Twitter Will Add Warning Label to Tweets it Deems ‘Viral Misinformation’

Twitter recently announced its new “crisis misinformation policy” which will seek to suppress posts the company deems “viral misinformation.” The update will allow Twitter employees to label, and censor posts they determine to be misleading or false. The company claimed that the new tools will only be used in the case of a “humanitarian crisis.”

“Today, we’re introducing our crisis misinformation policy – a global policy that will guide our efforts to elevate credible, authoritative information, and will help to ensure viral misinformation isn’t amplified or recommended by us during crises,” Twitter wrote in a blog post Thursday. “In times of crisis, misleading information can undermine public trust and cause further harm to already vulnerable communities.”

Twitter went on to define such crises as “situations in which there is a widespread threat to life, physical safety, health, or basic subsistence.”“This definition is consistent with the United Nations’ definition of a humanitarian crisis and other humanitarian assessments,” the company added.Hoax tweets and other misinformation regularly go viral during emergencies, as users rush to share unverified information. The sheer speed of events makes it difficult to implement normal verification or fact-checking systems, creating a significant challenge for moderators.

As part of its new “misinformation policy”, Twitter will employ a variety of tools, including the removal tweets from recommendations and disabling engagement on “misleading” posts. In addition to a label, users will not be able to like, retweet or reply to flagged tweets.“To reduce potential harm, as soon as we have evidence that a claim may be misleading, we won’t amplify or recommend content that is covered by this policy across Twitter – including in the Home timeline, Search, and Explore,” Twitter explained.

“In addition, we will prioritize adding warning notices to highly visible Tweets and Tweets from high profile accounts, such as state-affiliated media accounts, verified, official government accounts.”Under the new policy, tweets classified as misinformation will not necessarily be deleted or banned; instead, Twitter will add a warning label requiring users to click a button before the tweet can be displayed (similar to the existing labels for explicit imagery).

The tweets will also be blocked from algorithmic promotion.The stronger standards are meant to be limited to specific events. Twitter will initially apply the policy to content concerning the ongoing Russian invasion of Ukraine, but the company expects to apply the rules to all emerging crises going forward.

For the purposes of the policy, crisis is defined as “situations in which there is a widespread threat to life, physical safety, health, or basic subsistence.”The policy comes at a delicate time for Twitter, with the company’s approved sale to Elon Musk in a confusing limbo.

Musk has pledged to scale back moderation systems at the company in favor of a maximalist view of free speech. But with Musk claiming the deal is on hold pending a bot investigation, it’s unclear when or how his ideas will be implemented.The social media giant infamously flagged the New York Post’s bombshell Hunter Biden laptop story just weeks before the election.In order to suppress the story — which included emails, text messages, photos and financial documents detailing foreign business dealings of the Biden family — Twitter cited its “hacked materials” policy. This policy, like many sections of Twitter’s terms of service, has been applied selectively on numerous occasions.

In a recent example, an illegally obtained list of donations to Canada’s Freedom Convoy protesters was allowed to be freely shared on the platform. The list included names, addresses and phone numbers of anyone who donated as little as $25 to the protest movement. Despite the fact that the information was obtained through a hack, Twitter took no action.Many believe Twitter’s “crisis misinformation policy” will be yet another policy that is selectively applied to conservatives.

This would give the San Francisco-based platform even more power to meddle in election outcomes, as they did in 2020. A poll conducted by The Post Millennial this past March found that 16% of Biden voters would not have voted for him if they were aware of the laptop scandal.

Source: Twitter Will Add Warning Label to Tweets it Deems ‘Viral Misinformation’

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Twitter Stock: Elon Musk Could Be The Saviour It Needs Right Now

The billionaire investor and CEO of Tesla announced an offer of $54.20 for Twitter stock, which he later called his “best and final” bid for the company.

Musk wants to buy Twitter personally. Tesla is not involved in the deal, although there has been speculation that he will merge the two operations with his other businesses, including SpaceX, into one single holding company, after registering a company called X Holdings.

Musk’s offer for Twitter stock looks like a done deal

As the richest person in the world, Musk shouldn’t have any trouble raising funding for the deal. According to a regulatory filing, he has already lined up $25.5bn in debt financing from key banking partners and is looking to provide $21bn of equity for the deal himself. These funds may come from Tesla’s controversial 2018 bonus scheme.

