Cryptocurrency News

FTC files lawsuit against Meta over attempted monopolization of metaverse

2022.07.28 14:10

FTC files lawsuit against Meta over attempted monopolization of metaverse
FTC files lawsuit against Meta over attempted monopolization of metaverse

The United States Federal Trade Commission, or FTC, has filed a lawsuit against Meta and CEO Mark Zuckerberg in an attempt to stop the social media giant from “its ultimate goal of owning the entire ‘metaverse’.”

In a complaint filed in the Northern District of California on Wednesday, the FTC alleged Meta’s and Zuckerberg’s potential acquisition of virtual reality firm Within and its fitness app Supernatural was illegal according to U.S. antitrust laws and a way for the social media firm to “buy its way to the top” as opposed to “competing on the merits.” The complaint alleged that under Zuckerberg, Meta was “a potential entrant in the virtual reality dedicated fitness app market” with the resources necessary to develop its own app, but instead chose to own Supernatural by purchasing Within. The move would allegedly hinder “future innovation and competitive rivalry” among companies in the United States.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 104,091.89 0.73%
ethereum
Ethereum (ETH) $ 3,266.81 4.35%
xrp
XRP (XRP) $ 3.18 1.16%
tether
Tether (USDT) $ 0.999496 0.12%
solana
Solana (SOL) $ 254.20 17.33%
bnb
BNB (BNB) $ 698.77 3.29%
dogecoin
Dogecoin (DOGE) $ 0.391329 4.63%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 1.06 6.06%
staked-ether
Lido Staked Ether (STETH) $ 3,267.28 4.39%
tron
TRON (TRX) $ 0.240292 2.59%
avalanche-2
Avalanche (AVAX) $ 38.72 5.25%
chainlink
Chainlink (LINK) $ 23.68 3.22%
sui
Sui (SUI) $ 4.92 2.58%
stellar
Stellar (XLM) $ 0.476173 1.42%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,724.79 0.84%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,889.44 4.40%
hedera-hashgraph
Hedera (HBAR) $ 0.34854 6.31%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 5.91%
the-open-network
Toncoin (TON) $ 5.21 5.81%
polkadot
Polkadot (DOT) $ 6.89 7.29%
weth
WETH (WETH) $ 3,263.26 4.55%
litecoin
Litecoin (LTC) $ 124.91 7.58%
bitcoin-cash
Bitcoin Cash (BCH) $ 463.88 6.17%
leo-token
LEO Token (LEO) $ 9.45 3.21%
uniswap
Uniswap (UNI) $ 14.00 5.64%
bitget-token
Bitget Token (BGB) $ 6.78 3.08%
pepe
Pepe (PEPE) $ 0.000018 9.29%
hyperliquid
Hyperliquid (HYPE) $ 20.13 13.15%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,446.12 4.94%
usds
USDS (USDS) $ 1.00 0.17%
near
NEAR Protocol (NEAR) $ 5.34 4.17%
ethena-usde
Ethena USDe (USDE) $ 0.999376 0.06%
official-trump
Official Trump (TRUMP) $ 28.05 553.55%
aptos
Aptos (APT) $ 9.15 4.74%
internet-computer
Internet Computer (ICP) $ 10.55 5.74%
aave
Aave (AAVE) $ 310.79 4.40%
vechain
VeChain (VET) $ 0.050743 8.03%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.474644 5.81%
monero
Monero (XMR) $ 216.34 7.53%
ethereum-classic
Ethereum Classic (ETC) $ 26.59 4.64%
render-token
Render (RENDER) $ 7.35 6.75%
ondo-finance
Ondo (ONDO) $ 1.19 4.84%
algorand
Algorand (ALGO) $ 0.439078 6.70%
bittensor
Bittensor (TAO) $ 447.13 5.78%
kaspa
Kaspa (KAS) $ 0.142705 3.96%
mantra-dao
MANTRA (OM) $ 3.77 2.44%
dai
Dai (DAI) $ 1.00 0.03%
crypto-com-chain
Cronos (CRO) $ 0.131618 9.38%
mantle
Mantle (MNT) $ 1.04 6.85%