Posted on

Senate hostile towards Libra Facebook suggests regulators must act or risk losing US dollar dominance to Bitcoin

Senate hostile towards Libra, Facebook suggests regulators must act or risk losing US dollar dominance to Bitcoin                                   The focus of the hearing between Facebook’s David Marcus and the Senate on the Libra cryptocurrency was trust —or the lack thereof. Marcus, the head of Calibra, strongly suggested that if the U.S. doesn’t act […]

Posted on

Facebook Reportedly in Talks With Crypto Exchanges to List New Coin

Facebook Reportedly in Talks With Crypto Exchanges to List New Coin                                   New reports suggest Facebook’s rumored stablecoin project is making significant headway. Anonymous sources reportedly close to the project have revealed the social media titan has approached a number of crypto exchanges to list its coin. Facebook’s Crypto Token to Roll Out […]

Posted on

BREAKING NEWS: Facebook Uncovers Political Influence Campaign

Facebook Uncovers Political Influence Campaign Ahead of Midterms. San Francisco (AFP) – Facebook said Tuesday it shut down more than 30 fake pages and accounts involved in what appeared to be a "coordinated" effort to stoke hot-button social issues ahead of November midterm US elections, but cannot identify the source despite hints Russia was involved. […]

Posted on

First Suit Filed re: Facebook’s Stock Plunge

First Suit Over Facebook's Stock Plunge Is Filed in Manhattan Federal Court The first shareholder suit was filed Friday against Facebook in the Southern District of New York over the erasure of $100 billion in value just one day after the social media giant's stock plunged. The 24-page complaint was filed by Pierce Bainbridge Beck Price & Hecht […]

Posted on

Stocks In For Rough Thursday

Tech Reckoning: Tech stocks had never been higher. Then Facebook reported earnings. Thursday's going to be ugly. Facebook's (FB) stock tumbled as much as 24% in after-hours trading Wednesday, after its chief financial officer warned that its sales growth would slow. Concerned that the problems facing Facebook aren't unique, investors sold off the whole tech sector Wednesday evening. […]

Posted on

Facebook Lost 1 Million Users

Facebook Lost One Million Monthly Active Users To GDPR. GDPR had real consequences for Facebook, if only slightly. The European Union's General Data Protection Regulation had a tangible impact on Facebook's user base — if only just. While discussing its second quarter earnings, the social network revealed that it lost about 1 million monthly active users […]

Posted on

90-Minute Facebook Call: 150B Wiped Out

What happened on Facebook's nightmare conference call that wiped out nearly $150B in market value in 90 minutes? Facebook's stock dropped by a whopping 24% after it announced its second-quarter financial results on Wednesday.   The plunge came after Facebook executives said the company expected a significant slowdown in its revenue growth in the years […]