(FILES) In this file photo taken on May 1, 2018 Facebook CEO Mark Zuckerberg speaks during the … [+] annual F8 summit at the San Jose McEnery Convention Center in San Jose, California. – Facebook is leaping into the world of cryptocurrency with its own digital money, designed to let people save, send or spend money as easily as firing off text messages.”Libra” — described as “a new global currency” — was unveiled June 18, 2019 in a new initiative in payments for the world’s biggest social network with the potential to bring crypto-money out of the shadows and into the mainstream. Facebook and an array of partners released a prototype of Libra as an open source code to be used by developers interested in weaving it into apps, services or businesses ahead of a rollout as global digital money next year. (Photo by JOSH EDELSON / AFP) (Photo credit should read JOSH EDELSON/AFP via Getty Images)
AFP via Getty Images
The United States Federal Trade Commission (FTC) has laid the blame for $1 billion being lost through crypto scams at the feet of social media platforms such as Instagram, Facebook, WhatsApp, and Telegram.
