Facebook Financial News

06.02 / 20:19

Facebook UPS As Facebook flounders, here’s why these META wordplay tokens are up by 1700%, 200%

Following its alliance with the crypto-sector, Meta [née Facebook] struggled to stay afloat as the company lost $251 billion in value within 24 hours and stock prices plunged by 28.69% over the last month. Employees scrambled to figure out their priorities and decide whether it was time to exit. But considering Meta’s foray into crypto, what ripples are these actions causing in the industry?

05.02 / 03:09

Facebook Digital Platform Facebook (FB) Hopes to Launch Digital Currency in 2021

Facebook, Inc. (FB) is hoping to launch its cryptocurrency next year. David Marcus, head of Facebook Financial, or F2, told audiences at the Singapore FinTech festival that he hoped the company could participate in changing the financial services industry by launching Diem, Facebook's proposed digital currency for use on its social network, and Novi, the accompanying wallet for its Libra blockchain, on its platform.

04.02 / 19:25

business Facebook NFT Majority of US consumers say no to Meta owning metaverse data: Survey

A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results.

04.02 / 07:15

Facebook Scams Fraud Aussie competition watchdog investigating Meta over crypto scam ads

Australia's consumer and competition (ACCC) watchdog is investigating Facebook’s parent company Meta for a long running series of fraudulent cryptocurrency advertisements of the platform.

04.02 / 05:57

business Facebook virtual reality Meta Platforms share price Rise of Web3: Metaverse tokens surge as Meta’s share price plunges

Meta Platforms, the parent company of Facebook, saw the largest single-day slide in market value for a U.S. company ever with a 26% fall in share prices on Thursday after the tech giant revealed disappointing earnings and a decline in daily active users.

04.02 / 02:21

Facebook NASDAQ DOW reports U.S. stock futures rally after earnings reports from Amazon and Snapchat

Stock futures rose in overnight trading Thursday as investors digested a slew of corporate earnings reports after the Nasdaq Composite posted its worst day in more than a year.

03.02 / 16:27

Facebook Provident PayPal Blue Whale’s Stephen Yiu on dumping Meta stock and why ‘it will get worse’

One of the UK's best-known retail fund managers is breathing a sigh of relief after dumping shares in Meta and PayPal ahead of the brutal selloff that wiped billions off the stocks.

03.02 / 12:39

Facebook UPS Platform What Facebook’s crushing projections mean for social media stocks

And just like that, Mark Zuckerberg and Meta Platforms blew up the internet sector.

03.02 / 12:33

Facebook Platform Facebook’s CFO warned of pending doom before the carnage. Now what?

Chief financial officer David Wehner has warned of impending financial doom at Facebook so many times that this column has dubbed him “the Chicken Little of Silicon Valley.”

03.02 / 10:27

Facebook market value Mark Zuckerberg Meta has to face the reality of $200bn loss in market value

Just a few months ago, Mark Zuckerberg was bobbing around in the metaverse as a legless avatar. Today in the real world, his company is staring at a roughly $200bn loss in market value.

03.02 / 03:55

Facebook Digital Decentraland What is Metaverse and Why You Should Consider Investing Now

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

03.02 / 02:25

Facebook NASDAQ DOW Meta Platforms Drop Nasdaq futures drop as Facebook leads tech shares lower

Nasdaq 100 and S&P 500 futures fell Wednesday night, as traders pored through the latest batch of corporate earnings, which included disappointing numbers from tech giant Meta Platforms.

03.02 / 02:25

Facebook Align Qualcomm Stocks making the biggest moves after the bell: Facebook, Spotify, Qorvo & more

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02.02 / 19:59

Facebook Libra Stablecoin Congress end Vale Diem: How Facebook’s ambitious stablecoin project came to an end

On Jan. 31, Meta, formerly known as Facebook, announced that it was pulling from its stablecoin project, Diem, formerly known as Libra. Intellectual property and other assets related to the operations of the Diem Payment Network were to be sold to Silvergate Capital Corporation, essentially meaning the end to Mark Zuckerberg and his corporations’ stablecoin aspirations, at least in their current shape. This also marks the end of a once-groundbreaking initiative that was revealed in 2019 with a promise to bring a global alternative to fiat money to Facebook’s 2-billion-strong user base. Here is how this plan went from the initial announcement to the shutdown.

02.02 / 14:11

Facebook UPS Platform Why Facebook’s metaverse venture could bite profits

Facebook parent Meta Platforms is expected to post rising revenues but a modest decline in profit as it ramps up spending to execute the pivot to the metaverse as outlined late last year by chief executive Mark Zuckerberg.

02.02 / 13:31

Facebook Government Stablecoin Bitcoin Diem stablecoin co-founder praises Bitcoin for censorship resistance

Shortly after Meta, formerly Facebook, officially gave up on its stablecoin Diem, some of the key people in the project have become increasingly vocal about the uncensorable nature of Bitcoin (BTC).

02.02 / 12:43

Facebook Ethereum cryptocurrency Bitcoin Death knell for Mark Zuckerberg's crypto dreams after regulators block Meta's Diem

A once-ambitious but now faltering Facebook-backed digital currency project known as Diem is dead, its assets sold to bank holding company Silvergate Capital.

02.02 / 05:51

Facebook Libra Twitter Bitcoin Time Jack Dorsey: Diem was a waste of time, Meta should’ve focused on BTC

Twitter founder Jack Dorsey said that Meta’s failed cryptocurrency project Diem was “wasted effort and time,” and it should have focused its efforts on “making Bitcoin more accessible for everyone.”

01.02 / 14:22

Facebook FIVE Digital CEO Executive This executive is the latest to urge the need for Metaverse-related regulations

The hype and speculations around the Metaverse hit an all-time high in 2021. In fact, mentions of the keyword ‘Metaverse’ rose by over 135% in Q4 earnings transcripts following Facebook’s Meta announcement. This marked a smooth inclusion under the “niche” market umbrella that includes cryptocurrencies as well. Similar to digital assets’ rise over the years, regulatory concerns have now fueled a ‘blurry’ narrative around the same.

01.02 / 12:11

Facebook Libra Stablecoin Mark Zuckerberg’s stablecoin project Diem officially shuts down

Meta, formerly branded as Facebook, has officially announced the closure of its digital currency project Diem after years of major efforts to move forward with the initiative.

01.02 / 08:01

Facebook Silvergate Facebook's cryptocurrency venture to wind down after asset sale to Silvergate

Silvergate Capital Corp, Diem said on Monday, ending the tech giant's ambitious push to get its billions of users transacting in its own currency. Silvergate said in a separate statement that it had paid $182 million for Diem's intellectual property and other assets. The sale was the culmination of several years of struggle for Meta's fintech unit, which lost most of its leadership, including director David Marcus, amid an exodus of staffers in the fall.

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