zuckerberg-spins-congress:-back-facebook-cryptocurrency-or-let-china-win

Mark Zuckerberg will appear before Congress on Wednesday to defend Facebook’s controversial ‘cryptocurrency’ project, Libra. In his prepared remarks, the Facebook CEO will tell lawmakers that America risks losing “financial leadership” to China if they don’t get behind his company’s plan. Referring to China’s proposed digital currency, which is expected to launch before the end…

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democrats-attack-mark-zuckerberg-for-‘ruined-lives’-of-african-americans

In a Congressional hearing meant to discuss Facebook CEO Mark Zuckerberg’s plans for “Libra,” a digital currency, two Democratic Congress members attacked Zuckerberg for Facebook’s alleged racism. Rep. Joyce Beatty, D-Ohio, claimed Zuckerberg and Facebook have ruined the lives of many African-Americans, and berated Zuckerberg for not knowing the intricacies of Facebook’s Civil Rights task…

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big:-facebook-to-halt-cryptocurrency-project-amid-scrutiny

Facebook said in a prepared statement Tuesday that it will halt the release of its cryptocurrency project Libra until it is approved by the U.S. government. Facebook CEO Mark Zuckerberg is set to testify before the House Financial Services Committee Wednesday about the project, and released his statement prior to the testimony. “Ahead of tomorrow’s…

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update:-facebook-cryptocurrency-project-faces-more-turmoil-ahead-of-launch

Several more “founding members” of Facebook’s cryptocurrency project Libra have pulled out of the program ahead of the first board meeting for the currency’s governing body Monday. “Stripe and eBay have followed PayPal in backing out of Facebook’s cryptocurrency, Libra,” Engadget said. “They confirmed to the Financial Times that they would pull their support, while Mastercard and Visa have also dropped out.” Neither…

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libra-is-dead:-ebay,-stripe,-visa-and-mastercard-all-abandon-facebook’s-cryptocurrency

One week after we reported that Facebook’s Libra stablecoin project, Libra, was imploding, as online payment giant PayPal quite the Libra network, we can now set the time of death to today – that’s when first eBay, then Stripe and finally Mastercard all abandoned Mark Zuckerberg’s pet “cryptocurrency” (which was anything but) project. As the…

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paypal-cuts-ties-with-facebook’s-cryptocurrency-project

PayPal, a major tech company and payment processing firm, has decided not to participate in Facebook’s creation of an in-house built cryptocurrency called Libra. “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we…

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why-facebook’s-libra-cryptocurrency-will-be-bad-for-everyone

Last month, Facebook announced the launch of a new cryptocurrency, which it plans to call Libra. Digital money is a growing trend, and Facebook is always looking for ways to expand into new markets. Until now, governments have not stood in its way, so it may have been a shock to the social media company’s…

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