Since his takeover of then-Twitter in 2022, Mashable has reported that X's user base has declined, fleeing for alternatives like Bluesky, especially after the 2024 U.S. presidential election. Advertisers have been no different, with the trend of companies removing ads on X expected to continue this year.

Musk told employees about the controversial social network's financial struggles earlier this month, as US banks look to find buyers for the company's mammoth debt pile.

Banks are hoping to sell the X debt at around 90 to 95 cents on the dollar.

As Musk referenced in his email, the report says the banks hope to use the narrative of Musk’s link to Donald Trump, as some unnamed investors may be interested in buying based on a belief that its financials are on the way up.

By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -Wall Street banks are getting ready to sell up to $3 billion of debt holdings in X, the social-media platform controlled by Elon Musk, two people with knowledge of the matter said on Friday.

Australia's internet regulator says X refused to take down a video of a high-profile stabbing in Sydney that was watched by Axel Rudakubana just before he murdered three young girls in Southport. The body, eSafety, said it "noted with great sadness" that Rudakubana viewed the violent footage of the attempted murder of Bishop Mar Mari Emmanuel.

Investors can go directly to the source to find financial information on companies that are of interest to them. Company filings with the SEC can be accessed on the EDGAR database. Corporate websites also post their financial statements, annual reports, and press releases.

Musk’s gesture has received mixed reactions from politicians and academics, with some likening it to a Nazi salute and others saying it was an accidental action made in the heat of his victory speech.

The European Commission has completed its initial probe into social media platform X and will soon decide to impose a fine worth millions of euros, Germany's Handelsblatt newspaper reported on Friday,

Dozens of popular subreddits are banning links to X after Elon Musk made a gesture that historians and human rights groups have described as a Nazi salute. Communities that have instituted a ban on links to X include r/formula1, r/military, r/nursing, r/TwoXChromosomes, and r/nintendo.

Social network X has grown its in-app revenue over the past year, despite a decline in active users, new data shows. Global consumer spending in the X