Thursday July 18, 2019
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Facebook, Twitter Reportedly Not Invited for Donald Trump’s Social Media Summit at White House

The summit is likely to address issues relevant to social media, The Hill reported on Sunday, quoting CNN

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trump, social media summit
Trump in a March tweet accused Facebook, Google and Twitter of being "on the side of the Radical Left Democrats". VOA

The White House has not invited Facebook and Twitter for its Social Media Summit slated to be organized on Tuesday, the media reported, saying this might be because President Donald Trump believes both the platforms censor conservative or Republican views.

The summit is likely to address issues relevant to social media, The Hill reported on Sunday, quoting CNN. The White House has refused to comment.

A Social Media Summit without representation from the giants like Facebook and Twitter cannot be thought of but Trump has frequently blasted them for not respecting Republicans views on their platforms.

social media summit, trump
The tool comes in the wake of several Republicans slamming Facebook and Twitter for censoring conservative speech on both the platforms. Pixabay

In his last meeting with Twitter CEO Jack Dorsey, Trump reportedly questioned the former specifically on why he was losing followers the microblogging platform. The White House recently launched a new tool for people to report if they have been wrongly censored, banned or suspended on Facebook and Twitter.

The tool comes in the wake of several Republicans slamming Facebook and Twitter for censoring conservative speech on both the platforms.

A Twitter spokesperson responded to the tool: “We enforce the Twitter Rules impartially for all users, regardless of their background or political affiliation. We are constantly working to improve our systems and will continue to be transparent in our efforts.”

Donald Trump, social media summit
US President Donald Trump earlier criticised social media platforms including Facebook and Twitter for anti-conservative bias. VOA

Led by Republican Senator Ted Cruz, who is the Chairman of the Senate Judiciary Committee’s panel that ripped apart Facebook and Twitter over concerns of bias against conservatives in April this year.

ALSO READ: Facebook Down Again? Chill as The World Has Not Ended Yet

Cruz has often alleged that Silicon Valley giants were biased against conservatives and routinely censor right-wing voices. Trump in a March tweet accused Facebook, Google and Twitter of being “on the side of the Radical Left Democrats”.

“Social media is totally discriminating against Republican/Conservative voices. Speaking loudly and clearly for the Trump Administration, we won’t let that happen,” Trump said last year. “They are closing down the opinions of many people on the right, while at the same time doing nothing to others,” he added. (IANS)

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US Lawmakers Call Facebook’s Digital Coin Libra as ‘Delusional’

Under Facebook subsidiary Calibra, the social networking giant has planned to introduce a digital wallet for Libra. The wallet will be available on Messenger, WhatsApp and as a standalone app and is expected to be launched in 2020

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Facebook, Libra, Bitcoin
Bitcoin, which has risen in value for eight consecutive days, received a boost after Facebook has said it would offer its own cryptocurrency, the Libra coin by end of June 2020. Pixabay

The US lawmakers attacked Facebook’s upcoming digital cryptocurrency Libra at a Senate hearing here, calling it “delusional” and “dangerous” and directing the social networking giant to clean up its house first before launching a new business model.

David Marcus, Head of Facebook subsidiary Calibra, was grilled at the Senate Banking Committee on Tuesday, reports Tech Crunch.

Democrat Senator Sherrod Brown who began the hearing blasted Facebook, saying it was “delusional” to think people would trust it with their hard-earned money.

“We’d be crazy to give them a chance to let them experiment with people’s bank accounts,” said Brown, adding that “like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.

Republican Senator Martha McSally echoed his views: “Instead of cleaning up your house, you are launching a new business model.”

Marcus said Facebook “will only build its own Calibra cryptocurrency wallet into Messenger and WhatsApp”.

Marcus told lawmakers that Libra – controlled by a non-profit called the Libra Association — will comply with all US regulations and unless all concerns are answered, would not be launched.

Earlier on Monday, US Treasury Secretary Steven Mnuchin said he was “uncomfortable” with Libra. US Federal Reserve Chair Jerome Powell has also raised “serious concern” over Libra.

Facebook, Financial, Lawmakers
FILE – Representations of virtual currency are displayed in front of the Libra logo in this illustration picture. VOA

Marcus, in a prepared testimony, said the Libra Association would be regulated by the Swiss government because that’s where it’s headquartered.

“The Libra Association expects that it will be licensed, regulated, and subject to supervisory oversight. Because the Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA),” Marcus wrote.

US President Donald Trump last week tweeted that he is not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.

“Unregulated Crypto Assets can facilitate unlawful behaviour, including drug trade and other illegal activity,” Trump said.

Also Read: New Twitter Desktop Look Left Users Baffled

“Similarly, Facebook Libra’s avirtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International.

“We have only one real currency in the USA, and it is stronger than evera It is called the United States Dollar!” he further tweeted.

Facebook has said it is not going to launch its digital coin Libra unless regulators are fully satisfied and all necessary approvals are in place.

Under Facebook subsidiary Calibra, the social networking giant has planned to introduce a digital wallet for Libra. The wallet will be available on Messenger, WhatsApp and as a standalone app and is expected to be launched in 2020. (IANS)