Outgoing Swiss President Ueli Maurer, who is also the country's finance minister, said Friday that Facebook's cryptocurrency Libra has "failed" in its current form "because central banks will not accept the basket of currencies underpinning it," CNBC reports.
Why it matters: The project is seeking regulatory backing in the country, as it will be issued and governed by the Geneva-based Libra Association.
Spotify announced Friday that it will suspend political ads in early 2020 for its nearly 130 million ad-supported listeners, Ad Age reports.
The big picture: The streaming giant, which said it lacks the resources "to responsibly validate and review" such content, is the latest tech company faced with attempting to figure out how to best handle misinformation and political ads.
Portuguese soccer star Cristiano Ronaldo is the highest paid athlete on Instagram, according to a study by analytics company HooperHQ, raking in more than twice what he earns from his contract with Juventus.
The big picture: The power of social media not only highlights soccer’s global reach, but also provides top athletes with another revenue stream in a sport where a single injury can end a career. In 2019, 49 sponsored Instagram posts earned Ronaldo $47.8 million, about $14.7 million more than he's paid by Juventus.
