It’s been a pretty intense month for the Libra Association, whose stablecoin has come under intense scrutiny from the U.S. Congress and the G7 over fears of destabilizing the global financial system when it launches next year.
Mark Zuckerberg is a proud American. And Facebook, despite being used by 2.7 billion people around the globe, is first and foremost an American company with American values.
Facebook’s wounded Libra Association formally voted itself into existence on October 14, electing a board and choosing officers. The ceremony was overshadowed by the loss of seven original members including Mastercard and Visa.
Facebook’s Libra cryptocurrency plan began to collapse over the course of a few hours on the evening of Friday, October 11. Like dominoes toppling, many of its major partners began pulling out...