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Photo: Tobias Hase/Picture Alliance via Getty Images

Facebook CEO Mark Zuckerberg testified during a Federal Trade Commission hearing this week as part of the agency's antitrust investigation into the social media company, Politico reports.

Why it matters via Axios' Ashley Gold: The FTC deposing Zuckerberg is not a surprising move in an antitrust case that may result in a lawsuit. It also gives the agency some cover after being criticized for not having Zuckerberg testify in the Cambridge Analytica data scandal case.

  • Zuckerberg's testimony could be used to help the FTC and state attorneys general build a case against the social network, per Politico.
  • Yes, but: That does not necessarily mean the FTC will be taking legal action against the tech giant.

The state of play: Zuckerberg testified before a House panel investigating antitrust violations in July regarding his company's acquisitions of Instagram and WhatsApp.

What they're saying: “We are committed to cooperating with the U.S. Federal Trade Commission’s inquiry and answering the questions the agency may have," a Facebook spokesperson told Axios.

  • The FTC told Axios the agency has no comment at the moment.

Go deeper

Tech's Biden-era reset

Illustration: Aïda Amer/Axios

Joe Biden's transformation into president-elect Saturday kicks off a new era for tech, giving an industry that's found itself increasingly at odds with government the chance for a reset.

The big picture: Biden's ascent could see the restoration of some tech-friendly Obama-era policies but is unlikely to end the bipartisan techlash that grew during Trump's term.

Surprising pandemic side effect: Soaring trade deficits

Source: Census Bureau and Bureau of Economic Analysis; Chart: Axios Visuals

Inflation and jobs may get all the economic headlines, but meanwhile a big shift is taking place in the underpinnings of the world economy: The U.S. trade deficit is soaring.

What's happening: Americans' spending on imported physical goods has gone through the roof, while exports are growing slowly, making the U.S. the world's consumer of last resort.

Mike Allen, author of AM
2 hours ago - Politics & Policy

Third Way: "Big Lie" could become "Big Coup"

Graphic: Third Way

Third Way, the center-left think tank, is urging fellow Democrats to respond to the Capitol riot with "the size, scope, and seriousness of a presidential campaign," co-founder Matt Bennett tells me.

Driving the news: "For the first time in U.S. history, a party must mount two parallel presidential campaigns: one to win the election, and the other to prevent its theft," Bennett said, calling this "a Paul Revere moment."