X, the new name for Twitter, filed a lawsuit against the Center for Countering Digital Hate (known as CCDH).

The lawsuit alleges that the center has launched a smear campaign against the social media website owned by Elon Musk. The lawsuit says the center picked out data to make its case rather than taking all the available data as a whole. The damages, according to the lawsuit, have hurt the social media site’s relationships with various advertisers and caused a loss of revenue measuring in the millions of dollars.

The nonprofit claims that there has been a drastic increase in hate speech and discriminatory acts on the platform since Elon Musk took ownership. Musk’s company sued the nonprofit, but a US court has rejected the lawsuit.

According to the court that made the decision, the lawsuit was an obvious attempt to punish the nonprofit. It was also an effort, they say, to prevent other organizations from doing the same thing.

The lawsuit called out the data collection methods of the organization, but the court’s sentiment was that the platform was far more focused on the CCDH’s speech. According to the court, X Corp. would not have brought the lawsuit had CCDH not said anything against the platform.

The CCDH spoke out on their own behalf. Their founder, Imran Ahmed, said that he hopes this ruling will help other organizations and groups to speak out and “hold social media companies accountable” for the harm they allow to happen and the harmful people they host.

Ahmed said his concern was about disinformation and hate speech.

X Financial Impact Recap

X was a publicly traded company under the name Twitter, from 2013-2022. Once Musk took over, the company changed its name and went private.

Musk has had a major impact on cryptocurrency markets, especially the rise and continued presence of Dogecoin (DOGE). Recent statements from Musk and his company Tesla confirmed that Dogecoin would be used to purchase electric cars in the future.