Vodafone has withdrawn from the Libra Association, the independent governing council for Facebook’s global cryptocurrency project. The British telecom giant said that it wants to switch gears and put the resources it originally intended for Libra into its African mobile money transfer service M-Pesa.
The tech giants that already know everything about you, and now they want to be your banker, too. What could possibly go wrong?
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.