Officially announcing the acquisition of Diem Group, a Facebook-affiliated firm, and its intellectual property and other technology assets essential to run the blockchain-based payment system, Silvergate made the deal public in February of last year. In 2021, Facebook stopped working on its digital currency project because of intense scrutiny from
While the whole IT sector has been struggling in 2022, Meta has had it particularly difficult. Since the firm changed its name in October 2021, when its stock was trading at $323.57 a share, the price of the stock has plummeted by 60%. Based on data from MarketWatch, Meta is
Doug Anmuth, an analyst at JPMorgan, recently published a consumer note in which he predicted that Meta will continue to show indications of improving its cost control. The analyst stated: “Heading into 2023, we believe some of these top and bottom line pressures will ease, and most importantly, Meta is
Meta was fined by Irish data protection authorities for how it handled client information. The investigation that resulted in the €265 million fine (Approx $277) was conducted by the Irish Data Protection Commission. An examination of the online dissemination of sensitive information on 500 million Facebook and Instagram users was
The Russian government has delivered a serious setback to Meta (Facebook). On Friday, Meta was reportedly designated as an extremist group by the Russian Ministry of Justice. An earlier ruling in Russia found that Meta was involved in extremist activity. Additionally, Moscow censored Instagram and Facebook. They said it was
It has just come to light that 11,000 people, or around 13% of Meta’s staff, would be impacted by the decision. Mark Zuckerberg, CEO of Meta, made the news on the official blog. The crypto market is in disarray, and the IT sector has its own issues. Following Twitter’s big
Recently, layoffs have become more prevalent. Many firms operating in the cryptocurrency industry have started laying off employees as a means of cutting costs. Moreover, it was reported that Meta had is planning to follow suit and was getting ready for “large-scale layoffs.” Many have speculated that the Reality Labs
The tech sector’s most recent tussle is the massive layoffs in every other company. An increase in the inflation rate has pushed the firms to the corner of reducing the workforce count. The Kobeissi Letter, the leading commentator on the global capital market produced a summarization of the layoff percentages
Meta Platforms, Inc. (META), the parent company of Facebook, is planning for “massive layoffs”. According to a recent report from The Wall Street Journal, Meta is expected to begin large-scale layoffs this week due to increased costs and a recent decline in its stock price. The action from the platform
Polygon (MATIC) price surged by over 9% in the last 24 hours to $1.21. Today, MATIC attained six months high of $1.27. Polygon’s native cryptocurrency $MATIC has grown more quickly and signaling bullish patterns. According to Coingecko, Today, $MATIC has surged by around 30% in the last 7 days to
