US President Joe Biden called Twitter «a company that spreads lies around the world»

His statement was made during a fundraiser in Chicago on Friday, Bloomberg reports. Biden also added: «There are no moderators from America, there are no editors anymore.» Then he asked the audience: «How do we expect kids to understand what’s at stake?»

The president’s comments came shortly after Elon Musk acquired the social media giant, with Twitter being the most preferred platform for most people and projects in the blockchain industry.

The CEO of Tesla and SpaceX has already fired most of the senior executives from Twitter’s board of directors and will reportedly fire about half of the company’s employees.

Many, from individuals to human rights groups and the US president, have expressed concern about the potential lack of content moderation on the version of Twitter owned by Musk, a self-proclaimed supporter of free speech.

However, some industry representatives such as Binance CEO Changpeng Zhao, on the contrary, saw the acquisition as a positive signal for the development of freedom of speech on the Internet. Zhao himself commented on the matter, explaining the reason why his exchange provided Musk with a $ 500 million loan.