Tag Archives: Facebook

When Facebook unveiled its Libra whitepaper back in June 2019, it already announced that it will be backed by a number of global fiat currencies. However, this time, the social media giant has shared additional details about the Libra’s fiat-pegged options.As per the Bloomberg report, Facebook told the U.S. senators that each Libra token will be supposedly tied to fiat currencies like Euro, Yen, British Pound, U.S. Dollar, and Singapore Dollar. However, the Chinese Yuan is exempted from the...

While Ripple has been selling off its XRP asset holdings worth hundreds of millions of dollars, the cofounder is blazing another trail at his present operation. Jed McCaleb’s Stellar Foundation plans to give away almost $126 million in XLM which notably contrasts Ripple’s selling. Keybase users can now chat with their friends and get paid to do it. The Stellar Development Foundation announced on September 9 a 2 billion XLM airdrop.The airdrop is the biggest in Stellar’s 5-year history. In the...

Dutch millionaire John de Mol, who created the hit reality television program “Big Brother,” is suing Facebook over phony bitcoin ads. He’s now asking the court to issue a ruling on the case.De Mol Wants the Courts to InterveneFacebook has been at the center of controversy for several years, starting with its alleged ties to Cambridge Analytica which were discovered in 2018. Facebook had purportedly been selling users’ private data to third parties for advertising purposes. Mark Zuckerberg...

Switzerland's central bank is running scared over its control on monetary policies in the face of stablecoins pegged to foreign currencies. | Source: Shutterstock; Edited by CCNSwitzerland’s central bank is fretting over the possibility of stablecoins pegged to foreign currencies eroding its ability to use its monetary policy tools effectively, further complicating the path for cryptocurrency projects such as Libra.This was revealed by the chairman of the governing board of the Swiss...

Facebook's crypto scheme appears to have spurred regulators to take the social media giant's privacy scandals more seriously. | Source: REUTERS / Aaron P. BernsteinFollowing reports earlier today that dozens of state attorney generals were set to officially commence antitrust investigations into Big Tech behemoths Facebook and Google, New York Attorney General Letitia James confirmed that at least one of the companies would indeed face government scrutiny.Unsurprisingly, it's the one that...

The European Union's AntiTrust Chief is scrutinizing Facebook's much-publicized crypto, Libra. | Source: ShutterstockEU regulators are investigating if the Facebook Libra "cryptocurrency" poses a threat to competition by being a potential monopoly.Margrethe Vestager is the outgoing antitrust chief of the European Union. She's gravely concerned that Libra could violate antitrust laws.EU: Facebook Libra must not stifle competitionTo address this, Vestager says European regulators are examining...

Facebook's much-publicized and criticized crypto 'Libra' will see competition by one of the world's biggest tech companies, Amazon, a report has claimed. | Source: Shutterstock; edited by CCN.Since Facebook announced the Libra cryptocurrency, a couple of other similar projects have been unveiled with all of them being dubbed potential ‘Libra-killers’.They include Venus, an initiative by Binance to 'develop localized stablecoins and digital assets pegged to fiat currencies across the globe',...

By CCN.com: As if Facebook didn’t have enough privacy issues, the company now confirms that it has been transcribing the audio chats of its users for quite some time. Facebook Claims It Wasn’t Being Sneaky Facebook claims that the only conversations that were transcribed were from those users who selected that option in the Messenger app. Facebook also claims that it was on for the sole purpose of making sure the transcription application was performing properly. Needless to say, it is...

The founder and CEO of Chinese telecommunications giant Huawei, Ren Zhengfei, has dismissed concerns that Facebook’s planned cryptocurrency Libra could dominate the world at the expense of China and its tech firms, Sina reports.Noting that countries have more power compared to internet firms, Zhengfei stated that China could issue its own digital currency that would rival Libra:China can also issue such a currency by itself. Why wait for others to issue it? The power of a country is always...

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law.“Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA). We have had preliminary discussions with FINMA and expect to engage with them on an appropriate regulatory framework for...