Report: Twitter To Ban Cryptocurrency Ads Following Facebook And Google’s Announcement To Do The Same

Cryptocurrency has caused a shortage of GPUs in the market which resulted in the GPU prices to go sky high, however, following Facebook’s announcement to ban cryptocurrency ads, Twitter is all set to follow in the footsteps of Facebook and Google by announcing it will start to ban cryptocurrency ads.

According to the report, Twitter will impose a ban on ads for ICOs, cryptocurrency wallets and token sales within two weeks time. While Twitter has not revealed the reason behind this ban but is most probably doing this to protect its users from scams.

In related news, a report suggests that GPU demand for cryptocurrency mining has slowed down and GPU giant, Nvidia, is preparing for the future to make sure that such shortages won’t happen again.

According to DigiTimes, “GPU demand for cryptocurrency mining has shown signs of a slowdown prompting NVIDIA to practice strict control over inventory levels.”

Seems like the GPU giant doesn’t want to repeat the same mistake twice and intends to prevent GPUs selling out to cryptocurrency miners.

NVIDIA also has further increased its GPU quotes recently, which the sources believe is meant to help cover the gap that may occur after GPU demand starts sliding. Since profitability from graphics cards has been weakening, NVIDIA and AMD have both been decelerating the developments of their new GPU architectures and prolonging their existing GPU platforms’ lifecycle.

However, Nvidia has predicted that hat GPU prices will continue to increase in 2018. According to the company, “the pricing in the market will continue to go up through Q3 of this year most likely before we start seeing any type of relief”.”

What do you think of Facebook, Google and Twitter banning cryptocurrency ads? Let us know in the comments.

Source: Sky