Libra made a lot of news over the last year. Surely, an arguably promising project developed and promoted by none other than Facebook was guaranteed to draw attention. Apparently, it was also a serious threat to the existing monetary system, so the project faced fierce opposition from regulators around the world.
In retrospect, Libra was the hype of 2019. Facebook, global payment processing, cryptocurrency all mushed together in a reptilian power fantasy. “What could have gone wrong?” we ask ourselves as we watch Vodaphone coyly quit the Libra Association, becoming the eighth company to pull out of the project.
Facebook is seeking support from venture capital firms to invest in its crypto-related project, targeting to raise as much as $1 billion. The news was revealed by NY Times reporter Nathaniel Popper in a series of twits on Monday, April 8.
Facebook blockchain head David Marcus is quitting the board of directors at cryptocurrency exchange Coinbase with his departure most likely being a signal that the social networking giant’s secretive blockchain efforts are progressing.
Facebook is reversing its ban on cryptocurrency advertisements and will now allow some preapproved advertisers to promote crypto businesses and services.
Google’s decision to ban all Bitcoin and cryptocurrency adverts on its platforms is ill-thought-out and potentially even unethical, according to industry experts, The Independent reported on Sunday, June 3.
According to recent researches by Facebook and MasterCard, majority of young people don’t trust traditional banks, favoring new fintech services instead.