Earlier this year, the world’s largest social media Facebook banned all advertisements relating to cryptocurrency and initial coin offerings(ICO) since they felt that the market is volatile and that they could face lawsuit from people who came to know about the existence of those offers through the adverts.
Then, the largest search engine in the world also announced that they will be placing ban on all cryptocurrency and ICO advertisement that are usually subscribe through Google Adword by the end of second quarter of 2018.
As if it was a call to moderate the activities of cryptocurrency and its growing influence in the world, Twitter followed suit and placed ban on all such advertisement and even closed down some of the accounts that has to do with that, even though that one of its Co-Founder Jack Dorsey is a fan of bitcoin and even among the speakers in Coindesk Consensus Conference 2018.
Bill Gates is amongst the richest men in the world like Warren Buffett who has rejected everything that has to do with cryptocurrency though he has a liken for the good applications of blockchain in solving real world challenges.
He has a direct influence in Social media because its Company Microsoft search engine Bing that is regarded as the second in ranking after Google.
In an announcement in its blog it by the advertiser policy manager at Microsoft, Melissa Alsoszatai-Petheo , she wrote,
“Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviours, or otherwise scam consumers.”
She added also,
“To help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, its related products, and un-regulated binary options.”
One could say that it is an indirect response of Bill Gates in seeing an end to cryptocurrency and initial coin offerings since he has been criticized opening by some persons within the sector for making such stance even though he does not understand how it works.
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