Facebook’s much-publicized and criticized crypto ‘Libra’ will see competition by one of the world’s biggest tech companies, Amazon, a report has claimed. | Source: Shutterstock; edited by CCN. Since Facebook announced the Libra cryptocurrency, a couple of other similar projects have been unveiled with all of them being dubbed potential ‘Libra-killers’. They include Venus, an...Read More
European Central Bank board member Yves Mersch has warned against Facebook’s charming but treacherous promises on Monday, 2nd Sept. He said, “Libra currency may sabotage the ECB’s ability to manage the economy and threaten the euro itself” Further, he added, “Libra may lower the ECB’s control over the euro, depending on Libra’s level of acceptance...Read More
Yves Mersch, a member of the European Central Bank’s executive board, warned of the dangers of the “cartel-like, “treacherous” Facebook Libra crypto. | Source: AFP PHOTO / DANIEL ROLAND A member of the European Central Bank’s executive board sounded the alarm on the “treacherous, cartel-like” Facebook Libra cryptocurrency. Yves Mersch issued a damning warning to...Read More
Facebook has finally gotten a partner app for Instagram dubbed ‘Threads’. This may be the app that will be the Snapchat killer. The question though is which direction is Facebook going in? Facebook (FB) is said to be developing a new application which is meant to be attached to Instagram. The new application called ‘Threads’...Read More
People’s Bank of China (PBOC) central bank digital currency (CBDC) will allegedly be backed 1:1 by renminbi fiat as well as follow a two-tiered structured system with the bank, commercial banks, and retail market participants. This week China fixed the daily midpoint rate for the yuan at levels that haven’t been seen for more than...Read More
China has rubbished reports going rounds in a section of the media that its Central Bank Digital Currency (CBDC) is all set for a launch after nearly half a decade of thorough research and development. A Chinese state-owned media outlet “The Global Times” took to Twitter to deny a widely-circulated Forbes report that the People’s...Read More
Facebook is offering thousands of dollars as a reward for those testers who find bugs in its upcoming Libra cryptocurrency. Libra Invites Your Security and Privacy Review of its Architecture and Design Facebook envisages empowering billions of people all over the world through its single global ‘cryptocurrency’, Libra. It will be supported by a simple...Read More
Facebook’s Libra cryptocurrency project is offering up to $10,000 to security researchers to find security flaws in its testnet. | Source: Shutterstock Facebook’s cryptocurrency project is offering security researchers from anywhere in the world thousands of dollars to find bugs in its Libra cryptocurrency testnet. The Libra Association, which is in charge of the cryptocurrency...Read More
China is reportedly set to launch its state crypto on the country’s biggest shopping day. | Source: Shutterstock Facebook’s fears that the bottlenecks tech firms in the free world face in developing cryptocurrencies risks opening the door for more closed societies to take the lead have been confirmed. According to Forbes, China has already developed...Read More
After raising more than $1 billion in one of the most successful ICOs in the crypto sector, Telegram is now ready to launch its Gram tokens by October. Button Wallet has also announced it will facilitate trading of the tokens. There currently are more than a few thousand different digital assets in the market and...Read More
Despite being the talk of multiple controversies over the last year, analysts express strong bullishness on the future rise of Facebook (FB) stock amidst strong fundamental and technical indicators. Facebook has been going through a very rough phase over the last year. Firstly, the Cambridge Analytica scandal in 2018 surfaced the unethical use of Facebook’s...Read More
Rep. Maxine Waters, chairwoman of the United States House Financial Services Committee said on Sunday she remained worried about Facebook’s cryptocurrency project, Libra, after meeting Swiss regulators in Switzerland – where the cryptocurrency is to be headquartered. Waters said in a statement: “While I appreciate the time that the Swiss government officials took to meet...Read More
By CCN Markets: Facebook’s cryptocurrency project Libra still has more work to do in order to win over the U.S. Congress. According to the chairwoman of the U.S. House Committee on Financial Services, Maxine Waters, a meeting with the Swiss government officials who will regulate Libra Association over the weekend did not allay her concerns....Read More
Following a visit to Switzerland to meet with the country’s financial regulators, United States lawmakers are still concerned over Facebook’s proposed cryptocurrency project, Libra. A delegation of the United States House of Representatives visited Switzerland last week because they have been concerned about cryptocurrency issues, especially regarding Facebook’s yet-to-come stablecoin Libra. Representative Maxine Waters published...Read More
Mark Carney, the Governor of the Bank of England delivered a speech in U.S. Federal Reserve’s annual symposium in Jackson Hole, Wyoming claimed that USD is replaceable with a digital currency similar to Facebook’s Libra. Carney says “it’s far too expensive to send money cross-border, and there are huge financial inclusion issues related to that...Read More
