NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Facebook Takes Another Step Closer to Cryptocurrency

Martin Young
Martin Young
1 year ago
2 mins read
facebook

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Social media giant Facebook has taken another step closer to crypto with its latest acquisition, the team behind a London based blockchain startup.

Facebook Expands its Blockchain Division

According to reports Facebook has quietly hired the team at Chainspace, a small startup founded by researchers from University College London. The company clearly has big ambitions in the crypto space and a direct move into blockchain is another indicator that Facebook has plans for its own crypto products.

Chainspace released a whitepaper in August 2017 which details their plans for a “distributed ledger platform for high-integrity and transparent processing of transactions within a decentralized system.” Although pretty vague, the concept is similar to several of the leading cryptocurrencies which aim to improve transaction speeds over existing platforms.

The report went on to add that four of the five researchers who wrote the whitepaper for Chainspace were joining Facebook’s blockchain group. Facebook has previously confirmed its plans for blockchain;

“Like many other companies, Facebook is exploring ways to leverage the power of blockchain technology. This new small team is exploring many different applications. We don’t have anything further to share.”

It added that there was no acquisition of Chainspace technology, just the personnel. There was also no mention of funding though Chainspace was in the process of raising an initial round of funding of less than $4 million according to Cheddar.

This is not the first time Facebook has eyed the blockchain space. Its own division currently employs around 40 people and it is likely to expand again this year. Further acquisitions are on the cards and Facebook has already held talks with blockchain-based payments platform, Algorand.

As previously reported by Bloomberg, Facebook is already exploring its own cryptocurrency which would be used for remittances on its WhatsApp messenger platform in select markets initially. The new crypto is likely to be a dollar pegged stablecoin to compete with Tether.

The company has been plagued with privacy issues recently so would not make an ideal platform for decentralized currencies. Whatever crypto Facebook does eventually launch is likely to be highly centralized and controlled by the company. It has been accused of censorship and manipulation in the past alongside personal data farming which makes Facebook the complete antithesis of cryptocurrency.

Either way it is only a matter of time before the world’s largest social network launches its own digital money and joins the ever growing crypto industry.

Image from Shutterstock
Tweet123Share348ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Cardano price news

Cardano Flashes Major Buy Signal—$1.90 Target Unleashed

Crypto analyst Investing Broz has spotlighted Cardano (ADA) as one of the most promising altcoins currently breaking out amid a...

Jake Simmons 3 hours ago
Bitcoin

Delay In Bull Market Could Push Bitcoin Higher Than Expected

The bull market may be taking longer than expected to kick into its final gear, but the Bitcoin price structure...

Sandra White 4 hours ago
Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Bitcoin rose above the $122,000 mark on Monday. According to data from CoinGecko, prices briefly topped that level before pulling...

Christian Encila 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

Mark Mak 46 minutes ago

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

estherw 1 hour ago
Bitcoin

Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    47 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    6 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    7 hours ago
  • Bitcoin Hyper

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.