- Brazil’s ban on X sparks a battle over free speech between Elon Musk and the legal authorities, leaving Brazilians and the local crypto community caught in the crossfire.
- The prohibition on social media platform X has significantly impacted Brazil’s blockchain industry, deeply affecting communication and promotion strategies for professionals and organizations across the sector.
- “X is used to reach the global audience, so if you don’t have X for your marketing strategy, it’s like losing an arm,” said Victor Cioffi of Solana Superteam Brasil.
This detailed article delves into the aftermath of Brazil’s X ban and its far-reaching impact on the local crypto community and industry professionals.
The Fallout from Brazil’s X Ban
The outage of social media site X on August 30, 2024, has created ripples across the Brazilian crypto sector. Nearly 22 million users were cut off from X when Brazilian Supreme Court Justice Alexandre de Moraes halted the platform over accusations of fostering misinformation related to former President Jair Bolsonaro. This suspension has severed an essential communication lifeline for the Brazilian crypto community, affecting everyone from researchers and influencers to accelerators and conference organizers.
Impact on Crypto Firms and Influencers
Several influential figures and organizations have detailed the consequences of losing X. João Ferreira, co-founder and CEO of decentralized finance app Picnic, noted a significant reduction in outreach and engagement. “As a founder, in terms of fundraising and connecting with VCs and other key figures, this ban is a severe setback,” he added. Another influencer mentioned their audience dwindling by two-thirds and expressed concerns over the erosion of their follower base, describing it as losing a “treasure.” Post-ban, the Brazilian crypto sector has seen an uptick in the adoption of alternative platforms like YouTube Community, Substack, Instagram, Farcaster, Threads, and Nostr.
Effect on Crypto Conferences and DAOs
Crypto conferences, a cornerstone of the industry, are also struggling to adjust. Daniela Zschaber, product manager at Blockful and organizer of ETH Floripa, highlighted the difficulties posed by the X ban. “Without X, crucial data on event engagement and potential sponsorships is lost, severely hindering coordination,” she commented. Similarly, Decentralized Autonomous Organizations (DAOs) have been obstructed, losing the practicality and efficiency of real-time updates on X. This discontinuation disrupts both logistical operations and the relay of important security alerts, affecting regular crypto holders as well.
Conclusion
While the debate over the legitimacy and impact of Brazil’s X ban continues, one thing is clear: it has significantly disrupted the local crypto industry. Professionals and organizations are experiencing substantial setbacks in communication, engagement, and operational efficiency. As Brazil navigates these turbulent waters, there are growing calls for alternative solutions and a reevaluation of the measures impacting free speech and industry functionality. The long-term effects of this ban remain to be seen, but adapting to new channels will be crucial for the resilience of Brazil’s blockchain community.
