Meta CEO Mark Zuckerberg’s change of heart about free speech isn’t what it seems.
On January 7th, the founder of Facebook announced that his company intends to return to its original focus on freedom of speech by ceasing fact-checking from external sources within the U.S., and removing limitations on what can be said.
In just a few days, it was evident that Mark Zuckerberg’s stance on free speech didn’t extend to decentralized social media alternatives such as Pixelfed and Mastodon. When Facebook users attempted to share links to these sites, they received “spam” alerts and their posts were promptly removed.
This week’s Crypto Biz delves into Meta’s ambiguous stance on free expression, questioning Mark Zuckerberg’s authenticity in returning to his original principles – or if he’s merely maneuvering politically with the approaching Trump administration.
The newsletter delves into several topics including Tether’s contentious lawsuit against Swan Bitcoin, the growing influence of institutional cryptocurrency, and the potential prohibition of TikTok within the United States.
Meta blocks decentralized competitors
It appears that Meta’s dedication to free speech does not include links to alternative decentralized social media platforms like Pixelfed and Mastodon. As per a report by 404 Media, Facebook has been actively deleting such links to Instagram rival Pixelfed and the open-source networking service, Mastodon.
Disgruntled users took to Bluesky to complain about their posts being deleted.
AJ Sadauskas, a Bluesky user, mentioned that Facebook no longer permits users to share links to Pixelfed. According to her, her own post on the platform was swiftly removed by Facebook.
A different user on Bluesky, Johan Vandevelde, shared that a similar situation occurred for him after he connected with Mastodon. He mentioned, “My post was swiftly taken down, too, due to ‘spam’.
The omissions were found just a few days following Meta’s announcement of a press release that promised “more freedom of expression and less errors,” which encompassed discontinuing third-party fact-checkers within the U.S. Instead, one could phrase it as: The mistakes were spotted shortly after Meta announced its intention to promote more speech with fewer blunders, a plan that also involved phasing out American third-party fact-checkers.
It’s yet unclear if Zuckerberg truly values free speech or if he’s attempting to placate the incoming President-elect Donald Trump, who has expressed intentions of imprisoning the Meta CEO in the past.
Tether sues Swan Bitcoin over joint venture dispute
Tether, a company responsible for stablecoins, has filed a lawsuit against Swan Bitcoin over “major violations” of their partnership contract.
The lawsuit was confirmed by Tether, which issued the following statement to CryptoMoon:
“Throughout our relationship with Swan, Tether has consistently acted in good faith, supported mutual business objectives, and adhered to all relevant agreements. Conversely, Swan has acted recklessly, and their actions have resulted in significant breaches by them of the agreements between us.”
The legal dispute originates from a shared energy mining project known as 2040 Energy, which was established by Tether and Swan in the year 2022. Subsequently, Swan alleged that some ex-employees had stolen confidential information, using it as part of a destructive campaign they referred to as “rain and hellfire.”
In August, Swan CEO Cory Klippsten was removed from his leadership role at 2040 Energy.
As a researcher, I’d like to clarify that Tether has refuted any allegations of misconduct, asserting instead that they have adhered strictly to their contractual obligations within the framework of the joint venture agreement.
Crypto drives 25% of revenue at Boerse Stuttgart
Digital asset trading has proven to be a profitable venture for the German stock exchange, Boerse Stuttgart, as they’ve seen a substantial increase in revenue due to their cryptocurrency-related services.
Based on a report from Barron’s dated January 15th, Boerse’s cryptocurrency trading volumes increased threefold last year, making up an impressive 25% of the company’s total earnings. By the end of 2024, clients are estimated to have invested about 4.3 billion euros ($4.4 billion) in digital assets with Boerse.
As an analyst, I’m expressing my own enthusiasm towards cryptocurrencies, echoing the sentiments of Boerse Stuttgart CEO Matthias Voelkel. He believes that this emerging asset class will witness increasing popularity due to several factors, with Bitcoin’s limited supply and burgeoning demand being key drivers of optimism in this space.
Despite the enthusiasm towards cryptocurrencies under a potential crypto-friendly U.S. government, Voelkel noted that Europe is equally alluring as a promising location for digital asset enterprises.
“The market in Europe is benefiting from a positive dynamic,” Voelkel reportedly said.
Will China sell TikTok to Elon Musk?
Due to worries that TikTok might be banned soon in the U.S., Chinese authorities are contemplating alternative strategies to ensure the video-sharing app remains functional within the nation.
If required to close its operations in China, TikTok’s U.S. division might potentially be purchased by Elon Musk, according to Bloomberg’s report. ByteDance, TikTok’s parent company, continues its legal efforts to avoid the ban, but the incoming Trump administration is perceived as an unpredictable factor in this situation.
2024 saw the passage of bipartisan legislation that requires TikTok to be completely banned in the country if ByteDance, its owner, does not sell the platform. Lawmakers argue that ByteDance’s connections to China pose a potential threat to national security, particularly if user data is disclosed to the Chinese government.
Bloomberg said TikTok’s US operations could be valued at up to $50 billion.
In his opinion, Musk stated that banning TikTok goes against the principles of free speech and expression.
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2025-01-18 00:03