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Coinbase Global  (COIN)  shares jumped higher Tuesday after it said Facebook  (FB) - Get Facebook, Inc. Class A Report will store funds from its new digital wallet with the cryptocurrency exchange group.Coinbase said that Facebook has chosen it as the custody partner for Novi, a new digital wallet that the social media giant says will allow users to convert local currencies into crypto via a stand-alone app that plugs into other Facebook products such as Instagram. Facebook will roll out a small pilot project, using the stablecoin Pax Dollar, in both the U.S. and Guatemala, allowing users to buy Pax through their Novi accounts. Coinbase will store the funds within its custody trust company, which manages around $180 billion of crypto assets and is regulated by the New York Department of Financial Services. Stock Market Today: Dow Gains On Earnings Strength; Housing Starts Disappoint"We have an opportunity to help change the game for so many people who have been left behind by the current financial system," said David Marcus,  » Read More

Since its earliest days, the Portal line has been plagued by one major question: why? Not so much why did Facebook make it (for that I give you the following: $$$), but rather, why should people be interested, given Amazon and Google’s respective head starts in both the smart assistant and display categories?In addition to its integration with Facebook services, Portal’s original standout feature was smart panning, which used object detection to reframe its subjects. It was a clever addition -- if not necessarily enough to justify purchasing a Facebook-produced product over the competition. Since then, however, Google, Amazon and even Apple have introduced their own versions of the technology, removing Facebook’s edge.Image Credits: Brian HeaterWhile the Portal Go doesn’t address the larger question of why, it does once again showcase Facebook’s ability to think outside the smart screen box by adding portability to the mix. Honestly, it’s one of those things I’m surprised the competition hasn’t gotten on board with. Amazon discontinued its portable Bluetooth speaker,  » Read More

WASHINGTON (AP) — The senator leading a probe of Facebook's Instagram and its impact on young people is asking Facebook CEO Mark Zuckerberg to ...  » Read More

Facebook is planning to change its name, report says Social media giant Facebook Inc is planning to rebrand itself with a new name next week, the Verge reported on Tuesday, citing a source with direct knowledge of the matter. Gloria Tso reports. Facebook is planning to rebrand itself with a new name focused on the metaverse, the Verge reported on Tuesday, as the tech giant comes under fire from regulators around the world over its business practices.The company plans to announce the new name next week, the Verge reported, citing a source with direct knowledge of the matter. Facebook wants to be known for more than social media, according to the tech publication.Facebook does not comment on rumor or speculation, a company spokesperson said in response to a question about the potential name change.In addition to its flagship social media network, Facebook also owns Instagram and WhatsApp. A name change could position the three mega platforms under an umbrella brand,  » Read More

Thursday, October 21, 2021 The U.S. Department of Justice (“DOJ”) Office of Public Affairs issued a press release two days ago, October 19, 2021, announcing a settlement with Facebook involving their recruiting practices to qualify foreign nationals for permanent residence (green card) status in the U.S. This settlement involves a civil fine of $4.75 million payable to the U.S. government, plus an additional payment of up to $9.5 million to eligible victims. This settlement ends a lawsuit filed by the DOJ against Facebook in December of 2020. Most employment-based green cards for permanent residence in the U.S. require employers to test the labor market to ensure no U.S. workers are qualified and available for an advertised position. This process is known as PERM Labor Certification and is under the U.S. Department of Labor’s (“DOL”) jurisdiction. DOL has very specific rules for PERM recruiting; these rules must be followed specifically, otherwise, labor certification will be denied, and the employer will not be able to proceed with the permanent residence process.  » Read More

Facebook to introduce new features to promote teen safety online  » Read More