#Binance The walls around the walled garden of Twitter were raised even higher this week.

Twitter CEO Elon Musk announced Saturday that the blue bird app is taking steps to limit verified accounts to reading 6,000 posts daily, while unverified accounts and new unverified accounts are being capped daily at 600 and 300 respectively.

To address extreme levels of data scraping & system manipulation, we’ve applied the following temporary limits:

- Verified accounts are limited to reading 6000 posts/day - Unverified accounts to 600 posts/day - New unverified accounts to 300/day

— Elon Musk (@elonmusk) July 1, 2023

Claiming the sudden change is being implemented to combat “extreme levels of data scraping and system manipulation,” Musk said the daily restrictions would eventually be raised to 8,000 posts for verified users, 800 for unverified accounts, and 400 for new unverified users.

In the meantime, thousands of Twitter users are reportedly facing broken home feeds and comment threads, with “#TwitterDown” being the top trending hashtag as of Saturday.

Meanwhile at Twitter headquarters.. 😂#TwitterDown pic.twitter.com/eViPtgkdly

— Buitengebieden (@buitengebieden) July 1, 2023

Twitter’s technical problems stem from its own fundamentally bad architecture, some commentators are saying.

“Twitter is DDOSing itself” by “firing off about 10 requests a second to itself to try and fetch content that never arrives because Elon’s latest genius innovation is to block people from being able to read Twitter without logging in,” observed web developer Sheldon Chang on Mastodon.

Chang was referring to the previous major change Twitter made to its service just yesterday, removing public access to tweets. However, Twitter’s own documentation still asserts that “Tweets are public by default; anyone can view and interact with your Tweets.”

Many believe Twitter’s latest restrictions are targeted at large language model AI providers—or at least competitors to OpenAI, which Musk claims to have invented. These systems must aggressively expand their libraries to remain competitive, and they do so by scraping mass swathes of publicly available data from platforms like Twitter.

Another possible reason for Twitter’s latest move could be due to a strained relationship with #Google as Bloomberg reported last week that the company had stopped paying bills from Google.

Yet, Twitter is not the only major social media platform moving to restrict platform access. Reddit also recently saw thousands of subreddits voluntarily go private in protest of the company’s new pricing for access to its API.

Like Musk, Reddit CEO Steve Huffman claimed the move was partially motivated by wanting to charge AI companies who trained their algorithms on Reddit’s data, telling The New York Times that “we don’t need to give all of that value to some of the largest companies in the world for free.”

This isn’t the first time Musk has acted against rival social media platforms. Since purchasing Twitter in October for $44 billion, Twitter also restricted tweet embeds on Substack, and blocked likes, retweets and comments on tweets that linked out to Substack.

Dan Romero, founder of decentralized social media platform Farcaster, quipped today that his platform was rate limit-free.

If you want a Farcaster invite, send me a DM. We don’t have rate limits.

— Dan Romero (@dwr) July 1, 2023

Aave founder Stani Kulechov, also creator of decentralized social media platform Lens Protocol, tweeted a reminder that well-designed social media platforms should not have to make the trade-offs Musk is apparently making.

Well designed platform should be available for data readability/retrieval without much limitations, data state changers can bear the cost of allowing open read access. Platforms and networks need to design their systems without sacrificing access to information

— Stani.lens (🌿,👻) (@StaniKulechov) July 1, 2023

As Twitter grows more turbulent, its users are slowly migrating away from the platform. According to data compiled by Dewey Square Group, #Twitter is seeing a constant decline in users, an approximate 7.7% traffic decline in March year-over-year.

In turn, rival platforms like Cohost and Jack Dorsey’s Bluesky are claiming record surges in sign-ups and traffic.

hi everyone!

we're experiencing server issues due to an unprecedented number of signups and the site will be back up soon. thank you for your patience as we work on a fix.

— cohost.org (@cohost_org) July 1, 2023

Spill, an alternative microblogging platform started by ex-Twitter employees, is also nipping at the blue bird’s talons, having recently launched its beta on the App Store.

