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🇧🇷Brazil lifts ban on Musk's X after it pays $5m fine
Brazil's Supreme Court has said it is lifting a ban on the social media platform X, formerly known as Twitter.
In his decision, Justice Alexandre de Moraes said that he authorised the "immediate return" of X's activities in the country after it paid hefty fines and blocked accounts accused of spreading misinformation.
🇧🇷Brazil lifts ban on Musk's X after it pays $5m fine
Brazil's Supreme Court has said it is lifting a ban on the social media platform X, formerly known as Twitter.
In his decision, Justice Alexandre de Moraes said that he authorised the "immediate return" of X's activities in the country after it paid hefty fines and blocked accounts accused of spreading misinformation.
The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. Pavel Durov, Telegram's CEO, is known as "the Russian Mark Zuckerberg," for co-founding VKontakte, which is Russian for "in touch," a Facebook imitator that became the country's most popular social networking site. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred." Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government.
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