Facebook will only build its own Calibra cryptocurrency wallet into Messenger and WhatsApp, and will refuse to embed competing wallets, the head of Calibra David Marcus told the Senate Banking Committee today. While some, like Senator Brown, blustered that “Facebook is dangerous!,” others surfaced poignant questions about Libra’s risks.
One of the most-discussed plot twists in recent advertising has been the pivot of Direct-to-Consumer (DTC) brands to linear TV. These data-driven, digital-first players are expanding well beyond Facebook and Instagram—and becoming serious players on the largest traditional medium in advertising.
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A Swiss regulatory agency that Facebook executive David Marcus said in Congressional testimony would be responsible for overseeing data and privacy protections for the company’s newly launched cryptocurrency, Libra, has not been contacted by Facebook, according to a report.
The U.S. Federal Trade Commission has reportedly agreed to end its latest probe into Facebook‘s privacy problems with a $5 billion payout.
Five billion dollars. That’s the apparent size of Facebook’s latest fine for violating data privacy.
The head of Facebook’s blockchain subsidiary Calibra David Marcus has released his prepared testimony before Congress for tomorrow and Wednesday, explaining that the Libra Association will be regulated by the Swiss government because that’s where it’s headquartered. Meanwhile, he says the Libra Association and Facebook’s Calibra wallet intend to comply will all U.S. tax, anti-money laundering and anti-fraud laws.
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The trailer is out for Netflix doc The Great Hack, an early cut of which was screened at Sundance this year. I saw that cut during the fest and it was one of the wildest of a second wave of films trying to make sense of what the hell happened with Facebook and the election. A year ago, the tone was different. It was more shock and awe and impressionist art pieces. The Great Hack is part of a new breed that is making a serious attempt to put things into a narrative that normals can understand.
In a long-awaited decision, the Federal Elections Commission will now allow political campaigns to appoint cybersecurity helpers to protect political campaigns from cyberthreats and malicious attackers.