Social Media Financial News

In one of the weirder moments of my writing career, Carl “The Moon” Runefelt contacted me out of the blue seeking an “update to old information” in a May 2022 article. The article had touched on his involvement with the crypto payment platform Kasta, but Runefelt felt a pressing need a year later to get the copy changed to highlight the fact he was “not the co-founder of Kasta, only [an] investor.”

Social media giant X, still reffered to many as Twitter, has obtained the regulatory green light to introduce cryptocurrency payments for its users. X's intent to integrate crypto solutions into its platform are well known, and the company is well-equipped to advance its goals thanks to an eToro partnership that was announced in April.

Crypto’s newest decentralized social media (DeSo) app friend.tech has been met with intense criticism over a decision to punish users who opt in to forks or copycat versions of its tokenized social media platform. 

The parent of Hit Network, which controls the “BitBoy Crypto" brand, has cut ties with its public face, Ben Armstrong, citing issues surrounding substance abuse and financial damage to employees.

Less than three weeks after its launch, the decentralized social network Friend.tech has already been declared "dead" by critics,  following a recent drop in key metrics such as activity, inflows and volume.

Despite the recent hype around riend.tech, some decentralized social networks are still having a tough time getting users to sign up and stay on their social media platforms.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Jordan Peterson, upholding a regulatory body’s order that he undergo social media training.Last November, Peterson, who is also an author and media commentator, was ordered by the College of Psychologists of Ontario to undergo a coaching program on professionalism in public statements.That followed numerous complaints to the governing body of Ontario psychologists, of which Peterson is a member, regarding his online commentary directed at politicians, a plus-sized model and transgender actor Elliot Page, among other issues.The college’s complaints committee concluded his controversial public statements could amount to professional misconduct and ordered the social media coaching program _ failure to comply could mean the loss of his licence to practice psychology in the province.Peterson filed for a judicial review, arguing his political commentary is not under the college’s purview.The Ontario Divisional Court has dismissed Peterson’s application, ruling that the college’s decision falls within its mandate to regulate the profession in the public interest and does not affect his freedom of expression.Peterson, a retired University of Toronto psychology professor, rose to prominence through his polarizing YouTube videos critiquing liberal culture and his successful self-help book, 12 Rules for Life: An Antidote to Chaos.

The team behind the viral decentralized social media platform friend.tech has refuted a report which claimed that the personal information of more than 100,000 of its users was “leaked.” 

Friend.tech, a new decentralized social media (DeSo) app has rapidly become one of the hottest new things in crypto, with over 64,000 new users and more than 24,000 ETH in trading volume since its beta version launch of Aug. 11. 

Friend.tech, a recently released decentralized social (DeSo) network, has generated over $1 million in fees in 24 hours on Aug. 19, outperforming established players in the crypto ecosystem, including Uniswap and Bitcoin networks.

X owner Elon Musk revealed in an Aug. 18 post on the social media site formerly known as Twitter that he intends to delete the block feature for users on the app.

Ethereum co-founder Vitalik Buterin has offered an analysis of the Community Notes tool from X — formerly Twitter — comparing the feature to an example of “crypto values” on social media. 

Moon and Brick, two tokens created by users of social media platform Reddit, are up 48% and 443%, respectively, in the past week after being listed on cryptocurrency exchange Kraken.

A Bitcoin advocate based in Canada has “Zapped” 600 people a total of 300 Satoshis ($0.09 or 0.000003 BTC) each in a Bitcoin-inspired (BTC) social media experiment. 

Elon Musk stated that his social media company X (formerly Twitter) will fund the legal bills of any user that was treated unfairly by their employer for engaging with content on the platform.

Generation Z crypto investors are more likely to engage in copy trading or social trading, an investment method that involves mirroring someone else's trades, according to a report from crypto exchange Bitget.

Agence France-Presse (AFP) announced a lawsuit against X, the company formerly known as Twitter, on Aug. 2, citing Europe’s “neighboring rights” legislation.

Crypto-spouting Twitter bots could be playing a much larger role in artificially inflating the price of altcoins than previously understood, a new study has suggested.

The launch of memecoin Pond0x (PNDX) has led to millions of dollars in losses for investors, according to multiple reports on social media on July 28. Data from the Maestrobots trading app shows that the token reached a price of $0.36 before collapsing to near zero in a span of five minutes.

Tech entrepreneur Elon Musk’s Twitter (rebranded to X) added contributors from 18 new countries to ensure the accuracy of the information being shared on the platform. As a result, Community Notes — the information watchdog on X — now has contributors from 44 countries in total.