NewsPublication Date: 2018-04-17
SAN FRANCISCO — The embattled political data firm Cambridge Analytica quietly sought to develop its own virtual currency in recent months through a so-called initial coin offering, a novel fund-raising method that has come under growing scrutiny by financial regulators around the world. The offering was part of a broader, but still very private push that the firm was making into the nascent world of cryptocurrencies over the last year. Much like its acquisition of Facebook data to build psy...
Illustration: Angelica Alzona/Gizmodo Sitting with a friend in a bar in mid-March, a former Cambridge Analytica employee said he was having a beer when someone texted him Facebook’s announcement that it was kicking the data firm off its platform “pending further information.” “I just remember thinking, ‘Oh my God,’” he told Gizmodo. “This is going to be insane.” “I was like, ‘Man, what am I going to do?’” the former employee continued. “I won’t say the writing was on the wall, I didn’t nece...