Blockchain 

Facebook Libra Faces Another Setback From Global Regulators

Ever since Facebook (NASDAQ:FB) announced that it was going to come up with its own cryptocurrency last month, the company has faced a whole range of backlash from regulatory bodies not only in the United States but also in the rest of the world. The name of the cryptocurrency is Libra, and although the company is planning to launch it in 2020, the white paper has received its fair share of criticism. In a fresh development, privacy regulators in the United Kingdom, the United States, and the European Union have expressed…

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Cryptocurrency 

Facebook Warns Libra Currency May Not Hit the Market

The month of July has been one of turmoil and chaos in the crypto sphere, and one of the big reasons behind such a state of affairs was the announcement of the Libra coin, the cryptocurrency that is to be introduced by Facebook (NASDAQ:FB) next year. As soon as it was announced, it sent alarm bell ringing among regulators all across the world. The head of the United States Federal Reserve, Jerome Powell, expressed his skepticism, while the President of the United States, Donald Trump, did the same in a…

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Blockchain 

Binance in Discussions with Facebook Over Libra Coin

According to CoinTelegraph, one of the world’s largest crypto exchanges, Binance, is in “official” talks with Facebook regarding the latter’s new Libra coin. The exchange’s strategy officer, Gin Chao, told BlockTV yesterday that the company is “very excited” about the Libra project. What we know so far, according to Chao, is that the talks “have largely focused on dealing with infrastructure.” Binance and Libra Coin While the pair’s discussions are in the early stages, it seems Binance is not holding back its desire to work with Libra “as much as…

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Blockchain 

Facebook Wasting No Time Developing Recently Announced Libra Coin

Last week, the world received highly anticipated news. After the story circulated through the media ranks for months, Facebook finally confirmed it. Yes, the social media giant has moved into the crypto market, rolling out a cryptocurrency called the Libra coin. While a new venture for the company, Facebook is wasting no time jumping in. Here’s the latest happening with Facebook and the Libra coin. Facebook’s Libra Coin Needs Data Engineers This week, Facebook posted a job description indicating that it’s looking for a data engineer to work at Calibra wallet,…

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Cryptocurrency 

Facebook Enters the Crypto Space with Libra Coin

On Tuesday, Facebook and its partners unveiled its new cryptocurrency dubbed Libra coin that will transform how its over 2.38 billion users perceive the use of crypto to make purchases. Libra to Bring “Unbanked” Individuals to the System The project is offering a stable digital currency that expects to bring more unbanked individuals into the system. The Libra coin will be backed by stable financial assets and managed through a governing body. The coin is expected to make an entrance into the market in the first half of next year. The…

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Blockchain 

Facebook Coin | Platform will Announce Cryptocurrency in June

According to CNBC, Facebook will announce its cryptocurrency later in June. Further, those working on the project will be able to take their salary in its new currency—the Facebook coin. Let’s check this out; here’s what we know. Facebook Coin: To Be Announced in Late June Rumors have surfaced for months now about Facebook’s new digital asset; however, nothing was ever truly confirmed. What is known is this: Almost one year ago, Facebook hired former PayPal executive David Marcus to explore blockchain opportunities—blockchain is, of course, the necessary technology to…

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Cryptocurrency 

Facebook in Discussions with CFTC but Uncertainties Continue

Some weeks back, Facebook indicated that it was launching a cryptocurrency payment service called Project Libra. The company has had a series of talks with various e-commerce companies as well as financial firms seeking support for the payment service. The latest discussions involve the US Commodity and Futures Trading Commission regarding Facebook’s stable coin initiative: GlobalCoin. CFTC Indicates Interest The Financial Times reported on Sunday that Christopher Giancarlo, the chairman of CFTC, had confirmed that talks regarding the support for the stablecoin were in early stages. He added that the goal…

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Blockchain 

Even if Facebook Launches GlobalCoin, It’s Going to Struggle: This is Why

While not official, it looks like we’re going to see Facebook’s GlobalCoin sometime soon. And yet, if this rollout does happen, new research has indicated that the Facebook cryptocurrency will struggle to gain traction. Here’s why. Facebook’s GlobalCoin Hits Roadblock The most recent piece of news about Facebook’s GlobalCoin came out last week, on May 24. It was at this time that BBC, a UK broadcasting company, said social media giant Facebook plans to launch its cryptocurrency GlobalCoin next year, even going as far as saying the company plans to conduct…

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Blockchain 

Facebook Coin | Catalyst for Crypto Growth, Says Spencer Bogart

With the introduction of the Facebook Coin, the cryptocurrency world is facing a revolution. Spencer Bogart of Blockchain Capital, in an interview with Bloomberg, shed some light on the media giant’s venture into the cryptocurrency ecosystem. The Trickle-Down Effect of Facebook Coin In the interview, Bogart stated that there are several catalysts on the horizon in the cryptocurrency market despite the speculated “bottom” being reached. One good catalyst will be the anticipated Facebook Coin that will change dynamics in the cryptocurrency industry. The Facebook Coin project will be an incredible project…

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Blockchain 

Facebook Crypto Ad Ban | Platform Loosens Restriction on Crypto Ads

According to CNBC, Facebook said on Wednesday that it will loosen its ban on cryptocurrency advertising on its platform. The result will allow businesses related to crypto and blockchain to promote their projects on the social network. The Facebook crypto ad ban first came into effect in January 2018. Facebook Crypto Ad Ban The social media giant first started blocking ads on initial coin offerings, saying it had concerns for its users’ welfare. It was afraid that many would fall for scams and fraudulent crypto products. But earlier this year…

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