No word yet from Facebook on the cause of the issue or when a fix will be available.
One HuffPost reader, Martin G., wrote in with his experience and offered some speculation on what may be contributing to the app's issues:
It seems facebook app is the victim of some bad JavaScript, either because they have changed something in their dynamic content, ads or perhaps something more sinister. I have not dug into how facebook displays it's [sic] pages and I have no previous frame of reference to make a positive conclusion but what I did find is that facebook.com on the ipad safari browser reports and [sic] error a short time after loading the news feed. That same error seems to be causing the app to crash when loading the "live news" feed.