Meta Introduces Paid Verification Subscription Service
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Updates and changes on social platforms are nothing new, but when a paid feature comes along, it raises a lot of excitement. And so it may be this time when it comes to Meta.
In this article:
- Chinese banking system
- A new paid verification subscription service
- FTX.US supported the policy
- Global economy
Chinese banking system
China's Banking and Insurance Regulatory Commission and the People's Bank of China jointly released revised draft legislation on Saturday to help banks.
The draft regulations, which bring the banking sector closer to global standards, will divide lenders into three groups depending on the scale of business and the level of risk.
The rules will apply to banks in a diverse regulatory regime.
In addition, the rules will include more detailed factors to measure banks' exposure to mortgage risk, such as property types, repayment sources and loan-to-collateral ratios.
Both regulators stated that the implementation of the new rules will leave the capital adequacy ratios in the banking sector generally unchanged.
China refines capital and risk management of commercial banks https://t.co/nqftiLkYb9 pic.twitter.com/xO57Z9V6Wc
— Reuters Business (@ReutersBiz) February 19, 2023
A new paid verification subscription service
Meta introduces a new paid verification subscription service called Meta Verified, CEO Mark Zuckerberg has announced.
For $11.99/month on the web and $14.99/month on iOS, Instagram and Facebook Meta users will be able to submit their government ID and receive a blue verification badge. The service will roll out in Australia and New Zealand this week.
In the past, Meta has vetted high-profile users such as politicians, executives, members of the press, and organizations to signal legitimacy. The company's new subscription service is similar to Twitter's revamped service called Twitter Blue, which also provides users with a verification badge if they pay a monthly fee.
Meta is rolling out a new paid verification subscription service for Instagram and Facebook users https://t.co/Omc8fFNzO4
— CNBC (@CNBC) February 19, 2023
FTX.US supported the policy
According to data from OpenSecrets.org, among the top 10 organizations supporting political campaigns in the US in 2022, FTX.US ranked third.
Of the three former FTX directors, 67% of the contributions went to Democratic parties, candidates and liberal groups.
The year before FTX collapsed, former FTX CEO Sam Bankman-Fried donated at least $46.4 million to political groups.
Despite FTX's announcement in December 2022 of withdrawing donations, the growing influence of cryptocurrency executives on U.S. politics is evident as digital assets become more mainstream and politically significant.
1/ https://t.co/RgAGJ58UgP was ranked 3rd among the top 10 organizational contributors to political campaigns in the US in 2022 🇺🇸
— CoinGecko (@coingecko) February 19, 2023
Read the full study: https://t.co/APy0C8yiAw pic.twitter.com/n8ebjvlwx4
Global economy
The global economy is expected to slow down this year, only to pick up again next year. Growth will remain weak by historical standards as the fight against inflation and Russia's war in Ukraine take a toll on activity.
Growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, solid household consumption and business investment, and a better-than-expected adaptation to Europe's energy crisis. Elsewhere, China's sudden reopening paves the way for a rapid recovery in activity.
The outlook for 2023 has improved, but the road back to full recovery, with sustainable growth, stable prices and progress for all, is just beginning.
Want to know what's next for the global economy? Watch our Charts in Motion or check out our blog post. https://t.co/0f3Ps3RYzr pic.twitter.com/h5NJyepNZx
— IMF (@IMFNews) February 19, 2023
