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Bank of England Governor Mark Carney has defended Facebook’s choice to create a new currency. Canadian news outlet TheStar reported Carney’s remarks on Oct. 15, noting that he highlighted the shortcomings of the current traditional financial system. Because of the inefficiency of the payments, Carey thinks that firms such as Facebook should be involved in projects like […]
Visa, EBay, Stripe and Mastercard have all announced that they are dropping out of Facebook’s Libra Association and its associated stablecoin project. Four companies abandon ship On Oct. 11, Bloomberg reported that Ebay, Stripe and Mastercard had decided to drop out of Facebook’s Libra cryptocurrency project. Within minutes, Visa said it had also decided not to join the Libra […]
Brad Garlinghouse, the CEO of blockchain payments network Ripple, thinks that Facebook will fail to launch its Libra digital currency before 2023. Garlinghouse bets on a three-year Libra delay Speaking in an interview with Fortune on Oct. 7, Brad Garlinghouse argued that regulatory pushback would continue to plague the project that was only announced in June, noting: “I would bet that Libra… […]
Another week, another of Crypto Tidbits. After last week’s collapse, Bitcoin (BTC) took some time to settle, finding itself trading in the low-$8,000s for an extended period of time. Analysts are currently divided over what this consolidation means for the cryptocurrency market’s short-term future, with some even arguing that this is a precursor to another bear market — […]
Facebook’s Libra digital currency developers have released a new roadmap outlining steps toward its mainnet launch, the CoinTelegraph reported. The update from the Libra Foundation published on Oct. 2 highlights various points of interest for both developers and those who operate the protocol’s nodes. Devs focus on mainnet preparations Currently running as a testnet, Libra aims to […]
Facebook’s Mark Zuckerberg had dinner with a handful of United States lawmakers, where he was met with intense scrutiny of Facebook’s proposed Libra stablecoin project, the CoinTelegraph reported. Zuckerberg grilled by Democratic lawmakers According to an article by the Washington Post on Sept. 19, Democratic Senator Mark R. Warner said Zuckerberg heard “consistent concerns about privacy, concerns around […]
Mark Carney, the Governor of the Bank of England, has suggested a transformation of the global financial system by replacing the United States dollar with a digital currency similar Facebook’s Libra. Delivering his speech at the U.S. Federal Reserve’s annual symposium in Jackson Hole, Wyoming, Carney said that a Libra-like digital currency could replace the U.S. dollar as the world’s […]
Ethereum’s co-founder Mihai Alisie is extremely concerned that Facebook is attempting to hoodwink regulators into approving a centralized “cryptocurrency,” according to a report by Bloomberg on July 11. In an interview with Bloomberg, Alisie stressed that Facebook is attempting to get regulator approval for its yet-to-be-released virtual currency Libra by claiming that it will not be centrally […]
United States President Donald Trump tweets about Libra:
According to McAfee, Facebook will impinge on the economic freedom of its owners, thus disregarding the main purpose of crypto.