[ad_1] The company believes that enabling such purchases makes advertising becomes more valuable. CEO Mark Zuckerberg has said that he’s quite keen on growing in-app transactions. “As payments grow across Messenger and WhatsApp, and as we’re able to roll that out in more places, I think that will only grow as a trend,” he said […]
Category: libra
Telegram to pay $18.5 million and return $1.2 billion following SEC crypto charges
[ad_1] Come the middle of October, however, the SEC had intervened, obtaining a temporary restraining order against the company. The agency said Telegram didn’t register the offering with its office, and since it sees Grams as securities, it accused the company of violating the Securities Act of 1933. Then, in March, the US District Court […]
Facebook’s global currency plans were always doomed
[ad_1] Now, Libra will tie itself to a series of currencies, including US Dollars, Euros, and British Pounds. As TechCrunch explains, “when you send one Libra, you’ll actually send a fraction of USD-backed, EUR-backed, GBP-backed (etc.) stablecoins.” That should be an effective hedge against currency fluctuations, but it’ll hardly remove the risk for buyers or […]
Vodafone is the latest to leave Facebook’s Libra Association
[ad_1] The Libra Association’s policy and communications head Dante Disparte remained optimistic in a statement, noting that Libra’s governance and underlying tech would help the platform “remain resilient.” This isn’t a disaster for Libra, and a CoinDesk source said the Association intended to add members later in 2020. There’s a waiting list of more than […]
Facebook releases Zuckerberg’s upcoming testimony in defense of Libra
[ad_1] According to Zuckerberg, Facebook is “committed to taking the time to get this right.” But he also points out that China could reveal a similar system in the coming months. “If America doesn’t innovate, our financial leadership is not guaranteed,” Zuckerberg’s prepared statement reads. Supposedly, Facebook isn’t just motivated by self-interest. “Over the long […]
Facebook’s Libra loses one more member as its council becomes official
[ad_1] PayPal, eBay, Mastercard, Visa and Stripe were some the most prominent companies to pull out, each of them leaving within days of each other. Not that Facebook is deterred. Libra Association policy head Dante Disparte told Reuters that the departures were a “correction” and “not a setback.” The outfit also touted the number of […]
Mobile banking firm sues Facebook over Calibra’s logo
[ad_1] As you can see in the image Current posted on Twitter, their logos do look very similar: this is what happens when you only have 1 crayon left pic.twitter.com/2JY5JfesQD — Current (@current) June 19, 2019 Now here’s where it gets a lot more interesting: both logos were reportedly designed by San Francisco branding firm […]
eBay and Stripe pull out of Facebook’s Libra cryptocurrency
[ad_1] “We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member,” eBay said in a statement. “At this time, we are focused on rolling out eBay’s managed payments experience for our customers.” “Stripe is supportive of projects that aim to make online […]
EU grills Facebook over Libra’s financial and privacy risks
[ad_1] The questioning is part of a larger EU effort to determine if and how Libra should be regulated, provided it’s even allowed to operate in the region. There are significant hurdles to that happening. The European Central Bank’s Benoît Coeuré has warned that the standards for approval “will be very high,” and the French […]
Facebook’s Libra cryptocurrency loses backing from PayPal
[ad_1] A few days after the Wall Street Journal suggested that some companies announced as initial backers for Facebook’s cyptocurrency were reconsidering support, PayPal has announced it will end its participation in the Libra Association. Founding members invest $10 million to fund the association, and as CNBC notes, it’s unclear what happens to that money […]