The world’s largest social media company has faced nothing but criticism since it announced grand plans to dominate global finance markets with its own crypto coin. Red flags were raised by governments and central banks across the planet over the threat that Libra proposes to their own sovereignty. Zuckerberg’s Crypto Woes In an interview with…
The CEO of a social investment firm believes that Facebook will have anticipated regulatory scrutiny. Kerim Derhalli of Invstr says recent issues for the social media giant will have prepared it well to deal with lawmakers with regards the crypto asset project. He also says that he thinks the project ambitious. This may force Facebook…
The majority of US politicians are anti-crypto and Bitcoin. Either through fear, or lack of knowledge, they view digital currencies as a threat to their own system which is highly controlled and often manipulated. One congressman however thinks Facebook should dump Libra in favor of Bitcoin. Libra is Still a “Shitcoin?” Ohio state congressman Warren…
Recent new members to the Libra Association look set to contribute capital, potential user bases, and technical expertise to help the project win favour with regulators. Yet, contrary to what you might have heard, Libra really isn’t a threat to Bitcoin.The Libra Association recently added the Canadian e-commerce platform Shopify and crypto startup Tagomi to…
Bitcoin (BTC) surge, adds 15 percent Brian Kelly dismissive of Libra Libra is the key that opens the door for the masses. Hosting more than two billion users, Facebook is the catalyst, introducing the world to Bitcoin and cryptocurrencies. Even so, Brian Kelly says Libra is more of a digital fiat than a cryptocurrency. Bitcoin…
Vodafone has become the latest major company to withdraw from Facebook’s Libra cryptocurrency project. The telecoms firm joins eBay, Mastercard, PayPal, Stripe and Visa in quitting the association set up to develop a new global currency that would work across Facebook’s suite of apps. “We have said from the outset that Vodafone’s desire is to make…
Following a couple of weeks of outright lambasting by US lawmakers, Facebook’s Libra crypto project appears to be cracking at the seams before it even gets off the ground. A fresh round of regulatory pressure has piled on this week from concerned countries around the world. Facebook Crypto Angst Escalates In the two months following…
Facebook has revealed more details about its controversial cryptocurrency project, unveiling which currencies will be used to back it. In a letter to German politician Fabio de Masi, Facebook said that half of the Libra cryptocurrency would be backed by reserves of US dollars, while the euro, Japanese yen, British pound and Singapore dollar would also…
Facebook‘s controversial cryptocurrency project has “failed” in its current form, according to the Swiss president. Ueli Maurer, who also serves as Switzerland’s finance minister, said that Facebook’s Libra would not be accepted by central banks and therefore not work as a currency. “I don’t think [Libra will succeed], because central banks will not accept the basket…
Contrary to the beliefs of many crypto critics, Facebook’s Libra will not be a Bitcoin killer. In fact the new digital coin from billionaire Zuckerberg et al may not even be available to some of the world’s largest markets. India Still Hates Crypto, Libra Included The world’s largest social media company has no plans to…