Facebook's Recent Developments

Facebook has been forced to defend its reputation in recent years as it's faced a growing backlash over fake news and data-privacy issues. In April 2017, the company issued a case study confirming that several groups had attempted to use its social-networking site to influence the 2016 presidential election. In March 2018, news broke that political consulting firm Cambridge Analytica had illegitimately accessed millions of users' data and used the data to influence voters to support presidential candidate Donald Trump during his campaign.9

The company currently is facing four separate antitrust investigations, including one by the U.S. Department of Justice, one by the Federal Trade Commission (FTC), one by the state attorney generals of eight different U.S. states, and one by the U.S. Department of Justice (DOJ).10



Facebook also is facing resistance from global regulators over its proposal to launch its own cryptocurrency called Libra.11 The launch of Libra would make Facebook not just a social-media and tech giant, but could quickly transform it into a global player in banking and financial services. Considering the other issues Facebook is currently facing with regulators, it wouldn't be surprising if next year's planned launch of Libra is delayed.

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