Cambridge Analytica planned to launch its own cryptocurrency

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In front of the theatre of Congress, Zuckerberg - having prepped for weeks in practice sessions and having discarded his characteristic grey T-shirt and hoodie (rumoured to cost as much as $2000 - but that's according to social media, of course) in favour of a suit and tie to lend gravitas to his pitch - presented Facebook as a benign and socially useful device whose sole objective is to connect everyone to everyone.

While numerous concerns had been raised over the uninformed data collection of over 87 million Facebook users, the actual number of people affected may be far more.

The European Parliament on Wednesday demanded Facebook chief Mark Zuckerberg appear in person to answer questions about the Cambridge Analytica scandal, rejecting his offer to send a more junior executive in his place.

"I do not know the specifics of these surveys or how the data was acquired or processed". Facebook shut down a variety of analytics tools that business profiles were using to preserve the integrity of at least one of its owned social networks.

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What with it being used to harvest tens of millions of personal accounts data from Facebook and its technology's alleged use in the rigging of elections on an global scale, it's safe to say that Cambridge Analytica is amongst the most toxic names in the business these days.

Alexander Nix, former Cambridge Analytica CEOCambridge Analytica, SCL Group's American division and the company accused of harvesting the data of up to 87 million Facebook users, was working on launching its own Initial Coin Offering (ICO), according to a New York Times report.

"I am aware in a general sense of a wide range of surveys which were done by CA or its partners, usually with a Facebook login - for example, the "sex compass" quiz", she added.

Almost half (44%) strongly believe Facebook has an obligation to inform them if their personal information had been lost or stolen, with many angered that Facebook didn't reveal the data breach when it first discovered it in 2015. Zuckerberg said this was a "breach of trust" and that Facebook is taking steps to make sure it doesn't happen again.

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He said his belief that Clinton would win the 2016 election was probably a factor in his decision to talk about the investigation. Trump on Sunday pushed back again against Comey's claims that Trump sought his loyalty, saying, "I hardly even knew this guy ".

Testifying in front of Congress, Mark neither had the luxury of time nor the appropriate platform to explain in detail, but has now published a blog post to demystify Facebook's policies, as he had promised to do during his testimony.

So just how many more users data has been compromised?

When you visit a site or app that uses our services, we receive information even if you're logged out or don't have a Facebook account. But when asked about a specific practice, such as collecting data about your location even when you're not using Facebook, nearly 70 percent of people did not expect the company to do so.

"I believe individuals should have access to their data as their property", she said.

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Facebook Inc (NASDAQ:FB) users in IL sued the company in 2015 for violating a state privacy law. Folks can, of course, turn off the service via Facebook's privacy settings.

Ever since the news broke, a number of people have stopped using Facebook.