Facebook’s $5 billion fine doesn’t bode well for Libra
It looks like Facebook’s $5 billion settlement, which was ratified yesterday by the Federal Trade Commission, will likely go through. The deal was approved 3-2 along party lines, with the Republican commissioners voting for it and the Dems—who represent, arguably, the victims of the Cambridge Analytica data breach that may have helped elect Donald Trump—voting against it.
All that remains is for the U.S. Justice Department to rubber stamp it, and a settlement that The Verge described as an “embarrassing joke” will be finalized. The social network can get back to business, unencumbered by a year-long investigation into its cavalier handling of users’ personal data.