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FTC orders AI chatbot firms to disclose child‑safety practices
The US Federal Trade Commission (FTC) sent compulsory 6(b) orders to seven AI chatbot operators, including OpenAI, Alphabet, Meta, xAI, Snap, Character Technologies and Instagram, demanding details on how their bots handle minors, monetize engagement and mitigate harm. Why Should People Care About Data Privacy?
Data privacy may not be the first thing many people think about in their everyday lives. So what if Google, Instagram, ChatGPT, or other services we use collects data? Maybe sometimes these tools will offer personalized recommendations and ads to save time, which won’t hurt. 
Match Group, the developer of popular dating services, has joined forces with the crypto exchanges Coinbase, Kraken, Gemini, and Meta (Facebook and Instagram) in a new initiative called Tech Against Scams. Together, they aim to combat the Pig Butchering scam, which involves building fake online relationships to steal assets. 
Meta, overseeing platforms like Facebook and Instagram, is set to implement a policy requiring users to tag all content generated by artificial intelligence. An automatic detection system for identifying such AI-created images, videos, and audio in posts is also in the pipeline. 
Aitana Lopez, also known as Fit Aitana, has captivated over 110,000 followers on Instagram with a steady stream of photos that showcase only her. Yet, Aitana isn't your typical social media influencer; she's an AI-generated virtual model, the brainchild of Barcelona's The Clueless agency. The company reports that Aitana's virtual influence brings in about $4000 monthly. Twitter Threatens Legal Action Against Threads
Twitter has sent a legal notice to Meta, the parent company of Instagram, regarding its recently introduced text-based platform named Threads. Twitter’s lawyer, Alex Spiro, sent a letter to Meta CEO Mark Zuckerberg accusing the company of unlawfully poaching former Twitter employees to create a “copycat” application. 
Community platform Towns raises $25.5 million in funding
It's impossible to imagine modern life without social media. However, Facebook, Instagram, and Twitter should not be complacent. In the midst of free speech restrictions and endless advertisements characteristic of Web2, Web3 startups are rapidly increasing 
Irene Zhao: Model’s Career in Crypto and Public Controversies
Irene Zhao is a Singapore-based Instagram model and a crypto influencer. She got into crypto in early 2022 when her NFT collection, IreneDAO, had a successful launch with over $5.5 million trading volume, according to data from OpenSea. IreneDAO NFTs drew the attention of YouTuber Logan Paul, who bought around 20 pieces for around $270,000. 
A tale of trust turned treachery: an American senior ventured into cryptocurrency investments guided by an online acquaintance from Instagram, resulting in a staggering loss of $240,000. Though wary of funneling substantial amounts into a dubious site at first, his initial crypto futures successes led him to up his investments. The insistence from his online friend to boost his deposit only fueled his decisions. 
“When my hometown team was on the verge of closing, I did everything possible to prevent it from happening. This is a club that went from amateurs to the Premier League. The local club that has become a symbol of strength and willpower for the people of Kharkiv,” shared the WhiteBIT founder on his Instagram. 
Hong Kong police have arrested Joseph Lam, a crypto influencer and former lawyer, in connection with the ongoing investigation into cryptocurrency exchange JPEX. Lam, who has over 190,000 Instagram followers, was arrested today and his office was raided. The arrest follows the Securities and Futures Commission's warning against JPEX for misleading statements about its licensing status. The police have received at least 83 complaints involving JPEX, with virtual assets worth about HK$34 million ($4.3 million) reported. 
The LoveChain: A Social Network Turning Content into NFTs
Social media platforms are no longer just places where people socialize. Users are increasingly trying to monetize their content and make money from their accounts. In this regard, Web3 networks are successfully competing with trending platforms like Instagram and TikTok.