Opinion
While built on the idea of connectivity, the Metaverse could instead break the internet apart, but the solution lies in how the business is done.
4264
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.
- Analysis
Facebook’s Novi wallet lets users send and receive a dollar-pegged stablecoin, but not hold it.
3418 - Opinion
There are two big questions on everyone’s lips now: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users?
46717 - News
“When you have a good crypto wallet like Novi will be, you also have to think about how to help consumers support NFTs,” Facebook’s David Marcus said.
5251 - News
Marcus shares his honest thoughts on the crypto market, as well as declaring that Novi is ready to launch.
4255 - Explained
Stablecoins use a variety of techniques to keep their value fixed, generally to a specific fiat currency like the U.S. dollar.
48 - News
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate.
16001 - Expert Take
A close look at the policy issues relating to the potential impact of stablecoins on financial systems and economies around the world.
20663 - News
Kevin Weil has previously said that the launch of the Facebook-backed stablecoin would be "a journey of years and decades."
8433 - News
Fireblocks and First Digital Asset Group have developed a seamless connection to Diem, allowing financial institutions to access the emerging payment network. The platform is still awaiting regulatory approval before it can launch.
14551 - News
The Agricultural Bank of China has launched an ATM pilot program that enables citizens to convert cash and savings to and from the digital yuan.
9296 - News
Attorney General William Barr tendered his resignation to President Trump last night, opening up the conversation as to how a Biden-appointed successor will handle crypto.
3192 - News
A former PBoC official says that his country has taken a cautious approach with the digital yuan.
3768 - News
Regulators around the globe are increasingly turning hostile to the social media behemoth.
5025 - News
Executives from Facebook’s ‘Diem’ Association, Circle, Soramitsu, and Coinbase discussed how and when digital currencies will go mainstream, at the Singapore Fintech Festival.
18910