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Libra News

While there were many rumors circulating around Facebook’s quiet cryptocurrency project, details didn’t emerge until mid-June 2019 with the reveal of Libra — a cryptocurrency backed by reserve assets maintained in concert by a consortium of companies around the world with the goal of providing secure financial services to anyone anywhere.

The news triggered immediate pushback by the United States government for fear of Facebook’s track record with user data, influence on world affairs and the possible upending of the U.S. dollar’s status as a global reserve currency. Notably, both Facebook CEO Mark Zuckerberg and Libra head David Marcus testified before the House Financial Services Committee.

The Libra project has since pivoted to issuing fiat-backed stablecoins rather than attempting to issue a wholly new currency to be used by Facebook’s billion-plus user base.

The project quickly ignited a debate among world leaders around the future of digital assets in the global economy, with some countries actively researching and developing their own digital currency initiatives.

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Libra considering the use of fiat-pegged stablecoins for its basket while navigating through a wave of negative criticisms from regulators.

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2019-10-28T15:34:00+00:00

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Hodler’s Digest

Bitcoin hits a five-month low and clocks 36% daily gains in a single week, and Congress unconvinced after Zuckerberg showdown.

Bitcoin Madness, Zuckerberg in Congress, China’s Blockchain Plans: Hodler’s Digest, Oct 21–27

2019-10-27T18:57:00+00:00

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What’s the right approach to privacy that will allow crypto to best navigate regulation?

Can Libra and Other Crypto Find a Ground to Navigate Regulation?

2019-10-26T20:05:00+01:00

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As institutional investors move toward crypto, tight security is necessary.

What Will Move Crypto Into the Institutional Realm?

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2019-10-26T17:17:00+01:00

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In a historic appearance before a U.S. House committee, the Facebook CEO didn’t say too much new about Libra.

Zuck of the Hill: After 6-Hour Libra Grilling, Congress Unconvinced

2019-10-25T19:13:00+01:00

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A professor at Stanford Graduate School of Business says cryptocurrencies will put an end to the windfall that banks currently enjoy from low-interest deposits.

Stanford Prof: Crypto Will Rain on Banks’ Low-Interest Rate Parade

2019-10-25T11:06:00+01:00

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Twitter and Square CEO Jack Dorsey says “Hell no” to the question of whether Twitter would ever join Facebook’s Libra project.

CEO Jack Dorsey On Twitter Joining Libra: 'Hell No'

2019-10-24T23:25:00+01:00

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Cointelegraph assesses what we learned at the U.S. House Financial Services Committee’s hearing with Mark Zuckerberg on Wednesday.

After 6 Hours of Zuckerberg Testimony, Congress Still Hates Libra

2019-10-24T20:59:00+01:00

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