#Libra News

Libra looking over a tower of bank notes

Facebook and Libra Strives Onwards Despite Odds Stacked Against Them

October 30, 2019 by Ashwath Balakrishnan at Altcoins

David Marcus, head of Facebook's Calibra wallet spoke at the Money 20/20 conference about what Libra is trying to forge and their commitment to a 'noble' vision. The narrative that has recently been doing the rounds is that of Libra establishing a monopoly over the financial system. According to Marcus,...

Jack Dorsey Can’t Envision Twitter and Libra Together, Envisions Massive Potential in Decentralized Protocols

October 25, 2019 by Ashwath Balakrishnan at Altcoins

When asked whether Twitter would be interested in joining the Libra Association, Jack Dorsey met the inquiring journalist with a prompt "hell no". Dorsey's reaction is not surprising in the slightest as he has previously spoken of his issues with a network like Libra. That being said, Dorsey sees immense...

Tencent Views Libra as Legitimate Competitor to WeChat Pay

October 25, 2019 by Ashwath Balakrishnan at Altcoins

Libra's troubles and downfalls often make headlines, but the potential impact of the system, if it's allowed to ship, is greatly ignored. Chinese tech giant Tencent has acknowledged that Libra has the ability to genuinely threaten the global payment rails. Libra is not a rival to just WeChat Pay, but...

Facebook Heavily Criticized in Congressional Hearing, Zuckerberg Evades Specific Questions

October 24, 2019 by Ashwath Balakrishnan at Altcoins

Mark Zuckerberg testified in front of Congress yesterday, and to questions thrown his way were riddled with suspicion and contempt. Members of Congress present for the heated testimony emphasized Facebook's inability to act on important issues such as election time misinformation, false advertising, and refusal to fact check any information,...

Mark Zuckerberg to Testify Before House Committee; Here’s What You Should Know

October 23, 2019 by Ashwath Balakrishnan at Altcoins

There is less than a day for Mark Zuckerberg to formally provide testimony in front of the Congressional financial services committee. Facebook's head honcho is preparing himself to vehemently defend Libra, but also to admit to Facebook's past mistakes, according to the New York Times, October 22, 2019. Prelude to...

Libra Hints at Changing Their Core Rollout Model

October 21, 2019 by Ashwath Balakrishnan at Altcoins

David Marcus spoke to a group of established bankers in Washington this week, and he once again highlighted Facebook's desire to launch the stablecoin as per regulatory demands. Marcus suggested that the core model of Libra can be changed if governments are unhappy with the current Libra prototype. This would...

European Regulators won’t Oppose Stablecoins but Double-Down on Libra Warning

October 18, 2019 by Ashwath Balakrishnan at Altcoins

Benoit Coeure, a French economist and executive director on the ECB, believes now is the time to step up the weight of regulation for digital currencies. As per Bloomberg, Coeure believes Bitcoin and other major FinTech innovations were being closely watched and allowed to unravel in their sandbox, but now...

Court Blocks U.S. SEC from Obtaining Telegram ICO Financials

Pavel Durov Warns Telegram Backers of Financial Reprecussions if Launch Not Delayed

October 18, 2019 by Ashwath Balakrishnan at Altcoins

Telegram Founder and CEO Pavel Durov has warned investors that refusing to delay the launch to April 30, 2020, will result in investors receiving only 77 percent of their funds back. If investors insist on getting their money released by the initial October 31 deadline, the token purchase agreements are...

Wales Plans Digital Currency Launch, BoE Governor Views Cryptocurrencies like Libra as Payment System Solutions

October 16, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Bank of England Governor Mark Carney has thrown his weight behind Facebook's global cryptocurrency project dubbed Libra. The has opined that blockchain-based virtual currencies have the power tix the challenges associated with traditional payments systems, reports The Star on October 15, 2019. Mark Carney Backs Libra Whilst financial authorities across...

Libra Association will gain more Members, Says Facebook’s David Marcus

October 16, 2019 by Aisshwarya Tiwari at Altcoins

David Marcus, the Facebook Inc. representative spearheading the Libra cryptocurrency project is hopeful that despite the recent jolts to the Libra Association, the ambitious digital currency initiative will attract more firms as regulatory uncertainties get clearer. This, according to a report by Bloomberg, October 15, 2019. Facebook Not Fizzled with...

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