Facebook’s libra cryptocurrency coalition is falling apart as eBay, Visa, Mastercard and Stripe jump ship
Facebook’s libra cryptocurrency coalition is falling apart as
eBay, Visa, Mastercard and Stripe jump ship
@LAUREN_FEINER FRI, OCT 11 20195:55 PM EDT
EBay, Stripe, Mastercard and Visa are all dropping out of Facebook’s libra cryptocurrency project, the companies announced Friday. The news comes one week after PayPal announced its withdrawal as government regulators continue to scrutinize the plans.
Special thanks to and for sticking it out until the 11th hour. The pressure has been intense (understatement), and I respect their decision to wait until there’s regulatory clarity for to proceed, vs. the invoked threats (by many) on their biz.
I would caution against reading the fate of Libra into this update. Of course, it’s not great news in the short term, but in a way it’s liberating. Stay tuned for more very soon. Change of this magnitude is hard. You know you’re on to something when so much pressure builds up.