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. 

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?
One currency to rule them all: Facebook’s Diem has global ambitions
Michael Garbade
“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.
Facebook ‘definitely looking’ at NFTs, says exec
Helen Partz
Marcus shares his honest thoughts on the crypto market, as well as declaring that Novi is ready to launch.
Facebook’s David Marcus calls for 'fair shot' at crypto payments
Tom Farren
Stablecoins use a variety of techniques to keep their value fixed, generally to a specific fiat currency like the U.S. dollar. ...
How stablecoins stay stable, explained
Connor Sephton
Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate.
Diem parters with Silvergate bank to launch stablecoin in the US
Helen Partz
Expert Take
A close look at the policy issues relating to the potential impact of stablecoins on financial systems and economies around the world.
Stablecoins present new dilemmas for regulators as mass adoption looms
Agata Ferreira
Kevin Weil has previously said that the launch of the Facebook-backed stablecoin would be "a journey of years and decades."
Diem co-creator leaving Facebook for Planet Labs
Turner Wright
Fireblocks and First Digital Asset Group have developed a seamless connection to Diem, allowing financial institutions to access the emerging payment network. T...
Diem gets closer to launch as Fireblocks and First introduce new payment infrastructure
Sam Bourgi

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