Facebook’s sudden announcement of the Libra stablecoin on June 18, 2019 was the epitome of its old motto, “move fast and break things.” Thirty-one months later, the sputtering project finally ground to a halt, having crashed into political opposition, financial fears, abandonment by allies, regulatory...
Meta CEO Mark Zuckerberg is seeing the demise of his cryptocurrency project due to regulatory pressures, Bloomberg reported Tuesday (Jan. 25). The Diem Association, which used to be known as Libra and which is backed by Meta, is looking at selling its assets as a...
The announcement that David Marcus is leaving the company formerly known as Facebook marks the departure of the last name associated with its Libra stablecoin debacle. As the head of what was then called the Calibra wallet (now Novi), Marcus headed up the launch of...
Diem may be a shadow of what some proponents promised it would be back in 2019 — namely, a seismic shift for the monetary system itself. What once was billed as a “new” currency, via global stablecoin to be composed of a “basket” of multiple...
January 26, 2022
Facebook’s sudden announcement of the Libra stablecoin on June 18, 2019 was the epitome of its old motto, “move fast and break things.” Thirty-one months later, the sputtering project finally ground to a halt, having crashed into political opposition, financial fears, abandonment by allies, regulatory blockades thrown up in the U.S. and around the world, […]
January 04, 2021
Diem may be a shadow of what some proponents promised it would be back in 2019 — namely, a seismic shift for the monetary system itself. What once was billed...
September 15, 2020
Central bank digital coins on the Continent – but plenty of room for cash. To that end, Bloomberg reported at least some financial regulators from the European Union say there...
March 04, 2020
In today’s top payments news, Ant Financial has acquired a minority stake in FinTech Klarna, the coronavirus has crippled the $1.7 trillion global tourism industry, and Facebook is reportedly considering...
January 25, 2022
Meta CEO Mark Zuckerberg is seeing the demise of his cryptocurrency project due to regulatory pressures, Bloomberg reported Tuesday (Jan. 25). The Diem Association, which used to be known as Libra and which is backed by Meta, is looking at selling its assets as a way to potentially return capital to investor members. Meta’s Facebook […]
December 01, 2020
Goodbye Libra and hello Diem. Facebook’s cryptocurrency project on Tuesday (Dec. 1) unveiled a new name as it seeks to put some distance between itself and its powerful but controversial...
November 29, 2020
Facebook‘s digital currency, Libra, could launch by January, but in a “limited format,” according to officials, as reported by Financial Times (FT). Libra, which has been in the works for...
October 15, 2020
The Libra Association, the Facebook-backed stablecoin project, has named former HSBC executive Ian Jenkins as chief financial officer (CFO) and chief risk officer (CRO) of Libra Networks, Libra announced on Thursday (Oct....
