A California judge gave Brian Armstrong’s cryptocurrency exchange Coinbase three quarters of a win Tuesday, throwing out fraud and unfair competition allegations.
Facebook is in for a rough ride with its Libra cryptocurrency project. If that wasn’t clear from the president’s anti-cryptocurrency Tweets last week and Treasury Secretary’s comments on Monday that they are “a national security issue,” it was very obvious after the Facebook executive spearheading its Libra payment system was treated like a bipartisan punching bag in a hearing before the U.S. Senate Banking Committee on July 16.
Martine Paris talked with crypto pundits, Jimmy Song, venture partner at Blockchain Capital and author of Programming Blockchain; Alex Frenkel, GM of Kin Ecosystem; Michael Terpin, CEO of Transform Group and co-founder of BitAngels; and Alex Mashinsky, founder and CEO of Celsius Network. What follows are their views on the likely causes of the wild parabolic swings.
Facebook wants to do to Bitcoin—and maybe even the dollar, euro, and yen—what it did to MySpace and Friendster by launching a new cryptocurrency called libra, announced on Tuesday after months of anticipation and speculation.