Elon

• Australia’s eSafety Commissioner, Julie Grant, has found X (formerly Twitter) guilty of serious non-compliance to a transparency notice on child sex abuse material.
• The commissioner has issued X with an infringement notice for A$610,500.
• The commissioner first issued transparency notices to Google, X (then Twitter), Twitch, TikTok and Discord in February under the Online Safety Act 2021.

How severe is the issue?

• It was the first quantitative analysis of child sex abuse material on the public sites of the most popular social media platforms.
• The researchers’ findings highlighted Instagram and X (then Twitter) are particularly prolific platforms for advertising the sale of self-generated child sex abuse material.
• As for X, they found the platform even allowed the public posting of known, automatically identifiable child sex abuse material.

Why does X have this content?

• All major platforms - including X - have policies that ban child sex abuse material from their public services.
• Most sites also explicitly prohibit related activities such as posting this content in private chats, and the sexualisation or grooming of children.
• They should scrutinise content shared voluntarily by minors, and ideally should also weed out any AI-generated child sex abuse material.

Does the fine go far enough?

• For instance, last year US federal regulators imposed a US$150 million (A$236.3 million) fine on X to settle claims it had misleadingly used email addresses and phone numbers for targeting advertising.
• This year, Ireland’s privacy regulator slapped Meta, Facebook’s parent company, with a €1.2 billion (almost A$2 billion) fine for mishandling user information.
• The latest fine of A$610,500, though small in comparison, is a blow to X’s reputation given its declining revenue and dwindling advertiser trust due to poor content moderation and the reinstating of banned accounts.

What happens now?

• If it doesn’t, eSafety can initiate civil penalty proceedings and bring it to court.
• Depending on the court’s decision, the cumulative fine could escalate to A$780,000 per day, retroactive to the initial non-compliance in March.
• To get out, it’ll need to make a 180-degree turn on its approach to moderating content – especially that which harms and exploits minors.

• Nearly a year under the new ownership, HTX has successfully integrated 'X' into its revamped brand strategy, signaling the start of a new global chapter.
• Being a well-known exchange in the industry, HTX is undoubtedly a valuable asset that has withstood the test of time.
• Over a decade, HTX experienced significant transformations, from dominating the global Bitcoin trading market share to setting up offshore companies.
• With this rebranding, HTX is once again embarking on a journey of globalization, with HTX as its global brand.

• Wall Street Memes has among the largest meme coin communities with more than one million followers across all socials.
• Certainly, that's a solid milestone, but consider the fact that Wall Street Memes is launching with one million followers already in hand.
• After OKX there will be more exchanges listing $WSM, so the bullish price pressure will gain momentum over the coming period.
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  Crypto analysts on YouTube have had Wall Street Memes in their sights for some time.

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• After staking and tier 1 CEX listings, what mystery product launches is Wall Street Memes planning?
• Crypto watchers should not make the mistake of writing off Wall Street Memes as just another low-utility meme coin in search of a viral following.
• Wall Street Memes coin is the brainchild of the team behind the one million-strong social Wall Street Memes community that grew out of the meme stocks movement.