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Twitter is losing its tweeters

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Research shows Twitter is struggling to keep their most active users

Social media platform, Twitter is battling to keep their most valuable asset…active users.

According to an internal research document titled ‘Where Did the Tweeters Go?’, so called heavy tweeters have been in “absolute decline” since the start of the pandemic.

In the document, a heavy tweeter is describes as someone who logs into Twitter six or seven days a week, and tweets around three to four times a week.

Heavy tweeters may only account for less than 10 per cent of overall monthly users, but they generate 90 per cent of all tweets, and half of global global revenue.

It raises a question tweeted by Elon Musk five days before announcing his offer to buy the company where he asked “is Twitter dying?”

It comes as Elon Musk approaches his deadline to complete his $44 billion deal to takeover the company.

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British lawmakers want to fine social media

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Social media companies could be fined if they don’t remove harmful content, according to a new plan from the UK Government

Lawmakers want to make it illegal to encourage users to harm themselves online.

It’s part of a crackdown on online behaviour on content that leads to self harm.

In a statement, Digital Secretary Michelle Donelan said these firms “can no longer remain silent bystanders”.

She says they’ll face fines for allowing this abusive and destructive behaviour to continue on their platforms.”

It follows the death of Molly Russell in 20-17, which sparked concern for harmful content online.

A coroner ruled social media platforms fed her content that “romanticised acts of self-harm”.

Sexually explicit materials will also be banned under the new policy.

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Twitter adds millions of users after cutting staff

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elon musk twitter

Twitter boss Elon Musk says new user signups to the social media platform are at an “all-time high”.

That’s despite his recent struggles with a mass exodus of advertisers and users fleeing to other platforms.

Musk says signups to Twitter are averaging over two million per day over the past week.

Reported impersonations on the platform spiked earlier this month, before and in wake of the Twitter Blue launch.

Musk says buying Twitter will speed up his ambition to create an “everything app” called X.

Musk’s “Twitter 2.0 The Everything App” will have features like encrypted DMs, longform tweets and payments.

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Binance pours in another billion to help crypto

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Crypto exchange Binance has allocated another $1 billion for its industry recovery fund, effectively doubling the size of the fund within just one week.

The additional allocation was announced by Binance’s CEO.

Binance won’t be on its own. Aptos Labs and Jump Crypto, along with other prominent crypto companies joined Binance’s initiative and will contribute $50 million to the fund.

The crypto market has seen a massive decline since the start of the year, leading to several crypto firms going out of business.

The recovery fund will be used to buy distressed crypto assets and support the industry.

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