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Facebook's Libra Spooks China Into Rushing Central Bank 'Crypto'

facebook, libra, crypto, china

By CCN Markets: We now know the reason why China’s central bank appears to be rushing to issue its “cryptocurrency” as quickly as possible. Beijing, reports suggest, is worried that Facebook’s Libra “cryptocurrency” will launch first. Communist Party Mouthpiece: China Wants to Beat Facebook With Knock-Off 'Crypto' According to English-language newspaper China Daily, the People’s Bank of China...

Facebook Contractor Spies on Horrified Moderators. When Does It End?

mark zuckerberg

Facebook released a video last year apologizing for its data misuse that likely swayed the 2016 election. It ends by saying “if this place does what it was built for, we all get a little closer.” That is the problem, Facebook. It's time to back off. The Intercept just released an exposé detailing how managers at the Austin, Texas outpost have been pressuring trauma counselors to release...

Privacy Shocker: Did Facebook's Libra Plans Just Go Up in Smoke?

mark zuckerberg, facebook

By CCN Markets: 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...

Court Slams Facebook, Allows Privacy Class Action Worth Billions

Facebook Class Action, facebook, Mark Zuckerberg

Facebook and Mark Zuckerberg just had their ears boxed by the 9th US circuit Court of Appeals regarding privacy concerns related to Facebook's facial recognition technology. The decision by the court opens the possibility of a massive Facebook class action lawsuit that might cost it billions of dollars. Facebook Collecting Data?  Say It Isn't So! Back in 2015, number of Facebook users in Illinois...

Walmart Cryptocurrency Won't Suffer Facebook's Dismal Libra Fate: Analyst

walmart cryptocurrency

Cowen, a veteran analyst and research group, believes that Walmart will face less political opposition than Facebook if and when it decides to launch its own cryptocurrency. Government Likes Walmart Better Than Facebook? Walmart revealed last week that it was looking into the creation of a stablecoin, via a patent filing. The digital currency variant could have amazing possibilities, given...

Facebook Poaches Ex-GOP Aide to Peddle Libra to Congress

Facebook, david marcus, libra crypto, "zuck buck"

Facebook has hired a former assistant to Republican Senator Mike Crapo as a lobbyist in their broader campaign to make Libra palatable to crypto skeptics on Capitol Hill. Susan Stoner Zook stopped working as an aide to Crapo back in 2013, according to her LinkedIn profile. From there she worked in various consulting and lobbying positions. Former Crapo Aide to Hawk Libra to Committee Chair and...

Facebook, Libra & the Thrilling Rise of the Branded Cryptocurrency

facebook, libra, crypto, china

It was hard not to feel compassion for Libra chief David Marcus, watching him deal with angry questioning in Congress two weeks ago. The level of distrust in Facebook has reached new highs - some of the Congressmen and Senators replaced questions with blunt criticism aimed at Marcus and the big blue company. Even Marcus, it felt, must have been surprised by the sheer cacophony of fear...

Forget Facebook: Walmart Just Might Reshape Crypto Forever

walmart crypto patent

Like as not, you’ve heard the news: Walmart has laid the groundwork to create its own "cryptocurrency." The move to patent a blockchain-based stablecoin variant generates speculation. Is Walmart trying to compete with Facebook Libra? Will CEO Doug McMillon be hauled in before legislators to defend his company’s right to innovate? Will the token ever actually launch at all? Too early to tell. Does...

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