Libra Association Claims It Has 180 Candidates to Join the Row of Its Members
Though some giants left Libra, the Association claims that it has nearly 1500 potential candidates to join. And 180 of them meet its strict requirements.
Visa, Mastercard and Other Major Libra Backers Want to Pull Out from the Deal
Facebook’s Libra is facing many regulatory challenges that have made institutional backers like MasterCard, Stripe, PayPal, and Visa lead several other potential partners in casting their doubts about the project.
U.S. Congress Hearing With the SEC: The Journey So Far
By Tolu Ajiboye
The earlier proposed hearing by the Committee on Financial Services began with the SEC and tackled several issues regarding cryptocurrency, the SEC’s function, Facebook’s Libra, as well as blockchain technology.
Facebook Promises Up To $10,000 for Developers to Find Bugs in the Libra Project
By Tolu Ajiboye
Ahead of the Libra launch, Facebook has kicked off a bug bounty program, allowing developers to find bugs within the Libra project and get paid for their findings. Facebook hopes this will ensure a much more secure Libra.
After Visiting Switzerland, US Regulators Remain Worried About Facebook’s Libra
Following a visit to Switzerland to meet with the country’s financial regulators, United States lawmakers are still concerned over Facebook’s proposed cryptocurrency project, Libra.
JP Morgan’s Jamie Dimon Believes Libra Is Not a Short-Term Concern
In recent news, Jamie Dimon from JP Morgan has said that he believes Facebook’s Libra isn’t a short-term concern of an impact on the traditional banks.
Maxine Waters Now Calls for Zuckerberg to Testify About Libra
Rep. Maxine Waters said she’s planning to call in Facebook CEO Mark Zuckerberg to testify about his company’s new digital currency project Libra. She added that her staff has not made the formal request with Facebook yet, but they plan to do so.
‘Keep Big Tech Out of Finance’ Says the Congress
It seems that big companies as Facebook, Amazon and Google might be forbidden to launch their digital assets. If the Congress’s Bill pass – they could face with paying $1K penalties per day. Even though it’s not likely for bill to pass, it presents another obstacle for Facebook’s Libra.
Bitcoin Price More Volatile Than Ever: From $13,100 to $11,455 in Less Than 24 Hours
From around 14:00 UTC on July 10, Bitcoin fell $962 from its previous price in a little over an hour, landing just above the $12,000 psychological support before another wave of sellers dragged it to a peak low of $11,445.
Tens of US Watchdogs Ask Congress to Halt Facebook’s Libra Development Until the Hearing
In another attack on the Libra developments, 33 lawmakers have requested Congress to ask Facebook to stop further development on Libra before they answer all their concerns and questions.