ZachXBT has emerged on social media, and Magnate Finance's website is now offline, with its Telegram group deleted. As previously reported, ZachXBT stated that the address of the deployer of the Base ecological lending agreement, Magnate Finance, is directly related to the exit scam.

According to KOL PAULY, who has over 150,000 followers on X (formerly Twitter), the true identity of the founder of PEPE is Zachary Testa, who currently resides in Arizona and is active on social media under the usernames z (@degenharambe) and Lord Kek (@LordKekLol). Zachary Testa was born in 1997, graduated from Arizona State University in 2018, and is now a professional photographer.

According to the official Twitter of CertiK, be wary of false promotions of PePeCoin airdrops on social media. Users should not interact with hxxps://live-pepe as this website will connect to a known automatic coin theft address.

The 'Opepen Edition' Ethereum NFT collection, which features Pepe meme-inspired graphics and was initially curated by artist Jack Butcher, has experienced a surge in value and popularity thanks to social media hype. Despite being initially distributed for free, the floor price of the collectibles has risen from 0.47 ETH to 0.90 ETH in just five days, with a current floor price of 0.81 ETH.

Sriram Krishnan, a partner at venture capital firm Andreessen Horowitz (a16z), delivered a keynote speech at the Ethereum Community Conference 6 (EthCC) where he presented how Web3 can solve the problems of social media and consumer applications. Krishnan emphasized that social media is outdated and needs to change.

Huobi, a major global exchange, has responded to unfounded claims of a decline in assets circulating on social media. The exchange released a statement based on data and facts, confirming that the total assets held in custody for users exceed $3 billion.

July 4 (Cointime) - Mark Zuckerberg is reportedly launching the 'Threads' app as a direct competitor to Twitter, following the platform's new restrictions on daily user activity. The upcoming app is seen as a strong rival to Twitter, given Zuckerberg's experience in running Instagram and Meta's history in social media. The app's launch could provide an opportunity for users, assuming it doesn't offer paid services for a considerable amount of time.

June 25 (Cointime) -Bluesky, a public benefit company focused on developing technologies for open and decentralized public conversation, has published proposals for new moderation and safety tooling. The first proposal focuses on user lists and reply controls that can be used for community-driven moderation. The second will focus on moderator services to handle problems that small communities cannot manage alone. The third is for hashtags, which are not directly related to moderation but can have a large effect on customizing what users see. Bluesky aims to turn social media into a shared public commons where communities own and govern themselves with the help of tools provided by the company.

June 23 (Cointime) - Social media is plagued by digital fraud, with scammers creating fake accounts to trick unsuspecting victims into sending them money. To combat this issue, some have turned to blockchain technology to create a decentralized social identity verification system.

June 22 (Cointime) - Ledger, a hardware wallet manufacturer, has been accused by disgruntled users of deleting negative social media posts after releasing open-sourced access to its Recover feature. The company released a white paper to allay public fears that its Recovery feature opens backdoor access to users’ seed phrases.