Cryptocurrency 

Investors Consider Cutting Ties with Facebook’s Libra Amid Regulatory Scrutiny

At least three investors in Facebook’s Libra cryptocurrency are considering disassociating with the currency following intense regulatory pushback. According to a report published in the Financial Times on Friday, some backers are fearful that the spotlight placed on the social media giant’s proposed cryptocurrency will also bring their own separate, independent businesses into disrepute. Two founding partners have allegedly held discussions with regard to what the “right next steps” should be for their investment. “I think it’s going to be difficult for partners who want to be seen as in compliance [with their…

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Blockchain 

Bitcoin Believer Turned Facebook’s Libra Boss

David Marcus, the man spearheading Facebook’s blockchain effort, has gotten a tremendous amount of spotlight lately. The rapid emergence of Libra has dominated the coverage of other crypto-related developments, as it became apparent that the social media giant’s inroad into the realm of digital assets will have most serious consequences for both the blockchain sector and the global financial system in general. While previously the crypto industry has hardly ever had one key spokesperson — which is perhaps a natural and welcome state of affairs for a domain wherein decentralization…

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Bitcoin 

Facebook’s Libra Confession, US Urged to Lead Way on Crypto

Top Stories This Week Facebook warns investors that the Libra stablecoin may never launch The Libra storyline is fast becoming a never-ending soap opera — and we might be reaching the season finale. Facebook used its latest quarterly report to warn investors that its controversial cryptocurrency may never launch at all. The admission at least shows that the social network is taking the concerns of regulators and policymakers to heart. Although the company still expects Libra to be released in 2020 (for now), it looks like Facebook is laying the…

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Bitcoin 

Facebook’s Libra Moved Bitcoin and Crypto Three Years Ahead

United States-based cryptocurrency index fund provider Bitwise declared that Facebook’s Libra stablecoin accelerated Bitcoin’s (BTC) progress by three years in a letter to investors published on its website on August 1. Libra attracted attention to Bitcoin In the letter, Bitwise’s global head of research Matt Hougan said on behalf of the company: “Thanks to Facebook’s Libra and Congress, we have just fast-forwarded two or three years into crypto’s future, accelerating all the conversations, debates, and mainstream discussions into the present day.” Increasing regulatory scrutiny The firm claims that, as a…

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Blockchain 

Japanese Financial Services Giant Monex Wants to Join Facebook’s Libra

Online brokerage Monex Group Inc., owner of the hacked Japanese crypto exchange Coincheck, plans to join the Facebook Libra cryptocurrency project. A report from Cointelegraph Japan today, July 26, reveals that Monex Group’s CEO Oki Matsumoto announced the company had filed an application to join the Libra Association during a press conference on Monex’s Q2 2019 financial results earlier this week. The Libra Association is the newly-established, independent governance consortium for Facebook’s planned stablecoin, dubbed Libra, and is currently negotiating with a host of other potential members — including Visa,…

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Bitcoin 

Ripple CEO Brad Garlinghouse Concerned About Effects of Facebook’s Libra

Brad Garlinghouse, CEO of blockchain and crypto firm Ripple, is concerned about potentially stricter regulation for the digital currency industry that could result from Facebook’s not-yet-issued Libra stablecoin. Garlinghouse delivered his comments in an interview with Fortune on July 25. Garlinghouse said, “You just want to make sure that you don’t get caught in the crossfire. It is important to me that when regulators start asking questions that they don’t lump us into one big bucket.” Libra helped XRP increase the number of contracts However, in an interview at Fortune…

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Cryptocurrency 

Bitcoin Survey Shows Major Distrust Abounds for Facebook’s Libra

A new Bitcoin survey asking US citizens about Facebook’s (NASDAQ:FB) new Libra stablecoin has yielded some surprising results. When compared to leading cryptocurrencies, only 2% felt they would trust Libra more than Bitcoin. The results may surprise traders and also raise questions about Facebook’s newest endeavor. Bitcoin Survey A poll of 1,799 US adults was carried out since Facebook launched its Libra white paper in mid-June. The most shocking result was that, as stated, an overwhelming majority of those asked said that when compared with Bitcoin, they don’t trust Facebook’s Libra coin.…

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Bitcoin 

2% of Americans Trust Facebook’s Libra More than Bitcoin: Research

Just 2% of Americans trust Facebook’s Libra more than major cryptocurrency Bitcoin (BTC), according to a recent survey by CivicScience. United States-based polling company CivicScience recently conducted a survey of 1,799 American adults to find out the general trends and public concerns over Facebook’s not-yet-launched cryptocurrency Libra. According to research results released on July 22, at least 40% of respondents claimed that they trusted Libra less than Bitcoin and other cryptocurrencies such as Ether (ETH) and XRP. 35% stressed that they trust Libra much less than Bitcoin, according to the…

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Blockchain 

Most Germans Skeptical Towards Facebook’s Libra, Only 12% Welcome it

About 71% of German citizens are skeptical towards Facebook’s Libra stablecoin, while only 12% welcome it, according to a survey published by German financial association Bürgerbewegung Finanzwende on July 23. Most Germans already have an opinion Notably, the survey also showed that almost every one of the 2,093 German adults surveyed had an opinion on the matter, with only 17% saying that they are not sure what to think about the stablecoin. Furthermore, 52% of the respondents also pointed out that Facebook’s impact on society is already problematic today, and…

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Ethereum 

Swiss Data Protection Regulator Seeks Details on Facebook’s Libra

The Swiss data protection regulator is waiting for Facebook to provide it with particulars on data protection risks associated with the forthcoming Libra digital currency, Reuters reported on July 23. The Federal Data Protection and Information Commissioner (FDPIC) — the competent authority for data processing by federal bodies and individuals in Switzerland — sent a letter to Libra Association on July 17, asking for details about Libra. The FDPIC stated: “The Federal Data Protection and Information Commissioner has noted the remarks made by Mr. David Marcus at his hearing before…

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