Illustration: Sarah Grillo/Axios

Verizon announced on Thursday it will pull advertisements from Facebook and Instagram, per the company's chief media officer.

Why it matters: Verizon is one of the largest companies to join a growing boycott of the social network over its content moderation policies, including how it polices misinformation about Black Lives Matter protests, and handles content posted by President Trump..

What they're saying: “We have strict content policies in place and have zero tolerance when they are breached, we take action,” Verizon’s chief media officer John Nitti told Axios in a statement. “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with what we’ve done with YouTube and other partners.”

  • “We respect any brand’s decision, and remain focused on the important work of removing hate speech and providing critical voting information," Facebook's VP of Global Marketing Solutions Carolyn Everson said in a statement to Axios. "Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good."

Catch up quick: Six civil rights groups, including the Anti-Defamation League and NAACP, began urging marketers last week to stop buying Facebook ads, using the hashtag #stophateforprofit.

Our thought bubble, via Axios' Ina Fried: While best known for providing cell and wired internet service, Verizon owns AOL and Yahoo and aims to compete with Facebook for digital ad dollars.

Go deeper: Facebook takes down Trump campaign ads with symbol once used by Nazis

Go deeper

Why advertisers mistrust Facebook

Illustration: Sarah Grillo/Axios

More than 400 major advertisers, including Unilever, CVS, and Verizon, have pulled their ads from Facebook and Instagram as part of the #StopHateForProfit campaign organized by advocacy groups including Color for Change, NAACP, the Anti-Defamation League, and Sleeping Giants.

Why it matters: The ease with which the campaign has signed up advertisers is only in part a function of its intrinsic merits. It's clear that brand advertisers and their agencies kinda wanted to make this move anyway.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 1:30 p.m. ET: 11,679,808 — Total deaths: 539,764 — Total recoveries — 6,348,785Map.
  2. U.S.: Total confirmed cases as of 1:30 p.m. ET: 2,953,423 — Total deaths: 130,546 — Total recoveries: 924,148 — Total tested: 36,032,329Map.
  3. States: Arizona reports record 117 deaths in 24 hours.
  4. Public health: Trump administration invests $2 billion for drug treatments.
  5. Business: Breaking down the PPP disclosure debacle
  6. World: Brazil's President Bolsonaro tests positive— India reports third-highest case count in the world.

Mary Trump book: How she leaked Trump financials to NYT

Simon & Schuster

In her new memoir, President Trump's niece reveals how she leaked hordes of confidential Trump family financial documents to the New York Times in an effort to expose her uncle, whom she portrays as a dangerous sociopath.

Why it matters: Trump was furious when he found out recently that Mary Trump, a trained psychologist, would be publishing a tell-all memoir. And Trump's younger brother, Robert, tried and failed to block the publication of "Too Much and Never Enough: How My Family Created the World's Most Dangerous Man."