Brazil going back on its decision to ban X just weeks after it was implemented

The Brazilian Supreme Court has announced it will reverse its recent decision to ban, soon to be Texas-based, social media app X in the country.

The initial decision came in late August when Judge Alexandre de Moraes ruled that X should be banned in an attempt to fight misinformation in the country.

Specifically, Moraes wanted Musk to block specific accounts that he deemed to be dangerous. Moraes alleged that these accounts were part of a group of people known as digital militias. This group has been accused of spreading misinformation and making threats to public officials in Brazil.

Now, just weeks after that decision he is going back on that decision. According to CBS , the reversal comes as X has complied with all of Moraes's demands in order to have the suspension lifted. Last week, the judge confirmed that the company settled around $5.2 million in fines.

Musk recently announced X move to Bastrop

Elon Musk announced in July that he would be moving all his remaining companies to Texas after a public feud with California Gov. Gavin Newsom. Last week, in a somewhat surprising move, he announced that the new X headquarters would be in Bastrop, and not Austin.

SpaceX, Musk's spacecraft manufacturing company, already has facilities in Bastrop, where Musk is building the Hyperloop Plaza, which he imagines as a work-live community for his employees.

The presence that Musk already has with his businesses in Bastrop could be an early indication that he is further committed to building work-live environments in multiple locations in Texas.

X struggling financially since Musk takeover

There is no denying that X is now worth less than it was when Musk bought it. The business titan paid $44 billion for the company, and the latest market data shows it is now worth $19 billion.

Because of this, a report from The Wall Street Journal has called this the worst merger-finance deal for banks since the 2008-09 financial crisis.

Some of the devaluation can be attributed to a litany of scandals and changes that include a complete rebranding of the app, the addition of built-in AI, a new CEO, advertisers flocking away from the website — and Musk subsequently suing them in retaliation.

The app being banned in Brazil after Musk refused to suspend accounts the Brazilian government spotlighted was the latest in high-profile spats the company had before it was resolved this week.

Beck Andrew Salgado covers trending topics in the Austin business ecosystem for the American-Statesman . To share additional tips or insights with Salgado , email Bsalgado@gannett.com.

This article originally appeared on Austin American-Statesman: Brazil going back on its decision to ban X just weeks after it was implemented