Tesla CEO calls Trump’s spending package the ‘Debt Slavery Bill’.
Elon Musk has announced a novel update to X, the social media platform formerly known as Twitter. A new feature, called XChat, is now rolling out, offering private messaging secured by what Musk calls “Bitcoin-style encryption.” He stated: “All new XChat is rolling out with encryption, vanishing messages and the ability to send any kind […]
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Tech experts question the new offering's claims of having Bitcoin-style encryption.
US President Donald Trump’s brief post on Truth Social on May 29 sparked a quick burst of excitement among crypto traders. Based on reports, some users saw a hidden reference to the Pepe meme coin (PEPE). Related Reading: $400K Bitcoin? Analyst Says It’s Not A Dream—It’s ‘Coded’ In the next few hours, PEPE shot up by 5% but then fell back by 15%. Traders are now watching to see if this social push can do what Elon Musk once did for Dogecoin. Pepe Price Moves According to market data, PEPE’s price hit its upper resistance after the Trump post. A short surge brought a 5% gain. Then profit-taking and wider market pressure drove an 18% correction. The flip in momentum shows how fast things can change in meme-coin land. A small tweet or post can send prices soaring, but it only takes a bit of selling to push them down again. ???? Wait, what Trump just dropped a $PEPE pic on Truth Social ???? Is this a secret crypto endorsement or just trolling the internet? Either way the $PEPE rocket might just have a new co-pilot. What’s next a $PEPE rally or a Twitter melt down Stay tuned???? pic.twitter.com/cu8RF7D55b — Josh Mair (@WizzOfCrypto) May 29, 2025 On Drama & Speculation Trump’s message saying he’s “on a mission from God” makes him sound like he has a special purpose, not just a political goal. The dark street scene and the words “nothing can stop what is coming” hint that something big is coming, even if he doesn’t explain it. This kind of talk can fire up his most loyal supporters – especially PEPE aficionados – because it feels dramatic and urgent. Chart Patterns In Focus Based on reports from chart watchers, PEPE appears to be forming a cup-and-handle pattern that began about five months ago. If the coin breaks above the handle, some say it could reach $0.000026—double its current level. Right now, the MACD line sits below the signal line after a recent death cross, hinting at a near-term downtrend. The RSI has dipped toward 52 and may cross below it soon, which could keep sellers in control. The 0.618 Fibonacci retracement level sits at $0.00001 and could act as a bounce point. If that level gives way, traders will look at $0.000008 as the next support. Tariff Ruling Adds Pressure Based on US Court of International Trade filings, the court reversed Trump’s tariff suspensions right around the same time that PEPE spiked. That move seems to have dampened the market’s risk-on mood. For many traders, broader trade news can be a bigger factor than any single tweet. If traders worry about tariffs and slower growth, they often sell off riskier assets like meme coins. That mix of social hype and market worry helped push PEPE down after its brief rally. Looking Ahead For Traders Based on this mix of social buzz and chart signals, it’ll take more than a hint in a post to keep PEPE climbing. If the coin can break above its current resistance by mid-June, $0.000026 seems to be the main target. But a falling MACD and RSI point toward more selling pressure first. Traders should watch the 0.618 level at $0.00001 for signs of a bounce. If that level breaks, they’ll likely aim for $0.000008 next. Related Reading: No Room For Doubt: Analyst’s $900K Bitcoin Forecast Follows Familiar Script Featured image from Inverse, chart from TradingView
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A crypto analyst has predicted that the XRP price could surge to remarkable levels, ranging from $25 to $75, in June. According to the expert, a combination of key bullish factors is expected to drive this significant price rally, potentially marking new all-time highs for the altcoin. In a rather lengthy post on X (formerly Twitter), a crypto analyst known as ‘The Real Redmi Relief’ outlined a series of critical events scheduled for June and July 2025 that will serve as powerful catalysts for driving the XRP price to unprecedented levels between the $25 – $75 range. Catalyst Events Fueling XRP Price Next Surge Firstly, Elon Musk, CEO of SpaceX and Tesla, is expected to roll out X payments, making XRP more useful in real-world terms and driving global adoption—especially if it is included as a digital currency option within the platform. Alongside this, the analyst views the introduction of the “Genius Act” in June as a game-changing regulatory development. This newly proposed bill could bring well-needed clarity for and possibly ease restrictions surrounding digital assets, potentially eliminating adoption barriers for XRP. Related Reading: $10,000 XRP Theory: Factors Analyst Shares Scenarios That Could Drive Growth Another catalytic event that could drive the XRP price toward the analyst’s bullish target is the ongoing US SEC lawsuit, which is expected to reach a critical juncture in June. The resolution or a positive outcome in this case could eliminate years of regulatory uncertainty that previously suppressed XRP’s growth. Looking ahead from June to August, the anticipated approval and launch of XRP Exchange Traded Funds (ETFs) is another key driver. These ETFs would require fund managers to hold