The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Facebook Reportedly Raising Up to $1 Billion for Its Big Move Into Crypto

by Daily Hodl Staff
April 9, 2019
in Bitcoin, Blockchain

Nathaniel Popper, technology reporter at the New York Times, tells his 37,700 Twitter followers that, according to his sources, Facebook is targeting big sums from outside investors for its cryptocurrency initiative.

According to Popper,

“Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.

Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook.

One person I spoke with said that Facebook is talking about using the money as collateral for its cryptocurrency. Facebook has been designing the coin to keep a stable value, pegged to a basket of foreign currencies held in bank accounts.

It’s interesting to think of one of the richest companies on earth raising money. When was the last time they did outside fundraising?”

Facebook has steadily been building up its blockchain team as reports circulate that the company is working on a cryptocurrency for cross-border payments that will be integrated on popular messaging app WhatsApp, a flagship subsidiary.

As Facebook moves into blockchain, it’s grappling with yet another major data breach that highlights the pitfalls of centralized data systems that are routinely used across multiple industries.

According to a report released last Wednesday by UpGuard, a cybersecurity research firm, Facebook exposed over 540 million records about its users on Amazon’s cloud computing service. The leaks appear to have occurred through third-party applications that exposed personal and private information including account names, user IDs, details about comments, reactions to posts, friends, photos, location check ins, and unprotected Facebook passwords for 22,000 users.

The latest breach follows previous lapses and concerns that the social media giant lacks the ability to protect its 2.3 billion active monthly users and that the company has flagrantly targeted young children for the excessive use of its services.

Facebook’s data breaches raise concerns about how the tech giant will be able to launch a cryptocurrency while adhering to principles of transparency and decentralization without injecting intermediaries and corporate controls.

[the_ad id="42537"] [the_ad id="42536"]
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • $70 Million Committed to Boba Network As Foundation Concludes BOBA Token Agreement With FTX Recovery Trust
    July 1, 2025
  • Limitless Raise $4 Million Strategic Funding, Launch Points Ahead of TGE
    July 1, 2025
  • Block3 Unveils Prompt-to-Game AI Engine As Presale Launches
    July 1, 2025
  • Hyra Network Honored As ‘Technology Startup of the Year’ at the 2025 Globee® Awards
    June 30, 2025
  • Shheikh.io Launches SHHEIKH Token Presale for Blockchain-Backed Real-World Asset Investments
    June 30, 2025
  • Pi Network Unveils AI-Powered App Studio and Ecosystem Staking Features on Pi2Day 2025
    June 30, 2025
  • DWF Ventures Report Reveals $76 Billion Crypto Treasury Investment by Public Companies
    June 27, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$105,705.32
$105,705.32
1.71%
Ethereum
$2,419.00
$2,419.00
3.28%
BNB
$646.99
$646.99
1.72%
Solana
$146.50
$146.50
6.47%
XRP
$2.17
$2.17
4.33%

Spotlight

  • Crypto Analyst Unveils ‘Biggest Area’ of Accumulation for Bitcoin, Says BTC Going Much Higher in Coming Years
    June 24, 2025
  • Bank of America, Netflix and Apple Customers Targeted by Widescale Google Search Scams: Report
    June 24, 2025
  • Here’s When the ‘Real Altseason’ Will Begin, According to Closely Followed Crypto Analyst
    June 24, 2025
  • Real Estate Mogul Grant Cardone Announces 1,000 Bitcoin Purchase for New BTC Treasury
    June 24, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl