Social media firm X Corp was ordered by a federal judge to disclose the names of its investors. This has become a major topic of discussion on the platform.
Elon Musk and His Crypto Backers
The order requesting Musk to reveal the names of his X backers came during a lawsuit brought by former employees. These ex-workers demand payment of arbitration fees incurred following the acquisition of the social media platform. Previously, Musk stated that revealing investors’ names is a violation of **“routine practice and policy.”** However, the federal judge insisted on unveiling the list. The top investors include Binance, X founder Jack Dorsey, Fidelity, Sequioa, Saudi Prince Alwaleed, Bill Ackman, Sean **“Diddy”** Combs, and several others. Since their investment in the platform, Elon Musk has expanded the company, obtaining licenses for X Payments in various states to evolve into the **“Everything App.”**
Backlash for Censorship
X is facing threats of bans from certain regions over censorship issues. Earlier this week, Sandro Gozi, an Italian elected as an MEP in France, threatened to shut down X in Europe over non-compliance with regional rules. Gozi shared his concerns in an interview with La Repubblica about the censorship permissions of the free speech platform. Meanwhile, in Brazil, the social media platform shut down operations a few days earlier over similar censorship challenges. In X’s defense, it claimed that Brazilian Supreme Court Justice Alexandre de Moraes threatened to detain one of the company’s representatives if the platform did not comply with orders to remove certain content.
Conclusion
The disclosure of X Corp's investor names marks a significant moment in the company's history. This event has sparked numerous discussions and raised questions about the social network's censorship practices. The outcome of these developments remains to be seen.
The disclosure of X Corp's investor names marks a significant moment in the company's history. This event has sparked numerous discussions and raised questions about the social network's censorship practices. The outcome of these developments remains to be seen.
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