Libra news & headlines
Latest breaking stories, features and analysis
- G7, a group of major global economies, announced recently that it will not allow Facebook to launch Libra.
- According to them, global stablecoins cannot be allowed without being properly regulated.
- Facebook has run into similar issues before due to fears of global stablecoins threatening financial systems.
Latest Libra news
Back in early 2019, when Facebook first confirmed the rumors of the company developing its own stablecoin, Libra, the hype about the project soared. The project caused a lot of fear among traditional financial institutions, economists, and alike. The crypto community itself was not impressed, as it never considered it ‘real crypto,’ due to its centralization. Everyone else, however, saw Libra as a potential destroyer of traditional fi...
Temasek Holdings, a Singapore stake investor has joined the Libra Association. The group unveiled this news on May 14 through an official statement, noting that Temasek was among three of its latest members. The other two members are San Francisco-based crypto investment firm Paradigm and Slow Ventures, a private equity firm. In the statement, the organization said that Temasek would bring a differentiated position as an Asia-focused investor. Sp...
The Libra Association, an organization composed of global firms that back Facebook’s Libra stablecoin has appointed Stuart Levey as its first CEO. The organization unveiled this news on May 6 through an official statement. He is currently the Chief Legal Officer for HSBC Holdings, a global bank that had a £42.96 billion of operating capital in the past year. Levey is set to join the Libra Association this summer after stepping down from his posit...
Facebook’s Calibra team has released a research paper that outlines a new technique for Byzantine Fault Tolerance (BFT) testing. Calibra’s innovation is dubbed “Twins” and it involves a lightweight criterion for testing a network’s BFT implementation. Per the publication, BFT systems have been studied extensively for more than 20 years. However, Calibra believes that the sector lacks a principled strategy for testing...
The Dfinance team has launched a VS Code extension that seeks to add support for the Move language in the Libra ecosystem. The team unveiled this news through a blog post on April 19, noting that launching this extension is a small contribution to the Libra ecosystem.Per the publication, the VS Code extension will help familiarize developers with the Move language quickly. On top of this, it is set to help them develop general applications for Li...
Facebook seems to be ready to change its plans regarding the expected release of its long-awaited cryptocurrency, Libra. When the company originally introduced the coin, it stated that it would be a simple global currency that could reshape the global economy.It was not long before the regulators took notice and started to interfere, quickly discovering that the company lacks quite a few answers regarding its upcoming coin. While the regulators d...
Facebook’s announcement of its own cryptocurrency, Libra, made quite a bit of commotion with countries, regulators, and even other companies around the world in 2019. The project seemed big, optimistic, and revolutionary at first, so it did not really surprise anyone when numerous large corporations decided to provide their support and join the Libra Association.However, it was also not long before many of them started to leave, led by PayP...
According to Jens Weidmann, who acts as the policymaker for the European Central Bank (ECB), as well as the President of Germany’s central bank — European banks should be careful with their response to Libra. He does not believe that the creation of a counter-solution, such as digital euro, is the right way to go about it.Instead, Weidmann thinks that European banks should create a faster, cheaper solution in order to keep their custo...
One of the members of the Libra Association, a blockchain firm known as Bison Trails, recently held a Series A funding round. The funding round ended up being extremely successful, as the firm managed to raise as much as $25.5 million from some prominent crypto companies.Some of the leading investors from the round include the likes of Blockchain Capital, Coinbase, Galaxy Digital, Kleiner Perkins, and ConsenSys. Of course, these are only some of...
The CEO of Facebook, Mark Zuckerberg, had implored the U.S House of Representatives last week, that America has to up its game in the league of digital assets in order to maintain its financial leadership and compete well with the likes of China that is already working diligently to digitalize its currency. Zuckerberg was called into the U.S Senate to testify and defend the recently announced Libra cryptocurrency project by Facebook. Libra Crypto...
Facebook has been under government scrutiny for its recently announced Libra cryptocurrency project and for potentially risking the consumer data at large. Mr. Mark Zuckerberg, the CEO of Facebook has been called to testify on Wednesday before the House Financial Services Committee. The CEO had previously cleared his stance that he wishes to highlight the potential of Libra cryptocurrency to the lawmakers, in sustaining America’s leadership...
The Libra Association, Facebook’s protégé that is working diligently to launch a new cryptocurrency by the second half of the year 2020, has been under scrutiny and excessive skepticism from the governments and regulatory authorities across the globe. While the government of France and Germany had previously announced their plans of blocking Libra operations within the territory of Europe, a recent consumer survey has highligh...