More companies back away from Facebook's Libra coin

Illustration by William Joel / The Verge The news seems to be going from bad to worse for Facebook’s cryptocurrency project, as online travel company Booking Holdings has stepped away from the nonprofit Libra Association. As Bloomberg reports, that means seven of Libra’s original 28 members have exited the project. Seven of 28 founders are out Facebook announced in June that it would launch Libra, an ambitious entry into the cryptocurrency business made with the support of major financial institutions. But the plan soon faced scrutiny from regulators around the world, who have questioned the influence Facebook would wield with a currency of its own. In the face of the backlash, PayPal left the project earlier last month. The situation came to a boil last week, as two senators... Continue reading…

More companies back away from Facebook's Libra coin

Facebook's digital currency alliance lost more companies on Friday amid heavy criticism from regulators around the world on the planned Libra global cryptocurrency.

Sat 12 Oct 19 from TechXplore

Libra Association announces new board members after recent departures

Illustration by William Joel / The Verge In Geneva on Monday, the remaining members of the Libra Association held their inaugural meeting, bringing together executives from more ...

Mon 14 Oct 19 from The Verge

Facebook's Libra announces board as support shrinks further

Backers of Facebook Inc's Libra cryptocurrency project pledged to forge ahead after selecting a five-member board on Monday, shrugging off the latest member defection by online travel company ...

Mon 14 Oct 19 from Reuters Technology

Libra claims 180 potential replacements for 7 mutineers

Attempting to signal its popularity despite high-profile defections from Visa, Stripe, and more, the Facebook-led cryptocurrency Libra Assocation announced that 1,500 organizations have expressed ...

Mon 14 Oct 19 from TechCrunch

Facebook's Libra support shrinks further as Priceline owner jumps ship

Facebook Inc's Libra cryptocurrency faced a pivotal meeting of backers on Monday, after the ambitious project to bring digital coins into mainstream commerce suffered another defection, from ...

Mon 14 Oct 19 from Reuters Technology

Factbox: Facebook's Libra in trouble as firms jump ship

A number of payment processors and fintech companies that joined Facebook Inc's digital currency project Libra with great fanfare earlier this year, have abandoned the project, dealing a blow ...

Mon 14 Oct 19 from Reuters Technology

Facebook's Libra faces support test after payment giants jump ship

Facebook's Libra cryptocurrency faces a pivotal meeting of backers on Monday, days after the ambitious project to bring digital coins into mainstream commerce suffered a severe setback when ...

Mon 14 Oct 19 from Reuters Technology

Visa, Mastercard, Stripe, and eBay all abandon Facebook's Libra Association

Back in June, Facebook confirmed long-running rumors by revealing its Libra cryptocurrency and Calibra digital wallet. But within 48 hours of the announcement, Senate officials announced it ...

Mon 14 Oct 19 from Techspot

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