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Facebook’s Libra currency abandoned by major financial companies

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(Reuters) – Facebook Inc’s ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project. FILE PHOTO: Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration Read More

FTC’s antitrust chief, who spearheaded tech task force, to step down

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FILE PHOTO: Federal Trade Commission (FTC) Chairman Joe Simons announces that Facebook Inc has agreed to a settlement of allegations it mishandled user privacy during a news conference at FTC Headquarters in Washington, U.S., July 24, 2019. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The Federal Trade Commission, which works with the Justice Department to enforce antitrust Read More

Teenagers arrested over hacks to Met Police website

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Two Scottish teenagers have been arrested over claims they hacked into the Metropolitan Police’s website and posted a series of bizarre messages. The country’s largest police force was hit by a cyber attack in July and a series of tweets were sent from its verified account, which has more than 1.2 million followers. A stream Read More

Payments giants abandon Facebook’s Libra cryptocurrency

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Mastercard, Visa, eBay and payments firm Stripe have pulled out of Facebook’s embattled cryptocurrency project, Libra. Their move, first reported in the Financial Times, follows the withdrawal of PayPal, announced last week. It represents a huge blow to the social network’s plans to launch what it envisions as a global currency. The project has drawn Read More

U.S. SEC halts Telegram’s $1.7 billion digital token offering

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FILE PHOTO: The Telegram app logo is seen on a smartphone in this picture illustration taken September 15, 2017. REUTERS/Dado Ruvic/Illustration NEW YORK (Reuters) – U.S. authorities said on Friday they have halted a $1.7 billion unregistered digital token offering by the messaging service Telegram Group Inc and its TON Issuer subsidiary. The Securities and Read More

Digital assets subject to money-laundering, disclosure laws: U.S. regulators

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FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, United States, June 24, 2011. REUTERS/Jonathan Ernst/File Photo WASHINGTON (Reuters) – Three U.S. financial regulators on Friday issued a warning to firms with registered digital assets that they have an obligation to follow securities laws prohibiting Read More

Brazilian fintech Nubank has grown to 15 million users: CEO

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FILE PHOTO: The logo of Nubank, a Brazilian FinTech startup, is pictured at the bank’s headquarters in Sao Paulo, Brazil June 19, 2018. REUTERS/Paulo Whitaker SAO PAULO (Reuters) – Brazilian financial technology start-up Nubank now has 15 million clients, the firm’s chief executive said on Friday, a figure which underlines the rapid growth of the Read More

SoftBank-backed Vir Biotechnology’s shares tumble in market debut

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(Reuters) – Shares of SoftBank-backed Vir Biotechnology Inc (VIR.O) plunged nearly 19.3% on their debut on Friday, adding to the gloom in the IPO market following WeWork’s failed attempt to list on the stock market. Shares opened at $16.15 giving the biotech firm a market capitalization of $1.77 billion. The San Francisco-based infectious disease researcher Read More

Biden campaign asks Facebook, Twitter and Google to take down Trump ad

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(Reuters) – U.S. Democratic presidential candidate Joe Biden’s campaign sent letters over the last week to Facebook Inc, Twitter Inc and Alphabet Inc’s Google, asking them to take down a social media ad from President Donald Trump which the Biden campaign said contained false claims. Democratic 2020 U.S. presidential candidate and former Vice President Joe Read More

Itochu lifts stake in Chinese EV maker Singulato, may invest more: sources

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BEIJING (Reuters) – Japan’s Itochu Corp has invested nearly $100 million in Chinese electric vehicle maker Singulato Motors to lift its stake to about 7% and plans to boost the holding if the startup meets certain conditions, two people familiar with the matter said. FILE PHOTO: The logo of Itochu Corp is seen outside the Read More