Facebook shares climbed on Friday following a report that detailled the social network's plans to launch a digital currency, due to be unveiled next week.
Separately, a Facebook spokeswoman confirmed reports that British bank lobbyist Ed Bowles is joining the company, but declined to comment further. Bowles's new title at Facebook will be public policy director for Northern Europe, according to a person familiar with the situation.The stock rose as much as 2.5 per cent in morning trading, extending a recent uptrend, to rank as the best-performing stock in the Nasdaq 100, which slipped 0.4 per cent.
[The cryptocurrency] may prove to be one of the most important initiatives in the history of the company to unlock new engagement and revenue streams.The crytpo push could facilitate platforms including payments, shopping, applications and gaming, and would leverage Facebook's broad user base in Asia, where it has nearly four times as many monthly active users as it does in North America, Mahaney notes.
SunTrust added that it was "likely to take years" for any regulatory measure to be implemented and enforced, but the commentary echoes an argument that has been repeatedly made about Google-parent Alphabet, which is also facing antitrust scrutiny.
Crypto was fun once
I guess killing social media wasn't enough for them, they want to wreck the crypto market now apparently
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Accused Christchurch shooter to reveal plansBREAKING: There were gasps in the courtroom from victims of the Christchurch massacre when the accused gunman entered his plea. Yep the Alt-Left media is gunna make the most of this bastid, and only cause he's a 'white' 'male'. This should be entertaining... Why have a court case, everyone knows his guilty. Just lock him up for life of knock him off!
Source: newscomauHQ - 🏆 9. / 77 Read more »
Ecuador passes same-sex marriage in what LGBT campaigners say is a landmark weekEcuador's decision to allow same-sex marriage has topped a landmark week for sexual diversity, say campaigners marking the 50th anniversary of the LGBT rights movement.
Source: abcnews - 🏆 5. / 83 Read more »
The 13 biggest games set for release you need to ownThe world's largest video game conference has wrapped up in LA and people are seriously excited for a number of upcoming games, including two titles staring Keanu Reeves.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
'It's very Bob': the true believers farewell one of their own'It's very Bob': the true believers farewell one of their own | pitthen pitthen Don't think any other Australian will meet the sort of bloke he was,nobody else will ever get a send off like Bob Hawke did. He was one of a kind. The last of the true Australian.They should change the terrible National Anthem in his honour to The Land Down Under.
Source: smh - 🏆 6. / 80 Read more »
The Adani mine has now got environmental approval – so what next?While the Queensland government has given Adani the environmental approvals it needs to construct its mine, the coal is staying in the ground - for now.
Source: SBSNews - 🏆 3. / 89 Read more »
Boris Johnson surges in first ballot to determine Britain's next PMThe former London mayor, who has pledged to deliver Brexit on October 31, wins the first Conservative Party ballot destined to decide who will replace Theresa May.
Source: abcnews - 🏆 5. / 83 Read more »