The EU steps up its offensive against major digital platforms

Source: CritpoTendencia
Original Title: The EU steps up its crackdown on major digital platforms
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European regulators imposed a fine of 120 million euros on X after concluding that the platform failed to comply with the obligations of the Digital Services Act [image]DSA(.

The investigation, which lasted for two years, determined that the company did not act sufficiently to curb the spread of illegal and harmful content.

The report also questions the blue check verification system implemented under Elon Musk’s leadership, calling it misleading as it makes it harder for users to identify the authenticity of accounts. According to regulators, this model deviated from industry standards and impacted transparency.

The penalty is part of a broader EU crackdown on major digital platforms. TikTok reportedly avoided a similar fine after agreeing to adjustments imposed by Brussels.

Meta considers major cuts in the metaverse, and analysts foresee a boost for the stock

Meta’s possible plan to significantly reduce its investment in the metaverse could become one of the company’s biggest strategic shifts since its rebranding in 2021. Mizuho analysts note that a reduction of up to 30% in Reality Labs )the division responsible for virtual and mixed reality devices( would immediately strengthen the group’s profitability.

The team led by Lloyd Walmsley described Reality Labs as an “$80 billion black hole” in accumulated losses and estimated that the cuts could add around $2 per share to projected earnings for 2026.

Mizuho reiterated its Outperform recommendation with a price target of $815, and an optimistic scenario reaching $1,245 thanks to accelerated growth from AI. This would imply an increase of over 21% from the current price of $672.

Do Kwon pleads guilty in the United States to fraud linked to the Terra collapse

Do Kwon, the controversial founder of the failed Terra ecosystem, pleaded guilty in a New York court in the criminal proceedings he faces in the United States. The entrepreneur, who initially denied the nine charges brought against him )including securities fraud, wire fraud, and conspiracy to launder money( changed his stance after a special hearing was convened.

Ultimately, Kwon admitted responsibility for two crimes: conspiracy to defraud and wire fraud. His project collapsed in 2022, creating a roughly $40 billion hole in the crypto market and causing significant losses for thousands of investors.

The guilty plea marks a key turning point in one of the biggest scandals to shake the cryptocurrency industry.

Strategy creates a $1.44 billion reserve to bolster confidence amid Bitcoin slump

Strategy announced the creation of a $1.44 billion reserve, funded by selling shares, with the goal of shielding itself from the volatility of the crypto market. CEO Phong Le explained that the measure aims to reassure investors in a moment of downward pressure on Bitcoin.

“We are a key piece of the crypto ecosystem. That’s why we started raising capital and adding dollars to our balance sheet, to dispel fear, uncertainty, and doubt,” said Le.