large quantities of XRP, creating substantial institutional demand. Given the relatively limited XRP supply available on exchanges, the market expert expects this increased demand to trigger a possible supply squeeze that would intensify upward price pressure. The final catalyst event that would push the altcoin toward $25 – $75 is the ISO 20022 messaging standard. The Real Redmi Relief has revealed that this electronic data exchange framework is set to be implemented in July, potentially pushing XRP more deeply into global payment infrastructures. Market Dynamics And Sentiment To Boost The Altcoin Outlook Beyond upcoming bullish events that could drive XRP’s price higher, the analyst offers a broader perspective on the cryptocurrency’s market dynamics and investor sentiment, which could also contribute to its projected rally. The analyst emphasized that the “delay game,” which previously stalled progress on key developments, including ISO 20022, XRP ETF approval, and SEC regulatory clarity, is now effectively over. Related Reading: XRP Price Surge To $10: Analyst Reveals Factors That Will Make It Happen In 2025 With multiple positive triggers converging around the same time frame, market participants could experience heightened FOMO, especially among institutional investors eager to capitalize on the potential upside. Notably, the analyst warns of possible manipulation practices on exchanges during this expected bullish run. He cautioned that some XRP might be sold off behind the scenes, resulting in withdrawal delays and various account issues. These tactics, as he claims, are part of a recurring pattern seen during past crypto market rallies, where large players accumulate assets at the expense of retail investors. Featured image from Getty Images, chart from Tradingview.com
Elon Musk is officially stepping down from his role in the Trump administration. According to a White House official, Musk’s exit process, known as “off-boarding,” began on Wednesday night. He served as a special government employee with the Department of Government Efficiency (DOGE) for about 130 days. No Formal Goodbye, Sudden Exit Musk didn’t have …
"No deal was signed" said Musk, the xAI CEO, in response to an announcement earlier on Wednesday by Telegram's Pavel Durov
Elon Musk’s latest profile name change on X has sent ripple effects through the crypto market yet again. After swapping his profile to “Kekius Maximus” with a Roman‑style frog avatar, the meme‑inspired token tied to that name shot up by almost 120% in just 24 hours. Based on Binance data, traders saw KEKIUS climb from an average of 0.025 to 0.0502 overnight. Related Reading: Price Down, Bets Up: Dogecoin Open Interest Climbs To $1.62 Billion Musk Sparks Another Frog Coin Surge According to reports, this isn’t the first time Musk’s social‑media tweaks have moved meme coins. Last December, he adopted the same name and a golden‑armored Pepe image. That move drove KEKIUS nearly 500% higher in a single day before prices tumbled back. His followers treat each change like a buy signal. They pile in fast when they see a new profile name. Then many scramble to exit once the hype dies down. ???? is news by the people for the people. Seeking truth, but always self-critical. — Kekius Maximus (@elonmusk) May 15, 2025 Price Jumps 119% In A Day Binance figures show the token’s value leapt 119% within 24 hours of Musk’s latest switch. CoinMarketCap data confirms it hit 0.0502 at the peak, up from about 0.025 just a day earlier. That level is still far below its initial launch price last year. At one point, speculators were paying 0.25 for a single KEKIUS token before the first big crash. History Of Kekius Maximus Name Kekius Maximus blends several things at once. “Kek” started as gamer slang for laughing. It also links back to an Egyptian frog‑headed god of chaos. Maximus echoes the gladiator hero from a famous movie. The token itself runs on both Ethereum and Solana blockchains. Creators say they wanted to mix memes, myth and pop culture. But there’s no big tech behind it—just a playful mashup that reacts to Elon Musk’s mood swings. Risky Ride For Investors Based on reports, this pattern shows just how wild crypto can get when a celebrity is involved. These tokens offer no real product or service. They live or die on hype alone. When the profile name flips back, they often collapse. Traders who jump in at the peak can face heavy losses. Regulators have flagged such pumps as a concern. They warn that celebrity chatter can mask the true risk under the surface. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month A Wider Trend In Meme Tokens Earlier this month, Musk tried a different name—“Gorklon Rust”—and a related coin, GORK, doubled in value. That name combined his AI chatbot’s name with a programming language used by X’s engineers. Again, traders treated it like an open invitation. GORK saw a 100% spike in 24 hours. But it then gave most of that back when the novelty wore off. What To Watch Next Investors who follow these moves need to stay alert. Such jumps can happen without warning, and they can reverse just as fast. Some see them as short‑term bets, almost like casino plays. Others treat them as entertainment. Either way, it’s clear that Musk’s profile choices remain a powerful crypto driver. And for many tokens, that power can vanish as quickly as it appears. Featured image from Gemini Imagen, chart from TradingView
The “mog/acc” is quickly gaining ground among everyone from Elon Musk to Garry Tan, a move that bumps the project’s visibility - and eventually prices.
