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Former Facebook employee Frances Haugen electrified Washington on Tuesday with testimony about how the company knew about potential harm to users and decided to hide that information.

The new privacy guidelines are one-third their previous length. But experts say it doesn't change how much data the company will continue to gather from users.

The combined wealth of the 400 richest Americans is about $1.37 trillion, Forbes magazine reports. Bill Gates, the founder of Microsoft, tops the list.

The previous estimate was 50 million. Facebook also said "malicious actors" abused a feature that allowed users to find each others' phone numbers and email addresses. The feature is being disabled.

Facebook says that by next year people on apps like Whatsapp and Messenger will be able to basically text payments. This news comes as regulators are asking if the tech giant is already too powerful.

Facebook announced Tuesday it plans to create its own digital currency, called Libra. It's a way for Facebook to play the role that governments play in issuing money.

"As unprecedented numbers of people channel their political energy through this medium, it's being used in unforeseen ways with social repercussions that were never anticipated," says Facebook.

The social networking site with 1.2 billion users released a cyberbullying prevention hub with suggestions on how to start conversations, both online and off, and take action on Facebook. It's the first step — but one digital advocacy group says it should have been taken earlier.

Facebook CEO Mark Zuckerberg gave his condolences to the family of a man murdered in Cleveland on Sunday, whose attacker shared videos of the killing on the social network.

COO Sandberg talks about the miscalculations that made it possible for the research firm Cambridge Analytica to collect data on as many as 87 million users without their permission.