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News

Wormhole X Account Was Suspended, Making The Community Suspicious

February 11, 2024 - Around 2 mins mins to read

Key Points:

  • The official Wormhole X account has been suspended, raising concerns about fairness in content moderation.
  • Elon Musk’s platform introduced new policies targeting sensationalism in crypto-related content, prioritizing accuracy over revenue sharing.
The official Wormhole X account has recently been suspended, raising concerns within the crypto community.
Wormhole X Account Was Suspended, Making The Community Suspicious
Wormhole X Account Was Suspended, Making The Community Suspicious 4
Wormhole X Account Was Suspended, Making The Community Suspicious
Source: Wormhole Discord

Read more: Wormhole Review: The Most Powerful Cross-chain Bridge Protocol

Wormhole X Account Suspended: Fairness in Content Moderation Questioned

Wormhole, a cross-chain bridge facilitating asset transfers between different blockchains, confirmed the suspension and assured users that measures are being taken to address the issue. Previously, Wormhole Foundation and Jump Crypto successfully completed a series of private token sales, generating total proceeds in excess of $225 million.

Wormhole’s platform supports connections between various chains, including Ethereum, Solana, BSC, Polygon, Avalanche, Algorand, Fantom, Karura, Celo, Acala, Aptos, and Arbitrum. However, amidst the Wormhole X account suspension, speculation arises as to whether legitimate crypto projects are being unfairly targeted on the platform.

Wormhole X Account Was Suspended, Making The Community Suspicious
Wormhole X Account Was Suspended, Making The Community Suspicious 5

Elon Musk’s Platform Implements Stricter Policies Against Crypto Sensationalism

This incident comes in the wake of a significant policy shift on the X platform announced by Elon Musk. The changes aim to combat rumors and sensationalism, particularly in crypto-related content.

Musk introduced measures to prioritize accuracy, implementing stricter guidelines for revenue sharing. Posts corrected by the community-driven fact-checking feature, “Community Notes,” will no longer be eligible for revenue sharing, reflecting a commitment to fostering a more reliable information environment.

Notably, this isn’t the first time a prominent figure in the crypto space has faced suspension on X. Changpeng Zhao, the former CEO of Binance, experienced a similar ordeal, with his account suspended for nearly a day due to unclear reasons.

The suspension of the Wormhole X account underscores the challenges faced by platforms in balancing content moderation with fostering a healthy information ecosystem.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.