Four Problems With Facebook’s Libra Crypto

Now that the dust has settled on Facebook’s Libra announcement, it is time to take stock. The Menlo Park-based company’s move into blockchain has received an enthusiastic welcome from the crypto community. , which has lurched from one scandal to another in recent times. That is understandable. Much to the chagrin of its proponents, the crypto ecosystem and blockchain have become a subject of derision … Continue reading Four Problems With Facebook’s Libra Crypto

Enthusiasm, Snarky Criticism, Wariness: Reaction to Facebook’s Libra

This morning, Facebook released details regarding Libra – its proposed cryptocurrency. The details and Facebook’s move have predictably generated much debate and discussion. While cryptocurrency enthusiasts and investors have applauded the move, regulators have alternated between adopting a wait-and-see approach and criticism of the social media company’s move. Expectations have been sky high for Facebook’s entry into cryptocurrencies. The social media behemoth is arguably the … Continue reading Enthusiasm, Snarky Criticism, Wariness: Reaction to Facebook’s Libra

What You Should Know About Facebook’s Cryptocurrency Libra

Social media giant Facebook released details about its crypto venture this morning. The cryptocurrency, which will be available during the first half of 2020, is the first such effort by a mainstream company and is expected to lead to greater adoption and awareness about cryptocurrencies. Here is a brief FAQ on Libra: What is Libra? Libra is a global cryptocurrency that will be available for … Continue reading What You Should Know About Facebook’s Cryptocurrency Libra

Facebook Releases Libra Details

Facebook released details about its cryptocurrency this morning. The social media giant has been teasing details about the venture for the last six months, with periodic leaks in the mainstream and trade press. The move is widely anticipated to herald a reinvention of Facebook, enabling it to pursue new lines of business. Two Cryptocurrencies Facebook’s plan is to have to two cryptocurrencies. The first one … Continue reading Facebook Releases Libra Details

Decks Cleared For Facebook’s Crypto Debut Tomorrow

Facebook’s big crypto moment is tomorrow. The social media giant, which has been mired in controversy and scandal for the last couple of years, is expected to release details related to Project Libra – its cryptocurrency initiative. Reports and leaks have already generated considerable excitement within the cryptocurrency community. But the ramifications of Facebook’s foray into cryptocurrency go beyond the crypto ecosystem. They could potentially … Continue reading Decks Cleared For Facebook’s Crypto Debut Tomorrow

Bitcoin Price Breaks Past $9,000 Mark In Anticipation of Facebook Announcement

In its attempt to regain past glory, Bitcoin price breached another major milestone and crossed the $9,000 mark over the weekend. The original cryptocurrency first struck past the mark yesterday evening. It retraced its steps for a brief period of time two hours later before striking out again past $9,000. As of this writing, Bitcoin is changing hands at $9,285.84 per Coindesk. Yesterday’s increase means … Continue reading Bitcoin Price Breaks Past $9,000 Mark In Anticipation of Facebook Announcement

Visa, MasterCard, and PayPal Sign Onto Facebook’s Crypto Project: WSJ

Facebook’s cryptocurrency project has garnered more than a dozen partners who will each contribute $10 million for the creation of a new coin on its social network, a WSJ report states. Included among the partners are financial services behemoths like MasterCard Holdings, Visa Inc., and PayPal Inc. Rideshare company Uber technologies is also named in the report. Stripe.com, a payment processing company on the Internet, … Continue reading Visa, MasterCard, and PayPal Sign Onto Facebook’s Crypto Project: WSJ

Facebook Will Release Crypto Whitepaper On June 18th: Report

More details have emerged about Facebook’s crypto project. The company is planning to release a whitepaper explaining the basics of its cryptocurrency on June 18th, according to a Techcrunch report. The publication also received a press embargo request for the same date.  Facebook also told a German magazine that its stablecoin, a cryptocurrency that maintains parity with a basket of goods, will be backed by … Continue reading Facebook Will Release Crypto Whitepaper On June 18th: Report

Facebook “Courts” Financial Institutions and Tech Companies for its Crypto Foundation

After conversations with regulators, Facebook is setting up an independent foundation for the governance of Globalcoin – its cryptocurrency, according to a report in the Information. The online publication reports that the Menlo Park-based company has “courted dozens of financial institutions and tech companies” for its foundation. The plan is to raise capital from these institutions and have senior officials as members of the foundation’s … Continue reading Facebook “Courts” Financial Institutions and Tech Companies for its Crypto Foundation

Facebook Talks to CFTC About Globalcoin

Facebook is scoping out the regulatory ramifications for its cryptocurrency. CFTC chairman Christopher Giancarlo has told the Financial Times that the agency has had “very early stage conversations” with Facebook about Globalcoin, its stablecoin – a cryptocurrency that retains peg with a basket of goods. “We’re very interested in understanding it better,” he said, adding that Facebook had not yet applied for a regulatory permit. … Continue reading Facebook Talks to CFTC About Globalcoin

Facebook To Launch its Crypto Next Year: BBC

Facebook’s cryptocurrency will make its debut next year, according to a BBC report. Testing on the coin, which is referred to as GlobalCoin internally, will begin at the end of this year. The Menlo Park-based company has already begun talks with regulators around the world about the coin. The BBC report mentions Facebook CEO Mark Zuckerberg’s meeting with Bank of England Governor Mark Carney last … Continue reading Facebook To Launch its Crypto Next Year: BBC