• Rep. Alexandria Ocasio-Cortez (D-NY) questioning Facebook's David Marcus on Libra before the House Financial Services Committee, July 17, 2019 (via C-SPAN).
    Libra,  United States

    News analysis: Less-hostile House politicizes Facebook Libra debate

    Facing questions about speed and power, David Marcus refused to make promises about the cryptocurrency

    Facebook’s David Marcus got a warmer reception from the House yesterday than he did in the Senate on Tuesday. Not that it was friendly, but the questions focused more on the power Facebook would gain from its Libra cryptocurrency, and getting Marcus to commit to working at the pace of Washington, D.C., not Silicon Valley.

  • Keeping crypto in a piggy bank is still safer than many exchanges (via Shutterstock).

    Crypto firms may not remain banking pariahs forever

    Senate, Federal Reserve express interest in crypto banking regulations; financial institutions’ patents say they are also interested

    When it comes to getting a bank account, cryptocurrency and blockchain firms are being treated like marijuana sellers. That may not be a bad thing.

  • Skeleton Bitcoin

    UBS economist says Bitcoin is dying, and blockchain will be the better for it

    ‘Their designers are brilliant at maths. Their designers appear to know nothing about economics.’

    In a note titled “I come to bury Bitcoin, not to praise it,” Paul Donovan, UBS bank’s wealth management global chief economist, took the opportunity on Tuesday to predict that Bitcoin is not just an economic bubble, but one that has begun to burst. Looking at a drop in value from near $20,000 at the end of 2017 to as low as $3,200 last week, the longtime cryptocurrency skeptic felt confident enough to say: “The cryptocurrency bubble may be in its death throes. A loss of over 80% is not healthy. Economists said from the start that Bitcoin and the like would never be currencies. They never will be currencies.…