OpenAI has announced a significant pivot, walking back previous plans to evolve into a traditional for-profit entity, according to a May 5 statement. Instead, the organization will maintain its nonprofit roots and shift its for-profit unit into a Public Benefit Corporation (PBC), reinforcing its commitment to public interest in developing artificial general intelligence (AGI). According […]
The post OpenAI focuses on its nonprofit control amid legal clash with Elon Musk appeared first on CryptoSlate.
The figure surpasses Elon Musk's stated threshold of 50% for Tesla to resume allowing bitcoin payments, though it is yet to do so.
Tesla does not seem to have sold any digital assets in the last quarter.
Dogecoin enthusiasts around the globe commemorated today as “Dogeday,” an increasingly popular annual tradition that highlights the meme cryptocurrency’s passionate fan base. Celebrated on April 20, this marks the fourth year of expansion for what was initially an online joke turned eighth-largest cryptocurrency by market cap. Related Reading: Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip Community Spirit Fuels $23 Billion Market Cap What started as a joke project in 2013 has become a serious money player with a market capitalization of about $23.3 billion, based on Coingecko data. Analysts attribute the success of Dogecoin to its robust community. “Bitcoin or Ethereum is capped supply, while inflation in Dogecoin helps small investors carry big bags,” stated Anndy Lian, a blockchain advisor. The coin introduces around 5 billion new coins annually, maintaining entry fees low for newcomers. This strategy has created a devoted fan base that shows up in large numbers for the annual April 20th celebration, which initially caught on in 2021 by aligning itself with International Weed Day. Today is the 4th anniverary of #DogeDay???? @dogecoin Our beloved OG meme are adored by millions for its grassroots fun and crypto flaire! Which Doge moment below lit your heart?#BitgetDogeDay pic.twitter.com/kfGfx93Dyn — Bitget (@bitgetglobal) April 20, 2025 ETF Decisions May Alter Dogecoin’s Destiny Some of the large financial institutions are presently waiting for decisions surrounding the Dogecoin ETF proposals, which could bring this cryptocurrency further into the limelight for mainstream investors. According to the sources that are privy to the development, applications are presently under consideration by the U.S. Securities and Exchange Commission (SEC) for Bitwise, Grayscale, 21Shares, and Osprey Funds among others. The initial approvals may arrive as early as May 18 for Bitwise, then Grayscale’s deadline on May 21. But the SEC can delay final decisions until October. With approval, those ETFs would enable institutional investors such as pension funds and banks to invest in Dogecoin through standard stock exchanges, potentially injecting massive new money into the space. Musk’s Endorsement Keeps Fuelling Popularity Elon Musk’s continued support has been essential to Dogecoin’s sustained popularity in the saturated cryptocurrency market. The entrepreneur behind Tesla and SpaceX has continually referred to Dogecoin as “the people’s crypto,” with his social media posts frequently causing price spikes. Related Reading: Today’s $1K XRP Bag May Become Tomorrow’s Jackpot, Crypto Founder Says Long-term Sustainability In Doubt Despite Cultural Following Not all join the enthusiasm in the community. Critics note that in contrast with Bitcoin or Ethereum, Dogecoin has no technical features such as smart contracts and staking. Its popularity relies on the hype on social media and popularity from celebrities over technological advancements. In spite of all this, hashtags such as #Dogeday2025 and #DogecoinToTheMoon were being used on X. People posted memes of the Shiba Inu mascot in space suits, jokes pertaining to future riches, and videos commemorating the longevity of the cryptocurrency in a risky market. Featured image from Gemini Imagen, chart from TradingView
A coalition of US lawmakers led by Senator Elizabeth Warren has introduced a new ethics reform bill targeting Special Government Employees (SGEs) like Elon Musk and White House crypto advisor David Sacks. The proposal, titled the Special Government Employee Ethics Enforcement and Reform (SEER) Act, seeks to apply stricter transparency and accountability standards to individuals […]
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OpenAI has filed a countersuit against Elon Musk, accusing the billionaire of leading a deliberate campaign to undermine the organization. The legal filing, submitted on April 9, claimed that Musk’s actions allegedly included a fake takeover bid and coordinated efforts to damage the AI firm’s reputation. According to OpenAI, these attacks intensified after ChatGPT’s massive success. The […]
The post OpenAI countersues Elon Musk over alleged sabotage campaign appeared first on CryptoSlate.
