*By Alex Heath*
Facebook said Friday that it won’t partner with the crypto firm Stellar, despite a report that the two companies recently held talks.
“We are not engaged in any discussions with Stellar, and we are not considering building on their technology,” a Facebook spokesperson told Cheddar.
Business Insider [reported](https://www.businessinsider.com/facebook-is-talking-to-cryptocurrency-stellar-about-making-a-big-move-into-crypto-2018-7) Friday that Facebook had discussed creating its own variant of the Stellar blockchain network. Stellar didn’t respond to Cheddar’s request for comment on the report.
Stellar’s cryptocurrency asset, called Lumens, is the sixth most valuable at around $4.3 billion. After the Business Insider report, the price of Lumens spiked by roughly 10 percent on Binance, the world’s largest crypto exchange.
On Friday, before the Business Insider report, Facebook vice president David Marcus [stepped down from the board](https://www.coindesk.com/facebooks-david-marcus-steps-down-from-coinbases-board/) of the crypto exchange Coinbase citing a conflict of interest.
Earlier this year, Marcus was put in charge of forming a group of Facebook employees dedicated to developing blockchain technology, and [Cheddar reported](https://cheddar.com/videos/facebook-plans-to-create-its-own-cryptocurrency) that the group was exploring the creation of a Facebook cryptocurrency.
“Because of the new group I’m setting up at Facebook around blockchain, I’ve decided it was appropriate for me to resign from the Coinbase board,” Marcus said in a statement to Cheddar. “I’ve been thoroughly impressed by the talent and execution the team has demonstrated during my tenure, and I wish the team all the success it deserves going forward."
The Federal Trade Commission has begun notifying people that they may be entitled to some claims from Fortnite after a settlement from alleged deceptive business practices.
The Federal Reserve continues to meet over monetary policy but is expected to hold rates steady.
Eli Lilly is suing 10 medical spas, wellness clinics and compounding pharmacies across the country for allegedly selling cheaper counterfeit drugs.
Brenda LaManna, founder and president of Damselfly Flowers, and Warren Schorr, senior vice president with Crayola, joined Cheddar News to discuss how and why the famous Crayon company is launching an online flower business.
Ed Egilinsky, managing director and head of sales and distribution and alternative with Direxion, joined Cheddar News to discuss how short-term traders are preparing for any forward-looking guidance from the Federal Reserve about any potential rate hikes. Egilinsky also discussed how traders are looking at the overall banking sector for the short-term.
Mark Spoonauer, global editor-in-chief with Tom's Guide, joined Cheddar News to get a sneak peek at some of Apple's new products that are set to be released to the general public, including the iPhone 15 and Apple Watch.
Stocks rose Wednesday ahead of the Federal Reserve's continued two-day meeting on its monetary policy.
Kraft Heinz said Tuesday it's recalling more than 83,000 cases of individually-wrapped Kraft Singles American processed cheese slices because part of the wrapper could stick to the slice and become a choking hazard.
California regulators on Tuesday ordered one of the country’s oldest bottled water brands to stop using some of the natural springs it has relied on for more than 100 years to market its products throughout the western U.S.
Parents whose kids bought virtual gear without their knowledge on the popular Fortnite video game could soon be able to get a refund.
