Bloomberg calls Bitcoin a bubble yet again, and Facebook is seemingly looking for $1 billion from VC firms for its stablecoin.
Facebook is a company that owns one of the largest social networks with the same name. It was founded in 2004 by Mark Zuckerberg and his roommates during their studies at Harvard University. Initially, it was made as a website internal to the university, which then spread all around the world.
The company has expressed interest in investigating the uses of blockchain technology for Facebook Messenger by launching a new team for this task. However, in the beginning of 2018, it was announced that all advertisements related to cryptocurrency or any other suspicious financial product would be banned on the site in order to provide better security for Facebook users. In addition to this, the absence of legislation concerning the use of cryptocurrency deters Facebook from considering involving it in their payment system.
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