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Facebook’s Libra Launch Was ‘Ridiculously Stupid,’ Blockchain Boss Says

Facebook’s unveiling of its proposed Libra cryptocurrency this summer was “ridiculously stupid,” according to the boss of a company building its own blockchain ecosystem.”The way they rolled it out … it was just so in your face,” R3 CEO David Rutter said at a recent company conference, according to Financial News. “There’s a lack of […]

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Facebook Shouldn’t Be Driving Libra Cryptocurrency Project, Ethereum Co-Founder Says

Facebook should not be spearheading the libra cryptocurrency project, according to a co-founder of the Ethereum blockchain.“I’m a big fan of projects like Libra,” Joseph Lubin told CNBC’s “Squawk Box” on Tuesday. “I don’t believe that Facebook … with the concerns that we have with respect to trust and personal identity in Facebook, should be […]

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Facebook’s Cryptocurrency Won’t Help The Poor Access Banks. Here’s What Would.

When Mark Zuckerberg testified before Congress to advocate for Libra, Facebook’s new venture in blockchain currency, he cast it as a way to alleviate global poverty. Millions of people in the United States, and billions worldwide, lack access to basic banking services in what he characterized as a “stagnant” and exclusionary financial system. “It’s failing […]

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With Congress Fixated On Facebook, China Has Taken The Cryptocurrency Lead

Just as the European Union bypassed the United States on data protection, China is poised for the great leap forward on cryptocurrency. Once again Congress is behind the curve on financial technology, craving self-serving media coverage before election season over understanding the trends and technologies shaping America’s financial future. While policymakers may have their grievances […]

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The Claim That Facebook’s Libra Is A Cryptocurrency Is False Advertising

“Everyone” says that Facebook’s Libra is a cryptocurrency. Long before Libra had been imagined, Bitcoin pioneered and established the brand new world of cryptocurrency. Bitcoin created the category, and has always been its leading exemplar. The white paper by the still-unknown Bitcoin creator and inventor spelled out his design goals and the main aspects of […]

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Russia To Ban Facebook If US Blocks Libra Cryptocurrency

A Russian government official says the nation will ban Facebook if the US decides to block the company’s Libra cryptocurrency.PUTIN AIDE: ASK US ABOUT LIBRASpeaking to reporters on Oct. 22, Dmitry Peskov, President Vladimir Putin’s special representative for IT confirmed his official position on Libra, as well as Telegram’s prospective cryptocurrency, Gram.“If Libra launches without […]

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Facebook Lays On the Charm for Its Libra Cryptocurrency Plan

Facebook’s ambitious plan to create a cryptocurrency that would replace traditional money all over the world appears to be on life support. Regulators and lawmakers have mocked it. Key partners like Visa and Mastercard have stepped away from it.But the company isn’t backing down. Facebook executives fanned out in the capital last week to court […]

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Facebook’s Libra Cryptocurrency Should Be Prevented: German Finance Minister

German Finance Minister Olaf Scholz on Friday redoubled his criticism of Facebook’s plans to launch its Libra cryptocurrency, and said creation of a new world currency should be prevented.Scholz, speaking with reporters at the IMF and World Bank fall meetings in Washington, cited growing concern about such “stablecoins” and the potential international risks they posed.The […]

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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 […]

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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 […]

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