Why are people protesting against Elon Musk? Elon Musk, once celebrated as a tech visionary behind Tesla and SpaceX, has faced growing backlash due to his political ties, controversial corporate decisions and provocative public statements.Born in 1971 in Pretoria, South Africa, Elon Musk co-founded Zip2 in 1995, which was sold to Compaq in 1999. He then launched X.com, which merged with Confinity to form PayPal, acquired by eBay in 2002. His later ventures, SpaceX (2002) and Tesla (2004), solidified his status as a leading innovator in aerospace and electric vehicles. In 2022, Musk acquired Twitter for $44 billion and later rebranded the platform as X, integrating it into his broader vision for an “everything app.”Initially celebrated for his technological contributions, Musk’s public image began to shift in the late 2010s for several reasons:Political involvement: Musk’s association with conservative politics, notably his support for US President Donald Trump and his role as head of the Department of Government Efficiency (DOGE), drew criticism. His advocacy for significant federal spending cuts and program eliminations fueled discontent.Corporate practices: Decisions like relocating Tesla’s headquarters from California to Texas and implementing controversial labor practices contributed to negative perceptions. These actions were seen as prioritizing profit over employee welfare and regulatory compliance.Public statements: Musk’s public communications, especially on social media, often sparked controversy. Critics accused him of spreading misinformation and promoting conspiracy theories, which eroded trust among certain groups.Did you know? Despite popular narratives of Elon Musk as a self-made entrepreneur, he came from a wealthy South African family. His father, Errol Musk, is suspected of owning an emerald mine in Zambia, and Elon has acknowledged receiving financial support from his family during his early ventures. Anti-Elon Musk protests in 2025 By 2025, the aforementioned factors culminated in widespread protests targeting Musk and his business interests. The demonstrations were driven by core grievances:Wealth disparity: Musk’s net worth, which reached $400 billion in December 2024, had declined to $298 billion by April 2025 due to stock market fluctuations and political controversies. His accumulation of wealth highlighted growing economic inequalities, with protesters viewing it as emblematic of systemic issues favoring the ultra-wealthy.Political influence: Musk’s significant political engagement, particularly his advisory role to Trump and influence over DOGE policies, has raised concerns about the concentration of power among wealthy elites. Critics feared this influence undermined democratic processes and prioritized corporate interests over public welfare.Corporate practices: Actions such as aggressive cost-cutting measures, perceived labor exploitation and controversial business decisions led to dissatisfaction among employees and consumers. The “Tesla Takedown” movement, for example, targeted Tesla showrooms, criticizing Musk’s leadership and corporate strategies.Social and environmental concerns: Musk’s business decisions were also scrutinized for their social and environmental impact. Protesters questioned Tesla’s labor practices and the environmental implications of some of his ventures, calling for more ethical and sustainable corporate behaviors.Did you know? A March 2025 Brookings op-ed called DOGE’s naming choice a “branding blunder,” while a CNN/ORC poll found 62% of respondents viewed it as “inappropriate” for a government agency and 44% felt it damaged confidence in the administration’s reform efforts. Tesla protest events in 2025 The “Tesla Takedown” movement, with demonstrations in over 250 cities worldwide, aimed to challenge Musk’s influence. Originating in early 2025, this grassroots initiative organized nonviolent protests at Tesla locations across the US, Canada, Europe and Australia.Protesters called for boycotts and urged the public to divest from Tesla by selling their vehicles and shares, intending to economically impact Musk and question his political influence.Two key factors fueled the protests:Labor practices: Tesla faced allegations of labor rights violations, including reports of employees being fired for expressing dissenting opinions. The National Labor Relations Board had 24 open investigations into Musk’s companies, including allegations of illegal firings at SpaceX.Environmental concerns: Protesters criticized Tesla’s environmental record, highlighting issues such as alleged negligence in the installation and maintenance of solar panels, which led to roof fires at Walmart stores. Walmart filed a multimillion-dollar lawsuit against Tesla, claiming negligent installation and maintenance of solar panels caused roof fires at seven Walmart stores dating back to 2012.Declining sales figures underscored consumer discontent. In the first quarter of 2025, Tesla’s global vehicle deliveries dropped 13% year-over-year to 336,681 units, marking the company’s lowest quarterly performance since mid-2022.Did you know? While intended to be peaceful, some protests escalated into acts of vandalism. For example, on March 24, 2025, incendiary devices were discovered at a Tesla dealership in Austin, Texas. SpaceX controversy 2025 SpaceX’s activities