Facebook has revealed the exact composition of reserves for Libra, its cryptocurrency, in response to a German politician’s query. Libra will be backed by a basket of currencies and government bonds to ensure low volatility in its price, thereby making it possible to use the coin for daily transactions. German publication Der Spiegel reports that Facebook revealed composition of the cryptocurrency in response to a … Continue reading Facebook Presses on With Libra Plans: Reveals Libra Reserves Composition and Acquires Chatbot

Unfazed by criticism about its intentions, Facebook’s Libra project plans to launch by the end of next year. Bertrand Perez, managing director of the Libra Association, told French magazine Les Echos that Libra would launch between the end of the first half next year and its end. He also offered other details about composition of the basket of currencies that comprise Libra. Specifically, he said … Continue reading Libra Will Launch By End of Next Year, Says Managing Director of Libra Association

This is probably not the most auspicious of debuts for Libra, possibly the most high-profile project involving cryptocurrency and blockchain, on Facebook’s SEC filings. In its latest  quarterly report, the social media behemoth admitted that the Libra project may never launch. The main reason cited by the company are various regulatory challenges, in the US and other countries around the world, faced by it. The … Continue reading Facebook Says Libra May Never Launch Due To Regulatory Scrutiny