Tech Brew Ride Home Fri. 03/18 - $APE GMI?
Mar 18, 2022
Australia is taking a stand by suing Meta over misleading cryptocurrency ads featuring public figures. The Bored Ape Yacht Club's ApeCoin experienced a rollercoaster ride in value, sparking discussions about NFTs. Amazon has officially acquired MGM Studios, raising eyebrows about antitrust laws. The show also delves into the challenges of Bitcoin adoption in El Salvador and the neon shortage affecting semiconductor production. Plus, there's chatter about the latest gaming trends and intriguing weekend read recommendations!
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Meta Sued in Australia
- Australia's Competition and Consumer Commission sued Meta for publishing scam cryptocurrency ads.
- These ads featured Australian public figures, misleading users into believing they endorsed the schemes.
ApeCoin's Volatile Launch
- The ApeCoin, associated with Bored Ape Yacht Club, saw volatile trading after its launch.
- It peaked at $39.40 but dropped to $7.50, mirroring a 'busted IPO'.
Amazon's Unchallenged Acquisition
- The FTC won't challenge Amazon's MGM acquisition due to anticipated opposition and legal challenges.
- This marks another successful acquisition for Amazon, expanding its entertainment portfolio.