Meta, the company behind Facebook, is reportedly trying to develop its own token – not a cryptocurrency – to support its ambition of connecting users through the Metaverse. More tokens may be developed to facilitate the realization of the project, the report outlined. The newly explored token is like ROBUX for another metaverse Roblox reported...Read More
Deutsche Bank, a former cryptocurrency critic, believes Meta’s decision to integrate NFTs into one of its companies – Instagram – will legitimize those assets. Instagram Will Legitimize NFTs According to a report note released by Deutsche Bank on Sunday, cited by Coindesk, the deployment of NFT technology on Instagram has the potential to energize the...Read More
The Australian Competition and Consumer Commission (ACCC) instituted Federal Court proceedings against Meta Platforms (formerly Facebook) for featuring misleading and deceptive cryptocurrency advertisements. The watchdog informed that one of the victims lost nearly $500,000 due to the fraud. The ACCC vs. Meta The Australian regulator vowed to sue Meta for promoting fraudulent investment and money-making...Read More
Meta (formerly Facebook) threw in the towel on its grand plans to create a digital currency last year. Earlier in 2022, though, it sold the remaining assets to Silvergate Capital for $182 million. The team behind the original Diem project announced they were working on a new blockchain called Aptos in late February. On March...Read More
Mark Zuckerberg – CEO of Meta (formerly Facebook; owner of Instagram) revealed today that Instagram will be integrating NFTs into its platform. Speaking at SXSW, the billionaire confirmed that the digital collectibles would come to Instagram “in the near term”. He shared little detail about what role NFTs would play on the platform, but suggested...Read More
The brains behind Meta’s former Diem project have unveiled plans to launch the blockchain network as a separate protocol with support for other web3 solutions. Also, the announcement includes a name change to Aptos. Former Diem Developers to Relaunch Protocol Some members of the now-defunct Diem blockchain project have teamed up and announced plans to...Read More
Throughout its relatively brief history, Facebook’s digital asset project Diem (known initially as Libra) managed to capture the attention of the cryptocurrency community and, perhaps more importantly, global regulators. Over the years, it changed its concept, mission, and core idea several times, while watchdogs claimed it works against financial sovereignty and monetary stability. Additionally, there...Read More
Fortescue Metals Group Chairman Andrew Forrest has filed a criminal case against Facebook in Australia for its failure to stop scam ads featuring his image. According to the Australian mining billionaire, this is the first time that Facebook is facing a criminal charge anywhere in the world. “I’m doing this on behalf of innocent Australians...Read More
The world’s largest social media platform – Facebook – saw the shares of its parent company, Meta, plunge by more than 26% during yesterday’s trading session. Despite this, metaverse-related tokens have been surging for the past week. CryptoPotato reported yesterday that FB stock plunged over 22% during the after-hours trading session. The regular one wasn’t...Read More
Meta, the parent company of the social media giant Facebook, saw its shares plunge in the after-hours trading session. This comes as the company released its Q4 2021 report. Meta, formerly-known as Facebook, posted its Q4 financial report on Wednesday, and the results came short of analysts’ expectations. Facebook’s global daily active users decreased from...Read More
Meta (formerly Facebook) started the development of its own stablecoin Libra in 2019. Facing public backlash, it tried rebranding it to Libra. Now, Zuckerberg’s company finally gave up, selling Diem’s intellectual property to an investment bank. The former Twitter CEO, Jack Dorsey, shared his views on the failed project with Michael Saylor, the man in...Read More
The Diem Association – a cryptocurrency initiative backed by Meta – is reportedly considering the sale of its assets to return capital to its investors. The project is also in discussions with investment bankers about how best to sell its intellectual property and help the developers find new places to work. Diem Might Sell Its...Read More
Meta Platform’s (formerly Facebook) endeavors in the digital asset space may have been mired in controversy from the very start, but that has not deterred its efforts to explore new ways for users to utilize its cryptocurrency wallet, Novi. WhatsApp, the social media giant’s messenger subsidiary, has launched pilot crypto payments in the US with...Read More