How many fights can Elon Musk pick at once?

Just one month ago, Musk was sued in a class action lawsuit for allegedly engaging in insider trading by manipulating the price of crypto’s most resilient #memecoins Dogecoin, then selling about $124 million of DOGE.

The plaintiffs alleged that Musk pumped DOGE’s price via various publicity stunts such as the change of Twitter’s logo to the #Dogecoin shiba inu dog in April, and his 2021 appearance on NBC’s Saturday Night Live.

$DOGE

Google is updating its advertising policies to include promotions for new cryptocurrency-related products, explicitly including ETFs.Google added that further explanations about the updated policy scope and requirements will be provided in January 2024.Currently, the platform allows the promotion of specific products unrelated to cryptocurrencies directly for buying, trading, or holding crypto.
According to the latest update in Google’s advertising policy, spot Bitcoin ETFs can benefit from this policy!
Google Updates Advertising Policies

Google is updating its advertising policies to include promotions for new cryptocurrency-related products, explicitly including ETFs. After updating advertising policies a few months ago to allow the promotion of specific crypto products, the tech giant is now expanding advertising policies again.
The latest update by Google aims to allow advertisers to promote financial products that offer the opportunity to trade shares in trusts accumulating significant amounts of digital currency. The tech giant stated that advertisers can promote “financial products that enable trading of shares in trusts accumulating significant digital currency” starting from January 29. Google added that further explanations about the updated policy scope and requirements will be provided in January 2024.
When these new changes take effect, advertisers will be able to expand the scope of cryptocurrency-related products they can promote across Google’s extensive network. Google had banned cryptocurrency-related ads in 2018 but has gradually softened its stance since then.
Currently, the platform allows the promotion of specific products unrelated to cryptocurrencies directly for buying, trading, or holding crypto. Additionally, advertisers can also promote NFT games enhancing user experience or unlocking new levels using blockchain-based assets.
Bitcoin ETF Coming Soon?
Google’s latest advertising policy update and its timing could further indicate that the U.S. Securities and Exchange Commission (SEC) is in the process of approving spot Bitcoin ETFs. The update notably includes the phrase “advertisers offering Crypto Para Trusts targeting the U.S.” In investing, investment trusts and ETFs are often used interchangeably to refer to products providing exposure to a fundamental asset or index.
Nothing has been officially approved at this stage, but Google’s recent developments align with a period when the SEC is in advanced discussions with issuers applying to launch Bitcoin ETFs. Signs suggest approval could come in January, coinciding with the month Google updated its advertising policies.
Meanwhile, Bitcoin (BTC) took a pause after its upward trend. The leading cryptocurrency dropped to $40,400 in the early hours of Monday, but has since rebounded above $42,000.

#BinanceTournament $BTC #Bitcoin #BitcoinETF #Google

Today, Google has revised its advertising guidelines, now permitting cryptocurrency trusts, such as Bitcoin Exchange-Traded Funds (ETFs), to promote their products. Spot Bitcoin ETF issuers such as BlackRock and Franklin Templeton have wasted no time in marketing their funds, with advertisements already starting to emerge.This revision comes at an interesting time as the discussion around Bitcoin ETFs continues to gains momentum, after the US Securities and Exchange Commission (SEC) approved the first batch of spot Bitcoin ETFs in the country. Google's decision to allow advertising for Bitcoin ETFs provides these financial instruments with a much broader reach and exposure to a wider audience.The updated guidelines mean that companies managing Bitcoin ETFs can now leverage Google's advertising platform to raise awareness and attract investors. This change could contribute to increased visibility and understanding of Bitcoin ETFs among both institutional and retail investors.Google's decision aligns with the growing acceptance of Bitcoin and related investment products in mainstream finance. The move is likely to help foster a more innovative environment for Bitcoin, as it integrates more into traditional financial markets. As the industry eagerly awaits to see how well these revised guidelines are for the Bitcoin ETFs, the impact on the advertising landscape for them could be substantial. #BitcoinETF💰💰💰 #Google