Libra (LBA) & Facebook

Facebook will get yet another chance to try to win over the support of US lawmakers with regards to its Libra cryptocurrency project and other matters next month. According to Bloomberg, the social media giant’s Chief Operating Officer Sheryl Sandberg will testify before the U.S. House of Representatives possibly in late October. Sandberg’s visit to Capitol Hill will be coming weeks after the co-creator of Libra David Marcus met with lawmakers to shed more light on tech company’s...

If you think bitcoin is having a hard time this week, talk to Mark Zuckerberg about Libra and you’ll probably think bitcoin isn’t doing so bad. Libra Encounters More DelaysAt press time, bitcoin is trading for just under $7,900, meaning it’s crashed even harder over the past 24 hours. Marcus Swanepoel, the chief trader of bitcoin and its crypto cousins at Luno, says that this behavior is pretty much affecting every major cryptocurrency on the market, and that the trends are not specifically...

Marcus Treacher, a senior executive at blockchain cross-border remittance giant Ripple is seemingly kicking-off a modern “cola war” with their emerging rival Libra, Facebook’s controversial cryptocurrency. Treacher, the head of Ripple’s strategic accounts globally, criticized the so-called Facebook cryptocurrency for being “a walled garden.” The executive stressed that only a handful of big players, including Facebook, Visa, MasterCard, Uber, and PayPal, practice excessive control over...

Libra Association Managing Director Bertrand Perez said on Friday that the Facebook’s cryptocurrency Libra, that should be launched by a Geneva-based association next year, is not intended to replace existing currencies. He said:“We are not in the area of implementing any monetary policy with the (Libra) Reserve.”This confirms what Libra’s CEO David Marcus was speaking back in July at the hearings when he kept stressing that Libra is not an investment and it doesn’t want to conquer the...

A rather inspiring presentation from the head of Facebook’s Libra David Marcus seems to have inspired someone else as well and neither more nor less – Coinbase CEO himself. Yes, you’ve heard it right, Brian Armstrong came out as a real supporter of this, still developing stablecoin.The thing is that Libra is often represented as a project that carries labels such as “alienating”, “controversial” or even “poisonous”. Even though it still hasn’t come out at the light of the day, it has already...

Following a rousing presentation from David Marcus - the head of Facebook's Libra - Coinbase CEO Brian Armstrong has come out in support of the developing cryptocurrency.Libra is often depicted as a pretty divisive and maligned project. It's not shocking to think that a cryptocurrency with plans of financial domination - emanating from a company with a checkered past of privacy problems - has regulators and citizens up in arms. Nonetheless, Libra now has at least one supporter, Coinbase's CEO...

Everybody is aware of the scandals that undermined trust in the social networking giant Facebook. According to Mark Zuckerberg, the company didn’t pay proper attention to protecting privacy, that’s why the company had to deal with the consequences of data leak and the spread of fake news. To fix this, Facebook’s CEO is all set to make everything, including Libra, right.Speaking in an interview with Asia-based news outlet Nikkei, Mark Zuckerberg said:“In the last few years, there are a lot of...

As we reported on Wednesday, proceedings for an official impeachment enquiry against U.S. President Donald Trump, was announced by Nancy Pelosi, the Speaker of the House of Representatives, shocking the entire country and the world at large. When this news spread, a lot of people considered what possible effects the situation could have both for the U.S. Stock Market as well as the prolonged trade tensions with China. Now, it would seem that fears have been allayed a bit, as the stock market...

Foto: Facebook Zürich Seit 2016 unterhält Facebook eine Niederlassung in Zürich. Die derzeit 80 Mitarbeiter dort arbeiten vor allem in den Bereichen „Augmented & Virtual Reality“. Nun will Facebook in Zürich deutlich expandieren. Die Mitarbeiterzahl soll sich mehr als verdoppeln und man will dort nun vermehrt auch im Vertrieb tätig sein. Das teilte Tino Krause, der Chef...

Speaking to the German federal parliament Bundestag on Wednesday, Benoit Coeure, a member of the Executive Board of the European Central Bank (ECB) said that Facebook’s currency Libra could possibly fix some of the troubling issues that exist at the international payments market. However, he warned that, on the other hand, it might create other problems that will need regulators to act more liberal and creative. He said:“Libra has undoubtedly been a wakeup call for central banks and...