Tagged: david marcus

Libra has the Potential to Transition in No Time from “Too Small to Care” to “Too Big to Fail”

Last week, both the US House and US Senate held hearings on Facebook’s proposed Libra cryptocurrency which is envisioned as a global payments platform. David Marcus, Head of Libra/Calibra testified at both hearings. As Crowdfund Insider has already reported, both the House Financial Services Committee… Read More

Facebook Finds Few Friends on House Financial Services Committee as Libra Head David Marcus Endures Skepticism for its Crypto Plan

This past week much of the Fintech news was dominated by hearings in Congress addressing Facebook’s plan to launch a global, blockchain-based, payments platform using a stablecoin, of sorts, as a foundation. This global currency, which may be able to challenge sovereign currency, is said… Read More

Senate Hearing: “I wish we could trust Facebook, it is pretty clear there is nobody on this committee that does.” David Marcus Hit with Skepticism Regarding Facebook’s Libra Cryptocurrency

The Senate Banking Committee held a hearing today where David Marcus, Head of Facebook’s cryptocurrency project Libra, took the stand to explain and defend the company’s intent for their payments and blockchain ecosystem. While some US Senators are keen on supporting Fintech innovation in the… Read More

Here is David Marcus’s Prepared Testimony Defending Facebook & Libra for Senate Banking Committee Hearing

Embedded below is David Marcus’s prepared testimony for the Senate Banking Committee hearing on Facebook’s Libra. “Facebook will not offer the Libra digital currency until we have fully addressed regulatory concerns and received appropriate approvals,” assured Marcus to the Senators in attendance. His testimony today… Read More

Inside the Beltway: July is a Busy Month for Fintech in DC

Tomorrow, the Federal Reserve Chair Jerome Powell will spend a good amount of time in front of the House Financial Services Committee. The following day, Powell will experience a similar round of questions at the Senate Banking Committee. Powell is certain to endure a standard… Read More

Libra CEO Tells House Financial Services Committee that Facebook is “Taking the Time to do (Libra Coin) Right”

The CEO of Facebook’s cryptocurrency project, David Marcus, has written to assure the powerful US House Financial Services Committee that Facebook is proceeding with caution as it works to launch Libra. Five members of the Committee, including its Chair, Maxine Waters, sent a letter to… Read More

Facebook’s Libra Coin CEO Responds to “Questions and Misunderstandings” Arising Since Project Announced

David Marcus, the CEO presiding over Facebook’s recently announced Libra cryptocurrency project, has issued a blog post on Facebook to address controversy roiling since the project was announced two weeks ago. Regulators around the world have been issuing stern warnings about how Facebook’s Libra payment… Read More

The People’s Node: An Open Letter to Libra

The world stands at a crucial juncture when new DNA will be created that will form and influence our civilizations for generations to come, determining what our future looks like. The world is now in a position to build global public infrastructure. Who owns this… Read More

Details Emerge on Possible Features of Facebook’s Anticipated Cryptocurrency

Facebook (NASDAQ:FB) is stuffing its ranks with former PayPal staff, and an announcement regarding the company’s much-anticipated stab at creating a cryptocurrency may come as early as next quarter, though the company is still far from a viable product, unnamed sources tell Bloomberg. Facebook has… Read More

Facebook Expanding Blockchain Team Despite Claims It’s a Bunk Tech for Business

Facebook is aggressively recruiting to fill out its “secretive” blockchain research group and hopefully “disrupt” the payments sector, Cheddar reports, but sources say the company is having a hard time attracting key talent, “amid its many public scandals.” Recruiting problems may be a blessing in disguise… Read More

Facebook Creates Dedicated Blockchain Team

The man who decoupled messaging from the main Facebook site, made it a discreet app customers had to download to phones (which mined even call data from customer phones), is leaving Facebook’s Messenger department to lead a blockchain working group within the company. David Marcus,… Read More

Facebook Messenger’s P2P Payments Feature Goes Live in NYC: Messenger App Already Available in Seattle, Portland and Austin

Now in the Big Apple, Facebook Messenger’s payments service has been tweaked to make it easier for friends to send money within conversations. Although launched in March, the P2P payments feature has so far only been available to Messenger app users in a few cities, including Seattle,… Read More

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