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…
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 faces further scrutiny over its plans to launch its own currency, with representatives of the tech giant set to meet with global regulators on Monday. Officials from 26 central banks will gather in Switzerland to question Facebook over its Libra cryptocurrency and the perceived threat it poses to global financial stability. The meeting comes…
Facebook has offered $10,000 to any hacker able to find a flaw in its forthcoming Libra cryptocurrency. The public bug bounty was announced in a blog post by Libra's head of development, Michael Engle, who said the prize is designed to uncover any weaknesses in the cryptocurrency's underlying blockchain before it launches next year. "When…
On Friday, the Bank of England’s governor made a comment that was music to the ears of Bitcoin and crypto proponents. BITCOIN IS THE FUTURE 🙏🏽 pic.twitter.com/ITdKsG9HJ5 — Pomp 🌪 (@APompliano) August 23, 2019 According to reports from Reuters and Bloomberg, Mark Carney dropped a bombshell on a group fo central bankers and press at…
Since the announcement of Facebook’s Libra cryptocurrency, the crypto market and even the tech sector has never been the same. It’s got regulators up in arms about Bitcoin, crypto assets are crashing, and the project may not ever even see the light of day. Even partners have started to abandon the project. The topic came…
Facebook’s Libra project has been questioned by European Union anti-trust regulators. They are concerned about the project, popularly referred to as a cryptocurrency, restricting competition. Libra has been subject to immense scrutiny already from global policy and law makers. In fact, the company recently admitted that the regulatory pressure might force it to postpone or…
It’s been over a month since Head of Calibra, David Marcus faced a grilling at the hands of the Senate Committee. And considering Facebook’s track record on misuse of personal data, many predicted that Marcus would be walking into an inquisition. But despite that, there’s no denying that Libra jolted lawmakers into finally taking cryptocurrency…
A cryptocurrency entrepreneur who became a bitcoin millionaire when he was still a teenager has launched a new venture that he claims will "kill" Facebook's Libra. Erik Finman, 20, says peer-to-peer platform Metal Pay will be the first "all-in-one" cryptocurrency payments app and will change the way people send and receive money. “We’re going to finally…
The world’s most dominant cryptocurrency exchange, Binance, is not satisfied with being the best in the industry. It literally wants to own it as Facebook has done with social media. The latest ambitions from the Malta based company include a localized stablecoin initiative that will rival Libra. Facebook in the Firing Line Not only has…