The Federal Trade Commission has agreed to hand out a $5 billion fine on Facebook regarding its handling of user privacy during the Cambridge Analytica data breach. The Justice Department is now expected to review and approve the settlement.
While helping the crypto exchange Poloniex move $50 million worth of USDT from the Omni blockchain to the Tron blockchain, Tether inadvertently printed $5 billion worth during the transfer, citing human error.
With Facebook set to meet with the Senate on Tuesday and the House on Wednesday, Washington insiders report that lawmakers will be interested in Libra’s classification as a possible exchange-traded fund, what Facebook will do to ensure user privacy, and what the Swiss headquarters of the Libra Association will mean for US oversight of the […]
Members of the House Financial Services Committee are discussing the possibility of introducing legislation that would bar large technology institutions in the US from issuing cryptocurrencies.
Seed Digital Commodities Market LLC and Zero Hash LLC, subsidiaries of the crypto derivatives provider Seed CX, have both been granted BitLicenses from the New York Department of Financial Services. The department has now issued over 20 BitLicenses since it was introduced in 2015.
Study Exposes How Russia, Iran, & China Are Weaponizing Crypto It’s no secret that foes of the United States – including Venezuela, Iran, Russia, and China – are experimenting with cryptocurrency technology as they seek to render their economies immune to crippling US sanctions. However, a new study from the Foundation for Defense of Democracies […]
Trump’s Fed Pick Isn’t Just a Gold Bug – She’s Also a Crypto BullWhite House economic adviser Judy Shelton made headlines last week after President Donald Trump nominated her to the Federal Reserve Board of Governors. The mainstream press and finance industry were surprised to learn Trump’s Fed pick is a “gold bug.” She advocates […]
Binance to Burn Over $2.5 Billion of Its BNB Stash. Guess Who Benefits?Binance yesterday completed its eighth quarterly “burn” of BNB. With this move, the exchange follows its commitment to reduce the total token supply periodically. However, along with the obligatory token burn, Binance CEO Changpeng “CZ” Zhao announced that his company would relinquish its […]
FTC Nukes Facebook with Record $5B Fine and Zuck Will Laugh It OffThe Federal Trade Commission has whacked Facebook with a record $5 billion fine stemming from the 2018 scandal in which a political consulting firm improperly accessed Facebook user data. The fine comes as a result of settlement talks between the two entities. The […]
Since Facebook announced Libra, world regulators have been quick to express their fears surrounding the cryptocurrency, but Ethereum co-founder Mihai Alisie believes the project will do more to negatively impact all the good fortune blockchain tech has been able to harbor over the years.