Britain's Cambridge Analytica, which was alleged to be behind the data leak of as much as 87 million Facebook users, was earlier planning to raise money by issuing a new type of cryptocurrency, reports said citing sources familiar with the matter.
The data analytics consultancy was planning to raise as much as $30 million and had approached a company that advises on initial coin offering or ICO, an online fundraising scheme for the issue of a new digital currency.
The firm is said to have started working on its own ICO in mid-2017, with the efforts overseen by then CEO Alexander Nix and former employee Brittany Kaiser.
Reuters reported, citing a Cambridge Analytica spokesman, that the firm was looking at using blockchain, the technology behind bitcoin and other digital currencies, to help people secure their online data.
Further, The New York Times reported, citing documents and emails, that Cambridge Analytica tried to promote another group's digital token, the Dragon Coin, a cryptocurrency aimed at casino players. The coin is said to be associated with a famous gangster in Macau, Wan Kuok-koi, who has the nickname Broken Tooth.
The British consultancy was under intense scrutiny in the last month after reports of it improperly gaining access to personal data of a huge number of Facebook users.
For comments and feedback contact: editorial@rttnews.com
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.