Facebook has blocked all ads that encourage cryptocurrencies from its site – even legally trading exchanges.
The social networking site, with two billion active monthly users, stated that the move covers ads for “financial products and services frequently related with misleading or deceptive promotional practices” and is developed to terminate “get rich” scams from being advertisied.
One of Facebook’s ad tech directors, Rob Leathern wrote, “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices.” He also said, “We will revisit this policy and how we enforce it as our signals improve.”
CNBC mentioned, however, that Facebook’s board of directors involves two investors, Peter Thiel and Marc Andreessen, whose companies have been famous crypto backers.
Bitcoin forks to generate interest-bearing coin
Bitcoin Interest is the recent fork from Bitcoin. The principal plan is to generate a decentralised method to saving. Holders of BCI coins will get a weekly or monthly grant of interest, which is evaluated by how many coins are created and placed in the “interest pool” as well as how many users are participating in any interest period.
It is anticipated that the returns will, at the very least, excel those on offer from regular banks. The key benefit, though, is inspiring people to hold – or “hodl” in crypto-speak – their coins and minimize the present trading-based volatility.
SBI Holdings generates latest exchange to trade Ripple
SBI Holdings, Japan’s leading financial service company, is to generate a latest digital assets exchange known as the SBI Virtual Currencies – and that Ripple (XRP) will be the only currency supported at launch. SBI Virtual Currencies launched its beta on January 30.
CEO and executive chairman of SBI Holdings, Yoshitaka Kitao stated, “Not only does it have a clear use case, XRP is faster, cheaper and more scalable than any other digital asset.” He also mentioned, “I strongly believe it will become the global standard in digital currencies.”
Waitlist for latest trading app Robinhood passes a million
Startup trading app Robinhood Financial, which is going live in February, now has more than one million traders on its waitlist, the company stated. The new platform – which will only be available in five US states at launch – will provide no-fee trading in cryptocurrencies, stocks and ETFs.
The company will create revenue from interest on funds held in margin lending, cash accounts and eventually fees for higher-value brokerage services.
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