Facebook's Libra faces support test after big payment backers quit (page 2)

Last week, it was reported that Facebook’s Libra cryptocurrency lost one of the companies that initially supported it. This came in the form of PayPal who decided to back out of the cryptocurrency. However, it seems that Libra could be in serious trouble because it looks like more founding companies are withdrawing their support as well.This comes in the form of Mastercard, Visa, Stripe, Mercado Pago, and eBay who have all pulled out of Libra. In a statement made to The Verge, a Visa spokesperson said, “Visa has decided not to join the Libra Association at this time. We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations.”eBay also issued a statement that reads, “We highly respect the vision of the Libra Association. However, eBay has made the decision to not move forward as a founding member. At this time, we are focused on rolling out eBay&rsquo

Facebook's Libra faces support test after big payment backers quit

Facebook's Libra cryptocurrency faces a pivotal meeting of backers on Monday, days after the would-be digital coin project suffered a severe blow as major payment firms quit.

Mon 14 Oct 19 from Reuters Technology

Major partners drop out, Warren fires back: Facebook's Libra faces a tough road ahead

The alternative currency plan proposed by Facebook could still launch, but the road to get there has just gotten way harder, according to analysts.      

Sun 13 Oct 19 from USA today

Why each Libra member’s mutiny hurts Facebook

Sat 12 Oct 19 from TechCrunch

Facebook Libra Crippled After PayPal, Mastercard, Visa Abandon Crypto Project

Facebook's attempt to create a cryptocurrency appears to be stillborn as major partners are pulling out of the project. PayPal backed out of the project recently, and now reports indicate most ...

Sat 12 Oct 19 from HotHardware

Visa, Mastercard, Stripe, and eBay all quit Facebook’s Libra in one day

Libra has faced hostile reactions from policymakers.

Sat 12 Oct 19 from Arstechnica

Facebook’s Libra In Trouble As More Companies Withdraw Their Support

Last week, it was reported that Facebook’s Libra cryptocurrency lost one of the companies that initially supported it. This came in the form of PayPal who decided to back out of the cryptocurrency. ...

Fri 11 Oct 19 from Ubergizmo

Pegging Libra to just the $ could soothe regulators, a16z says

What if Libra wasn’t backed by a basket of international currencies, but only the dollar? Regulatory pushback to the Facebook-led cryptocurrency Libra has caused major partners including ...

Fri 11 Oct 19 from TechCrunch

Facebook's Libra currency abandoned by major financial companies

Facebook Inc's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit ...

Fri 11 Oct 19 from Reuters Technology

Facebook's Libra cryptocurrency loses support of five founding members - CNET

It's Black Friday for the ambitious, but controversial project.

Fri 11 Oct 19 from CNET

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