Facebook May Be Considering Changing Course as Libra Crypto Project Sails Towards Disaster

Facebook’s Libra cryptocurrency project has been heading full steam at a global financial regulatory system-sized iceberg for a while now. But it might be trying to change course after finally realising that the iceberg will win. Read More >>

The Car Crash Compilation of Mark Zuckerberg’s Six-Hour Testimony in Front of US Congress

Mark Zuckerberg, America’s pluckiest boy-technocrat and the inventor of the Retreating Bowl Cut, sat before the American House Financial Services Committee for a marathon six-hour hearing yesterday. In theory, he was there to talk about his attempts to prop up a new worldwide currency. In practice, he was grilled about nearly every aspect of his business. Read More >>

Zuckerberg is Testifying Before the Financial Services Committee This Afternoon About Libra

The guy who just last week tried to claim his data sieve social network could have prevented the Iraq War is at it again. And by “it” I mean talking out of his arse in public. Read More >>

Somebody Put Libra Out of Its Misery Already

The slow march to death for Libra, Facebook’s forthcoming cryptocurrency, continues. Yesterday, a Group of Seven nations task force threw up another hurdle in a report, stating global stablecoins like Libra could potentially wreck the global monetary system and upend financial stability. Read More >>

Facebook’s Being Sued Over Look-A-Like Logo

Looks like Libra’s terrible, horrible, no good, very bad week isn’t over yet. In addition to major backers like PayPal, eBay, Stripe, Visa, and Mastercard dropping support for Facebook’s cryptocurrency project, now its logo has become the centre of a legal battle over alleged trademark infringement. Read More >>

Libra’s Ship Is Sinking as Multiple Major Partners Abandon Facebook’s Troubled Cryptocurrency

Following the departure of PayPal from Facebook’s Libra project – a cryptocurrency that promises to “reinvent money” and “transform the global economy” – a new wave of departures has rocked the platform as eBay, Stripe, Visa and Mastercard have all announced that they are abandoning ship. Read More >>

Bank of England Sets Rules For Facebook’s Libra Cryptocurrency

Facebook's cryptocurrency-powered global payment network, Libra, hasn't exactly won much support among government regulators on either side of the Atlantic since it was formally announced back in June. In the US, the Federal Reserve, Treasury Department, House and Senate banking committee have all expressed varying degrees of concern, as has US president (ugh) Donald Trump, while the UK's Financial Conduct Authority, the European Commission and an international group of privacy regulators have also expressed scepticism and France has even vowed to block the scheme in Europe. Read More >>

PayPal Drops Support for Facebook’s Libra Cryptocurrency Scheme

A few days after the Wall Street Journal reported that a few corporate supporters of Facebook’s cryptocurrency were considering bowing out of its so-called “crypto mafia”, PayPal became the first to do so Friday, announcing that it will no longer participate in the Libra Association. Read More >>

Sounds Like Things Aren’t Going Well for Facebook’s Libra Cryptocurrency Scheme

There’s been no shortage of official opposition to Facebook and dozens of corporate partners’ plans to launch a cryptocurrency powered global payment network, Libra. A short list of the wary might include the heads of the U.S. Federal Reserve and Treasury Department, the House and Senate banking committees, EU antitrust officials, Indian and Chinese finance officials, and the French government, which vowed to stop it in its tracks across Europe. Read More >>

Members of Facebook’s ‘Crypto Mafia’ Reportedly Getting Cold Feet About Libra Currency

At least two of the 28 entities that have signed on for Facebook’s planned Libra currency are now getting nervous about the project, according to a new report from the Financial Times. And Facebook is just as worried about being the only company currently with its “neck out,” as regulators push back against the plan to create a new digital currency from thin air. Read More >>

Even a Country Without Regular Internet Access Doesn’t Trust Facebook

Perennially responsible company Facebook announced its intention to launch its own cryptocurrency, called Libra, less than two months ago. In that time a raft of governmental bodies have told Facebook in no uncertain terms to knock it the hell off, including: Read More >>

US Treasury Secretary ‘Not Comfortable’ With Facebook’s Cryptocurrency as Bipartisan Hostility Grows

Facebook’s plan to launch its Libra cryptocurrency is facing considerable pushback from US federal officials who’ve raised concerns about the prospect of it being used to skirt anti-money laundering rules and fund other illicit activities. Read More >>

US Congressman to Facebook: Your Digital Currency Could Be Worse Than 9-11

Facebook’s new digital currency, Libra, has the potential to be worse than the September 11th attacks. At least that’s what Democratic Congressman Brad Sherman of California said at a House Committee on Financial Services Hearing in Washington, D.C. Read More >>

Facebook’s Libra Project is Getting Hammered From All Sides

Facebook’s already-troubled Libra cryptocurrency project, which has already run into significant opposition among the U.S. House Committee on Financial Services and the Senate Banking Committee, is running headlong into further resistance from regulators. Read More >>

UK Regulator Says That Facebook Isn’t Going to Swan Through Regulatory Checks for Libra

Zuckerberg's bid to take over the world is going to see him have to jump through a few hoops first, as the UK watchdog does a lot of posturing to reassure the public that Libra will be subject to regulatory checks. Read More >>