Facebook Bans Ads for Bitcoin and Other Cryptocurrencies
Posted in: UncategorizedThe social network said it wanted to prevent misleading or deceptive promotional practices.
The social network said it wanted to prevent misleading or deceptive promotional practices.
The chief digital officer at Vice is no longer with the company, a Vice spokesman confirmed on Tuesday. The executive, Mike Germano, was previously suspended following a December New York Times article that reported allegations of sexual misconduct. The spokesman declined to elaborate on his exit.
Attempts to reach Germano Tuesday afternoon were not immediately successful.
Vice at the same time is combining its internal agencies, integrating the digital shop Carrot Creative, where Germano had been CEO, into the Vice creative agency Virtue Worldwide. Vice had been planning the merger of Carrot and Virtue for roughly a year, according to a press release.
Facebook on Tuesday took a proactive step to block ads related to cryptocurrencies, underscoring a broader effort to reshape its image amid previous controversies involving Russian ads and fake news.
Although Bitcoin is perhaps the most well-known of all cryptocurrencies, there are thousands of so-called “alt-coins.” Many attempt to solve real-world business problems, but a sizable amount have no actual product or team, and merely attempt to swindle newcomers hellbent on getting rich quick.
So it isn’t surprising that scammers turned to Facebook to post ads for sketchy “initial coin offerings,” also called ICOs, or to offer financial advice for products that were similar to a ponzi scheme.
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Droga5 has placed Chief Creative Officer Ted Royer on leave and hired an outside firm to handle an internal investigation in the shop’s HR processes, a spokeswoman from the independent agency confirmed.
The spokeswoman declined to disclose further details about the nature of Royer’s leave or the investigation. Royer was not immediately available for comment about his leave of absence.
Last week, Droga held meetings with different departments of the agency to discuss HR matters.
After placing Mike Germano on leave weeks ago, Vice said he would not return. Two women at the company had accused him of inappropriate behavior.
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Streaming wars
Amazon will advertise its Prime Video service in the Super Bowl for the first time this Sunday. The streaming video service will use the expensive time, running around $5 million per 30 seconds plus additional spending required by NBC, to promote its original series “Tom Clancy’s Jack Ryan.” The series isn’t scheduled to debut until Labor Day weekend.