also attracted scrutiny, particularly regarding safety and regulatory compliance. The 2025 Starship explosion served as a stark reminder of the risks associated with private space exploration. The largest and most powerful rocket ever built disintegrated minutes after liftoff, scattering debris across protected areas and reigniting debates about safety, environmental responsibility and regulatory oversight in the private spaceflight industry.Musk’s political involvement further complicated matters. Serving as the head of DOGE, he oversaw significant federal spending cuts and deregulation efforts. This role led to conflicts of interest, especially concerning agencies that regulate his businesses. For example, SpaceX faced fines from the Federal Aviation Administration for safety violations, including operating an unapproved launch control room and using non-approved rocket fuel, totaling $633,009. What does the future hold for Elon Musk amid growing backlash? Musk’s entanglement in political affairs, particularly his advisory role to President Trump and leadership of DOGE, has led to significant public disapproval. A February 2025 poll indicated that 52% of Americans held an unfavorable view of Musk, with only 29% expressing approval.In response to the mounting criticism, reports suggest that Musk is considering stepping back from his governmental advisory role to focus on his business ventures. Such a move could be aimed at mitigating public perception that his political activities are adversely affecting Tesla’s performance.However, given Musk’s history of unconventional decisions and resilience, it’s uncertain whether distancing himself from politics will fully quell public dissent or restore consumer confidence in Tesla.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Chun Wang became the first known bitcoiner to launch into Earth's orbit late Monday onboard the SpaceX Fram2 mission he funded.
D.O.G.E. job cuts, tariffs, a restrictive Fed and new immigration policies could weigh on markets for the next six to nine months, said Lekker Capital's Quinn Thompson.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The official site even sported a dogecoin logo for a few hours on the day after Trump’s inauguration, giving more credence to rumors of inclusion.
Dogecoin's price, which surged when the department was announced, fell 3.2% over the past 24 hours at the time of writing.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Trump admin officials have crafted a proposal to rebrand USAID and leverage blockchain technology for a more transparent procurement process.
The vehicle, which was created in September of last year, aims to raise $30 billion in funding.
What caused the X outage? On March 10, 2025, X’s services went down for many users, causing frustration and confusion across the platform. The outages were significant enough to make headlines and draw attention from the tech community and the media. Elon Musk, ever the outspoken owner, quickly attributed the disruptions to a “massive cyberattack.”While the initial response was that the attack might have originated from a coordinated group or even a nation-state, Musk’s comments pointed to Ukrainian IP addresses as the suspected source. However, he later clarified that the evidence was not definitive.Also, several cybersecurity experts emphasized that attributing the source of such attacks based solely on IP addresses is unreliable, as attackers often use compromised devices worldwide to mask their actual location. So, what was the cause of X’s disruption? It was a large-scale, distributed denial of service (DDoS) attack. Such attacks involve overwhelming a server with so much traffic that it cannot serve legitimate requests, effectively bringing down the platform. This attack is a common method for cybercriminals to take down websites and was the primary factor behind X’s downtime. The technical side: How the DDoS attack impacted X DDoS attacks are no small feat. These attacks flood the target’s servers with excessive traffic, rendering them unable to function correctly. It’s a strategy designed to exhaust a system’s resources and make it impossible for genuine users to access the service. Experts pointed out that the attack on X was massive and well-coordinated, taking down parts of the platform for hours.Here’s a timeline of the events on March 10:Early morning (Eastern Time): Users began reporting issues accessing X, with over 21,000 reports in the US and 10,800 in the UK. 9:30 am ET: A second wave of outages occurred, with about 40,000 users reporting disruptions. This outage persisted into the afternoon.Throughout the day: Users continued to experience intermittent access issues, with reports peaking during critical periods such as the start of National Football League free agency.Evening: By 6:24 pm ET, the number of reported issues decreased significantly to 403 in the US and 200 in the UK, indicating that the platform was stabilizing.Security experts noted that some of X’s origin servers had not been adequately protected behind Cloudflare’s DDoS defense systems. This created a vulnerability that cyber attackers could exploit, contributing to the success of the attack.Did any individual or group claim responsibility?Yes, in the aftermath of the attack, a pro-Palestinian hacker group known as Dark Storm Team