Running Facebook GlobalCoin node will cost $10 million in licensing fees

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GlobalCoin, Facebook’s own cryptocurrency, will reportedly be announced this month. According to a report in The Information, the social media giant is set to provide more details about the coin and could allow its employees to take their salary in the form of the new token. Official announcement of GlobalCoin coming this month Rumors about…

Latest Hack Sparks Concern Whatsapp Will Never Be Secure

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Facebook’s popular messaging app with 1.5 billion users in over 180 countries has another major vulnerability. Hackers were able to covertly install spyware on iOS and Android smartphones using Whatsapp with just a phone call. “All of their security issues are conveniently suitable for surveillance, and look and work a lot like backdoors,” said Telegram’s…

Facebook allegedly raising as much as $1 billion for its cryptocurrency stablecoin

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Facebook is looking for VC firms to invest in its cryptocurrency project for sums as large as $1 billion, according to NY Times reporter Nathaniel Popper. The company is allegedly designing its crypto as a stablecoin for WhatsApp using a basket of foreign currencies as collateral. Since 2018 Facebook has been covertly working on a cryptocurrency…

Russian social media platform Vkontakte may launch cryptocurrency, potential access for 50 million users

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Vkontakte, a Russian social media platform and subsidiary of Mail.ru Group, is reportedly working on a cryptocurrency. According to RNS, a Russian news outlet, Vkontakte’s plan involves the creation of cryptocurrency wallets for its 50 million users on the social media platform. The project, if approved, will enable users to store and transfer Vkontakte’s native…

Facebook Acqui-Hires Team from Blockchain Platform Startup Chainspace

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Facebook acquired its first company in the blockchain space, smart contract protocol development and research firm Chainspace. The move was likely made to acquire the company’s team of experienced crypto developers. Chainspace is an 11-person company that was started by five well-credentialed co-founders, including two Cambridge PhDs, several researchers from the University College of London,…

Data Leaks and Deplatforming Drive Businesses Away From Web Giants

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Consumers and enterprises are exiting centralized web platforms amid growing concerns over unwarranted data sharing. Loss of privacy and data leakage are the primary drivers leading users away from web giants such as Google and Facebook. In some cases, disaffected users are seeking out decentralized alternatives that facilitate personal data ownership. Also read: Feed 7 Different…

Google to Partially Lift Cryptocurrency Ad Ban Starting In October

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On Sept. 25, Google announced it would be updating its financial products and services policy to allow advertisements from regulated cryptocurrency exchanges from the United States and Japan starting in October. Bakkt announces physical BTC futures against USD, GBP, and EUR. Google will reverse its crypto ad ban in Oct. Financial giants and crypto startups…

Facebook's David Marcus Steps Down From Coinbase's Board

Facebook's David Marcus Steps Down From Coinbase's Board

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David Marcus is stepping down from the board of directors at crypto exchange Coinbase, citing his new role at Facebook leading blockchain strategy.

What Volatility? How Facebook's Historic Loss Became Crypto's Gain

What Volatility? How Facebook's Historic Loss Became Crypto's Gain

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Facebook had a bad day in the market this week – and the crypto community quickly pounced.