Category Archives: Cambridge Analytica

Auto Added by WPeMatico

Finance Journo Martin Lewis Targets Facebook for Fake Bitcoin Ads

British financial journalist and TV personality Martin Lewis has announced that he will sue social media giant Facebook over a series of cryptocurrency ads featuring his image and his name.

Lewis, who is taking his case the UK High Court on Monday, claims that at least 50 ads have been released on Facebook endorsing financial products to which he has no connection and has not authorized. Lewis, who has made his name on British TV and in the media for advising consumers how to spend money wisely, ironically is not a cryptocurrency enthusiast, once saying,”Bitcoin is a highly speculative investment. You need to be prepared and think about your attitude to risk before you consider investing.”

The presenter has said that he is “disgusted beyond endurance” with the crypto ads and maintains that Facebook has made no attempt to address the problem:

“It is facilitating scams on a constant basis in a morally repugnant way. If [it] wants to be the champion of moral causes, then he needs to stop its [sic] company doing this.”

According to Facebook, this isn’t the case, arguing,”We do not allow adverts which are misleading or false on Facebook and have explained to Martin Lewis that he should report any adverts that infringe his rights, and they will be removed.”

The statement continued to point out that Facebook was in direct contact with the Lewis team, and was investigating their requests and had recently removed other ads which violated the new company advertising policy.

Facebook has recently introduced a ban on cryptocurrency advertising, but scammers are able to avoid filters that have been put in place. The scammers promote advertising that fools investors into schemes that tap into the burgeoning popularity of cryptocurrency.

The social media giant’s fortunes continue to take a downturn after the recent Cambridge Analytica scandal earlier this month. Lewis has said that should he win the case against Facebook, awarded damages will be donated to charities that fight against scams of this nature.

image source: https://pixabay.com/en/mobile-phone-smartphone-keyboard-1917737/ – geralt

 

The post Finance Journo Martin Lewis Targets Facebook for Fake Bitcoin Ads appeared first on BitcoinNews.com.

Cambridge Analytica Reportedly Planned ICO

Cambridge Analytica allegedly planned to hold an initial coin offering (ICO) for their own digital currency, prior to becoming embroiled in a scandal involving the misuse of data from Facebook.

Sources familiar with the situation spoke to Reuters Tuesday, noting that Cambridge Analytica had consulted with a company known for advising the structuring of ICOs. It is reported they were looking to source up to USD 30 million from the ICO.

A spokesman for Cambridge Analytica did not confirm if the firm was still pursuing the venture but did comment on their intentions to use blockchain technology in securing data in their care online. They stated: ”Prior to the Facebook controversy, we were developing a suite of technologies to help individuals reclaim their personal data from corporate entities and to have full transparency and control over how their personal data are used.”

This seems ironic considering that the nature of the scandal they were involved in entailed gaining and sharing Facebook users data improperly and without the users’ knowledge. The spokesman continued in their email to Reuters, saying that they were “exploring multiple options for people to manage and monetize their personal data, including blockchain technology”.

Cambridge Analytica notably worked for the US presidential campaign of Donal Trump in 2016, before knowledge of the Facebook scandal was known publicly. Earlier this month, Facebook said that over 87 million users may have been affected by the data analytics consultancy’s breach of privacy, although Cambridge Analytica reiterated that data was properly licensed on far fewer users from the research firm they were working on behalf of.

ICOs

As the popularity of digital currencies continues to increase, ICOs are one of the most popular ways for firms to raise money for their startups.

According to research from Autonomous, companies have so far raised USD 3.5 billion this year through ICOs. This style of funding is popular with investors as they can exchange their tokens on online trading platforms, often at a profit.

 

The post Cambridge Analytica Reportedly Planned ICO appeared first on BitcoinNews.com.