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Facebook’s Cryptocurrency Project Suffers Massive Blow As MasterCard, Visa, eBay, And Others Withdraw From Libra

The future of Facebook’s cryptocurrency project is in jeopardy as many of the companies initially attached to Libra have jumped ship.Mastercard, Visa, eBay, Stripe, and Mercado Pago will all no longer participate in the Libra Association, the group working to launch Facebook’s proposed cryptocurrency, the Financial Times and Bloomberg first reported on Friday. Facebook confirmed […]


Facebook’s Mark Zuckerberg To Testify In Congress On The Cryptocurrency Libra

Facebook (FB) CEO Mark Zuckerberg is set to testify before the House Financial Services Committee on Oct. 23, according to the committee and the company.The hearing, entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors” will be largely focused on Libra, the company’s proposed blockchain digital currency.Democratic lawmakers on […]


Have at It, Libra: There’s No Apple Cryptocurrency on the Horizon

Don’t expect American tech powerhouse Apple to launch a cryptocurrency any time soon … or ever for that matter.Well, at least not while the company’s chief executive officer Tim Cook is at the helm. The CEO noted in a new interview with French financial newspaper Les Échos that he believes states, and not private entities […]


PayPal Withdraws From Facebook’s Libra Cryptocurrency

PayPal is withdrawing from Facebook’s Libra Association, the company announced Friday.“PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations,” PayPal said in a […]


Report: Launch Of Facebook’s Cryptocurrency Could Be Delayed

GENEVA – The launch of Facebook’s Libra could be pushed back to tackle the regulatory concerns that have been raised around the world, the head of the organization set up to oversee the cryptocurrency told Reuters.Three months ago, Facebook announced plans to launch the digital currency in June 2020, in partnership with other members of […]


Facebook Cryptocurrency will be Half Provided with Dollar

Cryptocurrency Libra will be 50% backed by the dollar. The rest will be supported by the euro (18%), the Japanese yen (14%), the British pound (11%) and the Singapore dollar (7%). This was announced in a letter from Facebook to German lawmaker and former member of the European Parliament Fabio De Masi.There is no Chinese […]


Facebook’s Endgame: Getting Inside Your Wallet

By now you’ve probably heard about Libra, the global digital currency that Facebook recently announced plans to develop. This past summer, the internet went ablaze trying to explain what Libra “really” is. A true cryptocurrency? (Depends on which nerd you ask.) A potential threat to the global financial system? (Jerome H. Powell, chair of the […]


Global Regulators Question Facebook On Libra Cryptocurrency

Global financial regulators questioned representatives from Facebook’s planned cryptocurrency Libra in Basel, Switzerland, on Monday.Fnality International and JPMorgan, which announced its own cryptocurrency in February, were also at the meeting focused on “policy and regulatory issues posed by the emergence of “stablecoin” initiatives backed by financial institutions and large technology companies,” according to a statement […]


FINMA Application From Facebook’s Cryptocurrency Libra Might Not Be Good Enough To Satisfy Regulators

The Libra Association, the group behind Facebook’s Libra digital asset, publicized its intentions and actions to obtain certification from Switzerland’s financial regulating body, FINMA, last week on September 11. On the same day, FINMA published its view on stablecoins (digital assets pegged to currencies), while also acknowledging the Libra Association’s efforts for approval. The Libra […]

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