Facebook’s Libra may have some early ship-jumpers as some of its first backers are reportedly distancing themselves from the project over regulation. | Source: AP Photo/Marcio Jose Sanchez, File By CCN Markets: Facebook’s Libra project could be dead on arrival. If it does launch, it probably won’t be anything like what was originally proposed by...Read More
Since the announcement of Facebook’s Libra cryptocurrency, the crypto market and even the tech sector has never been the same. It’s got regulators up in arms about Bitcoin, crypto assets are crashing, and the project may not ever even see the light of day. Even partners have started to abandon the project.The post appeared first...Read More
Watch “Bitcoin Joe” Kernen of CNBC absolutely destroy Facebook’s Libra cryptocurrency with five deft punches. | Source: CNBC/YouTube (i), Shutterstock (ii). Image Edited by CCN. By CCN Markets: Facebook’s Libra cryptocurrency isn’t getting any love from CNBC host Joe Kernen, better known on Crypto Twitter as “Bitcoin Joe.” Reacting to a report indicating that founding...Read More
As regulatory pressure continues to mount against Facebook’s proposed cryptocurrency Libra, at least three companies that are part of the governing association of Libra are contemplating withdrawing their support for the much-hyped stablecoin. According to Financial Times, two members of the Libra Association may leave the community altogether. Also, one member is allegedly concerned that...Read More
The relentless pushback that Facebook’s Libra cryptocurrency is facing is raising the question of whether forging ahead is worth it. | Source: AFP PHOTO / Brendan Smialowski By CCN Markets: Weeks after various jurisdictions around the world expressed concerns over Facebook’s Libra project, it is now the turn of EU authorities to push back against...Read More
Facebook’s Libra may be facing multiple threats from regulators, but the same critics are now racing to beat the social media giant at its own game. Experts: Chinese Libra May Come First The US, China and European Union are all concerned about Facebook’s digital currency. According to fresh reports, however, it is China which is...Read More
Photo: Adyen / LinkedIn A Dutch fintech company Adyen NV, that is involved in processesing payments for online traders including Facebook and Netflix, posted a 79% jump in core profits, propelled by a higher volume of transactions handled for existing customers. First-half core earnings (EBITDA) at Adyen reached 125.8 million euros ($139 million), that is...Read More
Privacy-focused Nym Technologies unveiled new code this week for its decentralized identity system. It’s slated for testnet launch this fall. On Tuesday at the Web3 Summit in Berlin, Nym CEO Harry Halpin said the technology represents “the next generation of privacy infrastructure” not just for blockchains but for the entire web. Indeed, one of the...Read More
Facebook Inc further extends its reach towards establishing its dominance in the Asian market. Having that it’s instant-messaging app – WhatsApp partners with multiple Indonesian digital payment firms to offer their mobile transaction services. Indonesia has an estimated value of 260 million people. Been that the nation enlists among the top-five largest markets for WhatsApp,...Read More
The European Union is actively probing Facebook’s Libra digital currency project for competition law violations, mainstream media report. Facebook’s Libra Has ‘Potential Anti-Competitive Behavior’ According to Bloomberg, which cited official correspondence August 20, the European Commission is quizzing Libra participants via a dedicated questionnaire. The document originally appeared earlier this month, and forms Libra’s latest...Read More
Facebook is reportedly already under investigation by the EU over antitrust issues related to its Libra cryptocurrency project. A document seen by Bloomberg indicates that the European Commission is “currently investigating potential anti-competitive behavior” by the Libra Association. The report describes the document as a questionnaire suggesting the commission is concerned that Facebook’s planned digital payment system could unfairly...Read More
One of the leading Facebook Owned Messaging platform Whatsapp, is currently planning to launch Digital payments in Indonesia. The platform is in talks with different digital payments firms as well as a state-owned bank to launch digital payment. It aims to tap the nation’s fast growing e-commerce sector. According to the reports , WhatsApp is currently...Read More
Facebook-owned WhatsApp is in early talks with local firms to launch digital payments service in Indonesia. Facebook-owned messaging service, WhatsApp, is purportedly in preliminary talks with multiple digital payments firms as well as a state-owned bank to launch digital payment services in Indonesia. Reuters reported that they had learned of this development from anonymous sources...Read More
Facebook’s Libra project has been questioned by European Union anti-trust regulators. They are concerned about the project, popularly referred to as a cryptocurrency, restricting competition.Libra has been subject to immense scrutiny already from global policy and law makers. In fact, the company recently admitted that the regulatory pressure might force it to postpone or even...Read More
It’s been over a month since Head of Calibra, David Marcus faced a grilling at the hands of the Senate Committee. And considering Facebook’s track record on misuse of personal data, many predicted that Marcus would be walking into an inquisition.But despite that, there’s no denying that Libra jolted lawmakers into finally taking cryptocurrency seriously....Read More
