Business News Report
February 06, 2024

Google Faces US Antitrust Trial Over Digital Ads Amidst Bitcoin ETF Campaign Support

Google Faces US Antitrust Trial Over Digital Adds Amid Aiding Bitcoin ETF Campaigns

United States federal judge set a new date for initiating a jury trial in a lawsuit filed by the United States Justice Department (DOJ) and a coalition of states against technology company Google. The lawsuit, filed last year, asserts that Google has been involved in misusing its dominance in digital advertising technology.

The lawsuit alleges that Google has engaged in monopolistic practices within the digital advertising market, impeding fair competition. The government contends that an appropriate resolution should entail compelling Google to divest its advertisement manager suite.

Google has refuted the accusations, asserting that a successful lawsuit outcome could hinder innovation, escalate advertising expenses, and pose challenges for many small businesses and publishers in their endeavours for growth.

The DOJ, alongside Virginia and other states, suggested a July trial date for the Alexandria, Virginia proceedings. United States District Judge Leonie Brinkema conveyed in a statement that holding a trial during the summer would have posed logistical difficulties.

In a separate legal proceeding, Google is slated for a trial in United States federal court in Texas in March 2025. This case centers around a challenge to Google’s ad tech practices initiated by Texas and other states. In another legal context, a United States judge in Washington expects to wrap up proceedings in May, listening to closing arguments in lawsuits filed by the DOJ, Colorado, and other states, addressing Google’s dominance in web search.

The Core of Ambiguity Behind Google’s Advertisements 

Google consistently presents itself as a technology company, making substantial investments in various technological domains. However, its primary business focus is online advertising. In 2023, Alphabet, the holding company for Google, generated almost $307.4 billion in revenue. According to the company’s annual report, a significant portion of this, specifically $237.86 billion or nearly 80%, originated from Google’s advertising business.

Despite facing legal challenges related to advertising in several United States courts, the company continues to expand its provision of advertisement services to additional domains.

Recently, Google revised its policy on cryptocurrency-related advertising to permit advertisements from “advertisers offering Cryptocurrency Coin Trust targeting the United States.” This adjustment in marketing regulations deliberately preceded the launch of spot Bitcoin exchange-traded funds (ETFs) by eleven asset management companies, including BlackRock, Grayscale, Fidelity, Invesco, and Bitwise, among others, in the United States last month. 

The modification into marketing regulations enabled asset management companies to initiate a comprehensive online advertising campaign for their respective Bitcoin ETFs, aiming to increase product visibility among a broad audience, emphasizing retail investors. 

Furthermore, amid heightened competition to provide lower fees, marketing endeavours became more favourable as advertising on platforms such as Google is proven more efficient than other attention-grabbing tactics.

In the face of legal challenges and evolving market dynamics, Google continues to navigate its role in the digital landscape, showcasing both the positive and negative aspects of its market dominance for various customers. 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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