Facebook and Libra Association, the governing body for its proposed blockchain, could provide a lesson in deal making to international diplomats and governments. Ten months after raising the specter of an independent currency and blockchain that could have become an alternative to the existing financial ecosystem, the social media giant has seemingly backed down from its earlier promise. Seemingly, because the association has not entirely … Continue reading Understanding the Latest Iteration of Facebook’s Libra Project
2019 was supposed to be the year that Bitcoin hit $20,000, a price it last touched at the end of 2017. It was also the year that institutional floodgates opened for the cryptocurrency ecosystem, making it more liquid and resilient. Neither of those things happened. Instead, cryptocurrency prices continued to flounder between excessive optimism and the plunging lows of depression as liquidity continued to be … Continue reading More Financial Advisors Interested in Bitcoin, Says Bitwise. Really, why?
One of the most interesting moments during the two days of hearing to understand and evaluate Facebook’s Libra project occurred when Congresswoman Katharine Porter (D-CA) asked panelists which regulators were appropriate for the cryptocurrency. “I am not sure if this (Libra) is a problem for my investor protection subcommittee or my consumer protection subcommittee,” she said, referencing the confusion about whether Libra is an ETF … Continue reading What Did The Facebook Libra Hearings Accomplish?
In its battle against the SEC, messaging app Kik likes to paint itself as an aggrieved victim of the agency’s regulations. The app has conducted a public battle with the agency since receiving a Well’s notice last year and even started a website to raise funds to file a lawsuit. Defendcrypto.org claims the SEC is charging an “innovation tax” and shaping the future of crypto … Continue reading Kik’s Mistaken Battle With the SEC