Cryptocurrency
Facebook’s cryptocurrency project suffers massive blow as MasterCard, Visa, eBay, and others withdraw from Libra via Business Insider
The future of Facebook’s cryptocurrency project is in jeopardy as many of the companies initially attached to Libra have jumped ship. Mastercard, Visa, eBay, Stripe, and Mercado Pago will all no longer participate in the Libra Association, the group working to launch Facebook’s proposed cryptocurrency, the Financial Times and Bloomberg first reported on Friday. Facebook confirmed the departures to Business […]
The future of Facebook’s cryptocurrency project is in jeopardy as many of the companies initially attached to Libra have jumped ship.
Mastercard, Visa, eBay, Stripe, and Mercado Pago will all no longer participate in the Libra Association, the group working to launch Facebook’s proposed cryptocurrency, the Financial Times and Bloomberg first reported on Friday. Facebook confirmed the departures to Business Insider.
On Monday, CNBC reported that Booking Holdings has also departed the initiative. The company did not immediately respond to a request for comment.
PayPal on October 4 was the first major partner to withdraw from the organization.
The exits, combined with intense scrutiny from lawmakers, represent a huge blow to the initiative and leave its future uncertain.