I say he shouldn’t have any trouble raising the funds as there’s no guarantee Musk’s banking partners will stump up the cash. Part of the debt financing is a margin loan of $12.5bn secured against his stake in Tesla. Equity market volatility could send bankers running if Tesla shares suddenly plunge in value.

There are plenty of other hurdles the deal will have to overcome before the finish line, but where there’s a will there’s a way. While the current market price of Twitter stock is below the offer price of $54.20 (suggesting investors are sceptical), Musk has the resources to push through any deal.

Most importantly it seems as if he has won over the support of Twitter’s management, which only last week tried to block any potential deal by putting in place a so-called poison pill. This would have diluted the billionaire’s stake if he’d bought more than 15% of the business without their approval.

Investors should take the money and run

With tech stocks across the market facing heavy selling pressure, Musk has emerged as a white knight for Twitter’s investors. His interest in the business has shielded its shareholders from the wider market sell-off. As the tech-heavy Nasdaq index has plunged 20% this year, Twitter stock has jumped 20%.

Still, there are many reasons why the deal could fall apart, and considering the current market conditions, there is no telling where Twitter could end up if it does.

As uncertainty prevails, the best option for shareholders may be to take the money and run.

Source: Twitter stock: Elon Musk could be the saviour it needs right now | MoneyWeek

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Critics:

As of now, Twitter is still a publicly-traded company on the New York Stock Exchange. This means that for roughly ~$50 (approx. stock price), you can own a small slice of the social media giant.

However, once Musk follows through on his promise to take the company private, the ability to buy more shares will be over. But even though the deal was struck today, you’ll still be able to buy or sell Twitter stock until the deal is closed.

Dan Raju, CEO of Tradier, tells Select what Twitter shareholders should keep in mind:

  • If the deal is done today, it doesn’t mean you can’t continue to buy and sell the stock. However, he strongly believes the share price will likely become “volatile” between the time of announcing the deal to officially delisting the stock.
  • Raju said it would be “weeks rather than days” before it’s delisted on the NYSE, and it’s “hard to guess” how long the regulatory process will take.
  • His analysis says the acquisition is “good for the stock” and traders could look into call options as a way to bet on the positive reaction if the deal is struck.

So if you desire to have an ownership stake in the future of Twitter before it’s taken private, you’ll need to open a brokerage account where you can buy and hold your stocks. It’s free to open an account with brokerages like Fidelity, Robinhood or Vanguard, which let you buy and sell stock for free.

From there, simply connect a checking account to fund the purchase. Lastly, search the ticker symbol for Twitter, which is “TWTR”, and click the buy button. You can also indirectly own shares of Twitter through ETFs and index funds, which are portfolios of companies compressed into easy-to-buy shares. For example, the widely-known S&P 500 index is made up of just over 500 companies, and Twitter is one of them.

However, be aware that purchasing individual stocks, including Twitter, can be risky — buying Twitter stock above $54.20 could result in a loss.

More contents:

Tesla Stock Is Falling. How It Stands to Gain From Sale of Twitter to Musk

The Dow Is Dropping, Microsoft Earnings Are Coming—and What Else Is Happening in the Stock Market Today 

Why Twitter’s Sale to Musk Was the ‘Least Risky Choice’

Jeff Bezos Weighs in on Elon Musk’s Twitter Takeover: ‘Did the Chinese Government Just Gain a Bit of Leverage?’

Elon Musk’s Twitter Buy Has at Least One Fan—Founder Jack Dorsey 

A Big Tech encore and Twitter showdown will shape biggest week of earnings season   

Elon Musk Will Make an Indelible Mark on Twitter, Experts Say 

Twitter agrees to be bought by Elon Musk for $44 billion

Reaction to Twitter and Musk split along party lines —‘An encouraging day for free speech’ or ‘a platform where only the loudest can be heard’?

It looks like nothing will stop Elon Musk from owning Twitter

Elon is the singular solution I trust,’ says Jack Dorsey of Twitter takeover plan

Twitter’s Embrace of Elon Musk’s Bid Suggests a First-Quarter Disappointment

How Elon Musk’s Twitter Offer Went From No Go to Reality

Tesla Stock Dropped After Elon Musk’s Deal for Twitter. Blame Margin Borrowing

Twitter Inc. stock outperforms market on strong trading day

Even if Musk would let Trump back on Twitter, the former president and Truth Social’s Devin Nunes say he’s not interested

Dow stages biggest intraday turnaround since February as investors brush off concerns about China’s COVID-19 lockdowns  

