This illustration photo show the Facebook page of former President Donald Trump on a smartphone screen in Los Angeles, March 17, 2023.
Chris Delmas | AFP | Getty Images
On Friday, Donald Trump wrote a message on his Truth Social messaging platform that was reminiscent of the waning days of his presidency, when his public posts got him kicked off Twitter, Facebook and YouTube.
In complaining about a potential indictment, Trump warned of “potential death & destruction” should he be charged with a crime. Trump was reacting to the latest developments in a hush money probe and to Manhattan District Attorney Alvin Bragg, whose office has been leading the investigation.
Following the Jan. 6 Capitol attack over two years ago, the major U.S. social networks banned Trump, citing his threatening rhetoric and the risks of further violence if he were to remain on their platforms.
They’ve since welcomed him back.
In November, Twitter’s new owner, Elon Musk, said he was reinstating Trump’s account after running a straw poll asking his followers if he should readmit the ex-president, who is again campaigning for his old job.
“The people have spoken. Trump will be reinstated,” Musk wrote. He’d foreshadowed the decision months earlier, saying at a conference in May that “permanent bans should be extremely rare and really reserved for accounts that are bots, or scam, spam accounts,” adding that, “it was not correct to ban Donald Trump.”
Meta announced in late January that Trump would soon be allowed to return to Facebook and Instagram. Nick Clegg, Meta’s president of global affairs, wrote in a blog post that “the public should be able to hear what their politicians are saying — the good, the bad and the ugly — so that they can make informed choices at the ballot box.”
And most recently, Google’s YouTube said this month that Trump would be allowed to start posting videos again.
Now the question is — what are the rules from here?
Thus far, Trump has been relatively quiet on the major social media platforms. Rather, he’s stuck to daily musings on Truth Social, writing in a post this week that Democrats are “INTERFERING IN OUR ELECTIONS, THEIR NEW FORM OF CHEATING!!”
He hasn’t tweeted since Jan. 8, 2021. On Facebook, Trump has posted a few snippets from his rallies and some some fundraising blasts. On YouTube, he’s got one new video, from March 17, announcing to his 2.7 million subscribers, “I’M BACK!”
The companies that punished Trump for his prior antics have little reason to believe his behavior will change. His Truth Social posts are littered with examples to the contrary. Advocacy group Accountable Tech wrote in a recent report that it found over 350 Trump posts on Truth Social that would violate Facebook’s safety rules.
“He’s using Truth Social to incite people,” said Jessica González, co-CEO of media and tech advocacy organization Free Press. She said his posts there remind her “in some ways of what he was saying before January 6.”
Prior to Meta’s reinstatement of Trump’s Facebook account, Free Press sent a letter to the company urging it to “permanently instate Meta’s ban on former President Donald Trump.” The letter cited a draft report on the Jan. 6 attack by the U.S. House of Representatives’ Select Committee that said the “the risk of violence has not abated” since the insurrection.
Meta said in January, in letting Trump back onto Facebook and Instagram, that the risk to to public safety “has sufficiently receded.”
The company said at the time it had implemented “new guardrails” intended “to deter repeat offenses” by Trump, including limiting his reach and removing the reshare button on questionable posts.
“In the event that Mr. Trump posts further violating content, the content will be removed and he will be suspended for between one month and two years, depending on the severity of the violation,” Meta said.
A Meta spokesperson declined to comment about Trump’s Truth Social posts and pointed to the company’s statement in January.
Twitter responded to a request for comment with Musk’s standard poop emoji retort.
Elon Musk attends The 2022 Met Gala Celebrating “In America: An Anthology of Fashion” at The Metropolitan Museum of Art on May 02, 2022 in New York City.
Dimitrios Kambouris | Getty Images
YouTube didn’t provide a comment for this story. Leslie Miller, vice president of public policy in Google’s video unit, said in a prior statement that the company “carefully evaluated the continued risk of real-world violence, balancing that with the importance of preserving the opportunity for voters to hear equally from major national candidates in the run up to an election.”
Miller said the “channel will continue to be subject to our policies, just like any other channel on YouTube.”
The clearest restrictions on Trump come from Truth Social, but they have nothing to do with the substance of his posts. According to an agreement between the two parties, Trump must post on Truth Social six hours before publishing on a competing social network.
However, that exclusivity deal is scheduled to end in June.
“That’s when we’ll really see whether the platforms are going to be willing to abide by the guardrails they put in place,” González said, adding that the limitations put in place by Meta “are just weak.”
Angelo Carusone, CEO of the nonprofit Media Matters, said he’s concerned that Trump’s campaign will spread disinformation and incite violence on Truth Social and Rumble, another conservative social network. Facebook and Twitter can be used to guide his many millions of followers to those other apps, which have minimal guidelines on content.
The risks posed by Trump’s social media habits are greater now that Musk is in control of Twitter, Carusone said.
“Twitter was typically the first one out of the gate to make a policy change” regarding content and disinformation, Carusone said. Under Musk, Twitter “will no longer be a vanguard for addressing disinformation or extremism,” he said.
Musk has said that he’s only running Twitter as CEO temporarily and that he hopes to appoint a successor by the end of this year. As the 2024 elections near, it’s unclear if any other social network will assume a leadership role regarding policy matters.
González says it’s only a matter of time before Trump’s inflammatory posts create headaches for the major social networks.
“The more cornered he feels and the more his power and his freedom are under threat, the more we’re going to see him lash out,” González said. “He’s proven that he will have no restraint.”
The price of the second largest cryptocurrency rose as high as $4,954.81 on Sunday afternoon. It was last higher by less than 1% at $4,776.46.
