Tag Archives: cryptocurrency

LIVE VIDEO: Mark Zuckerberg Testifies Before House

Wired reports: Facebook and Congress have a lot to talk about. In the past week, the company has careened through controversies over misinformation, squabbles over election ads, and an oddly statesmanlike speech in DC that sought to put a fresh spin on the Facebook origin story. But, unless grandstanding on other Facebook issues gets in the way, Wednesday’s hearing featuring …

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Major Partners Bail From Facebook’s Cryptocurrency

The Associated Press reports: On Friday, Visa and MasterCard announced their departures from the Libra project, as did e-commerce giant eBay and payments startup Stripe. Last week, PayPal became the first major company to drop out of Libra. The exodus comes amid growing — not to mention stronger-than-anticipated — regulatory pushback against Libra in the U.S. and elsewhere. “It’s a …

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Libra Scams Already Proliferating On Facebook Itself

The Washington Post reports: A wave of fakes purporting to sell or represent Facebook’s not-yet-available Libra currency have swept onto the social-media giant’s platforms, highlighting how the tech firm is struggling to rebuild trust and fight the fraud likely to surround the new financial system. Roughly a dozen fake accounts, pages and groups scattered across Facebook and its photo-sharing app …

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Trump Condemns Bitcoin And Facebook’s Libra

Wired reports: Late Thursday, President Donald Trump unleashed a three-tweet squall declaring himself “not a fan of Bitcoin and other Cryptocurrencies,” and referring to the use of “unregu­lated digital assets” for “drug trade and other illegal activities.” He included Libra in that category, saying the platform “will have little standing or dependability” and would fall prey to similar dependability issues. …

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Bank Of England Backs Facebook Cryptocurrency

The BBC reports: Bank of England Governor Mark Carney gave Facebook’s proposed digital currency Libra a cautious welcome in a major speech on Thursday. He said it could substantially lower costs and increase financial inclusion, but needs regulation. Mr Carney also announced that non-banks will be able to hold Bank of England accounts. And he highlighted climate and sustainability concerns. …

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Facebook Unveils Plan To Launch Its Cryptocurrency

Axios reports: After nearly a year of speculation, Facebook has finally unveiled its plans to create a cryptocurrency, which will be called Libra and debut in 2020. With more than two billion users, Facebook is arguably better positioned to roll out a global digital currency than any other company, government, or organization. That’s also a source of concern over how …

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