The Dow Rebounded, Twitter Jumped—and What Else Happened in the Stock Market Today

Twitter’s board accepts Elon Musk’s offer — and users are either celebrating ‘free speech’ or saying ‘RIP Twitter’

Twitter’s Capitulation to Musk Is Just Another Sign the Stock Market Is in Trouble

These numbers show the company has plenty of life

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Why Jack Dorsey’s First-Tweet NFT Plummeted 99% In Value In A Year

In December 2020, Jack Dorsey created a non-fungible token (NFT) out of his first-ever Twitter post. He turned a static image of a five-word tweet into a digital file stored on a blockchain, and voila, an NFT was born. A few months later, the image sold for a stunning $2.9 million. Yet in an auction this past week, no one bid more than $280 for it. And even current bids on OpenSea only amount to about $10,000, a 99% drop in value. What happened?

Dorsey’s NFT initially garnered little interest, with some people bidding a few thousand dollars in December 2020—a time when NFTs still had few believers. But in March 2021, the market entered hype mode, with monthly sales on OpenSea jumping to nearly $150 million, up from just $8 million two months prior.

Iranian crypto entrepreneur Sina Estavi got swept up in the frenzy, buying Dorsey’s NFT for $2.9 million. He tells Forbes he paid such a hefty sum due to the NFT’s uniqueness and association with such a valuable company as Twitter.

While you could argue that Dorsey’s first-tweet NFT has historical significance, the $2.9 million price tag is nearly impossible to justify. The bubble price Estavi paid epitomizes the greater fool theory at work. “What is the utility of that NFT?

Does Jack Dorsey take you out to dinner in Silicon Valley?” says Mitch Lacsamana, an NFT collector and head of marketing for an NFT trading group. “What is the real value proposition here? I think time has probably told us, and it’s probably nothing.”

On April 5, Estavi put the NFT up for auction for 14,969 ether, or about $50 million. Embarrassingly, no one bid more than $280. Estavi says “no one knows” why the bids came in so low. It seems that few people took it seriously. “Bidders just realized what it was–a publicity stunt. A way to get exposure,” says Blake Moser, an NFT collector who has nearly 400 NFTs. “I do think Sina Estavi accomplished what he was looking for–exposure to his NFT.”

Estavi has indeed gotten attention, but he seems severely out of touch with the rapidly changing NFT market. “The market isn’t ready to jump into literally anything that a celebrity or someone of high stature might release,” Lacsamana says. “I think last year was a really good time for that, but a lot of people have grown weary of cash-grab tactics.”

While the failed auction shows that NFT hype has waned, the market is still very active, with trading volume hovering between $2 to $3 billion a month on OpenSea, up from $150 million a year ago. Prices for some NFT collections like the Bored Ape Yacht Club remain near all-time highs.

Estavi’s NFT saga seems to be a case of an ill-advised $2.9 million purchase, buyer’s remorse and a new bid for attention. Estavi himself has a sketchy history. His startup, Oracle Bridge, says it will allow blockchain platforms to ingest data more easily, but today it seems to be little more than a white paper.

Estavi also claims he was arrested last year in Iran and had to shut down the company for nine months while he was in prison. “They accused me of disrupting the economic system,” he says vaguely. Now he’s trying to start the company up again. Over the past day, bids for the Dorsey tweet NFT have risen to about $10,000. Estavi says he won’t sell for anything less than $50 million.

I lead our fintech coverage at Forbes and also cover crypto. I edit our annual Fintech 50 and 30 Under 30 for fintech, and I’ve written frequently about leadership and corporate

Source: Why Jack Dorsey’s First-Tweet NFT Plummeted 99% In Value In A Year

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Critics: By:

NFTs are traded in NFT marketplaces, which have structured platforms like eBay’s. Most NFTs are sold via auctions, although some sell at fixed prices. Some marketplaces specialize in a type of NFTs, e.g., art, games, sports, whereas others sell everything.

If you wish to create a new NFT (called minting) you can do so through any of the marketplaces. The largest marketplace is OpenSea, which in 2021 had about a 90% market share by dollar trading volume across marketplaces. 

There are fees for creating and trading NFTs, from upfront account setup fees and minting fees to sales fees. If you are going to create or trade NFTs, make sure you know a marketplace’s fee structure. To get a sense of fees collected, OpenSea collected about 8% of its sales volume in fees in January.

There may also be royalty fees (usually 10-30% of the sales price) that go to the original creator of an NFT every time a transaction in that NFT takes place. 

