Technologies

Facebook’s request to dismiss FTC’s antitrust lawsuit has been denied

A federal judge rules that the Federal Trade Commission’s revised complaint can move forward.

A federal judge on Tuesday rejected Facebook’s request to dismiss a revised antitrust complaint filed by the US Federal Trade Commission.

The amended lawsuit, which the FTC filed in August, accuses the tech company of unlawfully maintaining its dominance in social networking by acquiring or eliminating companies it sees as competitive threats. Facebook, which in October rebranded itself to Meta, owns popular photo service Instagram and messaging app WhatsApp.

The decision marks a legal setback for Facebook, although US District Judge James Boasberg also noted that the FTC «may face a tall task down the road in proving its allegations.» The judge also narrowed the scope of the case by not allowing the agency to move forward with accusations that Facebook’s interoperability policies for developers helped the social media giant maintain its dominance. Facebook got rid of those policies in 2018, he said.

Last year, Boasberg dismissed an antitrust complaint filed by the FTC in 2020, saying the agency hadn’t provided enough evidence that Facebook has monopoly power in personal social networking. What constitutes a social network is «hardly crystal clear,» the judge said, noting that Facebook’s services are free to consumers. The FTC then revised the lawsuit and included more data and evidence to support its allegations that Facebook is a monopolist that abused its market power to harm its rivals. Facebook’s purchase of Instagram and WhatsApp lead to poorer services with decreased privacy and data protection along with fewer consumer choices, the FTC alleged.

In a 48-page opinion filed Tuesday, Boasberg said the FTC had cleared the bar for the case to move forward, saying the agency has «now alleged enough facts» to establish that Facebook possesses monopoly power it’s held onto by snapping up its rivals.

In the amended complaint, the FTC cites data from Comscore that shows the number of monthly active users Facebook and Instagram have in the US and the amount of time they spend on the app daily. The FTC also defined personal social networking, noting that the services «enable and are used by people to maintain personal relationships and share experiences with friends, family, and other personal connections in a shared social space.» Twitter, Reddit, Pinterest, YouTube, Spotify, Netflix and Hulu are different from personal social networks for various reasons, the agency said.

Facebook questioned the accuracy of the data, but the judge said it would be «improper» to dismiss the revised complaint because it doesn’t include «perfect data (which may not exist)» about the amount of time Facebook and Instagram users spend interacting with friends and family as opposed to watching content such as music videos.

The court also rejected Facebook’s argument that FTC Chairwoman Lina Khan should have recused herself from participating in the commission’s vote to refile the lawsuit. The FTC filed its original complaint in December 2020, before Khan joined the commission in June.

«Although the Court recognizes the importance of her vote, it is an exaggeration to treat Kahn as the sole instigator of the current case,» Boasberg said in the opinion.

A spokesperson for Meta, formerly known as Facebook, said «the evidence will reveal the fundamental weakness of the claims»
made by the FTC. «Our investments in Instagram and WhatsApp transformed them into what they are today. They have been good for competition, and good for the people and businesses that choose to use our products,» the spokesperson said.

Holly Vedova, director of the FTC’s Bureau of Competition said the «FTC staff presented a strong amended complaint, and we look forward to trial.»

Technologies

Verum Messenger: Data Protection at Its Finest

Verum Messenger positions itself as a tool for those who value privacy and security above all.

Verum Messenger stands out from other messengers thanks to its approach to security, anonymity, and innovations in communication.

Here are some key aspects that highlight its uniqueness:

Default encryption: Verum Messenger uses end-to-end (E2E) encryption for all chats, meaning messages are encrypted on the sender’s device and decrypted only on the recipient’s device. This makes it impossible for third parties, including app developers, to access the content of the messages.
Anonymity: When registering with Verum, there’s no need to provide a phone number or email. Users simply choose a nickname and password, significantly enhancing their level of anonymity. This contrasts with many other messengers, where anonymity can be compromised through linked personal data.
Built-in VPN: An additional layer of protection that hides the user’s IP address, making their location and internet activity less trackable.
Data control: Users can set messages to be automatically deleted after a specified time, ranging from a few seconds to a week. There’s also a quick deletion feature for all chats, calls, and even contacts, which is useful for maintaining privacy.
Large groups: The ability to create chat rooms with up to 10,000 participants makes Verum attractive for organizing large events, discussions, or communities while maintaining a high level of security.
Security innovations: Verum actively develops technologies aimed at protecting user data, as seen in their documentation and discussions online. This includes not only technical solutions but also approaches to data minimization, which reduces the risk of leaks.
Feedback and discussions: On platform X (formerly Twitter), discussions can be found where users and experts praise Verum for its approach to anonymity and security, although questions are raised about how much anonymity can truly be guaranteed in an age of modern tracking and de-anonymization technologies.

