Category: General|Oct 13, 2019 | Author: Admin

PayPal confirms - withdraws from Facebook's crypto project

Share on

Several companies should have got cold feet.

Several companies should have got cold feet.

Earlier this week, the Wall Street Journal reported that Visa and Mastercard are considering withdrawing from the Libra Association - the newly formed organization that will manage Facebook's upcoming cryptocurrency.

Neither Visa nor Mastercard has announced that they are withdrawing, but it has another giant, namely PayPal.

Political opposition
On Friday, the company announced that they will no longer be part of the Libra Association.

- PayPal has made a decision to waive further participation in the Libra Association. We continue to support Libra's ambitions and look forward to further dialogue on future cooperation, ”the company said in a press release.

Strong political opposition to Facebook's crypto project could be a trigger for PayPal's withdrawal. For example, the US Treasury Department has expressed serious concern about what the currency can be used for.

If you manage to hack Facebook's new cryptocurrency, you can make good money

Is it joking for the whole project?
However, PayPal does not provide any justification for the decision they have made. Anyway, the situation is serious for Facebook. As mentioned, it is rumored that Visa and Mastercard will also leave the project.

Facebook's cryptocurrency is scheduled to launch in 2020. Whether PayPal's (and possibly several other companies') decision to withdraw will have implications for the launch plan remains to be seen.

- Depending on the commitment of the members
After rumors began to buzz this week, Facebook's David Marcus took to Twitter:

"For Libra to succeed, we depend on committed members. And even though I have no knowledge of specific organizations that do not plan not to attend, commitment to the assignment is more important than anything else, ”Marcus wrote.

Sponsored Ads:

Comments:


Password program hacked again

Category: IT|Dec 3, 2022 | Author: Admin

Update your iPhone

Category: Apple|Dec 2, 2022 | Author: Admin

Tesla gets Dolby Atmos

Category: General|Dec 1, 2022 | Author: Admin

If Twitter is kicked out by Apple and Google, Musk will make his own mobile phone

Category: IT|Nov 30, 2022 | Author: Admin

The EU is investigating TikTok

Category: IT|Nov 29, 2022 | Author: Admin

Must be scrutinized extra carefully

Category: IT|Nov 28, 2022 | Author: Admin

Important drivers launched

Category: IT|Nov 27, 2022 | Author: Admin

Soon, Apple will make the big iPhone change

Category: Apple|Nov 26, 2022 | Author: Admin

Approaching the Apple iPhone

Category: Google|Nov 25, 2022 | Author: Admin

Microsoft is making an iPhone comeback

Category: Microsoft|Nov 23, 2022 | Author: Admin

This is how the iPhone 15 Pro becomes much faster

Category: Apple|Nov 22, 2022 | Author: Admin

Apple makes iPhone more like Android (if you want)

Category: Apple|Nov 21, 2022 | Author: Admin

These countries cheat the most and this is how they do it

Category: General|Nov 20, 2022 | Author: Admin

How to set up NightScout Docker using CyberPanel Hosting panel

Category: Tutorials|Nov 19, 2022 | Author: Admin

It will soon be over and out, warns Microsoft

Category: Microsoft|Nov 18, 2022 | Author: Admin
more