Social media

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/security

Central Bank of Ireland blocks staff use of ChatGPT

Ireland's central bank has become the latest financial institution to ban its employees from using the artificial intelligence (AI) chatbot ChatGPT.

/regulation

Kraken’s staking-as-a-service sunk by SEC

The US Securities and Exchange Commission (SEC) reached a settlement of $30 million with crypto platform Kraken, for the exchange’s failure to register its staking-as-a-service program.

/regulation

SEC WhatsApp crackdown expands to hedge funds

The Securities and Exchange Commission is widening its probe into Wall Street's use of WhatsApp for conducting business to include major hedge funds, according to Bloomberg.

/regulation

FCA cracks down on fraudulent promotions

New data published by the Financial Conduct Authority (FCA) reveals that the regulator blocked over 8,000 misleading advertisements and promotions during 2022.

/startups

Investing social network yeekatee raises $1.9m

Investing social network yeekatee has raised $1.9 million in a pre-seed funding round joined by Avaloq co-founder Ronald Strässler.

/retail

Atom Bank quits Twitter as Musk turns on Fauci

Atom Bank has decided to shut down all of its Twitter accounts over the increasingly unhinged behaviour of new owner Elon Musk.

/regulation

SEC charges eight social media influencers over $100 million stock manipulation scheme

The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks.

/retail

American Express launches TikTok accelerator for small businesses

American Express is partnering with TikTok to help small business owners reach a new generation of shoppers on the viral video platform.

/retail

Gen Z turns to TikTok for financial advice

Young Brits are turning to TikTok for financial information, with many of them believing that influencers on the app provide better advice than traditional media.

/payments

PayPal to ride out social media backlash over misinformation policy change

Online payments giant PayPal is unlikely to suffer any significant impact from a customer backlash over a supposed charge for users spreading misinformation, acccording to financial analysts.

/regulation

Banks to pay $1bn over traders' use of WhatsApp

A handful of Wall Street banks are preparing to pay up to $200m each to settle a case with the Securities and Exchanges Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over the use of WhatsApp messages.

/regulation

FCA warns against unlawful BNPL promotion

The Financial Conduct Authority (FCA) has warned firms against promoting unapproved BNPL products.

/crypto

FTX and Coinbase invest in 'Bloomberg for crypto' Coinfeeds

The venture arms of FTX and Coinbase have joined a $2 million seed funding round for Coinfeeds, a startup that lets people monitor the social media mentions and activity of web3 and NFT projects.

/crypto

Social investing app Shares raises $40m for European expansion

London-based social and community-based investing app Shares is eying European expansion and a move into crypto after raising $40 million in a Series B funding round led by Valar Ventures.

/inclusion

Network International partners Infobip to bring WhatsApp business banking services to Africa

Leading digital payment solutions provider Network International has announced it will bring WhatsApp for Business banking services to financial institutions across Africa through a landmark collaboration with Infobip.

/security

Firms failing to monitor social messaging

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

/payments

Instagram adds payments in chat

Instagram users can now buy products from small businesses using Meta Pay within the app's chat function.

/retail

NatWest launches TikTok Business Builder campaign

NatWest Business has taken to video app TikTok for a campaign aimed at reaching budding entrepreneurs.

/retail

Instagram starts testing NFTs

Instagram will start testing digital collectables this week, enabling creators and collectors to display their non-fungible tokens on their profiles.

/Social media

The Future of Digital Identity 2022

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