After months of intense speculation, several market roller coaster rides at CryptoLand, and the possibility of a USD 5 billion fine from Uncle Sam’s Federal Trade Commission, Facebook is set to leave the blockchain space ablaze on 18 June when it reportedly unveils details about its cryptocurrency, now codenamed Libra. We are sure Mark Zuckerberg commands pristine views of any zodiac constellation anytime he desires from his def Palo Alto crib, but in many ways some of Facebook’s fate could hang in the balance – à la the scales of Libra. Oh, Irony, hast thou blue thumb pointeth upwards?
On 30 January 2019, CEO Zuckerberg announced FB’s financial results for calendar year 2018, blissfully reporting a 38% year-over-year climb in Advertising Revenue to USD 55.01 billion, a 39% y/y climb in Net income to US$ 22.1 billion, and a 40% y/y gain in Diluted Earnings per Share (EPS) to USD 7.57. In tandem with those financial results, Zuckerberg announced “(Facebook has) fundamentally changed how we run our company to focus on the biggest social issues, and we’re investing more to build new and inspiring ways for people to connect.”