claimed responsibility. This group has been active since late 2023 and is known for targeting organizations and governments perceived to support Israel. Their tactics often involve DDoS attacks to disrupt services and draw attention to their political motives. While X took quick action to shore up these weaknesses, this incident served as a reminder that even the most prominent platforms are not immune to cyber threats if their security infrastructure isn’t up to the task.Did you know? Cloudflare is renowned for its robust DDoS protection, having previously defended against some of the largest recorded attacks, including a 5.6 terabit per second assault in October 2024. From fail whale to Musk’s era: Major X outages in history Over the years, the platform has faced several high-profile outages caused by cyberattacks, internal errors and technical limitations.In its early days, X (then Twitter) was notorious for frequent crashes, often displaying the now-iconic “fail whale” image to users. These outages were primarily due to the platform’s struggle to handle surges in traffic, particularly during major global events like elections, award shows and sports finals.“Fail Whale” was Twitter’s old error message, showing a cartoon whale being lifted by birds. It appeared when Twitter was overloaded or crashed. It became a symbol of Twitter’s frequent outages, especially in its early days.Notable incidents from Fail Whale to Musk’s X era include:2016 Dyn DDoS attack: One of the most severe outages in X’s history occurred during the Dyn cyberattack in October 2016. This massive DDoS attack targeted a key internet infrastructure provider, taking down major websites, including X, Reddit and Spotify. The incident underscored the risks of centralized internet infrastructure.2020 API failures: In October 2020, a widespread outage due to internal system changes led to API failures. While not a cyberattack, the event demonstrated how a misconfiguration could bring down the platform for hours.2022 takeover disruptions: Following Elon Musk’s acquisition in late 2022, several outages occurred due to mass layoffs affecting critical engineering teams. Reduced staffing raised concerns about the platform’s ability to maintain reliability.2023 rate limit issues: In July 2023, X imposed strict rate limits on users due to excessive data scraping. This decision led to widespread service disruptions, with many users unable to load tweets.Did you know? The US Treasury is being sued for allegedly giving Elon Musk’s Department of Government Efficiency (DOGE) access to millions of Americans’ sensitive financial and personal data. The lawsuit, filed by the AFL-CIO, claims this access violates federal laws and raises significant privacy concerns. Lawmakers, including Senator Elizabeth Warren, have warned that Musk’s involvement could lead to unprecedented data misuse. The growing importance of social media security The X outage highlights the growing concern about social media security in today’s digital world. Platforms like X, Meta and Instagram have become crucial communication channels for individuals, businesses, governments and activists. Even X has become a hub for the crypto community, serving as a central platform for discussions, updates, and networking within the industry. However, these platforms are increasingly under threat from cyberattacks, misinformation campaigns and data breaches.Here are some key areas where social media security is essential:Protecting user data: With millions of users actively posting, messaging and storing sensitive data, social media platforms are prime targets for hackers. Personal information, including emails, phone numbers and even financial data, can be compromised if security measures are weak.Enhancing user authentication: Stronger authentication methods, such as multifactor authentication (MFA), biometric logins and encrypted messaging, can reduce the risk of unauthorized access. Users should be encouraged to enable MFA to add an extra layer of security to their accounts.Fighting disinformation and fake accounts: Cyberattacks aren’t always about taking down a platform; sometimes, they aim to manipulate public perception. Fake accounts, bots and misinformation campaigns can create chaos, influence elections and spread propaganda. Social media companies must use advanced AI tools to proactively detect and remove such threats.Preventing DDoS and cyberattacks: As seen in the case of X, DDoS attacks can cripple a platform. While companies invest heavily in cybersecurity, hackers continue to evolve their tactics. This calls for constant vigilance and AI-driven security systems to detect and mitigate threats in real-time.Regular security audits and updates: Cybersecurity is an ongoing process. Social media companies must conduct regular security audits to identify and patch vulnerabilities before attackers can exploit them. Keeping systems updated ensures that the latest security measures are in place.Finally, as you continue to integrate social media into various aspects of your lives, prioritizing security will ensure that these platforms remain trusted and reliable channels for communication and engagement.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
"I think X should ban all bots. I only want to interact with humans here," the Binance founder and former CEO said.