Twitter to ban cryptocurrency ads from Tuesday
Twitter has confirmed that it will begin blocking cryptocurrency-related ads on the platfrom from Tuesday even as the micro-blogging site updated its policy relating to such advertisements.
 
"We are committed to ensuring the safety of the Twitter community. As such, we have added a new policy for Twitter Ads relating to cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally," The Verge quoted the company as saying.
 
"The policy will be fully enforceable among all advertisers within a month," Twitter said, adding that all ICOs and token sales would be banned, and cryptocurrency exchanges and wallets would be restricted to only public companies listed on major stock markets.
 
Earlier this month, Twitter CEO Jack Dorsey acknowledged that the company was facing an issue wherein copying verified Twitter accounts to trick cryptocurrency users was becoming increasingly prevalent.
 
Dorsey said the company was working to fix the cryptocurrency scam on Twitter in which several users were tricked and their digital assets were stolen.
 
Banning cryptocurrency-related ads follows Facebook and Google's announcement that they would ban advertisements for cryptocurrencies and other "speculative financial products" across their ad platforms.
 
In January, social media giant Facebook banned all ads promoting cryptocurrencies, including Bitcoin and ICOs.
 
Google's ban on such advertisements would come into force from June. 
 
"We updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs)," Scott Spencer, Google's Director of Sustainable Ads, had said. 
 
"In June 2018, Google will update the financial services policy to restrict the advertisement of contracts for difference, rolling spot forex and financial spread betting," Google said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

  • User

    Price glitch leaves tech giants stocks fixed at USD123.47
    In after-hours trading on the eve of the US Independence Day, a stock market data error set major tech companies like Apple, Google and Amazon listed on the Nasdaq exchange to the same share price of $123.47 late on Monday, that saw Amazon going down 87% and Facebook game maker Zynga up a massive 3,292%.
     
    As a result of the glitch, which Nasdaq said was caused by "faulty test data being improperly disseminated by third-party vendors", several stocks briefly showed their price to be USD123.47. 
     
    Prices on Nasdaq's official website appeared unaltered but the issue was replicated across financial data services including Bloomberg, Thomson Reuters, Google Finance and Yahoo Finance which displayed the incorrect price change, Financial Times reported on Tuesday.
     
    The glitch made Apple appear down by 14.3%.
     
    Nasdaq said the glitch did not affect any market trading, including after hours. 
     
    However, traders in Hong Kong were quoted as saying they saw a handful of trades reported at those prices, although many deals were subsequently cancelled.
     
    At the USD123.47 price, Microsoft jumped 79.1%, which would value the company at nearly USD1 trillion.
     
    For tech giant Amazon which had an opening price of USD972.79 a share, the error had a catastrophic effect on the appearance of its market cap while other companies like struggling Facebook game maker Zynga saw their stock price soaring by a massive 3,292%. 
     
    If the declines had actually occurred, it would have knocked USD104 billion off the market value of Apple, the world's most valuable stock. Amazon's market cap would have dropped USD396 billion, the report added.
     
    In a statement to the Financial Times, Nasdaq said the culprit was "improper use of test data" that was picked up by third party financial data providers. The exchange said it was "working with third party vendors to resolve this matter."
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
  • User

    COMMENTS

    pradip

    2 years ago

    Makes amusing reading. But there's lesson to be learnt. Improper use of test data or whatever should be studied by all concerned. Next time or mar not be harmless. It can cause unprecedented upheaval and redistribution of wealth across investors. In fact FAR, failure analysis report and remedial measures be shared with all. So it doesn't repeat.

    Apple's market cap crosses USD 800 bn for first time
     In yet another milestone, Apple's market capitalisation briefly soared past USD 800 billion threshold, making it the first company ever with such a mammoth valuation.
     
    Apple's shares closed up 2.7 per cent for the day at $153.01 late on Monday, taking the company to a market value of $797.8 billion, Fortune reported.
     
    Earlier, analyst Brian White from investment firm Drexel Hamilton raised his price target for Apple shares from $185 to $202 - implying a market value of over $1 trillion.
     
    According to White, iPhone 8, repatriation of foreign cash and new innovations could bring more good news for Apple shares.
     
    Alphabet, Google's parent company, is the second most valuable company with a market cap of $653 billion, followed by Microsoft at $532 billion.
     
    Apple sold 50.8 million iPhones in the first three months of 2017, down one per cent year-on-year, according to the company's second quarter results that came earlier in May.
     
    CEO Tim Cook blamed a "pause" as customers wait for the next iPhone which is due to release later in 2017.
     
    The dip in iPhone sales was offset by services, including Apple Pay, iCloud and the App store, which recorded an 18 per cent increase in sales to $7 billion.
     
    Due to the robust sales of its iPhone 7 Plus, the revenue from iPhones climbed one per cent to $33.2 billion.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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