Tagged: facebook

October 18, 2019 @ 2:54 pm By Omar Faridi  |  

Nearly three-quarters, or 75%, of German consumers said they would not use Facebook’s controversial stablecoin Libra, according to a recent survey Out of 2000 Germans, aged 16 and over, that were questioned, only 27% said they might consider using Libra to conduct local or international… Read More

October 18, 2019 @ 10:29 am By Cali Haan  |  

Coindesk is reporting that Terry Gou, who founded electronics manufacturing giant Foxconn in 1976, told attendees at Taiwan’s technology association AGM in Taipei October 3rd that he thinks the country should welcome Facebook’s Libra with open arms. “I know (Facebook CEO Mark) Zuckerberg pretty well, and… Read More

October 14, 2019 @ 11:24 pm By JD Alois  |  

Earlier today, the Libra Assocation issued a release announcing that 21 members have signed the Libra Association Charter and formalized the Libra Association council, elected the Board of Directors, and appointed members of the Libra Association executive team. The news of Libra’s progress arrives while multiple… Read More

October 14, 2019 @ 10:59 pm By Cali Haan  |  

Letters from US lawmakers to members of the Libra Association asking them to, “carefully consider how your companies will manage risks before proceeding,” as backers of a Facebook cryptocurrency called “Libra” may have spurned last week’s corporate exodus from the project. On Friday, October 11th, Visa,… Read More

October 14, 2019 @ 10:26 pm By Cali Haan  |  

US Treasury Secretary Steve Mnuchin told Andrew Ross Sorkin at CNBC’s Squawk Box October 14th that initial backers of Facebook’s proposed in-app cryptocurrency project, Libra, probably realized the company was, “not ready….(and) not up to par” when they announced they were leaving the project in… Read More

October 14, 2019 @ 9:53 am By JD Alois  |  

The Group of 7 (G7), representing the 7 largest developed economies in the world, is preparing a report slamming Facebook’s Libra. The proposed stablecoin that aspires to be a non-sovereign global currency has been hammered since it was revealed earlier this year. Government officials from… Read More

October 14, 2019 @ 5:00 am By JD Alois  |  

Facebook’s attempt to launch a global non-sovereign currency was doomed from the beginning for many reasons. While Facebook will continue to put a smiley face on Libra, in its current form, it is just not happening. And this is not just about Facebook’s penchant to… Read More

October 13, 2019 @ 12:46 pm By Omar Faridi  |  

Facebook’s subsidiary Calibra is being sued for trademark infringement by Current, the developer of a mobile banking app. The complaint was submitted on October 10 in the US District Court for the Southern District of New York. It alleges that Calibra’s logo is quite similar… Read More

October 11, 2019 @ 4:21 pm By Cali Haan  |  

Following in the footsteps of PayPal, which walked away from the Libra Association last Friday, eBay and Stripe have now departed the alliance. In an update, Law360 has confirmed that Mastercard and Visa have exited the Libra Association as well. “We highly respect the vision… Read More

October 9, 2019 @ 6:17 pm By Cali Haan  |  

Simon Morris, Head of Product at Facebook’s Libra coin project, departed his position in August. According to his LinkedIn profile, Mr Morris was appointed as Head of Product at Libra in April of this year. Libra (Calibra) lead David Marcus’ LinkedIn profile says he began… Read More

October 9, 2019 @ 3:09 pm By JD Alois  |  

Mark Zuckerberg, CEO of Facebook, is scheduled to testify in front of the House Financial Services Committee later this month in what is expected to be a thorough grilling regarding Facebook’s stablecoin Libra and Facebook’s operations in general. Congresswoman Maxine Waters (D-CA), Chairwoman of the… Read More

October 3, 2019 @ 9:42 pm By JD Alois  |  

Tim Cook, CEO of Apple, told French business newspaper Les Echos that Apple (NASDAQ:AAPL) has no interest in creating a cryptocurrency similar to Facebook. Cook blessed the front page of Les Echos October 4th print version with the headline “Apple est le premier contribuable mondial.”… Read More

October 3, 2019 @ 7:39 am By Omar Faridi  |  

The developers of Facebook’s Libra stablecoin have unveiled a new roadmap that outlines the main steps leading to the project’s mainnet launch. The announcement, published on October 2, reveals several important updates for the crypto project’s developers and for those who are running the Libra… Read More

October 3, 2019 @ 2:26 am By Cali Haan  |  

Officials at Visa, Mastercard, PayPal, and Stripe are reportedly hesitating now about officially signing on as members of the Libra Association, a governance consortium assembled by Facebook to advise on its proposed private, in-app currency system, Libra. The 28 current members of the Libra Association are reportedly being asked… Read More

October 2, 2019 @ 9:08 pm By Cali Haan  |  

Banking advisors to the US Federal Reserve have warned that Facebook’s proposed private currency network, Libra, will disrupt conventional banking and could function as a “shadow banking” system if not properly regulated. They also warned that, “In extremis, alternative currencies could usurp the prudential authority… Read More

October 2, 2019 @ 10:27 am By JD Alois  |  

It has been widely reported that the founding members of the Libra Association, Facebook’s stablecoin initiative, have scheduled a meeting to take place in Geneva, Switzerland on October 14th. As the crypto advocates gather, one has to wonder what is on the agenda. First reported… Read More

September 27, 2019 @ 11:16 am By Omar Faridi  |  

Libra Association managing director and COO Bertrand Perez has said that the Facebook-backed stablecoin project could be a boon to the United Nations. Perez, whose comments came during a recent blockchain event held at the UN headquarters in Geneva (where the non-profit Libra Association is… Read More

September 26, 2019 @ 6:04 pm By Omar Faridi  |  

Facebook’s stablecoin project Libra might solve some of the problems in the global payments industry, however, it could also create other types of issues that would have to be addressed by regulators, according to Benoit Coeure, a member of the executive board at the European… Read More

September 26, 2019 @ 2:57 pm By Omar Faridi  |  

Facebook CEO Mark Zuckerberg has not committed to Libra’s planned launch next year. In an interview with Nikkei Asian Review on September 26, Zuckerberg was asked about the expected launch date of Facebook’s controversial Libra cryptocurrency. “Obviously we want to move forward at some point… Read More

September 24, 2019 @ 9:58 pm By JD Alois  |  

While the political chatter in the US is clearly anti-Libra and both France and Germany have expressed their disfavor for Facebook’s stablecoin, Heath Behncke, a founder of the Australian consortium’s bid for Libra Association membership, claims there is strengthening support for Libra. Behncke has recently… Read More