Through 2021, the top ten NFT collections had over $15 billion in historical trading value and around a 60% share of the total NFT market. The dominance of a few collections in the market is most likely due to a preference by NFT speculators to trade within collections. It is easier to value an NFT from a collection because there are other NFTs to compare it to.

It follows that, of the money a minority of traders make speculating in NFTs, most of it is from trading within collections. Clearly, informed traders know where the money is, but it is hard to believe that the market can absorb as many collections as there are today: 3,264, up from 193 a year ago. At some point, having so many collections defeats their purpose.

The evidence from the previous study is clear: most NFT speculative traders do not earn a positive return. From an investing perspective the results are unfortunate, but not surprising. Another aspect of trading in NFTs is that fraud within the NFT ecosystem is said to be rampant. The potential for “bad actors” to engage in nefarious selling and trading of NFTs (including counterfeit tokens or assets they don’t actually own) was described as a “contagion” by the CEO of one NFT platform.

The result is a situation where your NFT purchase could end up being worthless. Combining the difficulty of earning a positive return and the inherent risks, NFT trading is not a good proposition, so stay away. They have all the signs of being an investing fad that will likely pass.

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Twitter Promises to Better Explain Why Certain Things Are Trending

“Why is this trending?” was tweeted more than half a million times in the last year. Twitter users clearly want to understand why something is popular, and the company took note.

On Tuesday, Twitter announced that it would elaborate on trends via pinned tweets and descriptions on trending topics. 

Providing context around trends happens through a combination of algorithms and human review. The algorithms pick out tweets that aren’t abusive, spam or posted through fraudulent accounts. A representative tweet is then pinned to a trend to show why users are talking about the topic. This feature has already been implemented on Twitter for iOS and Android, and the company plans to bring it to Twitter.com as well. 

Descriptions haven’t rolled out yet, but they’ll be written by Twitter’s curation team, which will abide by certain guidelines

Here’s what pinned tweets and descriptions could look like:

(Image Credit: Twitter)

Related: Twitter Labels Trump’s Mail Drop Boxes Tweet for Violating Election Integrity Rules

The additional context on trends will be available in Argentina, Australia, Brazil, Canada, Colombia, Egypt, France, India, Ireland, Japan, Mexico, New Zealand, Saudi Arabia, Spain, the United Kingdom, the United Arab Emirates and the United States.

“To bring more clarity to the conversation, we hope to add more context to more trends over time,” says product trust partner Liz Lee and product manager Frank Oppong reads. “We need to make trends better and we will.” 

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Uncovering The Money Laundering Attempts Of Bitcoin Fraudsters Behind The Recent Twitter Scam

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Performing an initial investigation to follow the funds related to the Twitter TWTR hack that happened on July 15 to Elon Musk, Jeff Bezos, Barack Obama, Joe Biden, Kanye West, Bill Gates and numerous other celebrities and executives of large technology companies, it is evident the many of those funds already hit reputable exchanges that might freeze the funds.

During the Twitter hack, the fraudsters, posing as celebrities, falsely informed users that they have decided to partner up with a mysterious organization called “CryptoForHealth” in order to ‘give back to their community.’ The scam has been covered extensively by several news outlets including Forbes contributors like Jasse Damiani, that reviewed the initial steps just after the hack.

As different celebrities were sharing and resharing those posts that turned out to be fraudulent, some of their followers decided to open up their own wallets and pay as well. More than $130,000 later, most of the posts had been removed, the website of CryptoForHealth shut down. Twitter stepped in to forbid some users to tweet, but it is high time to recover the funds to the victims or at least specify to which exchanges they have been sent.

Despite a common misperception as Bitcoin represents a pseudo-anonymous network, transactions performed on it are both visible to the general public and traceable. Addresses can be directly connected to particular exchanges.

As scammers are still moving funds between cryptocurrency wallets, investigators from all over the world have stepped in with the goal to identify types of exchanges and freeze the funds on different accounts.

From the initial review, it is evident that much of the funds have been transferred to Binance. In a recent statement to TechCrunch, Binance Security Team informed that they have been aware of the situation and launched an investigation, which is visible to the crypto community as their team marked several cryptocurrency wallets as fraudulent.

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Earlier today, an article released by Cointelegraph revealed that addresses used by the hackers had previously been linked to Coinbase and BitPay, common names in the cryptocurrency exchange and merchant sphere.

