Business News facebook Libra Op-ed 

Facebook Stock Has Bigger Problems Than That Ugly Earnings Report

Facebook’s share price plunged after an ugly quarterly report. A rise in the company’s operating costs spooked investors. But Facebook has bigger problems over the long term. There’s a simple reason why Facebook stock is in free-fall today. The Mark Zuckerberg-led social media giant has peaked. FB shares slid more than 6% on Thursday after Facebook reported mixed Q4 earnings. Earnings per share ($2.56) and revenue ($21.08 billion) outperformed. But there was another figure that loomed much larger: a massive 51% increase in operating costs and expenses, which rose to $46.71 billion…

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facebook Libra Mark Zuckerberg Op-ed U.S. Business News 

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

A Facebook partner is spying on its own traumtized content moderators, giving us even more reasons to distrust Mark Zuckerberg’s company. | Source: AFP PHOTO / Brendan Smialowski 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…

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Cryptocurrency News facebook Libra Op-ed U.S. Business News 

Did Facebook’s Libra Plans Just Go Up in Smoke?

Facebook reveals that it has been transcribing user audio chats without disclosing that fact, raising even more questions about privacy. | Source: REUTERS/Leah Millis/File Photo 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…

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Bitcoin Regulation Cryptocurrency News facebook Guest Contributor Libra Op-ed Uber 

Facebook, Libra & the Thrilling Rise of the Branded Cryptocurrency

The rise of Facebook’s Libra project ushers in a new era for fintech and heralds the rise of the “branded cryptocurrency.” | Source: Shutterstock 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…

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Cryptocurrency News facebook Libra Op-ed U.S. Business News walmart 

Walmart Just Might Reshape Crypto Forever

Facebook & Libra are old news. Walmart’s surprise crypto patent could reshape the industry forever if it ever actually launches. | Source: Shutterstock. Image Edited by CCN. 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….

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Entertainment Libra Mark Cuban Op-ed U.S. Business News 

Tech Billionaire Mark Cuban Doubles Down on Potentially Deadly Libra

Libra is under attack from a big name in the tech world, again. Mark Cuban, the billionaire owner of the Dallas Mavericks and recurring Shark Tank guest, has already called Facebook’s new digital currency “dangerous” and “a big mistake.” Now he’s doubling down on that prediction, suggesting that it could be even worse than he previously imagined. Libra’s Lethal Potential He recently went on “The Vergecast” to elaborate on why the project is unsafe.  “When you get a company like Facebook, with the power and leverage and the financial resources…

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Circle Cryptocurrency News jeremy allaire Libra Stablecoins 

Jeremy Allaire’s Circle the Latest to Distance Itself from Facebook’s Libra

Jeremy Allaire’s Circle issued a U.S. dollar-backed stablecoin before stablecoins were cool. Now that Facebook has joined the fray with its Libra coin, which is designed to be backed by a basket of fiat currencies (and maybe other financial instruments), the spotlight on stablecoins has grown brighter. But Allaire, who is testifying in front of the U.S. Senate on July 30, wants lawmakers to understand the stark differences between USD Coin and Libra. Allaire isn’t alone, as Ripple CEO Brad Garlinghouse recently urged Congress not to “paint all digital currencies…

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Cryptocurrency News facebook Libra Lou Kerner U.S. Business News 

Facebook Is Dying and Libra Is Dead on Arrival

Ask not for whom the bell tolls, Facebook. It tolls for thee, says bitcoin bull Lou Kerner. The crypto investor says Facebook is on its last legs, and even its over-hyped stablecoin project, Libra, can’t save it. Kerner made the ominous predictions in a Medium blog post, where he rebuked Wall Street for being blind to Facebook’s obvious deterioration because of the investment community’s misguided focus on revenues. Lou Kerner: Facebook’s user engagement is tumbling According to Kerner, the most important metric that analysts should focus on is Facebook’s year-over-year…

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Equifax ftc Libra U.S. Business News 

Equifax to Pay Fine, FTC Lets Another Bad Guy Off the Hook

The Federal Trade Commission (FTC) is coming down on Equifax Inc with the strength of an angry kitten. The credit bureau is reportedly expected to pay around $650 million after they exposed the private information of more than 145 million customers in the summer of 2017. The information included names, addresses, driver license numbers, and Social Security numbers. Equifax waited nearly two months before reporting one of the largest security breaches in U.S. history. Hackers were able to access a security flaw that the company knew of but failed to…

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amazon Cryptocurrency News Jeff Bezos Libra Mark Zuckerberg 

Jeff Bezos Could Do a Better Job with Libra: ‘Bitcoin Billionaires’ Author

The writing is on the wall that Mark Zuckerberg has completely botched the planned Libra rollout. Even if the digital currency ever sees the light of day, it’s not likely to be within Facebook’s own timetable of 2020. And the coin already has a stigma attached to it thanks to the shellacking that Congress gave David Marcus, Zuckerberg’s wingman. Ben Mezrich, the author of “Bitcoin Billionaires,” believes that Libra would have had a much better shot if Facebook wasn’t at the wheel, telling CNBC; “I think that Amazon could pull…

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