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China Can Crush Facebook's Libra With Its Digital Currency: Huawei CEO

Ren Zhengfei, Huawei

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...

Facebook Earnings: Zuckerberg Has a Dirty Little Secret

mark zuckerberg, facebook

Despite all the issues hitting Facebook, its business continues humming along. The social media giant released second-quarter earnings and, while the stock initially jumped in after-hours trading, it has since gone flat. The Big FB Numbers Revealed Here are the headline numbers. Revenue: $16.9 billion versus $16.5 billion estimated Earnings Per Share (EPS): $1.99 versus $1.88 estimated Daily...

Facebook's Crypto Libra a Ploy to Become 'Its Own Country’, Blasts UK MP

Damian Collins, Crypto, Libra, Facebook

The spotlight turned on Facebook over the past week by the U.S. Congress over its plans for the Libra cryptocurrency has only whetted the appetite for other countries to do the same. According to the Financial News, a British parliamentary committee has indicated that it will grill Facebook regarding its crypto project as worries grow that the social media giant’s move into payments and...

Facebook's Stock Falters as the DOJ Knives Come Out

facebook

Facebook's stock fell 1.5 percent in after-hours trading to $199.27 on two issues that may likely portend the future of the tech giant. Facebook Faces Frustrating Fracas There are a number of different issues facing Facebook right now. First of all, Facebook may have settled privacy issues with the Federal Trade Commission by paying a $5 billion fine, but that doesn't mean privacy issues are no...

Fake Libra Peddlers LOL-Swarm Facebook for Discount Crypto Scam

Libra, Facebook, Facebook Libra

Numerous fake accounts, groups, and pages operated by fraudsters have swamped Facebook and Instagram to mispresent themselves as the official hubs for the social media giant's upcoming Libra crypto, the Washington Post reported today. Fake Libra accounts with hundreds of followers Despite Libra's expected launch in 2020, a part of the scammers are already selling Facebook's crypto for a reduced...

Libra: Friend or Foe? Worst Case Scenario Post-Congressional Hearings

facebook libra

Facebook is in the hot seat this week, as Congress asks burning questions about the company’s Libra “cryptocurrency.” I use quotes, because in the purest sense, a cryptocurrency is decentralized, trustless, and permissionless. Libra is none of these. Instead, Libra is more likely to become a private currency that enables a turnkey totalitarian state with all-encompassing surveillance. While the...

Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra's Regulator

Facebook, Libra, Facebook Libra

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...

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