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The knives are really coming out to kill Facebook’s over-hyped Libra crypto project. After being bashed by President Donald Trump and the U.S. Congress, four liberal activist groups penned an open letter urging all 27 Libra partners to dump the Facebook venture. Quartet: Mark Zuckerberg Cannot Be Trusted The foursome cited fears over the social […]
The post Liberal Activists Pressure 27 Libra Partners to Dump Facebook’s Project appeared first on CCN Markets
G7 finance chiefs met this week and Facebook’s Libra cryptocurrency was high on their agenda. They agreed on several crypto initiatives and fast regulatory responses to projects such as Libra, calling for them to meet the highest standards of financial regulation.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
Investor and Shark Tank shark Kevin ‘Mr. Wonderful’ O’Leary has dismissed concerns raised against Facebook’s cryptocurrency Libra. Speaking on CNBC, the avowed Bitcoin skeptic stated that Libra has the capacity to become accepted and consequently useful with effective regulation. Stemming from this O’Leary is bullish on the social media giant’s future prospects. On the other […]
The post Shark Tank Celebrity Claims Facebook’s Libra Will Pummel Bitcoin to ‘Zero’ appeared first on CCN Markets
When it comes to Facebook’s Libra digital currency not even one of the most crypto-friendly countries in the world is turning a blind eye to social media giant’s cryptocurrency plans and hoping all will work out well magically. Rather, Japan is taking proactive steps to understand Libra’s potential ramifications even before the cryptocurrency has gotten […]
The post Japan Studies Libra as Global Criticism on Facebook’s Cryptocurrency Intensifies appeared first on CCN Markets
The makers of Kik’s Kin cryptocurrency, which itself is no stranger to regulatory issues with the US government, do not feel one shred of sympathy for Facebook as Congress rakes Libra over the coals on Capitol Hill. The chat app, with its more than 300 million registered users, made waves during the 2017 gold rush […]
The post Libra Rival Kin Savages Facebook’s Cryptocurrency appeared first on CCN Markets
Former CFTC Chairman Gary Gensler believes Facebook’s Libra looks – and should be regulated like – a security.
CoinDesk
On CNBC’s Squawk Box, Philip Hammond, the Chancellor of the Exchequer and a senior official within the government of the U.K., said that Libra, a crypto asset developed by a consortium of companies including Facebook, poses a risk to the global financial system. Hammond’s caution towards Libra comes after U.S. President Donald Trump and France’s […]
The post Facebook’s Libra Triggers US & UK Alarm Bells; Will Bitcoin Take a Beating? appeared first on CCN Markets
Facebook’s digital currency plans have caused concern among bureaucrats worldwide and members of the U.S. government seem fearful of a giant tech establishing itself as a financial institution. Prior to the U.S. congressional hearings and the upcoming G7 finance meeting, a U.S. discussion draft bill, the Keep Big Tech Out of Finance Act, hopes to stop large tech corporations from “maintaining, or operating a digital asset.”
Also read: How 10 Countries Respond to Facebook’s Libra Cryptocurrency
Blockstack is having a big day today, launching the world’s maiden regulated token sale. So far, the deal appears to be a resounding success, with CoinList “experiencing heavy load” and “adding more server capacity.” Muneeb Ali, Blockstack CEO and Co-Founder, doesn’t seem to mind sharing the spotlight with another hot crypto-related project – Facebook’s Libra. While […]
The post Blockstack CEO 'Cautiously Optimistic' About Facebook's Libra appeared first on CCN Markets
A growing number of governments have responded to Facebook’s cryptocurrency plans including China, France, India, Japan, South Korea, Russia, Singapore, Thailand, the U.K., and the U.S. Several intergovernmental organizations have also weighed in such as the European Central Bank and the Bank of International Settlements.
Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments
The deputy governor of Japan’s central bank predicts a large user base for Libra and warns Facebook to comply with money laundering and risk management regulations. Libra’s ‘enormous’ user base According to Bank of Japan Deputy Governor Masayoshi Amamiya, Libra could have a high user base in the future. Facebook has to act responsibly, […]
The post BOJ’s Amamiya: Facebook’s Libra User Base Could Be ‘Enormous’ appeared first on CCN Markets
Most “Gen Z” Americans have no plans to get into crypto. Hard to believe as it may seem, this was the result of a survey of 1,884 young Americans published by Business Insider. The firm responsible for conducting the investigation was Cint, a company specializing in the analysis and exchange of data. The study wanted […]
The post Gen Z Hates Crypto. Can Facebook’s Libra Change That? appeared first on CCN Markets
A few hours ago, the internet’s top social networks suffered a crash that kept users from sharing photos, videos, and similar files. Almost simultaneously, Facebook, Whatsapp, and Instagram suffered the same malfunction causing, as expected, a big nuisance among netizens, who rushed to position the tags #Instagramdown, #facebookdown, and #whatsappdown on Twitter. This is Twitter […]
The post Facebook’s Social Media Platforms Crash. Will Libra Be Different? appeared first on CCN Markets
Bitcoin archnemesis Nouriel Roubini is a “no-coiner hater” who’s upset that he didn’t buy crypto sooner. That’s the opinion of Arthur Hayes, the CEO of the Bitcoin Mercantile Exchange (BitMEX), the world’s largest bitcoin derivatives trading platform. Arthur Hayes: Roubini Is a Toxic ‘No-Coiner’ Hayes told Bloomberg that Roubini is a disgruntled killjoy who repeats […]
The post BitMEX CEO Rips Bitcoin ‘Hater’ Roubini, Praises Facebook’s Libra appeared first on CCN Markets
Would-be coders and eager trolls are digging into the early code for Facebook’s Libra cryptocurrency.
CoinDesk
Speaking with Finance Magnates, Binance strategy officer Gin Chao said the world’s largest cryptocurrency exchange “would probably want to list” Facebook’s Libra coin on its marketplace. Chao said that Binance has been in talks with Facebook about the potential listing. Though he said discussion is, “very much at a preliminary stage.” The revelation is some […]
The post Binance CSO Confirms ‘Preliminary’ Talks to List Facebook’s Crypto Libra appeared first on CCN Markets
Federal Reserve Chairman Jerome Powell said his agency – as well as the rest of the federal government – will be looking carefully at Facebook’s Libra cryptocurrency. The Unspoken Advantage of Large Companies Entering Crypto He promised that Facebook would be held to very “high” standards, implying that the social media giant should be able […]
The post Fed Chairman Swears ‘Very High’ Scrutiny Against Facebook’s Crypto Libra appeared first on CCN Markets
The best thing about Facebook’s proposed digital currency isn’t its BTF consensus algorithm, account-based data model or single Merkle tree structure. No, the greatest thing about Libra has to be the triggered reactions from politicians and bankers who can sense the rug being pulled from under their feet, threatening their hegemony and upending their world view. Here are eight memorable quotes from incensed officials.
Also read: Market Rebound Boosts Adoption of Cryptocurrencies for Payments
“Big tech in finance: opportunities and risks,” a report by the Bank for International Settlements (BIS):
A Swiss central banker has suggested that Facebook’s cryptocurrency project, Libra, is not ruffling any feathers with the regulator, Reuters reports.
CoinDesk
As the wave of interest in Facebook’s stablecoin Libra continues around the world, it appears that Mark Zuckerberg’s foray into digital currencies has a new and powerful ally. Fitch, one of the big three credit rating agencies, gave it a thumbs up in a recent report. Fitch in Love with Facebook’s Fiat-Backed Libra What is it precisely that Fitch has fallen in love with? Well, in praising the centralized token, Fitch focuses on Libra’s fiat-backed status: “A potential advantage of Libra versus other cryptocurrencies is its full backing by a reserve basket of fiat currency assets managed in a reserve
