Trusted

Facebook Whistleblower Supporting Herself With Crypto Purchased ‘At the Right Time’

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram

In Brief

  • Facebook whistleblower Frances Haugen said she purchased crypto at a pivotal time.
  • Whistleblowers have been known to support and use crypto.
  • Once again, the crypto market has an important argument for its case against centralized systems.
  • promo

Speaking to the New York Times, Facebook whistleblower Frances Haugen said that she had purchased crypto at the right time. The investment has allowed her to support herself as she experiences the difficulties of being under the spotlight.

Frances Haugen, the Facebook whistleblower who publicized internal documents that showed encouraging the spread of misinformation to keep user engagement, has been supporting herself with cryptocurrency purchases. Haugen told the New York Times that she “bought crypto at the right time,” which has enabled her to live sufficiently for the foreseeable future.

Haugen was formerly a product manager at Facebook, and her story has captivated the world’s attention as the social media giant comes under ever more scrutiny for its practices. She released tens of thousands of documents, much to the shock and excitement of media outlets, who are scrambling to go over the trove of information to learn more about Facebook’s practices.

Facebook’s business practices have long been under the microscope, but the recent revelations give a far more thorough look at the lengths the platform goes to. Haugen’s remarks seem to imply a moral motivation for the leak, and she says that the tactics have particularly worrying consequences in India and the Middle East.

Haugen is now under the spotlight, and her life has no doubt been upended by the developments. The fact that there exists a financial instrument that she can rely upon without too much concern is a testament to crypto’s growth and utility.

Crypto proving to be valuable financial investment

Cryptocurrencies have long been utilized by whistleblowers and those outcasts, with much success. Arguably the most famous whistleblower in recent times, Edward Snowden, has also expressed support for the asset class, in a world where governments become increasingly controlling.

Being decentralized and therefore uncensorable, Haugen and other whistleblowers have reliable financial resources as they face the wrath of large corporations or governments. This benefit has been touted many times by crypto enthusiasts before, but only such high-profile cases really bring the public’s attention to it.

Facebook is also launching its own cryptocurrency, Diem, which has had a mostly negative reception from the cryptocurrency community. Lawmakers have also shown tremendous concern for what they fear might be a tool that gives Facebook even more influence. The social media juggernaut has had to redesign its stablecoin, which is now expected to launch pilots around the end of the year.

🎄Best crypto platforms in Europe | December 2024
eToro eToro Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
3Commas 3Commas Explore
🎄Best crypto platforms in Europe | December 2024
eToro eToro Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
3Commas 3Commas Explore
🎄Best crypto platforms in Europe | December 2024

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Rahul-Nambiampurath.jpg
Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
READ FULL BIO
Sponsored
Sponsored