Decentralized metaverse tokens have made steady gains this week despite a dump in the stock price of Meta Platforms. Meta Platforms, the parent company of Facebook, saw the largest single-day slide in market value for a United States company ever with a 26% fall in share prices on Thursday after the tech giant ha revealed…
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The news comes only one day after billionaire Andrew “Twiggy” Forrest announced he would be mounting legal action against the social media giant. Australia’s consumer and competition (ACCC) watchdog is investigating Facebook’s parent company Meta for a long running series of fraudulent cryptocurrency advertisements of the platform. The news comes just a day after Cointelegraph…
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A bloodbath for tech stocks, oil and more rattles crypto, with Bitcoin managing to steady without significant casualties. Bitcoin (BTC) recovered above $37,000 on Feb. 3 after a stocks rout took the wind out of bulls’ latest attempt to crack $40,000 resistance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Extraordinary moves” for stocks Data from…
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Silvergate Capital, an investment firm that is the parent company of the Silvergate Bank, acquired the technology and assets of Diem, the formerly Facebook-backed stablecoin payment system. The payment totaled $182 million. The technology and assets acquired will reportedly be used for the launch of a Silvergate branded stablecoin.
Silvergate Purchases Diem Operations
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The Aussie businessman said that Facebook’s failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was “criminally reckless.” Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman is accusing Facebook of…
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It only took Libra/Diem two years to come full circle from publishing its white paper to falling apart. On Jan. 31, Meta, formerly known as Facebook, announced that it was pulling from its stablecoin project, Diem, formerly known as Libra. Intellectual property and other assets related to the operations of the Diem Payment Network were…
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In the past year, internet giants like Amazon and Google all experienced outages which were blamed on errors and failed upgrades. The occurrence of such outages and their impact around the world again highlighted the importance of having a decentralized internet. Also, just like how the Covid-19 pandemic showed the world that blockchain-based digital currencies…
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According to the CEO of Instagram, Adam Mosseri, the social media application is looking into non-fungible token (NFT) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.” Instagram CEO: ‘We Are Definitely Actively Exploring NFTs’ Following the firm’s parent company Facebook…
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Facebook’s parent company Meta is determined to spend USD 60m to acquire the naming rights owned by the US bank Meta Financial Group, the latter company disclosed in a recent regulatory filing. Earlier this month, Meta Financial Group executed a purchase agreement with Beige Key LLC, a Delaware limited liability company. “Beige Key is…
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Canadian actor and the star of the ‘Matrix Trilogy’ Keanu Reeves expressed skepticism about non-fungible tokens (NFTs) and digital ownership during an interview with The Verge. When asked about his view on NFTs and the concept of digital scarcity, Reeves said they can be easily replicated and laughed. While some in the crypto community…
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