Facebook Whistleblower Says She is Fine Financially Because Of Buying Crypto 'At The Right Time'
Former Facebook Inc (NASDAQ:FB) product manager Frances Haugen, who accused the social media giant of betraying democracy, is also a cryptocurrency investor.
What Happened: The revelation was made by Haugen in an interview with The New York Times on Sunday.
Haugen told the Times that she was not reliant on the eBay Inc (NASDAQ:EBAY) co-founder Pierre Omidyar for financial support.
“For the foreseeable future, I’m fine, because I did buy crypto at the right time,” Haugen told the Times.
The whistleblower reportedly said that she moved to Puerto Rico to join her “crypto friends” on the island and to cope with a health condition.
See Also: How To Buy Facebook (FB) Shares
Why It Matters: Cryptocurrencies, including the apex cryptocurrency Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE), have seen major spikes this year.
Last week, BTC hit an all-time high of $66,930.39. At press time, it traded 1.28% higher over 24 hours at $61,684.22.
Haugen acknowledged to the Times that she has accepted help from nonprofit groups backed by Omidyar only for travel and similar expenses, as per the Times.
This month, Haugen testified in front of the U.S. Senate on how the Mark Zuckerberg-led company puts “profits before people.”
Haugens also pointed out that Facebook "has repeatedly misled the public" about the safety of children, the accuracy of artificial intelligence systems, and its spread of divisive and extreme messages.
Facebook plans a rebrand, which would dissociate its futuristic plans from the scrutiny its social media networks are facing, the Verge reported last week.
Price Action: On Friday, Facebook shares fell 5.05% to $324.61 in the regular session.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
