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Facebook Libra Backers Back Out

A week ago we covered a Wall Street Journal article highlighting potential trouble for Facebook’s Libra cryptocurrency, as multiple backers were reconsidering their commitment to the project. Fast-forward a week and things have only gone from bad to worse. As Bloomberg reports, PayPal was the first to announce they were leaving on October 6, with […]

Big blow to Facebook’s Libra: Mastercard, Visa, Stripe, eBay and Mercado Pago all pull out

Anchorage, Andreessen Horowitz, Blockchain, cryptocurrency, David Marcus, eBay, Facebook, Kiva, Libra, mastercard, Mercado Pago, Mercy Corps, News, paypal, Stripe, Technology NEWS, Top Stories, Top Story 1, Visa, Xapo / Good To SEO

The floodgates opened today on Facebook Inc.’s Libra Association as no fewer than five more companies exited the group overseeing the social network’s proposed cryptocurrency: Mastercard Inc., Visa Inc., eBay Inc., Stripe Inc. and Mercado Pago. Reports that some companies were looking to withdraw their support from Libra surfaced Oct. 1, with PayPal Holdings Inc. becoming the first to

Big blow to Facebook’s Libra: Mastercard, Visa, Stripe, eBay and Mercado Pago all pull out Read More »