Facebook to Launch its Own Cryptocurrency - Latest Financials Futures

Written by:
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Published on:
May/11/2018

Facebook says it plans to develop its very own cryptocurrency.  While details are scant, a virtual currency tied into the world's largest social media network would permit its billions of users to make seamless electronic payments. SCROLL DOWN FOR FACEBOOK FINANCIALS BETTING OPTIONS AND MORE ON THE COMPANY'S ENTRY INTO THE CRYPTOCURRENCY SPACE

“They are very serious about it,” said one of the people, who asked not to be identified discussing unannounced plans.

Indeed, Facebook began studying blockchain a little more than a year ago.

“Like many other companies Facebook is exploring ways to leverage the power of blockchain technology," a Facebook spokesperson told Cheddar after this story was first published on Friday. "This new small team will be exploring many different applications. We don’t have anything further to share.”

Facebook’s work on blockchain technology and cryptocurrency will likely take years to materialize and an Initial Coin Offering or ICO commonly held by cryptocurrency startups was highly unlikely.

Date Open High Low Close* Adj Close** Volume
May 11, 2018 184.85 188.32 184.18 186.44 186.44 12,106,129
May 10, 2018 183.15 186.13 182.50 185.53 185.53 20,892,700
May 09, 2018 179.67 183.01 178.78 182.66 182.66 23,282,800
May 08, 2018 178.25 179.04 177.11 178.92 178.92 15,577,200
May 07, 2018 177.35 179.50 177.17 177.97 177.97 18,697,200
May 04, 2018 173.08 176.98 173.06 176.61 176.61 17,677,800
May 03, 2018 175.13 176.12 172.12 174.02 174.02 24,026,100
May 02, 2018 174.25 178.08 174.20 176.07 176.07 30,424,500
May 01, 2018 172.00 174.02 170.23 173.86 173.86 26,025,900

- Gilbert Horowitz, Gambling911.com

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