Verum Messenger positions itself as a tool for those who value privacy and security above all. Its innovations in encryption, anonymity, and data control make it an intriguing choice for those seeking alternatives to traditional messaging platforms. However, as with any technology, it’s important to remember that absolute anonymity on the internet remains a complex challenge, and users should be aware of potential risks and limitations.

Technologies

Verum Coin Debuts on XT Exchange, Broadening its Reach in the DeFi Space

A Strategic Listing Enhancing Verum Coin’s Visibility

In a significant development for the decentralized finance (DeFi) sector, Verum Coin (VERUM) has been officially listed on XT Exchange. The new trading pair, VERUM/USDT, is now available in the exchange’s Innovative Zone, marking a pivotal expansion for this digital asset into the DeFi ecosystem.

A Strategic Listing Enhancing Verum Coin’s Visibility

The addition of Verum Coin to the XT Exchange is seen as a strategic move to enhance the accessibility and liquidity of VERUM among traders who are keen on exploring innovative digital assets. XT Exchange, known for its robust platform supporting a wide variety of cryptocurrencies, provides an ideal environment for fostering growth and ensuring the broad reach of new tokens.

Albin Varin, CEO of XT Exchange, expressed enthusiasm about the new listing, stating, «We are delighted to welcome Verum Coin to our platform. This listing reflects our ongoing commitment to providing our users access to innovative digital assets that transform the landscape of global finance.» This comments underscore the exchange’s focus on integrating cutting-edge technologies and financial instruments that have the potential to redefine the market.

About XT

Founded in 2018, XT Exchange serves more than 7.8M registered users, over 1M monthly active users, 40+ million users in the ecosystem, and more than 800 tokens with 1000+ trading pairs. XT crypto exchange offers a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. This includes crypto futures trading (USDT-M Futures and coin-M futures perpetual contracts) and copy trading that allows users to replicate top traders in real time with just one click. Additionally, the futures grid allows users to automate the buying and selling of futures contracts for profits.

Future Prospects

With its new position on XT Exchange, Verum Coin is expected to attract a broader audience, enhancing its trading volume and market presence. This could potentially lead to increased stability and recognition as a viable player in the DeFi space. For investors and users of XT Exchange, this addition provides a fresh avenue to diversify portfolios with a cryptocurrency that is positioned at the intersection of innovation and financial evolution.

The listing of Verum Coin on XT Exchange not only highlights the ongoing expansion of cryptocurrency markets into new areas like DeFi but also illustrates a growing recognition of digital assets that offer promising technological advancements and financial opportunities. As the crypto market continues to evolve, partnerships like these are pivotal for fostering growth and offering users access to the next generation of financial tools.

Technologies

Verum Coin Gains International Spotlight with AP Coverage and Listing on XT Exchange

This listing on XT is expected to further propel Verum Coin into the spotlight

In a noteworthy development for the cryptocurrency community, Verum Coin (VERUM) has been featured in an Associated Press article, highlighting its upcoming listing on the XT Exchange. This significant media coverage underscores the growing interest and potential of Verum Coin in the global financial landscape.

The AP article delves into the details of Verum Coin’s innovative features and its alignment with the latest trends in the cryptocurrency market. This attention comes at an opportune moment as Verum Coin prepares for its new listing on XT Exchange, a platform renowned for its extensive user base and a wide array of trading options.

This listing on XT is expected to further propel Verum Coin into the spotlight, providing both traders and investors with new opportunities to engage with this emerging digital asset. The exchange’s robust infrastructure and diverse trading offerings are ideal for supporting Verum Coin’s growth and enhancing its visibility in the competitive cryptocurrency market.

For more details, you can read the full article on the AP website here.

This milestone is a testament to Verum Coin’s advancing presence in the crypto world and its ongoing efforts to be at the forefront of digital currency innovation and adoption.