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Facebook, Square, PayPal and Others Told to Hand Over Payments Info to Consumer Finance Watchdog
The Consumer Financial Protection Bureau wants to see information about the payments products, plans and practices of Google, Amazon, Apple, Facebook, Square and PayPal.
US Lawmakers Push Back on Facebook’s Novi Wallet Launch
A group of U.S. lawmakers have ordered Facebook CEO Mark Zuckerberg to “immediately discontinue the company’s pilot of Novi” and end its work on the Diem stablecoin project, saying the social media giant cannot be trusted to launch a digital currency. "The Hash" team discusses Facebook's latest regulatory hurdle.
CBOE Acquires ErisX in Return to Crypto Derivatives Market
CoinDesk’s Nikhilesh De discusses the outlook for the Chicago Board Options Exchange (CBOE) as it is acquiring crypto spot and derivatives marketplace ErisX, which will need approval from the CFTC and around 40 different state regulators to finalize. Plus, his take on U.S. lawmakers pushing back on Facebook’s Novi wallet launch.
US Lawmakers Push Back on Facebook’s Novi Wallet Launch
A group of Democrat senators is taking umbrage with a pilot launch involving Novi and Paxos’ USDP stablecoin.
Facebook’s Novi Taps Paxos, Coinbase Ahead of Diem Rollout
Novi, Facebook's digital wallet subsidiary, will go live in the U.S. and Guatemala in a pilot program without the Diem (formerly Libra) stablecoin, allowing users to trade the Paxos Dollar (USDP). Crypto exchange Coinbase will provide custody services for the program. "The Hash" team discusses the latest in the ongoing Diem drama despite ongoing regulatory pushback.
Facebook Wants to Hire Up to 10K People in EU to Build 'Metaverse'
Facebook is looking to hire 10,000 people in Europe to build out a metaverse program, catered for everyone. "The Hash" hosts discuss the implications for Facebook getting into the metaverse, an area growing in interest from VCs, and what it could mean for Europe's tech industry during a time of increased scrutiny of the company by EU and U.K. regulators.
How Signing In With Ethereum Allows Users to Control Their Own Data
As the dangers of letting Facebook control online identities are becoming increasingly evident, some suggest using Ethereum wallets could be an alternative to allowing users better control their own data. "The Hash" hosts discuss the concept of decentralized identity, and how signing in with Ethereum could be a significant step towards that future.
Unstoppable Domains CEO on Bitcoin’s Outlook After September Doldrums
Matthew Gould, CEO of blockchain domain name provider Unstoppable Domains, discusses his reading of the trend of September doldrums in the crypto markets and his “still very bullish” outlook for bitcoin. Plus, his reactions to Facebook’s major outage and the case for Web 3.0.
Web 3 Is Where the Young People Are
The massive Facebook outage caused major disruptions yesterday, but also showed how attention is shifting away from gated, centralized platforms.
Facebook Outage: Could Crypto Shut Down?
Facebook went down Monday for a little over five hours due to configuration errors, with the damage reportedly costing an estimated $65 million. This comes as the social media giant faces allegations its platforms promote toxic content and harm users. Could the same error make crypto networks go offline? "The Hash" panel discusses the implications for the fragility of the internet at large, highlighting the importance of Web 3.0 and decentralization.