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9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

<div class=”featured_image_container”> </div> <strong>On December 31, billionaire investor Mike Novogratz asked his Twitter followers which blockchain coin has the best chance of winning the payments race and offered four choices. Novogratz said there are lots of “contenders” and listed off Facebook’s diem, tether, bitcoin cash, and Circle’s popular stablecoin.</strong> This week Mike Novogratz asked his …

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Facebook unfreezes political ads in Georgia ahead of runoff elections

Facebook In the run-up to critical runoff elections in Georgia, Facebook will lift its ban on political advertisements in the state starting Wednesday, December 16th at 12pm ET. The company will work with authorized advertisers and prioritize those with direct involvement in the elections, including the campaigns and local officials. Facebook says it will reject …

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FTC kicks off sweeping privacy probe of nine major social media firms

Enlarge Aurich Lawson / Ars Technica The Federal Trade Commission is stepping up its digital privacy work and has asked just about every major social media platform you can think of to explain what personal data it collects from users and why. The requests for information went out today to nine platforms (or their parent …

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Carpe ‘Diem’: Lawsuit threatened over Facebook’s Libra rebrand plan

Facebook has been hit with threats of legal action over its plan to rebrand the Libra stablecoin project to ‘Diem’ from a finance application of the same name. Facebook announced its plan to rebrand Libra on Dec. 1, with the firm claiming the new name would help the revamped project distance itself from the intense …

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Testnet of Facebook’s Much Vaunted Stablecoin Only Executes 6 Transactions per Second

Asset Manager Vaneck Launches Physically-Backed Bitcoin Exchange-Traded Note On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed … read more. Major Australian Investment Firm …

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New Draft U.S. Law Will Make It Illegal To Issue Stablecoins Without Federal Reserve Approval

<div class=”featured_image_container”> </div> <strong>Three U.S. lawmakers have introduced a bill that will force private stablecoin issuers to obtain a banking charter (or license) and approval from the Federal Reserve before they can issue a stablecoin.</strong> Instigated by Rep. Rashida Tlaib, with support from Reps. Jesús García and Stephen Lynch – all of them Democrats – …

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Feds say Facebook broke US law offering permanent jobs to H-1B workers

Enlarge / Facebook CEO Mark Zuckerberg. Johannes Simon/Getty Images The United States Department of Justice sued Facebook on Thursday arguing that the social media giant discriminated against US workers by giving preference to Facebook workers on H-1B visas who wanted to transition to permanent jobs at the company. The H-1B visa program lets foreign workers …

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Facebook’s cryptocurrency project rebrands as Diem

Chip Somodevilla via Getty Images In the run-up to a rumored 2021 debut, Facebook has announced that the body behind its cryptocurrency project is being renamed. The Libra Association, which was designed to build a legal framework and support the coin itself, has now been rebranded as the Diem Association. In a statement, the body …

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Mark Zuckerberg sits down with Dr. Fauci to talk holiday COVID safety

POOL New / reuters In less than an hour, Facebook CEO Mark Zuckerberg will interview Dr. Anthony Fauci. You can watch the entire segment through Facebook Live at 3 PM PT / 6 PM ET. According to the company, Zuckerberg will talk to Dr Fauci about the COVID-19 vaccines that are in development and how …

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Facebook’s Libra currency to launch next year in limited format

Enlarge NurPhoto | Getty Images The long-awaited Facebook-led digital currency Libra is preparing to launch as early as January, according to three people involved in the initiative, but in an even more limited format than its already downgraded vision. The 27-strong Libra Association said in April that it had planned to launch digital versions of …

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