Elon Musk's X sued two UK residents in London, alleging they operated a network of fake Bitcoin-focused accounts to fraudulently collect at least $278,000 in creator payouts by manipulating engagement metrics.
Social media platform X is in discussions to use stablecoins such as Circle's USDC to pay royalties to influencers and content providers. The initiative aligns with X's newly launched Original Content Rewards program.
Creator monetization platform Patreon announced it is laying off 93 employees, representing 20% of its workforce. CEO Jack Conte said the company needed to adjust its cost structure after the market in which it operates underwent profound changes during the previous six months. He separately said artificial intelligence had fundamentally transformed the technology industry and affected how Patreon operates and organizes, while stressing that the cuts were not based on a belief that AI could replace employees or human creativity.
Facebook and Instagram parent company Meta now offers USDC stablecoin payouts to content creators in select countries (initially Colombia and Philippines) through integration with Stripe's payment infrastructure on Solana and Polygon blockchains.
