• Facebook's chief seems to be losing, for once. (Anthony Quintano via Wikimedia Commons)
    Libra

    Despite being called ‘global threat’, Libra Association launches

    A signing ceremony by the cryptocurrency’s members was overshadowed by dropouts and a report calling stablecoins a threat to the global economy

    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.

  • David Marcus, co-creator of Facebook's Libra (via LinkedIn).
    Libra

    Facebook remains defiant in wake of Libra defections

    The loss of Mastercard, Visa, Stripe, eBay, and Mercado Pago has hurt the stablecoin project, but the social media giant promised to move ahead

    Facebook’s plan to create a blockchain-based stablecoin called Libra took a body blow on October 11, when five main partners including Mastercard and Visa withdrew.

  • PayPal's move is a personal blow for David Marcus, the man heading up the Libra project. Earlier in the decade, he was president of PayPal (via Wiki commons).
    Libra

    PayPal quits Libra cryptocurrency project

    We’re better off without you, the Libra Association’s head of policy said after PayPal withdrew from Facebook’s controversial stablecoin project

    PayPal has formally withdrawn from the Libra Association, the payments company announced on October 4.

  • Not a photo of PayPal potentially leaving its partnership with Facebook's Libra. Instead, this is the PayPal float at the Dublin LGBTQ Pride Parade, June 29, 2019 (photo by William Murphy via Wiki commons).
    Libra

    Libra Association won’t deny reports PayPal pulling out

    Facebook’s crypto project partnerships show signs of buckling with increased government pressure

    The Libra Association would not quite deny reports that digital payment service PayPal is withdrawing from the group, designed to oversee Facebook’s highly controversial, proposed cryptocurrency.