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.
Facebook’s new Libra stablecoin got a break in Europe last week with the announcement that Christine Lagarde has been nominated to be the new head of the European Central Bank, says eToro’s senior market analyst, Mati Greenspan.
The world’s banking payment system is going to be tokenized on a blockchain, according to the head of Goldman Sachs. In a discussion of Facebook’s new Libra cryptocurrency with the French news site Les Echo on June 28, Goldman Sachs CEO David Solomon said he finds the “principle interesting” and the fifth-largest American bank, does “extensive research on the concept of tokenization.”
The tech giants are coming for the banks. If there’s one message to be taken out of Facebook’s aggressive push into blockchain-based payments via its new cryptocurrency, libra, it’s that Facebook is now also a FinTech company.