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

Ubergizmo: 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. However, it seems that Libra could be in serious trouble because it looks like more founding companies are withdrawing their support as well.”

Digital Trends: Get your popcorn ready. Zuckerberg is set to testify before Congress again

Digital Trends: Get your popcorn ready. Zuckerberg is set to testify before Congress again. “Facebook CEO Mark Zuckerberg will be back in Washington D.C. to testify before Congress once again, this time in support of the platform’s Libra cryptocurrency.”

Libra: PayPal first to drop out of Facebook cryptocurrency (BBC)

BBC: Libra: PayPal first to drop out of Facebook cryptocurrency. “Payments firm PayPal has become the first company to pull out of an alliance that is trying to launch Facebook’s digital currency Libra. PayPal made the announcement in a statement on Friday, but did not specify what had prompted the decision.”

CNN: Facebook’s financial partners in Libra may be getting cold feet

CNN: Facebook’s financial partners in Libra may be getting cold feet. “The coalition Facebook assembled to create a global payments network may be losing some key financial support. Visa, Mastercard and other financial partners who signed on to support Libra are reconsidering their involvement in the network, The Wall Street Journal reported Tuesday.”

Lifehacker: Earn Thousands of Dollars for Finding Bugs in Facebook’s Libra Cryptocurrency

Lifehacker: Earn Thousands of Dollars for Finding Bugs in Facebook’s Libra Cryptocurrency. “While we’re still waiting on a specific release date for Facebook’s upcoming cryptocurrency, Libra, the company is aiming for an early 2020 release. That gives you plenty of time to find bugs in the currency’s infrastructure—a project that could reward you handsomely.”

The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair

The Next Web: Facebook should stop trying to disrupt payments with Libra and focus on repair. “When companies attempt to enter new highly regulated markets, regulators typically look at the company’s intentions and previous compliance. Facebook has a long history of willful neglect of their consumers’ privacy, as evidenced by numerous disclosures, including a document seizure by the United Kingdom’s parliament.”

Brookings Institution: How should governments respond to Facebook’s Libra initiative?

The Brookings Institution: How should governments respond to Facebook’s Libra initiative?. “How governments should respond to Libra depends on how the company integrates the cryptocurrency into their larger business. We envision Libra being integrated into the company’s broader business model as a basis for offering financial services, or possibly an even broader set of services. Given the increasing social and economic power of large tech firms, governments should proactively start thinking of how to respond to these firms’ entrance into new industries.”