Meanwhile, bitcoin at one point erased all the gains from its Friday rally, falling as low as $110,779.01, its lowest level since July 10. It was last trading lower by nearly 2% at about $112,000. The flagship cryptocurrency hit its most recent record of $124,496 on Aug. 13.
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Ether (ETH) and bitcoin (BTC)
On Friday, crypto rocketed with the broader market after Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts and investors returned to risk-on mode. Ether surged 15% and bitcoin gained 4%.
Ether, rather than bitcoin, has been leading the crypto marker for several weeks thanks to regulatory tailwinds, a boom in interest in stablecoins and buying en masse by a new cohort of corporate ether accumulators. On Saturday, Bitmine Immersion Technologies, the ether treasury company chaired by Wall Street bull Tom Lee, bought $45 million of ether, according to crypto data provider Arkham.
That shift in leadership has helped sustain ETH, which has sustained the $4,000 level this month after unsuccessfully testing the resistance mark a handful of times since 2021.
“The buyers are finally bigger than the sellers,” said Ben Kurland, CEO at crypto research platform DYOR. “ETH ETFs are drawing steady inflows, and public companies are beginning to treat ETH as a treasury asset they can stake for yield — a stickier form of demand than retail speculation.”
“Additionally, nearly a third of supply is locked in staking, scaling solutions are mature and, with rate cuts back on the table, the cost of capital is falling,” he added. “Those forces turned $4,000 from a resistance level into a foundation for re-pricing ETH’s next chapter.”
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SpaceX is valued at around $400 billion and is critical for U.S. space access, but it wasn’t always the powerhouse that it is today.
Elon Musk founded SpaceX in 2002. Using money that he made from the sale of PayPal, Musk and his new company developed their first rocket, the Falcon 1, to challenge existing launch providers.
“There were actually a lot of startup aerospace companies looking to take on this market. They recognized we had a monopoly provider called United Launch Alliance. They had merged the Boeing and Lockheed rocket launch capacity to one company, and they were charging the government hundreds of millions of dollars to launch satellites,” said Lori Garver, a former deputy administrator at NASA.
In 2003, Musk paraded Falcon 1 around the streets of Washington hoping to attract the attention of government agencies and the multi-million dollar contracts that they offered. It worked, and in 2004, SpaceX secured a few million dollars from the Defense Advanced Research Projects Agency, or DARPA, and the U.S. Air Force to further develop its rockets.
Despite the government support, the company struggled. Its first three launches of the Falcon 1 failed to reach orbit.
“NASA, and specifically the the initial commercial cargo contract, is what saved the company when it was on the brink of bankruptcy,” said Chris Quilty, president and Co-CEO of Quilty Space, a space-focused research firm.
NASA awarded the $1.6 billion contract, known as Commercial Resupply Services to SpaceX in 2008, just months after the first successful flight of the Falcon 1. The contract called on SpaceX to use its new rocket, the Falcon 9, along with its Dragon capsule to ferry cargo and supplies to the International Space Station over the course of 12 missions. In 2014, SpaceX won another NASA contract worth $2.6 billion to develop and operate vehicles to ferry astronauts to and from the International Space Station.
Today, SpaceX dominates large parts of the space market from launch to satellites. In 2024, SpaceX conducted a record-breaking 134 orbital launches, more than double the amount of launches done by the next most prolific launch provider, the China Aerospace Science and Technology Corporation, according to science and technology consulting firm BryceTech. These 134 launches accounted for 83% of all spacecraft launched last year. According to a July report by Bloomberg, SpaceX was valued at $400 billion.
SpaceX’s Dragon capsule and Falcon 9 rocket are the primary means by which NASA launches astronauts and supplies to the International Space Station. The company’s Starlink satellites have become indispensable for providing internet access to remote areas as well as to U.S. allies during wartime. The company’s Starship rocket, though still in testing, is also key to the U.S. plan to return to the moon. SpaceX is also building a network of spy satellites for the U.S. government called Starshield as part of a $1.8 billion contract. Even competitors including Amazon and OneWeb have launched their satellites on SpaceX rockets.
“The ecosystem of space is changed by, really it’s SpaceX,” Garver said. “The lower cost of access to space is doing what we had dreamed of. It is built up a whole community of companies around the world that now have access to space.”
Sanjay Beri, chief executive officer and founder of Netskope Inc., listens during a Bloomberg West television interview in San Francisco, California.
David Paul Morris | Bloomberg | Getty Images
Cloud security platform Netskope will go public on the Nasdaq under the ticker symbol “NTSK,” the company said in an initial public offering filing Friday.
The Santa Clara, California-based company said annual recurring revenue grew 33% to $707 million, while revenues jumped 31% to about $328 million in the first half of the year.
But Netskope isn’t profitable yet. The company recorded a $170 million net loss during the first half of the year. That narrowed from a $207 million loss a year ago.
Netskope joins an increasing number of technology companies adding momentum to the surge in IPO activity after high inflation and interest rates effectively killed the market.
So far this year, design software firm Figma more than tripled in its New York Stock Exchange debut, while crypto firm Circle soared 168% in its first trading day. CoreWeave has also popped since its IPO, while trading app eToro surged 29% in its May debut.
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Netskope’s offering also coincides with a busy period for cybersecurity deals.
Founded in 2012, Netskope made a name for itself in its early years in the cloud access security broker space. The company lists Palo Alto Networks, Cisco, Zscaler, Broadcom and Fortinet as its major competitors.
Netskope’s biggest backers include Accel, Lightspeed Ventures and Iconiq, which recently benefited from Figma’s stellar debut.
Morgan Stanley and JPMorgan are leading the offering. Netskope listed 13 other Wall Street banks as underwriters.