fbpx

Facebook

Home » Facebook

Facebook-Led Libra Forms Governing Council After Big-Name Departures

GENEVA — Twenty-one organizations have signed the Libra Association charter, days after a slew of high-profile defections from the cryptocurrency project started by Facebook. The Libra Association also named its board of directors and formalized the consortium’s executive team following a meeting in Geneva, Switzerland. Facebook still remains a key player in the project with Calibra CEO and former Facebook blockchain lead David Marcus taking a seat on the five-person board. Other board members include …

Facebook-Led Libra Forms Governing Council After Big-Name Departures Read More »

Visa, Mastercard, eBay, Stripe Follow PayPal in Quitting Facebook’s Libra Project

UPDATE (Oct. 11, 2019, 20:27 UTC): Mastercard and Visa have also confirmed they will not be joining the Libra Association. UPDATE (Oct. 11, 2019, 22:57 UTC): Payments platform Mercado Pago confirmed to CoinDesk that it, too, would “suspend its participation” in the Libra Association. Mastercard, Visa, digital auction company eBay, payments firm Stripe and Mercado Pago have all pulled out of the Facebook-led Libra Association. The Financial Times reported Friday that eBay and Stripe dropped out of …

Visa, Mastercard, eBay, Stripe Follow PayPal in Quitting Facebook’s Libra Project Read More »

US House Committee Pressuring Zuckerberg to Testify on Libra: Report

Facebook CEO Mark Zuckerberg is facing pressure to testify before U.S. lawmakers on the firm’s cryptocurrency project Libra. According to a report from The Information on Friday, Sheryle Sandberg, chief operating officer of the social media giant, was invited to testify before the U.S. House of Representatives Financial Services Committee on October 29 concerning the new payment network. However, the body will not finalize the hearing until Zuckerberg also agrees to testify before January 2020, the …

US House Committee Pressuring Zuckerberg to Testify on Libra: Report Read More »

PayPal Might Withdraw From Libra Association: Report

One of the founding Libra Association members may be on the verge of pulling out. The Financial Times reported Thursday that payments firm PayPal is considering leaving the Facebook-initiated crypto project due in part to the regulatory backlash Libra has received in recent months. According to the Financial Times, PayPal representatives did not attend a Libra Association meeting on Thursday, in what may be a sign of the broader turmoil. Facebook first revealed Libra in …

PayPal Might Withdraw From Libra Association: Report Read More »

American Banking Giants Sound Off Against Libra as Monetary Threat

As if the financial establishment has not been vocal enough about its resistance against Libra, their displeasure was noted in an official complaint to the central bank. Executives from some of the biggest American banks told the Federal Reserve that Facebook’s cryptocurrency Libra would pose a threat on monetary policies in the US, Bloomberg reported. “Facebook is potentially creating a digital monetary ecosystem outside of sanctioned financial markets — or a ‘shadow banking’ system,” banks …

American Banking Giants Sound Off Against Libra as Monetary Threat Read More »

ECB Exec Says Libra Could Address Failings of Global Payments System

Facebook’s Libra has pushed central banks to consider two major issues in global payment systems, an exec at the European Central Bank (ECB) said. Benoit Coeure provided his remarks at a hearing at the Committee on the Digital Agenda of the German parliament on Sept. 25. According Coeure, an ECB board member and chair of the Committee on Payments and Market Infrastructure, global payment systems still lack access and efficiency of cross-border retail payments. As such, …

ECB Exec Says Libra Could Address Failings of Global Payments System Read More »

Facebook Reveals Libra Crypto’s Currency Basket Breakdown: Report

Facebook has reportedly revealed the percentage breakdown of a basket of global currencies that will underpin its Libra cryptocurrency. While it’s already known that 50 percent of the basket will be on the U.S. dollar, the German newspaper Der Spiegel said in a report on Friday that the remaining portion will consist of the euro, the yen, the British pound and the Singapore dollar, with 18 percent, 14 percent, 11 percent, and seven percent, respectively. The basket will not …

Facebook Reveals Libra Crypto’s Currency Basket Breakdown: Report Read More »

Square Crypto Hires Lightning, Libra Developers for ‘Bitcoin Dream Team’

Square Crypto, the division of the publicly traded payments company that focuses exclusively on bitcoin, just announced three new hires to work on open source projects. Among them is Facebook and BitGo alum Arik Sosman, most recently a member of the social media giant’s Calibra subsidiary. He told CoinDesk: “My personal areas of interest are privacy and [Layer 2] scalability, though we’ll see what the team ultimately ends up working on. … I’m extremely excited …

Square Crypto Hires Lightning, Libra Developers for ‘Bitcoin Dream Team’ Read More »

Facebook’s David Marcus Responds to Critics Over Libra ‘Threat’

The head of Facebook’s Calibra – the entity created by Facebook to provide financial services including a digital wallet for the planned Libra cryptocurrency – has spoken out in response to claims from authorities that the project poses a threat to nations’ “monetary sovereignty.” In a Twitter thread on Monday, David Marcus, who co-created Libra, said he wanted to “debunk” that notion – one most notably promoted by France’s Economy and Finance Minister, Bruno Le Maire. …

Facebook’s David Marcus Responds to Critics Over Libra ‘Threat’ Read More »

Libra Confident, France Angry, Domino’s BTC Prize: Hodler’s Digest, Sept. 9–15

Top Stories This Week Facebook’s crypto launching in H2 2020, says Libra Association chief The head of the not-for-profit driving Facebook’s Libra digital currency has said he is confident that seemingly endless regulatory difficulties can be ironed out — paving the way for the token to launch in the second half of 2020. Bertrand Perez’s comments came on Thursday — the same day French Finance Minister Bruno Le Maire warned “we cannot authorize the development …

Libra Confident, France Angry, Domino’s BTC Prize: Hodler’s Digest, Sept. 9–15 Read More »

Scroll to Top