“According to our initial analysis the funds have reached many exchanges, but the core of the funds originated from the main Binance address. It is now clear that scammers were sending funds back and forth between different cryptocurrency addresses in an attempt to confuse law enforcement agents, wash them. Once completed fraudsters have sent a large parts of the funds to an address belonging to Binance yet again, which has been rather quickly discovered and flagged by the exchange.

Secondary besides Binance, it seems though that multiple exchanges like Bittrex, as well as MercadoBitcoin in Brazil have received funds from this scam already,” said Sven Martinsson, the Founder & CEO of VALEGA Chain Analytics – a Blockchain Investigations and analytics firm working out of Finland.

Even though the investigation remains novel, due to the transparency of the open blockchain of Bitcoin, it is possible to follow different transactions to a different account at cryptocurrency exchange platforms. Being personally engaged in one such ‘crypto exchange platform,’ competent and motivated compliance team members have a portfolio of tools and processes to stop such transactions in case they are being spotted. The fraudsters seem to know that so that there is a race for the fraudsters to try to exchange the funds to fiat currencies as soon as possible and Blockchain investigators to mark as many wallets as quickly as possible to freeze those funds.

Even though the identity of the scammers remains yet unknown, there are tools in place which allow for visualizing transactions between different accounts and exchanges that use the publicly available data and connect wallets to crypto exchanges.

Here are a couple of examples of how the fraudsters anticipated to hide their tracks. Everything starts on the left side in the middle of the graph, which represents the first address to which the scammers asked users to pay. Each additional connected line of dots represents their effort to hide their tracks and mix funds between different wallets and exchanges.

A more comprehensive description has been placed below each picture which represents a print screen out of a Blockchain Analytics Software.

Zooming in closer to different dots allows us to directly view the cryptocurrency wallet address which has been used. It is connected to a particular wallet provider or a platform (with strong but not utmost certainty). In order to review where funds were directed and how much was sent.

Investigations performed by compliance teams take time as they are most likely performed by individuals who are working for different exchange platforms or geographies, so sometimes the funds are able to be transferred to an account before they are being flagged as fraudulent. Red accounts have been already marked as fraudulent.

Following each transaction and the connected spiderweb of transfers between cryptocurrency addresses helps to spot a time period in which fraudsters will try to wash funds with a legitimate exchange. As stated below, fraudsters launched a transfer to MercadoBitcoin in Brazil as well as Bittrex.com already.

This review is just a snapshot of the current stage of transfers performed by the fraudsters as of the afternoon of July 17th. It does not display traces in full to avoid obstructing justice or investigations. Even though it has been a Twitter hack and not a Bitcoin hack, the pseudo-anonymity of bitcoin and visibility of each transaction with tools like the wallet explorer does prove that the Crypto community is not helpless and knows more and more with each transaction the fraudsters perform. It is important to underline that it was not Bitcoin that got hacked, it was Twitter. Bitcoin was just the chosen means of payment.

Sven will release a collected investigation free of charge to anyone who can identify themself as an investigator in the process.

Disclaimer:

The transaction investigation remains ongoing. For security reasons and not to interfere with investigations, this is just a teaser to provide insights into different tactics of criminal networks. Exchanges in question have the appropriate means to stay compliant and do their reporting accordingly. This is NOT an attempt to defame or point any fingers and the statements are assumptions, not yet evidence. It remains a visualization of investigation that affected many users and the account holders on Twitter.

For transparency purposes – The contributor of this post is a Head of Compliance in one of the leading Cryptocurrency Exchanges in the Nordics called ‘Safello’.

He serves as a board advisor to Valega Chain whose team has launched an investigation to follow the stolen funds on his request. Statements about how Blockchain Analytics Tools work have been performed on the example of Valega Chain Analytics and should not be generalized to other Blockchain Analytics Tools as all of them have their own criteria, tools, and internal processes. 

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I’m a freelance technology, video game, and entertainment journalist. I’ve been writing about the world of technology, video games, and entertainment for the last decade. If you’ve seen my work around the Web, you’ve probably found me analyzing and reviewing your favorite smartphones, televisions, and video games. And if you’re on Twitter, you probably see me asking for movie recommendations and complaining about the tech in my life not working the way it should. In my free time, I’m usually tinkering with tech, improving my surround sound setup, and insatiably consuming all the world of tech, games, and geek culture has to offer. I write for Forbes Finds. If you buy something using a link on my posts, Forbes Finds may receive a small share of that sale.

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