Over $ 56 billion of Facebook’s market value on Friday was wiped out of the market as advertisers joined the boycotts.
This amount corresponds to almost a third of Bitcoin’s total market value, which is currently $ 167 billion.
Advertisers Leave Facebook
Unileve, a London-based consumer goods giant with more than 400 brands under its chain; Until the end of 2020, he shot his ads from both of these platforms and hit a big hit on Facebook and Twitter.
Nearly 90 advertisers, including Coca-Cola and Verizon, fled Facebook because they did not reduce harmful content.
Facebook CEO Mark Zuckerberg defended the platform’s content detective work and marked the “billions of dollars” invested to secure it.
In addition, Zuckerberg announced that it will start tagging harmful and abusive posts from all users, including politicians.
Billionaire previously claimed that social media should not be the ‘referee of the truth’, after marking the tweet published in May by Twitter US President Donald Trump. Facebook has more comfortable relationships compared to other technology giants.
Zuckerberg had a secret dinner with the Trump family about Libra’s cryptocurrency last October.