Libra

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 [...]

Libra—the Facebook-allied cryptocurrency that has been riddled with controversy, is ‘inescapable’ and here to stay. This is according to a French tycoon Xavier Niel, who is also the founder of telecoms group Iliad. The Libra enthusiast said that Libra is “inevitable” and “will exist” just as more than 1000 other cryptocurrencies exist in the market. [...]

The founder of Facebook crypto-project Libra, Mark Zuckerberg, is set to appear before the U.S. regulator, the Securities and Exchanges Commission (SEC) by January 2020. This announcement comes shortly after Facebook COO Sheryl Sandberg agreed to testify before the U.S. House Committee on October 29. However, the meeting will not take place until the CEO [...]

Libra cryptocurrency co-creator David Marcus has refuted claims by world regulators that the stablecoin, which is due for launch in 2020, will threaten monetary sovereignty of other nations. Marcus who took to Twitter on Monday (September 16, 2019), stated that Libra is intended to be a “better payment network and system running on existing currencies…there’s [...]

The French Finance Ministry has released a statement outlining its intention to block the development of Facebook-allied Libra cryptocurrency. Facebook, the social networking platform had earlier in the year announced that it was in the process of developing its own cryptocurrency, which would be known as Libra. The ministry has deemed the cryptocurrency too risky [...]