Senate hostile towards Libra, Facebook suggests regulators must act or risk losing US dollar dominance to Bitcoin

post-img

Read More

The focus of the hearing between Facebook’s David Marcus and the Senate on the Libra cryptocurrency was trust—or the lack thereof. Marcus, the head of Calibra, strongly suggested that if the U.S. doesn’t act quickly, Bitcoin could jeopardize the dollar’s dominance. Meanwhile, the Senate Committee was hostile towards the social media giant because of its…

Running Facebook GlobalCoin node will cost $10 million in licensing fees

post-img

Read More

GlobalCoin, Facebook’s own cryptocurrency, will reportedly be announced this month. According to a report in The Information, the social media giant is set to provide more details about the coin and could allow its employees to take their salary in the form of the new token. Official announcement of GlobalCoin coming this month Rumors about…

Facebook allegedly raising as much as $1 billion for its cryptocurrency stablecoin

post-img

Read More

Facebook is looking for VC firms to invest in its cryptocurrency project for sums as large as $1 billion, according to NY Times reporter Nathaniel Popper. The company is allegedly designing its crypto as a stablecoin for WhatsApp using a basket of foreign currencies as collateral. Since 2018 Facebook has been covertly working on a cryptocurrency…

Facebook Acqui-Hires Team from Blockchain Platform Startup Chainspace

post-img

Read More

Facebook acquired its first company in the blockchain space, smart contract protocol development and research firm Chainspace. The move was likely made to acquire the company’s team of experienced crypto developers. Chainspace is an 11-person company that was started by five well-credentialed co-founders, including two Cambridge PhDs, several researchers from the University College of London,…

Facebook's David Marcus Steps Down From Coinbase's Board

Facebook's David Marcus Steps Down From Coinbase's Board

Read More

David Marcus is stepping down from the board of directors at crypto exchange Coinbase, citing his new role at Facebook leading blockchain strategy.