Finance news
A judge banned the use of Elon Musk’s social-media platform X in Brazil, according to media reports, the culmination of a months-long battle over allegations the platform was used to spread disinformation and Musk’s free-speech retort.
X had ignored an order to remove some accounts. So, on Friday, Brazilian Supreme Court Justice Alexandre de Moraes ruled that internet service providers must block X in the country of about 215 million people, according to the New York Times. Local media reported that anyone who uses a VPN to circumvent the ban could be subject to a fine amounting to 50,000 reais ($8,900), according to the BBC.
01:09
Digital Assets Head Weighs in on Spot Bitcoin ETF Race in the U.S.
06:12
Understanding the Success of Spot Bitcoin ETFs in Brazil
06:12
Understanding the Success of Spot Bitcoin ETFs in Brazil
01:15
Hashdex CEO Discusses Brazil’s ‘Sophisticated’ Market for Crypto
For cryptocurrencies, the decision cuts Brazilian users off from a platform that has for years served as the industry’s town square. Crypto-supporter Jack Dorsey, who co-founded X when it was called Twitter, has supported two alternative platforms: Nostr and Bluesky, though he’s distanced himself from the latter.
One of Bluesky’s developers posted on that platform after the Brazilian decision: “We’ve never seen traffic like this.”
Disclosure
Please note that our
and
do not sell my personal information
has been updated
.
CoinDesk is an
media outlet that covers the cryptocurrency industry. Its journalists abide by a
strict set of editorial policies.
In November 2023
by the Bullish group, owner of
a regulated, digital assets exchange. The Bullish group is majority-owned by
Block.one; both companies have
in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
Nick Baker is CoinDesk’s deputy editor-in-chief and a Loeb Award winner. He owns more than $1,000 of BTC and SOL.
