As the pressure continues to pile on Facebook, the social media giant is still determined to forge ahead with its grand crypto ambitions. As it realizes that the journey ahead is not going to be a smooth one the company is looking at alternative ways of getting its own currency off the ground and a…
Social media giant Facebook has certainly rattled the regulatory feathers of global regulators with its grand plans for cryptocurrency world domination. Politicians and citizens alike are right to question Libra and those that will be pulling the strings behind it. The G7 group of economic powerhouses agrees that such stablecoins should not be allowed to…
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…
David Marcus has stated that he is a fan of the original crypto asset. The newly-appointed member of the Libra board of executives added that differences between the currency, originally detailed by Facebook in June, and Bitcoin mean that the two are not in competition. Marcus, like many others, used the term “digital gold” to…
The golfing analogy was not lost as Facebook gets buried deeper in the digital rough while its crypto project partners run for the hills. In an interview with CNBC yesterday, US treasury secretary Steven Mnuchin said they may have feared heavy regulatory pressure. Threats For Crypto Consortium Speaking on CNBC’s ‘Squawk Box’, Mnuchin stated that…
Following the news that PayPal, MasterCard, Visa, eBay, and Stripe pulled out of Facebook’s foray into the crypto asset space, Booking Holdings Inc. has also withdrawn from the Libra project. The company operates both the Kayak.com and Priceline.com travel websites. Libra has faced intense regulatory scrutiny since it was first detailed this summer. Such pressures…
It comes as no surprise that Facebook is still on the receiving end of regulatory pressure from global economies. The social media giant has done the crypto industry few favors as all eyes are now on stablecoins and the outlook for them is predictably pessimistic. Bitcoin, however, has not been deemed a threat just yet.…
Wow. Within the span of an hour or two, reports have revealed that Facebook’s crypto project, Libra, suffered some heavy blows. It first started on Friday morning, with the Financial Times revealing that both eBay, the e-commerce/online marketplace giant, and Stripe, a fintech giant, have dropped out of the Libra Association. Speaking to the outlet,…
Ever since Facebook announced its crypto-asset dubbed Libra, the entire market, especially Bitcoin, has come under fire by regulators and their fears over the asset class’s use in criminal activities. However, one former United States Department of Justice prosecutor turned crypto venture capitalist, says that while Bitcoin is regularly used for illegal activities, it’s not…
Facebook’s ambitious crypto project Libra is running out of steam as it gets hounded by regulators and governments around the world. The social media giant was dealt another blow yesterday when major project partner PayPal announced that it was jumping ship, but the Coinbase boss thinks the US should reconsider its negative stance. Rats Desert…