The European Commission concluded that X misled users with its paid-for blue ticks, that it failed to set up an advertising repository properly, and that it delayed giving researchers access to platform data.
Elon Musk-led X has reportedly been fined €120 million ($140 million) by the European Union on Friday following a two-year investigation into the company over alleged violations of the EU’s online content rules.
According to a Bloomberg report, this is the first-ever fine to be levied under the EU’s Digital Services Act. The European Commission concluded that X misled users with its paid-for blue ticks, failed to set up an advertising repository properly, and delayed granting researchers access to platform data.
Hours before the EU announced its fine against X, Vice President JD Vance preemptively criticized it. “Rumors swirling that the EU commission will fine X hundreds of millions of dollars for not engaging in censorship. The EU should be supporting free speech not attacking American companies over garbage,” Vice President Vance said in a post on X.
XCORP is not listed publicly at the moment. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory at the time of writing.
€1 = $1.16<
Get updates to this developing story directly on Stocktwits.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<