How The Fed Put a Hit on Facebook’s Libra
When Facebook (later Meta) announced its ambitious Libra project in 2019, it was pitched as a groundbreaking effort to revolutionize the global financial system. Spearheaded by David Marcus, a former PayPal executive, the project aimed to create a blockchain-based digital currency that would facilitate real-time, low-cost international transactions. However, the project ultimately failed to launch, and Marcus later described it as a "political kill."
As Libra pivots, members jump ship for Celo
When Libra was first announced in June 2019, it was pitched as a global digital currency pegged to a basket of bank deposits and short-term government securities. These assets were to be denominated in a range of historically stable international currencies, including the dollar, pound, euro, Swiss franc and yen.
Libra continues development despite an uncertain launch
Despite significant pushback from lawmakers in several jurisdictions, which has created substantial uncertainty surrounding Facebook’s digital currency, the Libra Association is pushing ahead with development related to the project.
Australian Central Bank says “Nah, mate” to Facebook’s Libra
The Reserve Bank of Australia (RBA) says Facebook’s digital currency, Libra, should not be allowed to launch in Australia without being heavily regulated. It does not believe there will be enough demand to merit the effort required to introduce the currency to Australia.
With Libra in doubt, Facebook launches ‘Facebook Pay’
Facebook is launching Facebook Pay - a new payment solution for use across its basket of products and services.
Bank of Japan confirms no plans for a Central Bank Digital Currency
The Governor of the Bank of Japan dismissed the possibility of the central bank issuing a digital currency at a press conference after a G20 meeting between finance leaders and central banks.
China goes all-in on blockchain
In an official speech, last Friday Chinese President Xi Jinping said China must make a greater effort to develop and apply blockchain technologies.
Crypto comes under fire as Zuckerberg defends Libra
In the latest round of scrutiny over Libra, Mark Zuckerberg sat before Congress and fielded questions about the embattled cryptocurrency project.
Payment firms exit the Libra platform
In what may be the biggest blow yet to Facebook's Libra, payment giants Mastercard, Visa, eBay, and Stripe have abandoned the troubled cryptocurrency project.
Apple observing crypto assets
A top Apple executive has confirmed that the tech giant is watching crypto with interest.
Telegram’s Gram is ready to send, can the messaging-app deliver?
Telegram’s cryptocurrency Gram is ready for launch in late October. However, following the regulatory pushback against Facebook’s Libra, is Telegram prepared to buck regulators and press send?
How does crypto influence monetary policy?
Cryptocurrency has the potential to improve citizen welfare and encourage local investment, according to a new academic report.
Battle of the global reserve: Crypto vs the dollar
Since the demise of the pound sterling, the dollar has been the global reserve currency. Now Bank of England governor Mark Carney says the next reserve could be digital.
Libra fast losing traction
Backers of Facebook’s Libra crypto asset project are said to be increasingly nervous as regulatory pressure mounts.
CipherTrace report highlights new regulations, Libra, and exchange hacks
A new report by CipherTrace provides insight into the state of the global crypto asset markets. The ‘Q2 2019 Cryptocurrency Anti-Money Laundering Report’ says a growing global regulatory response and the entry of Facebook’s Libra were significant events last quarter.
Walmart goes back to the blockchain with new stablecoin patent
Walmart, the US retail giant has submitted an application to patent a use-case for a digital coin that would be backed by fiat currency and linked to customer records.
