Tagged: facebook

June 20, 2019 @ 11:06 am By JD Alois  |  

The Senate Committee on Banking, Housing, and Urban Affairs has booked a hearing on Facebook and its recently announced cryptocurrency Libra. The hearing was largely anticipated as multiple politicians issued public statements on the day Facebook revealed their vision for the future of finance using… Read More

June 20, 2019 @ 3:42 am By JD Alois  |  

It is inevitable that Facebook’s crypto Libra will come under intense scrutiny and a good amount of criticism. The stablecoin, which many people think is really a security token in disguise, has already taken heat from prominent US politicians. Expect public hearings in the House… Read More

June 19, 2019 @ 4:34 pm By JD Alois  |  

Following today’s FOMC meeting where the US Federal Reserve announced no change in interest rates at this time, Fed Chair Jerome Powell was asked a question about crypto. In the Q&A session that typically accompanies the FOMC statement, one reporter asked Powell if he was… Read More

June 18, 2019 @ 10:47 pm By JD Alois  |  

Representative Maxine Waters, Chairwoman of the powerful House Financial Services Committee issued the following statement in the wake of Facebook’s cryptocurrency announcement today. Facebook’s “Libra” is a stablecoin created from a basket of assets but the ecosystem also has the ability to create smart contracts… Read More

June 18, 2019 @ 10:13 pm By JD Alois  |  

As reported earlier today, Facebook officially launched its long-anticipated stablecoin named Libra. Facebook revealed details of their own cryptocurrency stating it was based on a “collection of currencies and other assets.” Facebook also said Libra will be able to create Smart Contracts similar to Ethereum… Read More

June 18, 2019 @ 5:45 pm By JD Alois  |  

Several US politicians have issued statements critical of Facebook’s new cryptocurrency – Libra. Officially announced today, Libra is first a payment platform but Facebook has much bigger ambitions with the crypto. Facebook views it as a step in the direction of redefining financial services. US… Read More

June 18, 2019 @ 9:13 am By JD Alois  |  

Facebook (NASDAQ:FB) launched its long-anticipated cryptocurrency today with an onslaught of documents, commentary and punditry feedback. Two new websites were revealed each affiliated with a different aspect of their new crypto-ecosystem. First there is the Libra stablecoin, a global currency “backed by a collection of… Read More

June 14, 2019 @ 8:46 am By JD Alois  |  

Facebook’s long-anticipated cryptocurrency, labeled “Libra,” will finally make an appearance next week according to a report in WSJ.com. Libra is expected to be a stablecoin which will be a bespoke currency that is pegged to a bundle of fiat currencies. Stablecoins are typically pegged to… Read More

June 8, 2019 @ 8:38 am By Cali Haan  |  

Igor Sechin, head of Rosneft, Russia’s state oil company and reported second-in-command to Russian President Vladimir Putin, told colleagues in St Petersburg this week that the creation of a “Facebook  Global Coin” cryptocurrency could signal American tech companies’ ominous intention to start moving into oil… Read More

June 7, 2019 @ 3:41 pm By Cali Haan  |  

Lawyers for Dutch billionaire and media tycoon John De Mol filed a lawsuit against Facebook this week claiming the platform allowed his image to be used without permission to promote cryptocurrencies, Reuters reports. De Mol’s lawyers also claimed that, even after Facebook was informed of the… Read More

June 7, 2019 @ 7:48 am By Samantha Hurst  |  

After a couple of months of speculation, social media giant Facebook is reportedly planning to launch its very own cryptocurrency on June 18th. According to TechCrunch, the crypto, named Libra, will be making its debut with a white paper that explains the basics of the… Read More

June 4, 2019 @ 10:58 am By Samantha Hurst  |  

Following its registry in Switzerland, Facebook’s crypto payments solution, Libra Networks, is reportedly seeking $1 billion in investments. As previously reported, Libra was notably registered on May 2nd and aims to provide financial and technology services, as well as develop related hardware and software. The… Read More

June 3, 2019 @ 3:02 pm By Samantha Hurst  |  

Continuing momentum for its cryptocurrency initiative, social media giant Facebook is reportedly in talks with U.S. Commodity Futures Trading Commission (CFTC) about the upcoming digital coin launch. According to various reports, Christopher Giancarlo, the Head of the CFTC, revealed that the regulator is in “very… Read More

June 2, 2019 @ 12:01 pm By Cali Haan  |  

An analyst writing in the latest issue of the Diar Newsletter has argued that Facebook is facing considerable “demographic challenges” to the success of its anticipated venture into cryptocurrencies. The venture, tentatively dubbed “GlobalCoin,” is now being developed at Facebook by a team of blockchain,… Read More

May 24, 2019 @ 2:47 pm By JD Alois  |  

A new report reaffirms that leading social platform Facebook is planning its very own cryptocurrency. The BBC has entered the mix by providing new details on the digital coin dubbed GlobalCoin for its international approach. The “Stablecoin” is expected to launch in Q1 of 2020,… Read More

May 17, 2019 @ 11:00 pm By Samantha Hurst  |  

Social media giant Facebook has reportedly set up a new fintech company that focuses on blockchain in Switzerland. According to Business Insider, the new fintech, named Libra Networks, with Facebook Global Holdings was named a stakeholder, was notably registered on May 2nd and aims to… Read More

May 17, 2019 @ 3:08 am By Cali Haan  |  

Facebook has picked up two former employees from Coinbase, the San Francisco-based crypto trading platform, Coindesk reports. In all likelihood, the two may have been hired to contribute to Facebook’s top-secret go at creating a price-stabilized cryptocurrency for use in a Facebook-linked payments system the… Read More

May 12, 2019 @ 3:17 pm By Cali Haan  |  

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

May 11, 2019 @ 4:20 pm By Cali Haan  |  

US Senators Mike Crapo and Sherrod Brown have sent an open letter to Facebook CEO Mark Zuckerberg asking him to provide information on the company’s much-anticipated and highly-secretive “Libra” cryptocurrency project. So far, little is known publicly about the project, although reporting at Bloomberg indicates… Read More

May 3, 2019 @ 3:03 pm By JD Alois  |  

Crowdfund Insider reported earlier today that more rumblings on Facebook’s entrant into the cryptocurrency sector have emerged. In a WSJ report, it was disclosed that Facebook is expected to issue its own crypto dubbed FBCoin. The digital currency, most likely a stablecoin pegged to fiat,… Read More