Crypto Currency

9 Questions for Facebook After Zuckerberg’s Privacy Manifesto

presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be…


presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be one where everyone connects openly together, as in a town square; it will be one where more connections happen one to one, as in a living room. Instead of data permanence, data will disappear.

Facebook isn’t putting the current platform—worth roughly half a trillion dollars—in the garbage disposal. As Zuckerberg made clear in a Wednesday afternoon interview with WIRED, Facebook as we know it now will still exist. But it will change. And there will also just be something new.

It’s unclear the extent to which Facebook will ultimately push users toward privacy, and in what exact ways. But Zuckerberg controls Facebook, and his manifesto will make its gears start to turn in different directions. As that begins, here are nine important questions the company will have to think through.

1. Facebook knows how to make money in the town square. How does it make money in this new living room?

Private, encrypted messaging is hard to monetize. In our interview, Zuckerberg demurred when asked what the new business model will be after clamping down on the data firehose. The company would, he said, build the product first and figure out the financials later. Facebook does have nascent efforts in commerce and cryptocurrency, but there’s no question that figuring out revenue on the new platform will be a hard problem for Dave Wehner, Facebook’s chief financial officer. A former Facebook employee told me last night, “Mark is like a cartoon character who walks through a bunch of dangerous situations and always comes out on top. Dave is the guy running behind him catching the cat, stopping the ladder from tipping, deflecting the flying axe with a manhole cover.”

2. What does this do to safety on the platform?

Facebook rightly faces endless criticism for all the data it collects. But there are benefits to data collection as well. It can help stop bullies, or even potential suicides. Once those communications become private, Facebook no longer has the same powers to track and moderate. The public—from the media, to nonprofits, to academics, to individuals, to the government—also uses the public nature of Facebook to track bad behavior. If Russian intelligence operatives had just used private encrypted messaging to manipulate Americans, would they have been caught? As Facebook knows from running WhatsApp, which is already end-to-end encrypted, policing abuses gets ever harder as messages get more hidden.

In our interview, Zuckerberg explained that this, not fears about the business model, is what keeps him up at night. “There is just a clear trade-o

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Crypto Currency

Binance Faces Regulatory Storm as Executives Detained in Nigeria: Report

Two senior executives at Binance have been detained in Nigeria as the country intensifies efforts to curb speculation on its currency, the Financial Times reported. This move followed Nigeria’s recent ban on several cryptocurrency trading websites following the rapid devaluation of the naira and soaring inflation rates.Cryptocurrency Crackdown in NigeriaNigeria’s crackdown on cryptocurrency exchanges is

Two senior executives at Binance have been detained
in Nigeria as the country intensifies efforts to curb speculation on its
currency, the Financial Times reported. This move followed Nigeria’s recent ban
on several cryptocurrency trading websites following the rapid devaluation of
the naira and soaring inflation rates.Cryptocurrency Crackdown in NigeriaNigeria’s crackdown on cryptocurrency exchanges
is due to a concern about the devaluation of the naira…
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Crypto Currency

Bybit Integrates TradingView to Simplify Crypto Market Analysis

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The cryptocurrency exchange Bybit has integrated
TradingView to enhance its users’ trading experience. According to the
company, this step eliminates the hassle of switching between platforms,
providing users with direct access to spot and futures trading symbols within their
TradingView’s charts. Ben Zhou, the Co-Founder and CEO of Bybit…
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Crypto Currency

HTX Resubmits Hong Kong Crypto License Application

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Reading Time: 2 minutes HTX’s Hong Kong branch, previously Huobi Global, has resubmitted its application for a Hong Kong trading license The exchange withdrew its license days after submitting it HBGL Hong Kong Limited hasn’t disclosed reasons for the withdrawal and resubmission, but speculations about owner Justin Sun’s departure prompted him to showcase his personal bitcoin balance The Hong Kong branch of cryptocurrency exchange HTX…
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Crypto Currency

Ethereum’s Meteoric Rise: Analysts Eye $4,000 as Bulls Charge Ahead

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Crypto analyst Michaël van de Poppe has expressed optimism regarding the recent surge in the price of Ethereum, referring to it as a “giant move.” The cryptocurrency has experienced a notable rally, with its price climbing impressively from $2,150 to $3,333 within a relatively short period…
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