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

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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

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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

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