Insiders: The EU accuses Musk's X of suspected misinformation violations, considering fines exceeding $1 billion

ChainCatcher news, according to Wall Street Journal reports, the EU plans to impose a hefty fine of over $1 billion on Musk's social platform X, due to X's alleged violations of the Digital Services Act, failing to effectively regulate false information and illegal content on the platform. Regulatory authorities are also advancing a second investigation against X, and may include the revenues of Musk's other private companies in the penalty base, potentially leading to a final fine that far exceeds expectations. Analysts believe that the EU's recent regulation of tech companies may be one of the reasons for Trump's announcement this week of imposing high tariffs on the EU.

The New York Times cited four informed sources revealing that EU regulators are preparing to impose heavy penalties on Musk's social platform X, as the platform is suspected of violating the Digital Services Act (DSA) regarding the fight against illegal content and false information. This penalty is expected to be officially announced this summer and may become the EU's first formal penalty under this law.