitcoin (BTC) creator and thus their birthday remains unknown to the public, crypto enthusiasts took note of when Satoshi’s age increased by one year on their P2P Foundation profile — suggesting a birthday of April 5, 1975. Crypto users have suggested that the date — since Satoshi may represent a group of people rather than an individual — may come from a day in 1933 when United States President Franklin Delano Roosevelt started taking the country off the gold standard, issuing an executive order for all U.S. citizens to return gold coins and gold certificates worth more than $100 to the Federal Reserve.

Screenshot of Satoshi Nakamoto’s profile page on P2P Foundation — April 5, 2023.

Speculating as to the true identity of the person or persons who helped create the original cryptocurrency has been a popular pastime among many users on social media and in online forums. Among the names proposed are ​​computer scientist and Bit Gold creator Nick Szabo, early BTC contributor Hal Finney — who regrettably passed in 2014 — cryptographer Adam Back, and Japanese-American engineer and physicist Dorian Nakamoto.

Though Satoshi’s face remains unknown, members of the crypto space continue to honor them using their likeness in other ways. A bronze depiction of the Bitcoin creator went on display for visitors of Graphisoft Park in Budapest in 2021, and many people pitch Satoshi as a recipient for the Nobel Memorial Prize in Economic Sciences every year.

Related: Could Bitcoin have launched in the 1990s — Or was it waiting for Satoshi?

Other notable dates for BTC fans include the publication of the Bitcoin white paper on Oct. 31, 2008, as well as Bitcoin Genesis Day on Jan. 3, 2009, marking the time Satoshi mined the first BTC block leading to the minting of the first coins. There are many more to come: the next Bitcoin halving expected in 2024 along with the mining of the 21 millionth coin.

At the time of publication, the price of Bitcoin was $28,296, having risen more than 26% in the last 30 days.

Magazine: Satoshi may have needed an alias, but can we say the same?

Who paid for Twitter Blue verification? Here’s how to find out

Under the direction of Elon Musk, Twitter rolled out the “Twitter Blue” subscription to discourage spam bots and fake accounts on the platform.

With Twitter allowing users to verify their accounts for a monthly fee, the number of accounts with a blue checkmark — previously associated with prominent figures — has flooded the social media platform. A browser extension available for Chrome, Firefox and Safari aims to bring back the balance by revealing the accounts that have paid $8 for subscribing to Twitter Blue.

Under the direction of Elon Musk, Twitter rolled out the “Twitter Blue” subscription to discourage spam bots and fake accounts on the platform. However, when the service was initially launched in November 2022, trolls took it as an opportunity to verify parody accounts and propagate fake information.

While a subsequent Know Your Customer requirement stifled the account verification of suspicious accounts, the number of verified accounts on Twitter skyrocketed, reintroducing user doubt. A browser extension named “Eight Dollars” allows users to spot the difference between actual verified accounts and Twitter Blue users.

The extension shows how each account gained its verification badge. For users that paid for the Twitter Blue subscription, the extension will display a “paid” text right next to the blue checkmark. For the rest, it will simply show “verified.“

The Eight Dollars extension shows a fake verified account impersonating Elon Musk. Source: Eight Dollars 

The above screenshot shows an example of how an account parodying Elon Musk paid for verification. As a result, the extension helps identify scam accounts.

Public reviews of people using the Eight Dollars extension. Source: chrome.google.com

Moreover, Twitter users supported the software extension as it effectively reinstates transparency across the social media platform, as evidenced by the screenshot of the reviews above.

Related: ‘CryptoGPT’ Twitter accounts spring up as hashtag trends on Twitter

Meanwhile, Musk, and more than 2,600 tech industry leaders and researchers signed an open letter calling for a halt to artificial intelligence development.

The letter split opinions, with many notable entrepreneurs opposing it.

Coinbase CEO Brian Armstrong believes that every technology poses a certain amount of danger, and the goal should be to keep moving forward.

Magazine: Simon Dixon on bankruptcies, Celsius and Elon Musk: Crypto Twitter Hall of Flame