The financial health of major social media platforms like X is increasingly important to crypto conversations and communities. Following Elon Musk’s acquisition of Twitter, now rebranded as X, the platform’s UK operations are experiencing a significant revenue decline. According to filings with the UK Companies House, X’s UK revenue plummeted by 66.3% year-on-year in 2023 from £205.3 million to £69.1 million. This sharp decrease is not isolated and speaks to broader issues within social media platforms regarding advertiser confidence. Let’s explore the potential causes behind this financial freefall, including brand safety concerns, content moderation changes under Musk’s leadership, staff cuts, and increased competition.