By Mark Bergen
Less than two weeks before the U.S. election, some political campaigns are dealing with an unexpected obstacle on YouTube, the internet’s largest video site: there isn’t enough space to run their ads.
Campaigns have flooded YouTube with commercials in search of voters they may not be reaching on television. Yet despite its nearly endless supply of video clips, YouTube has been struggling to place these ads in front of the desired audience.
The site has a particular shortage of ad slots in critical swing states, causing prices to double in some instances. This makes political ads more lucrative for Alphabet Inc.’s Google, which owns YouTube. …
By Vildana Hajric
Bitcoin surged to the highest level since July 2019 after PayPal Holdings Inc. announced it will allow customers to use cryptocurrencies.
The largest digital coin increased as much as 4.9% to $12,488 Wednesday, surpassing the previous high for the year of $12,473 set in August. Gains among so-called alt coins were even larger, with Litecoin jumping more than 11% and Bitcoin Cash surging 8%.
PayPal customers can use select cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin on the platform.
Mike Novogratz, who runs Galaxy Investment Partners, on Twitter called it “the biggest news of the year in crypto,” adding that banks will embark on a race to service digital currencies. …
By David McLaughlin
The U.S. Justice Department filed an antitrust lawsuit against Alphabet Inc.’s Google, accusing it of abusing its monopoly in search in the most significant antitrust action against an American company in more than two decades — and possibly a century.
Google, which controls about 90% of the online search market in the U.S., was sued by the Justice Department Tuesday in Washington, according to court records. The complaint, which was joined by 11 Republican state attorneys general, wasn’t immediately available.
Google shares fell less than 1% at 9:30 a.m. in New York.
The complaint is the first phase of what’s shaping up as a multi-pronged attack against Google. Texas Attorney General Ken Paxton is preparing a complaint against the company over its conduct in the digital-advertising market, where it controls much of the technology used by advertisers and publishers to buy and sell display ads across the web. …