Brazil's Supreme Court has ordered banks to transfer nearly $3 million from Starlink and X accounts to cover fines levied against Elon Musk's social media platform. The court found that X violated Brazilian law by failing to appoint a legal representative and refusing to remove harmful content. The court froze X's and Starlink's accounts but released them after the funds were transferred. X's suspension in the country, imposed at the end of August, remains in effect. Musk has called the court’s actions illegal, while Brazilian authorities view the orders as asserting sovereignty.
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00:00It's Benzinga, and here's what's on the block.
00:03Brazil's Supreme Court has ordered banks to transfer nearly $3 million from Starlink
00:07and X's accounts to cover fines levied against Elon Musk's social media platform.
00:12The court found that X violated Brazilian law by failing to appoint a legal representative
00:16and refusing to remove harmful content.
00:19The court froze X's and Starlink's accounts, but released them after the funds were transferred.
00:24X's suspension in the country, imposed at the end of August, remains in effect.
00:28Musk has called the court's actions illegal, while Brazilian authorities view the orders
00:32as an assertion of sovereignty.
00:33For all things money, visit Benzinga.com.