• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Rumble to Launch Bitcoin and Stablecoin Wallet in 2025

    Bitcoin ETF Inflows Surge to Record $40.62 Billion

    Bitcoin ETFs Achieve Record $40.62 Billion Inflows

    Metaplanet Issues $21.25M Bonds to Acquire Bitcoin

    Metaplanet Issues $25M Bonds for Bitcoin Acquisition

    Bitcoin Surges Past $100K Amid Market Instability

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    Ethereum’s May Rally Signals Potential New Altcoin Season

    Binance Confirms Doodles Token Airdrop for Eligible Holders

    SEC Settles $50M Ripple Lawsuit

    SEC Reaches $50M Settlement with Ripple Over XRP Case

    World Liberty Financial Acquires 1,587 ETH for $3.5 Million

    Ripple Settles with SEC for $50 Million

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Libra Association Founders Yet to Submit Commitment Money of $10M Each

Tony P. by Tony P.
October 23, 2019
in Altcoin News, Latest News
Libra Association

Twenty founding members of the Libra Association, apart from Facebook, have not remitted their commitment money amounting to $10 million each toward the Libra project.

According to a report by BBC yesterday (Tuesday, October 22), each of the twenty founders agreed to produce investment money amounting to $10 million, as confirmed by Facebook during Libra’s launch in June. However, no member has remitted the commitment money so far. Besides, when the Libra Association had its first general assembly last week, the investment matter did not form one of the subjects under discussion.

All the same, some Libra Association member companies, interviewed by the BBC, said there was no timeline set for the $10 million investment fee, and they would invest in the project when asked to do so.

One member said:

“Rather than collect a bunch of money from a bunch of people and then figure it out…the feeling is that we needed to form, ratify a budget, and then figure out how to fund that budget, rather than the other way around.”

Zuckerberg to Testify Before Congress

Facebook CEO, Mark Zuckerberg, is expected to appear before the U.S. Congress today (Wednesday, October 23, 2019) to speak on Libra. In written testimony, the CEO revealed that Facebook will “not be part of launching the Libra payments system anywhere in the world until US regulators approve.”

Zuckerberg has always insisted that the Libra project is “independent” with no control from the partners. He is, anyway, aware that Facebook faces a reputational crisis that Libra has to overcome if the stablecoin is to win U.S. approval.

However, on interesting note, a source at a founding member company told the BBC that they have noticed some sinister moves on the part of Facebook.

“We’ve seen Facebook start to move away from the association a little bit, maybe, but it’s still a challenge for them, definitely,” the source said.

So far, the Libra Association has been quiet on matters regarding its funding sources. The Association has not revealed whether it receives financial support from any other source apart from Facebook.

Featured image: pymnts.com

Tags: LibraLibra AssociationMark ZuckerbergUS Congress
Previous Post

Bitcoin (BTC) Remains a Safe Haven in Times of Financial Turmoil

Next Post

The Latest BTC Flash Crash – What Could Be the Cause?

Tony P.

Tony P.

Related Posts

Ethereum’s May Rally Signals Potential New Altcoin Season

by Solomon M.
May 9, 2025

Ethereum rally in May 2025 suggests start of new altcoin season, marked by increased capital flow into altcoins.

Binance Confirms Doodles Token Airdrop for Eligible Holders

by Solomon M.
May 9, 2025

Binance confirms the Doodles (DOOD) token airdrop for holders of specific tokens, with eligibility criteria in place.

SEC Settles $50M Ripple Lawsuit

by Adriana M.
May 9, 2025

SEC and Ripple settle $50 million lawsuit over XRP, ending major crypto case.

SEC Reaches $50M Settlement with Ripple Over XRP Case

by Joshua T.
May 9, 2025

Ripple and SEC settle XRP lawsuit with $50M deal, ending a major crypto regulatory case.

World Liberty Financial Buys $3.5M Ethereum in Surprise Move

by Solomon M.
May 9, 2025

World Liberty Financial invests $3.5 million in Ethereum, sending signals of increased institutional interest amid market fluctuations.

World Liberty Financial Acquires 1,587 ETH for $3.5 Million

by Solomon M.
May 9, 2025

World Liberty Financial invests $3.5M in Ethereum, highlighting rising institutional interest in digital assets.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.