XRP Price Targets $1.70 as Bullish Momentum Builds 
Morgan Stanley Launches Digital Asset Lab for Stablecoins and Tokenization 
US Stocks Slip as Treasury Yields Ease, AI Trade Rebounds 
Trump Eyes $54 Billion South Korean Investment in Alaska LNG 
Apple CEO John Ternus Plans Major Overhaul 
Asian Stocks Fall as Bond Yields and Oil Prices Surge 
Asian Currencies Mixed as Yen Weakens, RBA Hike Looms 
Pepco Raises FY26 Earnings Outlook, Unveils €400 Million Buyback 
Robinhood Chain Meme Coins Slide as Stock Token Locks Rise 
Goldman Sachs Private Credit Fund Sees Redemptions Ease in Q3 
OpenAI Seeks $30 Billion at $1.4 Trillion Valuation 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
Fed’s Williams Signals One More Rate Hike Before Year-End 
QNT Whales Move $10M to Exchanges After 400% Rally 
Goldman Sachs Eyes John Waldron as CEO Successor 
Australia Inflation Accelerates to 4% After RBA Rate Hike 
BMW Targets 3%-5% Auto Margin by 2028 in Recovery Plan 
Add as a preferred source on Google
Facebook is seeking the dismissal of the lawsuit filed by the U.S. Federal Trade Commission. The social media firm was said to have filed its second motion to dismiss the agency’s illegal monopolization on Monday, Oct. 4.
The government’s revised antitrust suit is forcing Facebook to sell its Instagram, and WhatsApp platforms for alleged monopoly, and Mark Zuckerberg’s company is trying to stop this by asking the judge to drop the case.
According to Reuters, Facebook stated in the court filing for the motion to dismiss that the FTC failed to give a plausible factual basis for labeling FB an “unlawful monopolist.” It added that it seems the agency had no basis for its allegation that the social media platform has or had a monopoly.
“The FTC challenges acquisitions that the agency cleared after its own contemporaneous review,” part of the statement in the motion to dismiss reads. “The case is entirely without legal or factual support and this is as true now as it was before.”
For this, Facebook is requesting the dismissal of the lawsuit, and the FTC declined to comment on the matter. It appears that the request was also based on the U.S. District Court for the District of Columbia Judge James Boasberg’s ruling in June that stated the FTC’s original complaint that was filed in December 2020 failed to provide proof that the company Facebook had monopoly power in the social networking market.
In response to this, the FTC amended its complaint in August this year by adding more details to prove its allegation that Facebook put down or bought its rivals. In its amended filing, the commission once again asked the judge to order the sale of the company’s Instagram and WhatsApp.
Meanwhile, CNBC further mentioned that prior to FTC’s filing of its amended complaint, Facebook submitted a petition for recusal against Lina Khan, the chairman of the FTC. The firm said she is not qualified to perform legal duties due to her past statements against the company.
Facebook stated that based on her statements, she already made up her mind about its liability. FB wants Khan to withdraw from participating in the House Judiciary subcommittee on the antitrust case, but the court denied the request in August.
